Specialists in reward remain the highest paid within HR, according to latest findings.
The research conducted by professional body the Chartered Institute of Personnel and Development (CIPD) and Croner shows that reward managers earn 32% above the average salary.
Private sector workers earn more comparatively than those in the public sector. Personnel directors in the private sector are paid an average £69,750 while those in the public sector take home £60,019 a year. Voluntary sector workers are on the bottom rung with an average wage of just £53,636 at director level.
Size matters when it comes to pay. HR directors in larger organisations (4-10,000) earn two thirds more than their counterparts in smaller businesses (0-100 employees)
Workers in the capital top the salary charts earning on average 11% more than personnel directors in the regions.
HR bonuses range between 4% and 20% with an average of 7%. The findings show that generally the higher the job level, the higher the bonus, with Personnel Directors receiving, on average, 20% of their basic salary as a bonus.
Following the patterns of pay, bonuses featured more regularly for workers in the private sector but were found to be few and far between for those in the voluntary field.
CIPD reward adviser, Charles Cotton commented:
“Reward is becoming more and more important within organisations and plays a key part in attracting, retaining and motivating staff.”
Other key findings:
- The majority of organisations (97%) offer a pension scheme, only 61% of these are defined benefit schemes
- Most personnel professionals (82%) have contracted hours of 35-37.5 hours but over half (49%) work more than these hours
- Sixty-nine per cent of HR respondents rate their job satisfaction as good or excellent. This rises to 77% in the not for profit sector
- A pay gap of 14% exists between genders in the profession
Over 10,000 HR professionals were surveyed.