Managers' pay rises shrink for third year in a row

June 1993
Management Services;Jun93, Vol. 37 Issue 6, p8
Managers have seen their rise in earnings shrink for the third year in succession according to the Institute of Management's latest salary survey - the most comprehensive of its kind in Great Britain. The average manager now earns £ 29,838 while the avenge director earns £ 68,722. Forty percent of managers earn over £ 30,000 and 68.8 percent of directors earn more than £ 50,000. The average manager is a 44 year old male. He drives a car and receives 27 days holiday per year. The average director is also male and aged 48. He drives an executive style car with a purchase price of more than £ 19,250. The best paid jobs for managers are in banking, finance and insurance, where the average manager now receives £ 35,021. The worst paid are in other manufacturing industries, where the average stands at just £ 24,533. The best paid directors work in the electricity, gas and other energy industries where the average director receives £ 110,981, while the worst paid are in textiles, leather, clothing and footwear and earning an average of £ 49,835.


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