Best and worst professions for a pay rise revealed

Best and worst professions for a pay rise revealed, how does your job compare?

The latest analysis by finance experts, RIFT, has revealed which jobs are due for a pay rise in 2023 having seen the largest salary reductions year on year, as well as the job roles you might want to consider having seen the largest pay rises.

RIFT analysed data from the Office for National Statistics looking at current earnings by occupation across the UK and how these earnings have changed on an annual basis.

The results show that the nation’s highest earners last year were predictably chief executives and senior officials with an average salary of £109,937. Marketing, finance and information technology directors also ranked high, as did medical practitioners, pilots and headteachers.

At the other end of the table, cleaners took home the lowest salary at £11,628, with kitchen assistants, retail cashiers, waiters and waitresses, bar staff, playworkers and lollipop men and women also making the list of worst paid occupations.

However, it’s writers who may want to consider a career change.

The analysis by RIFT shows that over 60 occupations have seen their income reduce on an annual basis.

Authors, writers and translators saw the largest salary reduction of all professions, falling by -17.6% when compared to the previous year – a cut of over £6,000.

Those managing within the creative industries also saw a substantial reduction of -17.1%, equating to almost £8,300 less, while statisticians took a pay cut of -15.2% or £8,670.

So which professions have enjoyed the biggest boost to their pay packet?

Hair and beauty salon owners rank top, with the average salary increasing by 42.2% in a single year – a pay rise of almost £8,500. Bar staff have also seen one of the highest pay rises while pulling pints, earning 29.7% more on an annual basis (£2,025).

Not only do information and technology directors earn one of the highest salaries but they’ve also enjoyed a 27% pay rise year on year – the third highest of all occupations.

Other professions where pay rises have been abundant include glass makers (+26.6%), sports coaches (+25.9%), barristers (+25.6%), youth workers (+25.5%), health care managers (+24.2%), beauticians (+23.6%) and travel agents (+22.1%).

Bradley Post, MD of RIFT, commented:

“It continues to be an incredibly tough time for many where our household finances are concerned and with the dark clouds of economic uncertainty yet to lift, the last thing anyone needs is for their income to take a hit.

Unfortunately, the figures show that many professions have seen a reduction in earnings, from crane drivers to dentists, bakers to engineers.

However, this isn’t the case across the board and there are actually more professions who have enjoyed a boost to their pay packet when compared to the previous year.

Of course, it’s unlikely that you would leave a higher paid job for a sector enjoying positive pay growth, but if you are working in a profession that has seen a reduction in earnings, it might be worth discussing a pay rise in 2023.”