New research by pay analysts IRS has found that pay increases have averaged 3.5 per cent so far this year, which represents the same level as the close of 2007. The study looked at the details of some 130 pay rises awarded to nearly 150,000 employees. Over half of the of the pay increases in the three months leading up to January were higher than the previous few months with only one in four being lower, which will be reassuring to recent graduates. However, pay awards in the public sector were found to be a percentage point below the 3.5 per cent found in the private sector over the last 12 months. IRS Pay and Benefits editor Sheila Attwood commented: "Our findings this month will be welcome reading for the Bank of England. While pay settlements in the three months to the end of January 2008 are holding up at 3.5 per cent, closer analysis of just those effective in January reveals a weakening of the pay bargaining position." She also noted that January's increase in headline inflation would "continue to put pressure on employers" to reflect the growing cost of living in their pay rises. Pareto - Graduate Media Sales Jobs with the UK's largest Media companies earning up to £35k OTE
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