AS the job market soars to new peaks of activity, annual salaries are rising
more strongly than they have for some years. Average increases in salary this
year will be in the region of 3.5 per cent. New graduates leaving university
this summer can expect salaries in the broad range from 拢14 000 to
拢26 000. Some of those starting a career in financial services will also
be offered 鈥済olden hellos鈥� of up to 拢3000 simply for signing up to
join.
According to the Association of Graduate Recruiters鈥� (AGR) annual survey of
what salary 264 of its members paid people graduating in 1997, the median was
拢15 500, which is expected to rise this year to around 拢16 000. New
PhDs are being offered salaries in the range of 拢17 000 to 拢20 000
and those with Master鈥檚 degrees 拢16 500 to 拢18 000. And recruiters
are placing increasing emphasis on work experience. At first-degree level, they
pay more to recruits who have relevant work experience鈥攁veraging
拢750 a year more than the graduate median salary for those who have
completed sandwich courses, taken a placement or undertaken relevant vacation
work.
Pay varies markedly from one part of Britain to another. Three quarters of
the employers in the AGR survey pay a London allowance in the region of
拢2500
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At the top end of the pay league are the international investment banks,
where starting salary for a trainee is typically 拢24 000 plus a bonus.
Close behind are the strategic and IT management consultancy firms, offering
similar salaries but without bonuses. The large chartered accountancy practices
in London are currently offering new graduate trainees salaries in the range of
拢19 000 to 拢21 000. Perhaps surprising is that the large retail
chains are not far behind, John Lewis, for example is offering the selected few
gaining a place on its management training scheme salaries of up to 拢20
000.
鈥淕ood for them鈥�, we hear you say. But what of the remuneration of scientists
and engineers? Industrial firms in energy, water, oil, pharmaceuticals and
fast-moving consumer goods are offering the highest salaries. National Grid,
Coventry, pays its trainee engineers 拢17 500, Dow Corning, Barry in South
Wales, 拢20 000, Varity Perkins, Peterborough, 拢16 200, Tate and
Lyle, London, 拢18 500, and Mars Electronics, Wokingham, 拢16 500.
According to the AGR survey, the average starting salaries for graduate
trainees in the energy and water industries are 拢17 200 and the chemicals
industry 拢16 600. The electronics and food industries are paying 拢16
000 and the engineering industry 拢15 500, while public sector jobs offer
in the region of 拢15 200.
In the current job market, employers are just as concerned to retain the
services of the best people as they are to recruit them. Paying a competitive
salary is an important ingredient in the motivation process. AGR found that
graduate trainees who started their careers four years ago on a median salary of
拢13 500 were earning 拢21 000 by 1997, with high flyers being paid up
to 拢31 000. Trainees of two years ago whose median starting salary was
拢14 750 had received rises taking their pay up to 拢17 000 later,
with the top 10 per cent receiving around 拢22 000. Poor pay performers
among the 1994 starters鈥攖hose in the bottom 10 per cent of the pay
league鈥攚ere earning 拢16 500 in 1997 while those graduates who
started work in 1996 had reached 拢15 000.
Choose the PhD route into research and you will need to survive on a research
council grant for at least three years. The Engineering and Physical Sciences
Research Council at present pays tax-free research studentships of 拢5295
(拢6855 in London). Emerge with your brand new PhD and if you stay in
university research as a postdoctoral researcher your salary will be at the
lower end of the scale from 拢15 159 up to 拢22 785 in an old
university, or 拢14 648 to 拢22 350 in a new one. These scales are now
under review.
Despite the continuing acute shortage of science teachers, particularly in
physics, the much publicised 拢40 000 salary which teachers with 鈥渁dvanced
skills鈥� might earn in the future, has yet to make an impact. A science graduate
straight out of teacher training will earn 拢14 751 on a scale which rises
to a maximum of 拢35 166. Top head teachers managing our largest
comprehensives can earn up to 拢58 548.
Attracted to a more academic career? Complete three years of postdoctoral
research on the salaries mentioned here and you could become a university
lecturer on a scale which runs from 拢16 927 to 拢21 016. University
professors salaries start at 拢33 382. In the old universities they average
拢40 181 and in the new ones 拢37 541. University salaries are due to
rise, however, in April.
Civil Service laboratories used to pay their staff on nationally agreed pay
scales. Not now. Join the Ministry of Defence as a scientific officer and,
according to the Institution of Professionals, Managers and Specialists (IPMS),
London, your salary will be in the range of 拢11 919 to 拢21 214. The
Defence Evaluation and Research Agency is now offering new graduate engineers a
minimum of 拢15 000. A similar job at the Environment Agency pays from
拢11 606 up to 拢20 080. Typical salaries for higher scientific
officers are between 拢14 000 and 拢25 000. The rewards for senior
scientific officers (SSO) range up to 拢33 655 at the Treasury and
拢31 406 at the Ministry of Defence.
Senior managers in the Civil Service, whether they are scientists or
administrators, are paid on similar pay bands. Get promoted from SSO to grade 7
and your pay will have a ceiling of between 拢40 500 and 拢46 000. At
this level the Engineering and Physical Sciences Research Council is one of the
best payers, the Forensic Science Service one of the worst. Be upwardly mobile
to grade 6 and your pay could reach 拢50 199 at the Office of National
Statistics but only 拢45 600 at the Biotechnology and Biological Sciences
Research Council. Clearly you have to choose your public sector employer with
some care.
Each year I mention in these analyses the plight of medical laboratory
scientific officers (MLSO) working in hospital laboratories. Trainees are paid
on a range from 拢7202 to 拢9437. After a minimum two years鈥� training
they can be promoted to the MLSO grade 1 where their pay ranges from 拢11
380 to 拢16 847. There can be three further professional grades and the
managers of these laboratories can earn up to 拢31 554. To be stuck with
such a limited pay structure must be thoroughly demoralising for a career-minded
MLSO.
By contrast, trainee clinical scientists in the National Health Service, such
as clinical biochemists, start on a range from 拢12 800 rising to 拢16
846. Experienced scientists are promoted to a salary range which rises to
拢32 818, and senior members of the profession can earn up to 拢52
450. Trainee administrators in the NHS commence their careers on 拢14 750.
However, the government says that it intends to cut back their numbers.