Salary Guide 2024 - Engineering & Manufacturing - Reed
Salary Guide 2024 - Engineering & Manufacturing - Reed
Salary guide
2024
The cost of
winning in 2024
The end of 2023 saw slowing inflation, a positive sign for the year
ahead. But no matter what happens with the inflation rate, people will
still be feeling the pinch of the cost-of-living crisis. Many will be looking
for jobs that can offer the salary and benefits they need to stay afloat.
It’s the people working in organisations that make the This year, our research has also highlighted some
difference, so it is important that companies do all they significant gender disparities. According to our survey,
can to offer the best remuneration packages to attract women are earning on average £10,000 less than their
new, good quality hires and to retain their best people. male counterparts. 57% of men feel confident they will
achieve their dream salary, as opposed to just 44% of
Towards the end of last year, we conducted our women. Women’s mental health is also more likely to be
annual survey of 5,000 workers to provide you with impacted negatively by their current financial situation
a representative picture of the wants and needs of (40% vs 29% of men). And overall, women are less likely
the UK workforce. You can see an in-depth analysis of to receive any work benefits (35% vs 25% of men), but
the results of the survey further on in this guide, but when they do get them, they are more likely to prefer
interestingly, 55% of people are currently looking for, flexi time (40% vs 32% of men) and are less likely to
or considering looking for, a new job. The top reasons get a salary increment (16% vs 20% of men).
for looking to leave their current role include pay being
insufficient or perceived to be better elsewhere, benefits These disturbing statistics highlight that there is still
not being good enough, and a toxic workplace culture. much work to be done to close the gender pay gap.
According to the Office for National Statistics, the gap
On top of this, just over half of workers (56%) are happy in median hourly pay between full-time male and female
with the pay they receive, but this does mean that many employees increased to 7.7% in 2023. Organisations
are not. Of those who aren’t satisfied with what they are should continue to address women’s inequality in the
earning, over half (57%) stated that this is because their workplace and it’s certainly something we are working
salary hasn’t risen with the cost of living. Over a third on here at Reed. Addressing gender pay will bring a
(39%) say it’s not enough for them to live the lifestyle range of benefits to your business including improved
they want, and (38%) feel they are unable to save morale, higher retention, increased innovation, improved
enough money to meet their financial goals. productivity and lower legal risks.
As a business leader, I know it isn’t always possible Not only must we bridge the pay gap, but business
to increase salaries, especially with rising costs, the leaders also need to ensure that no matter what journey
burden of overheads and higher business rates looming. you find your organisations are on in 2024, inclusion and
However, it’s important that if you can, you consider belonging should remain paramount in the workplace.
doing so, because even a small amount can make a This will ensure you widen your doors to access the best
big difference. talent available. In an environment where you will need
innovative, creative and productive people more than
In my experience, the best investment you can make is
ever, this makes perfect business sense.
in people, and in return, you will see improvements to
productivity, employee retention, customer satisfaction Remember, your people are your superpower!
and ultimately your bottom line. But if there really isn’t
anything you can do with salary, focus on the benefits Wishing you all the best for the year ahead.
you can offer – make your place of work difficult to
leave and become a ‘star player’ when it comes to added
value. Our research highlights the disparity between
what is being offered and what people really want, so
don’t be afraid to ask your colleagues what they actually
want and keep doing this on a regular basis to ensure James Reed CBE
you have your finger on the pulse. Chairman and Chief Executive, Reed
Contents
Introduction 4 Need interview questions fast? 25
Northern Ireland 23
The sector is undergoing significant transformation, consumer demand for ‘green’ products. Employers should
propelled by technological advancements, sustainability invest in sustainable manufacturing processes, reducing
initiatives and evolving global markets. Now, the waste and carbon footprint, thereby enhancing both their
industry finds itself balancing innovation with tradition, reputation and the planet’s health.
with a workforce adjusting to new ways of working.
