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London pay gap – FMCG sector bucks the trend…

07 September 2016

The vastly higher average salary levels offered in our capital city are widely known. The median average UK salary is currently £27,531 while London is the highest-earning region, boasting an average salary of £48,023. This means the average London resident earns almost double what the average UK resident earns in a year.

While the gap between average salaries in London and the rest of the UK look set to rise year-on-year, our research within the FMCG sector paints a very different picture. 

At the beginning of each year we conduct extensive research to gather a plethora of data relating to salary levels and benefits packages within the FMCG sector. Publically released annually in June, the survey results (representing over 6,000 individual data findings) allow us to guide clients and candidates on the most appropriate remuneration levels across multiple job categories including sales, marketing and technical/operational roles.

2016’s findings uncovered many trends, particularly when compared with data from the last three years. Significantly, we discovered that within the FMCG sector, most notably within the sales job category, the pay gap between London and the rest of the UK is steadily narrowing year on year, not growing wider as one would assume. 

We believe this trend is indicative of today’s transient and flexible workforce. More than ever before, sales professionals tend to cover wide locational regions. Together with a marked increase in flexible working and working from home agreements, regionally specific jobs that confine an individual to a specific small regional territory are becoming less common. Therefore, while London is still a hot bed for talent – sales positions that require coverage of the London area do not necessarily have to be filled by individuals that live in the region.

Furthermore, the idea of work-life balance has significantly influenced this trend. Escaping the trappings of the big city for a more simple life in the country is particularly trendy at present. Individuals are realising that they and their families can benefit from living outside of the city – commuting where appropriate and combining this with working from home agreements.

While the London financial services sector, known for it’s extortionately high remuneration especially within the City of London is witnessing its highest ever pay gap compared with the rest of the UK (skewing average results dramatically) one cannot draw comparisons with this anomaly within other sectors. 

Companies are also realising the benefits of a regionally-based workforce. By offering comparative salaries to those offered in London within the FMCG sector, they are putting themselves in a strong position to compete for a pool of talent that is increasingly interested in a suburban way of life.

For more detailed information regarding remuneration levels across the FMCG sector within all UK regions, please download New Chapter’s 2016 Salary Survey here.

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