Reward and compensation professionals remain the highest paid HR specialists according to the Chartered Institute of Personnel and Development (CIPD) and Croner’s reward and pay survey.
The study, Personnel Rewards Survey, shows that reward practitioners receive 18% above the average senior management HR salary, up from 16% in 2007.
The average salary for a compensation and benefits manager now stands at £53,000, compared with the annual pay of a HR specialist at £45,000.
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Charles Cotton, reward advisor at CIPD, said: “With reward budgets accounting for up to two thirds of operating costs, the need for reward and compensation specialists capable of aligning pay with organisational objectives is clear. During these tough times, employers will be particularly keen to ensure they can maximise return on their substantial reward budgets.”
Recruitment specialists at senior management level have experienced the largest increase in HR salaries in the past year. Their pay is now generally 11% above the average senior management HR specialist (£45,000 a year) compared with 4% in 2007.
They survey, which is based on 5,712 jobs in the HR sector, also found that employee relation specialists are receiving 6% below the average senior management HR salary, despite the increased industrial relations activity and predicted strike action in some sectors.