Pay rates rise

Talent pushes up pay

A shortage of professionals and a “war for talent” are pushing up pay rates, according to the annual global survey from recruitment firm Robert Walters.

The 2006 survey has found double-digit salary growth in a range of industries at all levels. “The accountancy and legal professions, in particular, are having to pay significantly more to attract the best candidates,” said Giles Daubeney, chief operating officer of Robert Walters.

“Employers are having to act quickly and imaginatively to secure the best candidates in the market. They are also increasingly broadening their search to source qualified professionals from international markets.”

The survey found that newly qualified accountants in London are being paid 15% more than in Thames Valley and the Home Counties.

It also highlighted a shortage of tax experience in Aberdeen, the UK's oil capital.

The survey also found that demand in the public sector remains high, as the government continues with major spending programmes.

Worldwide tragedies such as the Asian tsunami of December 2004 and Hurricane Katrina in the US have boosted demand for qualified professionals in charities and non-governmental organisations.

In Japan, there is “huge demand” for bilingual professionals from local Japanese and international organisations, “reflecting continued mobility of international labour,” said the survey.

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