Biggest pay rises going to marketing managers, report finds
Some of the biggest pay rises are being handed to marketing managers, as businesses look to reward staff with digital know-how, a report has found.
Salaries for communications and marketing managers leapt by 37% to £70,000 this year, with competition for digital marketing bosses remaining fierce, according to Emolument.com.
The salary benchmarking site said hefty pay rises were also being offered up in corporate banking, with associates pocketing a 37% jump in total compensation to £82,000, up from £60,000 in 2015.
It found that technology firms competing with the banks for top talent in the IT sector had also pushed up pay, with Java developers seeing a 12% jump to £58,000 this year.
Alice Leguay, Emolument co-founder and chief operating officer, said : 'Despite high-delta remuneration, finance jobs are not topping our table. Instead, professionals in sectors emerging as game changers such as IT and digital marketing are hot property and those with some experience command fast-increasing pay packages.
"With the financial sector making a huge push to develop their Fintech services, we expect to see IT climb even faster in the coming years."
The study, which analysed more than 15,000 entries in London throughout 2015 and 2016, said human resources departments were also hiking salaries as digital innovation helps to bolster their skills set.
It said HR managers, who are helping companies adapt their management style to millennials and Generation Y, had seen total compensation rise 31% to £80,000 for 2016.
The study came as separate research from Emolument.com in April revealed Amazon was giving junior staff pay packets worth more than £90,000, as the tech sector narrows the salary gap on the banking industry.
The online retail giant is offering entry-level salaries worth £75,000, coupled with an annual bonus of £15,000.