Zoe Woolacott | 27 Apr 2022

Over two-fifths of pay awards are worth 4% or more

The median pay award has risen sharply, with that for the three months to the end of April currently showing at 3.5%, though this may be revised in either direction as we collect more pay awards for this key month. The upper quartile of awards has also risen, from 4.2% in March to 5.0%, according to the latest analysis from IDR. The rise in both metrics has been influenced by the growing proportion of higher-end pay awards worth 4% or more in this latest period, which is based on 70 pay awards effective between 1 February and 30 April 2022, covering over 800,000 employees in total. More than two-fifths (43%) of pay awards are worth 4% or more – up from 35% in March. 

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