57% Of Us Don't Expect a Pay Rise

A new survey is suggesting that more than half of the UK work force is not expecting to receive a pay rise this year.  It shows that a huge 16 million of us are expecting to finish the year on the same salary we started with.

The YouGov survey has also shown that a further 9 million are expecting a rise, however they believe it will undercut the rate of inflation.

This would mean that only 3 million (around 11%) are expecting a pay rise substantial enough to improve their financial status.

Amongst the people that do expect to see an increase in salary, teachers, nurses and civil servants are expecting to receive the smallest rise.

More results from the survey show that around a third of UK consumers expect to be worse of financially at the end of this year than they were at the end of last year, whilst worryingly more than 5 million consumers actually have greater expenditure than their income.  The majority of these are using overdraft facilities to cover the difference.

Ann Robinson from uSwitch, the company that commissioned the survey has said, "consumers face a double threat - the government is toying with measures such as raising taxes to reduce the public deficit, which will have a direct impact on personal finances,"

"When coupled with lower than anticipated salary increases, it can only mean that we are in for a bumpy ride, and the situation could get worse before it gets better."

The online survey has been conducted throughout February using over 4000 adults.

Posted at 11:22AM Mar 02, 2010 by Marc Stenton in The Economy  |  Comments[0]