Accountancy graduates searching for their first job should not expect increases in pay levels to match those of years gone by, if recent research is anything to go by.
The median rise in earnings for UK employees stands at one per cent, a study revealed yesterday (August 27th).
According to the Incomes Data Service (IDS) survey, it is now at the lowest level since electronic records began.
Commenting, Institute for Public Policy Research senior economist Tony Dolphin said the figures show just how much pressure firms are under.
"There's a good side to it, I guess, in that it shows that the measures taken in the eighties and nineties to make the labour market more flexible are working in that you've got people prepared to accept no pay rise," he stated.
Mr Dolphin added workers in some cases were more willing to accept a pay freeze than losing their jobs.
He added that while it was fine just now, it will be interesting to see how pay rises change when the recession comes to an end.