The shortage of qualified professionals in fields such as
The integration of cutting-edge technologies such as engineering, data analysis, and advanced manufacturing
artificial intelligence, Internet of Things, and automation has techniques has made it difficult for companies to meet their
revolutionised production processes, and are the driving production demands. This gap between demand and supply
forces behind enhanced efficiency and precision. Automation, of skilled workers has led to increased competition for talent,
for instance, is reducing costs and ensuring higher-quality urging businesses to invest in training and development to
standards, making UK products more competitive on the upskill their existing workforce.
international stage. Smart manufacturing techniques have
We can expect to see demand for professionals with a
increased efficiency and opened doors to new possibilities
diverse range of skills this year. Educational initiatives and
across product design and development.
vocational training programmes will open doors – especially
The challenges posed by global events, such as the pandemic for jobseekers in the north of England as work gets underway
and geopolitical uncertainties, have highlighted the importance to transform the region. Those motivated in their careers
of resilient supply chains. As a response, there is a growing will take advantage of the industry’s culture of continuous
emphasis on optimising supply chain processes, ensuring learning, prioritising tech skills to enhance their employability.
reliability, and mitigating risks. This focus has created Traditional engineering disciplines remain crucial, but robotics
opportunities for professionals in supply chain management engineers, data analysts and sustainability experts will be
and logistics. Rapid adaptation, diversification of supply chains, most attractive to employers. Additionally, soft skills such as
and strategic investments in research and development are key adaptability, problem-solving, and effective communication
strategies that will ensure the sector’s stability. are highly valued across the board.
Continuous upskilling is essential for existing employees. As Ways to keep hold of experienced talent may include offering
technology reshapes industries, staying ahead of the curve attractive benefits that enhance employee wellbeing, with
with relevant certifications and training will not only enhance flexible working arrangements and professional development
earning potential but ensure long-term career stability. opportunities becoming standard offerings.
Salaries
With ongoing cost-of-living challenges, salaries will continue to be a huge area of discussion in the employment
market, for both professionals and businesses.
As many are feeling the pinch, we’ve seen more talent move around to secure higher paid roles, with businesses analysing how
much they can stretch to get the people they need. Getting professionals’ take on their salaries is critical for businesses looking
to benchmark what they can offer. Interestingly, the data has also revealed a gulf between men and women when it comes to
attitudes to salary.
Currently, over half (56%) of workers are happy with the pay they receive, a slight incline from the previous year (53%). Although,
around one-in-four (24%) professionals feel unhappy with their current salary.
Of those who are happy with their pay, 38% say it’s because it’s enough for them to live comfortably on, 38% feel satisfied that
the work they do is right for the salary they receive, and 33% believe it goes well with their role.
But, as expected, continued increases in inflation and bills have put many under greater financial pressure. Over half (57%) of those
who aren’t satisfied with their salary shared that this is because it hasn’t risen with the cost of living, over a third (39%) say it’s not
enough for them to live the lifestyle they want, and 38% feel they are unable to save enough money to meet their financial goals.
Half (50%) feel confident that they will achieve their comfortable salary at some point. Depending on whether you take a glass
half empty, or half full approach, this may be an indication that those who wish to earn more may consider moving companies to
secure a higher wage.
It’s worth noting that there’s a difference between men and women. Men have a higher comfortable salary of £52,000 compared
to women (£45,000). And more men (57%) feel confident they will hit that salary, compared to less than half of women (44%).
18%
7%
26%
49%
On average, people are spending 60% of their monthly wage on essential purchases - including bills, mortgages, food, etc – with
the remainder being split evenly between luxury spending and savings. In comparison to 2021, that’s an increase of six per cent
going to essential purchases and a four per cent drop in luxury items. Additionally, over one-in-five (22%) aren’t saving any of
their salary because they can’t afford to do so, with a third (33%) not feeling confident they will meet their financial saving goals
on time. The cost-of-living crisis seems to be taking a heavier toll on women – they are more likely to say they can’t afford to
save money – 24% compared with 19% for men. They are also less confident in achieving their financial goals: 61% of women feel
confident, compared with 75% of men.
Women’s mental health is also suffering due to finances. Forty per cent of women say their financial situation is impacting their
mental health negatively, compared with 29% of men.
Where raising salaries isn’t an option, the benefits businesses offer can potentially tip the balance when people are considering
changing jobs. Surprisingly, however, three-in-10 (30%) say they don’t receive any workplace benefits at all.
