Finance deals static at 4%

Article Abstract:

UK finance sector pay increases in the banking and insurance industries continued to average 4% in the first quarter of 1997. Performance-related merit pay was the most common type of pay settlement, ranging from 2%-7%. Profit-sharing increased, although basic pay rises were comparable to 1996. Pay increases at Norwich Union insurance company and at Barclays, Midland, and Co-operative Banks are analyzed.

Banking industry, Financial services industry, Financial services, Insurance industry, Compensation and benefits

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3%: do not disturb

Article Abstract:

United Kingdom pay settlements continued to average 3% in March 1997 as inflation remained in check, declining to 2.6%. However, if the UK economy becomes overheated, inflation could begin to drive pay increases upward. Pay awards have outstripped inflation since Oct 1995. Private sector settlements are lower than the previous year, as are awards in several specific fields.

Analysis, Inflation (Finance), Inflation (Economics)

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