Technology vs Finance
Young people who are focused on earning a six-figure salary early in their careers can be torn between the financial and technology sectors. These were almost neck-and-neck in Glassdoor’s data: While seven of the top 20 companies with average base salaries were in financial services, nine were technology companies.
The tech sector has the highest number of vacancies for positions paying more than £100,000 on the job search engine Adzuna. Nearly 4 percent of IT job openings promise a salary of more than £100,000, compared to 1.5 percent in finance and accounting. Healthcare also had large numbers of vacancies at over £100,000, a reflection of the huge numbers leaving the sector.
The company that advertised the most job openings with salaries over £100,000 was IT consultancy CGI International.
The most wanted workers – who can demand higher wages
Simon Winfield, of recruiter Hays, said that data analysts and software engineers in particular are highly sought after by employers. Three of the five roles with the largest salary increases in the past year were cybersecurity. Security architect roles saw a 16.4 percent increase in their average base salary over the past year.
With the job market so hot, a good salary alone may not be enough to bring in the top talent right now. In all sectors, competition forces companies to be creative. Paul Lewis, of Adzuna, said, “In addition to bumper salaries, employers are also offering other sweeteners to attract the best talent, such as digital nomad policies, childcare support, and even fertility benefits.”
People who change jobs are also lured by big signup bonuses. According to the latest data from the Office for National Statistics, total wages rose 6.8 percent in February to April 2022, largely due to hefty bonus payments. Over 12,000 job openings on Adzuna currently offer a golden handshake to new hires, ranging up to £20,000.
But bonuses aren’t the only benefits job seekers should look out for. “Because travel costs are only going in one direction, more companies are offering to subsidize workers’ transportation costs,” said Mr. Hall. “Other perks like free lunches and a paid gym membership are not to be missed; they can go a long way in the current climate.”