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Half of UK workers realistically expect a pay increase of more than 10% in 2023   Job market will be dominated by workers trying to secure a pay rise that keeps up with cost-of-living next year 

As a wave of strike action sweeps the UK, it’s not just rail, bus, highway, nurses, health workers and Royal Mail staff who are demanding better pay for 2023. An exclusive survey by the UK’s leading independent job board, CV-Library, reveals that more than half (50.6%) of UK workers are realistically expecting a pay rise of 10% or more in 2023. 

The full details, based on just over 2,000 respondents, are as follows: 

  • 23.8% realistically expect a 1-4% pay increase in 2023 
  • 25.6% realistically expect a 5-9% pay increase in 2023 
  • 26.2% realistically expect a 10-14% pay increase in 2023 
  • 7.8% realistically expect a 15-19% pay increase in 2023 
  • 16.6% realistically expect a 20%+ pay increase in 2023 

Lee Biggins, Founder and CEO of CV-Library commented, “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%.”  

Biggins continues “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.”