E-business staff are set for a pay bonanza with rises of more than twice the national average, according to a survey of 71 organisations.
The latest Hay Management Consultants’ E-People survey shows that increases in base salaries in e-businesses are set to average 9.7% when next reviewed, compared with an average projected increase across the industrial and service sector of 3.6%. The average increase for e-people over the 12 months to July was 7.2%.
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The survey also showed that the base pay of chief executives and heads of e-businesses (whether an in-house department, a business unit within a larger organisation or an Internet start-up) will rise even more sharply, with increases expected to average 13.6%. Hay suggested that e-businesses are planning these pay rises in a bid to retain staff in the face of continuing bad news stories about prospects for the sector.
Iain Smith, a management consultant at Hay, said, “The greater risk of working for a dotcom was already resulting in much higher pay for the majority of roles, compared with their old economy equivalents, when we conducted our first survey in January 2000. Since then, people have become more aware of the risks involved in dotcom companies.”