There seems to be a more even playing field when it comes to the benefits in demand this year versus the last few years. In
2021, we saw higher demand for health-related benefits, which reflected the stress the pandemic had on workers. Last year,
workers were feeling the initial impact of rising energy bills and inflation, which was reflected in their desire for more financial-led
benefits, such as salary increments and pensions. This year, however, there’s a greater balance between money and flexibility.
There also seems to be some disconnect when it comes to offering workplace benefits. For those that do get workplace
benefits, the three most common are: flexi time (20%), a company pension higher than the required amount (18%), and an
annual salary increment (18%).
In comparison, the top-three desired benefits are: an annual salary increment (45%), a four-day working week (36%), and flexi
time (36%). There’s a disparity between what is being offered and what is desired, especially as only seven per cent of workers
currently receive the second most demanded benefit – a four-day working week. Women are less likely to receive any work
benefits. But the benefits they want vary – and they are most interested in flexi time.
Another top item people are saving for is a holiday (34%). In such cases, offering a performance bonus may help; a benefit that
only 15% receive but, again, 29% would like.
In summary
Over half of professionals (55%) are currently looking, or considering looking, for
a new job – highlighting a need for businesses to audit what they are offering their
current and future talent. Two of the top-five reasons for people looking elsewhere
pertain to the salary not being enough or being better elsewhere, with another top
reason being that the benefits package isn’t sufficient.
There are some areas where businesses could better align their benefits packages to
the wishes of candidates. Aside from the four-day working week, the most popular
benefits do fall into the top benefits employers offer but aren’t as high up in terms of
importance when compared with employee preferences.
There are also some areas where companies could save money by removing less popular
benefits from their offering. Cycle to work schemes are the fourth most popular benefit
supplied by workplaces (16%) but fall into one of the least desired benefits for employees,
with only four per cent finding it an attractive add-on. Only 12% receive private healthcare,
whereas 28% find it an attractive benefit; the same trend is found in health insurance, with
only 12% of businesses offering it, but 22% of employees wanting it.
Businesses should consider evaluating the benefits they offer and whether they appeal
to their workers today, as the money they save on removing undesirable benefits could
be better spent on more costly rewards that attract and retain top talent.
The gender differences also can’t be ignored. Women are less likely to reach their
financial goals and be more negatively affected by the cost-of-living crisis.
Electrical/Electronics Design
£43,400 £50,400 £57,300 £47,900 £42,000 £52,900
Engineer
Engineering/Technical
£69,300 £80,300 £91,400 £86,700 £81,800 £84,300
Director
Maintenance Manager/
£40,300 £44,200 £48,000 £43,500 £41,600 £46,400
Engineer
4%
versus 5.1% UK
2022 £25,700
average growth
2023 £28,300
2022 £41,900 12
£46,250
10
Inflation (RPI)
2023 £43,900 8
£42,500
6
2024 £45,900
4
£38,750
2
2017
2018
2019
2020
2021
2022
2023
2022 £24,900
2023 £27,700
2024 £28,800
Regional
insight Melanie Marjoram.
Regional Director, Reed
”
predictions which led to Make UK calling the robust talent pool. Local universities latest tech into business practice.
Electrical/Electronics Design
£38,800 £45,000 £51,300 £42,300 £40,800 £47,200
Engineer
Engineering/Technical
£67,400 £76,300 £85,200 £78,300 £75,900 £80,100
Director
Maintenance Manager/
£42,400 £46,100 £49,700 £46,400 £42,500 £48,400
Engineer
5.5%
versus 5.1% UK
2022 £37,700
average growth
2023 £40,200
2022 £35,900 12
£42,500
10
Inflation (RPI)
2023 £38,900 8
£40,000
6
2024 £42,800
4
£37,500
2
2017
2018
2019
2020
2021
2022
2023
2022 £39,600
2023 £40,600
2024 £45,300
Regional
insight Chris Willsher.
