Yahoo Finance Now is the best time to get a pay rise
Want a pay rise? Now is a good time to go looking for one.
But rather than trying for a pay rise with your existing employer, it might be easier to find more money elsewhere, figures show.
Research by job site CV-Library has revealed salaries for new roles in the UK have risen by 4.1% since last year, making now a great time to earn more.
READ MORE: How to give yourself a pay rise
The findings, which analysed job market data from April with the same period in 2018, found Liverpool was the city to see the biggest hike in pay, making it the best place for securing a pay rise right now.
Leeds (12.7%), Edinburgh (11.8%), Newcastle (11.4%) and Manchester (5.6%) also saw significant increases.
Lee Biggins, CEO and founder of CV-Library, said: “With employers offering higher salaries for new roles across the country, there is no better time than the present to start applying for jobs, even if competition is high.
READ MORE: UK jobs with fastest-rising pay of 2019
Discussing pay with your manager can be daunting, and there’s always a chance they’ll say no.
However, Biggins said, “With salaries rising for new roles, you stand a far better chance getting more money through applying for a new job.”
But be wary of increased competition from other job hunters! CV-library found job applications have jumped up by 8.6% year-on-year.
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Bristol is the UK city with the biggest rise in applications, at 15%. Brighton (14.4%), London (12.8%), Birmingham (10.5%) and Manchester (9.2%) round out the top five.
At the same time, the amount of jobs on offer rose at a far slower rate of just 1.4% year-on-year.
Biggins said: “It seems that employers are prioritising the ‘quality over quantity’ approach in their recruiting efforts. With vacancies increasing at a far slower rate, candidates face a lot more competition as more people apply for less jobs. This means it’s imperative to stand out from the crowd.
READ MORE: 14 in-demand jobs that pay over $100,000 and are hiring now
“So consider what you can do to set yourself apart. Learn new skills, gain impressive qualifications and certificates, and complete more courses. With skills shortages still rife across the UK, qualified candidates are set to be rewarded handsomely.
“If you’re qualified enough, now could be a great time to get a pay rise!”
