The annual Directors’ Pay Benchmark – just published – gives a detailed insight into pay at the top of manufacturing companies in the UK. A must for HR professionals, our report not only focuses on national and regional pay for each of the 13 director positions, but also outlines bonuses and benefits.
Some of the key findings of the 2017-18 Directors’ Pay Benchmark:
- The regions with the greatest increase in median basic pay from 2016 to 2017 were the North East and South West, with the North East also having the highest median basic pay in 2017 at £86,167 1
- Directors in companies employing up to 50 had basic median pay of £65,436 in 2017, compared to £95,000 for those in businesses with a workforce of more than 500 – suggesting a link between company size and pay 1
- The Rubber, Plastics and Chemicals sector saw the largest rise in pay across all the roles, with median pay for 2017 up 8% on the 2016 data 1
- In 2017, 68% of directors received a bonus, averaging £21,884 per director
One of a series
The publication of the Directors’ Pay Benchmark follows closely behind the launch of the Professionals’ Pay Benchmark (in December 2017), which analyses pay for more than 6,000 managers, engineers and other professionals, across 232 manufacturers. However, the 2017-18 series started with the release of Workforce Pay Benchmark in September 2017, which covers pay for more than 100 roles across the manufacturing workforce.
Summary statistics from the Professionals’ and Workforce Pay Benchmarks:
- Managers pay rose by 3% and engineers was up by 5% from 2016 to 20171
- In 2017, 62% of managers received a bonus, compared to 50% of senior engineers and 45% of engineers
- 40% of engineers were in receipt of paid overtime, which dropped to 28% for senior engineers and only 6% of managers
- In the Workforce report basic median pay across all clerical & technical employees was £25,950 and for manual workers it was £21,424
- 93% of manual workers were entitled to paid overtime versus 53% of clerical & technical employees
Find out more
Get in touch with the Research team to find out more about these reports, or the other benchmarks we produce and research we can undertake, e-mail: [email protected]
1 Based on matched sampling