Senior Regional Director, Reed
”
expenditure on plant and machinery jobseekers likely to be in great demand businesses, if not start their own.
will become permanent. Businesses are include engineers proficient in automation,
reviewing where other efficiencies can robotics, and digital technologies. There is
Electrical/Electronics Design
£47,600 £55,500 £63,500 £52,200 £47,900 £58,300
Engineer
Engineering/Technical
£87,300 £102,200 £117,100 £91,400 £87,400 £107,400
Director
Maintenance Manager/
£46,400 £49,500 £52,700 £43,100 £46,100 £52,000
Engineer
5.9%
versus 5.1% UK
2022 £42,500
average growth
2023 £43,800
2022 £33,900 12
£60,000
10
Inflation (RPI)
2023 £36,100 8
£55,000
6
2024 £38,100
4
£50,000
2
2017
2018
2019
2020
2021
2022
2023
2022 £49,700
2023 £52,000
2024 £54,000
Regional
insight Alexandra Martin.
Senior Regional Director, Reed
”
models and practices, and tech is taking renewable energy, green construction, future of the capital.
Electrical/Electronics Design
£39,700 £44,500 £49,200 £41,600 £39,800 £46,800
Engineer
Engineering/Technical
£66,700 £74,800 £82,900 £78,700 £75,800 £78,600
Director
Maintenance Manager/
£41,600 £45,200 £48,900 £47,000 £38,400 £47,400
Engineer
3.5%
versus 5.1% UK
2022 £27,500
average growth
2023 £29,300
2022 £51,800 12
£46,250
10
Inflation (RPI)
2023 £54,100 8
£42,500
6
2024 £54,800
4
£38,750
2
2017
2018
2019
2020
2021
2022
2023
2022 £48,100
2023 £52,300
2024 £54,600
Regional
insight Charlotte Willey.
Senior Regional Manager, Reed
”
manufacturing welcoming a new era of businesses of all sizes together to find meaningful opportunities and benefits.
Electrical/Electronics Design
£44,600 £50,800 £56,900 £43,400 £44,200 £53,400
Engineer
Engineering/Technical
£70,600 £79,300 £88,100 £84,400 £82,400 £83,100
Director
Maintenance Manager/
£44,200 £47,100 £50,100 £45,900 £42,100 £49,500
Engineer
5.7%
versus 5.1% UK
2022 £50,700
average growth
2023 £57,500
2022 £70,900 12
£47,500
10
Inflation (RPI)
2023 £78,300 8
£45,000
6
2024 £85,300
4
£42,500
2
2017
2018
2019
2020
2021
2022
2023
2022 £55,100
2023 £62,100
2024 £64,400
Regional
insight Douglas Turkington.
Regional Director, Reed
”
the region’s economy by £242m. powerhouse, those with experience in workforce for tomorrow’s challenges.
Electrical/Electronics Design
£34,200 £38,500 £42,900 £38,400 £37,300 £40,300
Engineer
Engineering/Technical
£57,400 £64,800 £72,200 £72,600 £71,000 £67,700
Director
Maintenance Manager/
£33,400 £35,700 £37,900 £36,400 £36,100 £37,300
Engineer
2.1%
versus 5.1% UK
2022 £37,300
average growth
2023 £38,400
12
Inflation (RPI)
8
£37,500
6
6% £33,750
4
£30,000 0
2016
2017
2018
2019
2020
2021
2022
2023
Process Engineer £37,400
Regional
insight Paula Gallagher.
Executive Regional Manager, Reed
Try it now
Electrical/Electronics Design
£42,100 £47,700 £53,200 £47,500 £46,000 £50,000
Engineer
Engineering/Technical
£69,600 £79,900 £90,300 £82,200 £85,800 £84,000
Director
Maintenance Manager/
£40,500 £44,000 £47,400 £41,300 £43,700 £46,300
Engineer
5.5%
versus 5.1% UK
2022 £30,800
average growth
2023 £32,400
2022 £73,300 12
£47,500
10
Inflation (RPI)
2023 £73,800 8
£45,000
6
2024 £79,700
4
£42,500
2
2017
2018
2019
2020
2021
2022
2023
2022 £26,100
2023 £26,300
2024 £28,600
Regional
insight Gillian Dolan.
