How Pay Advances Work - North-South IT Pay Gap Narrows in Britain - BusinessWeek
IT wages are growing faster up North than in London but tech workers in the capital still enjoy considerably higher salaries than their northerly brethren. Pay rates for tech workers in the North of England are growing 29. But the average yearly wage for IT professionals in the North is now £33,333, compared to £44,200 for a Londoner — meaning tech workers in the North earn 69 per cent of the average salary pocketed by their counterparts in the capital. ReThink Recruitment said northerly regeneration — coupled with the rising cost of living in the South — has helped make the North of England a more desirable location for employers, which in turn has led to increased demand for high tech skills, pushing up wages. Butterfield said IT pros in London are “highly dependent on the health of the financial services industry” — which means the credit crunch could hit London tech workers harder than those in the North. The narrowing of the North-South pay gap for IT workers is in contrast to other areas such as financial services where the gap has widened rapidly in recent years — financial services workers in the North earn just 44 per cent of London salaries, compared to 57 per cent back in 2002, said ReThink Recruitment. Learn more
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