Majority of UK workers expect a pay rise in the new year

(2 minutes to read)

CV-Library: ‘Businesses cannot be expected to fully bridge the cost-of-living gaps for their staff. They also face unprecedented cost increases, and much uncertainty lies ahead’.

With the cost-of-living crisis continuing to have such an impact on employees and businesses alike, latest findings show that the majority of UK workers are expecting a pay rise in 2023.

The CV-Library survey of 2,000 workers revealed that more than half of workers (50.6%) expect this pay rise to be 10% or more.

The findings in full show that:

  • 8% realistically expect a 1-4% pay increase in 2023
  • 6% realistically expect a 5-9% pay increase in 2023
  • 2% realistically expect a 10-14% pay increase in 2023
  • 8% realistically expect a 15-19% pay increase in 2023
  • 6% realistically expect a 20%+ pay increase in 2023

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Founder and CEO of CV-Library, Lee Biggins, said, “To expect a pay increase of more than 10% a year would have previously been a pipe dream or the result of a promotion rather than a realistic expectation but, it’s been 40 years since inflation has hit 11%.

“Businesses cannot be expected to fully bridge the cost-of-living gaps for their staff. They also face unprecedented cost increases, and much uncertainty lies ahead.

“Recruitment is still critical for many, and staff retention is a priority. Company culture, recognition, along with other benefits and incentives play a big part but there’s no escaping that salaries are going to be a key driver in 2023.

“The Government needs to step in and take further action, not only to safeguard British businesses but to kickstart growth in the economy.”

To find out more about contracting please contact Jaime on 01442 795 100 or email

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Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

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