Regional Director, Reed
”
and manufacturing have long been the Scotland is also at the forefront of the future of Scottish industry.
developing autonomous systems. From
Electrical/Electronics Design
£47,400 £53,300 £59,300 £49,500 £47,100 £56,000
Engineer
Engineering/Technical
£76,300 £87,800 £99,300 £86,200 £84,600 £92,200
Director
Maintenance Manager/
£41,800 £46,700 £51,500 £43,600 £44,200 £49,000
Engineer
5.2%
versus 5.1% UK
2022 £26,600
average growth
2023 £29,300
2022 £43,200 12
£51,250
10
Inflation (RPI)
2023 £44,500 8
£47,500
6
2024 £47,100
4
£43,750
2
2017
2018
2019
2020
2021
2022
2023
2022 £36,400
2023 £38,400
2024 £40,800
Regional
insight Grant Rigler.
Executive Regional Director, Reed
”
technological innovation. left behind in the digital adoption race.
New technologies are already changing The pandemic underscored the
working processes, presenting importance of resilient supply chains.
Electrical/Electronics Design
£42,600 £51,400 £60,200 £45,300 £42,500 £54,000
Engineer
Engineering/Technical
£62,100 £75,600 £89,200 £82,400 £83,900 £79,300
Director
Maintenance Manager/
£38,200 £41,000 £43,900 £40,900 £35,300 £43,000
Engineer
6.4%
versus 5.1% UK
2022 £29,200
average growth
2023 £32,500
2022 £48,100 12
£46,250
10
Inflation (RPI)
2023 £52,000 8
£42,500
6
2024 £54,900
4
£38,750
2
2017
2018
2019
2020
2021
2022
2023
2022 £35,300
2023 £40,900
2024 £41,000
Regional
insight George Sofokleous.
Senior Regional Director, Reed
”
that many businesses plan to scale their well placed for success.
Electrical/Electronics Design
£38,700 £42,900 £47,100 £42,400 £38,700 £45,000
Engineer
Engineering/Technical
£67,300 £74,600 £81,800 £77,500 £76,900 £78,300
Director
Maintenance Manager/
£42,300 £44,400 £46,600 £45,600 £40,200 £46,600
Engineer
3.6%
versus 5.1% UK
2022 £52,600
average growth
2023 £53,300
2022 £65,700 12
£42,500
10
Inflation (RPI)
2023 £69,500 8
£40,000
6
2024 £74,300
4
£37,500
2
2017
2018
2019
2020
2021
2022
2023
2022 £23,400
2023 £24,800
2024 £26,700
Regional
insight Becky Hole.
Senior Regional Director, Reed
”
as economically inactive. Vacancies in In the immediate future, employers need robotics, and cyber-physical systems.
Electrical/Electronics Design
£42,700 £48,100 £53,600 £44,900 £42,000 £50,500
Engineer
Engineering/Technical
£70,000 £77,200 £84,400 £89,600 £81,500 £80,900
Director
Maintenance Manager/
£43,900 £46,900 £49,800 £43,200 £42,700 £49,200
Engineer
2.4%
versus 5.1% UK
2022 £39,800
average growth
2023 £42,900
2022 £30,400 12
£47,500
10
Inflation (RPI)
2023 £34,100 8
£45,000
6
2024 £38,100
4
£42,500
2
2017
2018
2019
2020
2021
2022
2023
2022 £46,500
2023 £47,100
2024 £49,100
Regional
insight Chris Willsher.
Senior Regional Director, Reed
”
started in 2021. After a peak in cost ‘green’ economies and working practices. learn new methods.
Electrical/Electronics Design
£42,100 £48,300 £54,500 £42,700 £42,600 £50,700
Engineer
Engineering/Technical
£66,900 £77,600 £88,400 £97,000 £83,300 £81,400
Director
Maintenance Manager/
£43,500 £47,300 £51,100 £46,500 £42,700 £49,600
Engineer
4.1%
versus 5.1% UK
2022 £42,600
average growth
2023 £42,700
2022 £36,900 12
£46,250
10
Inflation (RPI)
2023 £38,700 8
£42,500
6
2024 £40,900
4
£38,750
2
2017
2018
2019
2020
2021
2022
2023
2022 £38,100
2023 £40,300
2024 £44,100
Regional
insight Helen Barber.
Executive Regional Manager, Reed
”
still in demand, digital transformation is many employers face, partnering with jobs market.
Tailored recommendations to
Find out more support your reward strategy
about our
benchmarking Implementing change across
your reward structure
services here
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Engineering & manufacturing | 38
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