As we approach September which is traditionally a point where many PM practitioners consider their futures as part of the post-holiday blues, we thought it would be a good time to find out the state of the UK project management market.
In a recent blog post: Capitalising on a “Disloyalty Bonus” we discussed how UK workers are achieving on average an 11% pay rise for changing roles as opposed to those who are staying put receiving only a 2.5% rise in salary.
We have pulled together stats in relation to this and salaries in general in the PMBR however that data was collected last year. We want to know what the market is like right now!
There are many reports about the wider market available, but nothing specific to the project management domain which allows us all to see what our version of the truth is. Confusing pictures include;
- UK unemployment at lowest since 1975
- Manufacturing in recession after 2 quarters of negative activity, whilst the Services sector continues to perform.
- CIPD (Chartered Institute of Personnel and Development) members reporting a skills shortage for high skilled applicants, where average applications have fallen from 8 to 6.
- Vacancies being classified as “Hard to fill”, with half of the CIPD employers reporting that they have increased starting salaries to attract talent; with a growing number increasing pay to retain staff.
- Overall pressure on pay is modest, with forecast suggesting that they expect to see an average 2.2% increase over the next 12 months
- Workers who switch jobs capitalising on a “disloyalty bonus” as their colleagues who stay put see little growth; with workers moving into new roles in the past year have achieved an average increase of 11%, compared to the average of 2.5%.
To try and build a clearer picture of what has happened to PM salaries and rates so far in 2018 and what practitioners are anticipating for the remainder of the year, we have pulled together a short survey and would really appreciate your inputs.
Whether you are one of those picking up a moving bonus or still caught in an organisation where remuneration is suppressed your inputs to our short survey would be appreciated. Let’s find out if it is a buyers or seller’s market right now.
Once the results are compiled we look forward to sharing them with you.