Pensions World

Despite the challenging economic climate more respondents to 2010 Sammons Pensions Salary and Benefits Survey reported a salary increase compared to the 2009 survey, writes Joanne Whittington, associate director, Sammons Pensions.

Increases most typically ranged between 0-3.9%. Higher bonus payments were also reported compared to last year. However, only 34% of respondents felt their salary is in line with the market, and we also saw a marked increase in the number of respondents who feel their benefits are not competitive to the industry.

As with last year's results variety of position was the most valued factor, closely followed by working environment and colleagues.

Despite only 16.5% of the respondents confirming they had changed jobs in the past 12 months, the highest ranked motivator for changing roles was “New Challenge” followed closely by “Career Progression” – a clear indicator of the frustration of a less than buoyant market.

The key issues faced by companies when employing staff has continued to be shortage of suitably experienced candidates presented. As a recruitment specialist to the pensions industry we have seen a continuing demand for more and more highly skilled individuals.

On a daily basis we are working with organisations and individuals addressing these issues and more, focusing our own efforts on building long-term, open and trusted relationships with both clients and candidates to ensure we understand their needs and to secure the right candidates for the right roles.

If you would like to request a copy of this year’s salary survey, require any further information about the results, or would like us to undertake individual benchmarking, please do not hesitate to contact Sammons Pensions & Actuarial team on 020 7293 7022 or via email pensions@sammons.co.uk. We look forward to working with you in 2011.