East Midlands the place to be for retail workers

shutterstock_137147411Retail workers in the East Midlands are each earning an average of £2,039 a year more than the typical salary for the region, according to research conducted by global recruiter, Randstad.

The recruiter analysed more than 870,000 CVs and salaries across a variety of industries – including more than 17,500 from the retail sector – to compare them to average wages in each region. This then enabled Randstad to establish which areas were the most lucrative or unprofitable for different professions when compared to the regional average wage.

The research found that the average yearly salary of a retail worker in the East Midlands amounted to £27,059. This equates to a comparative salary premium of 7.5%, which adds up to £2,039 per annum in cash terms.

Ruth Jacobs, managing director of Randstad Business Support, said: “When it comes to retail sector salaries, the East Midlands is definitely bucking the trend. Out of the 11 regions surveyed, nine reported that the average salary for someone working in retail is lower than the average salary across all sectors, with one region even showing that retail workers earn an average salary which is more than 14% below that region’s overall average.”

Region Average regional salary – retail sector Comparative salary
premium
Cash
Equivalent
East Midlands £27,059 7.5% £2,039
Eastern England £27,445 3.6% £978
North West England £26,051 2.8% £736
Yorkshire And The Humber £24,843 0.8% £202
West Midlands £25,346 -0.1% -£16
South East England £25,786 -4.8% -£1,239
London £31,945 -5.3% -£1,696
Wales £22,323 -5.9% -£1,324
Scotland £22,973 -7% -£1,604
South West England £23,901 -7.7% -£1,851
North East England £20,990 -14.2% -£2,977

Table: Retail salaries by region

Retail salary highest in London

The research also highlights that, on average, the highest-paid retail workers were in London, where workers in that sector netted £31,945. By contrast, the East Midlands was the third highest-paying place for retail workers out of the 11 regions.

However, the average retail salary in the East Midlands outstripped the region’s average salary by 7.5%, whereas the average retail salary in London represented a discount of -5.3% on the capital’s all-sector average salary.

Ruth Jacobs, added: “It’s no surprise that London’s retail workers command a well-above-average salary – the capital is home to some of the world’s biggest, and most expensive, retailers, and those working for them are likely to be well compensated for their time. However, given the high cost of living in the capital many retail workers may decide that their salary will stretch further elsewhere in the UK, even if it’s somewhat lower in real terms.

“While it’s fairly unrealistic to assume that retail workers from across the UK will suddenly relocate to the Midlands to benefit from the sizeable salary premium enjoyed by the sector there, workers may make small geographic moves to gain a larger salary.”

Keeping up with the Joneses

Randstad conducted the research to accompany the launch of its new Salary Checker tool, giving workers in all sectors the opportunity to compare their salary with those of their professional and regional peers.

Besides establishing their employment value, users of the tool will be able establish how their tax payments get used and even how their salaries compare to celebrities. Those who are dissatisfied with the results can search the best-paid jobs in their area and browse new opportunities elsewhere in the UK.

The microsite will also include job comparison tools centred on the importance of salary and the impact it has on job fulfilment.

Ruth Jacobs concluded: “Given the famous British reserve on matters relating to salary, ascertaining one’s true employment value can be challenging for many workers. This means that retail workers rely on inaccurate national averages to find out what is a fair wage for their role. This new tool should provide them with a far more accurate picture of their workplace value, besides preparing them for the next move should they feel like the time is right to change roles.”

Employees wishing to establish what salary they deserve to be paid can visit: https://www.randstad.co.uk/job-seeker/salary-checker/