EEF2
The UK plastics, rubber and chemicals sector saw the greatest increase in pay across all roles, according to a new report from the EEF.
The findings reveal the median pay for the sector in 2017 was eight per cent higher than the previous year.
Taking all the UK’s manufacturing sectors into consideration, the EEF’s 2017-18 Directors’ Pay Benchmark report reveals that the North East of England is the highest paid region for Directors, with a median basic pay of £86,167.
Companies in the West Midlands pay bosses a median of £83,640 (a rise of four per cent), which makes it the second highest paying region for Directors’ salaries in 2017.
The new figures – which cover pay data for over 640 employees across 192 companies – reveals that average basic pay across all directors now sits at £92,166, which is up three per cent on 2016.
The regions with the greatest increase in median basic pay in the last 12 months were the North East and South West, which both saw hikes of five per cent across the top salaries.
Amanda Norris, Head of Information and Research at EEF, the manufacturers’ organisation said: “The rise in pay revealed in our latest update on directors’ reward reinforces the importance of manufacturers having up-to-date market information on remuneration, to help them recruit and retain those employees essential to the running of their business.
“The increases are also another positive sign to add to the strong performance we reported in our last survey on business conditions in the sector.”