Highs and Lows: From Big Bonuses to Small Pay Cheques

Businessman Reading Newspaper on Bench

We’ve got new data from both ends of the pay scale today as the professions yielding this biggest bonuses of 2017 are revealed whilst the struggles of being in a permanently low paid job are also put into numbers. 

One in Four Trapped in Low Paid Jobs

A report by The Telegraph has shown that one in four low paid workers are stuck in their current situation with low chances of moving into higher paid employment. Low pay is particularly prevalent for women in their 20’s who are juggling work with other responsibilities such as childcare. 

There are some that do manage to make the move to a more highly paid job, however the number is one in six, with the vast majority unable to make the move. A number also fluctuate in and out, managing to move into a higher paid job but unable to sustain it. 

There is a geographical split here too – those most likely to succeed in making a permanent move to higher paid employment are in Scotland, those least likely are in the North East. 

Low Paid Jobs and the Economy

While unemployment numbers are low, the number of lowly skilled and lowly paid jobs is high. The Living Wage is making a huge difference for some however the effect of sustained low pay on quality of life is negative and an area of focus for government. 

Big Bonuses for Sales Staff

It’s rare to discuss big city bonuses without mentioning the traders and bankers that have been the cause of so much controversy since 2008. However 2017’s list of top bonuses (based on Glassdoor submissions of 25 bonus reports or more) barely mention the banking sector at all! Ranked from one to ten, the highest bonuses are reported as: 

  1. Enterprise sales manager: £55,000
  2. Global account manager: £33,500
  3. Partner: £30,000
  4. Chief operating officer: £30,000
  5. Chief financial officer: £30,000
  6. Kitchen designer: £26,500
  7. Chief technology officer: £25,000
  8. Chief executive officer: £25,000
  9. Channel manager: £25,000
  10. 1Business development consultant: £23,250

It seems sales jobs, which don’t typically require a formal route in, are coming out on top when it comes to paying big bonuses. 

While the Living Wage is doing great things for affordability on low income, it’s hoped the disparity and divide that big and small wages offer lessens somewhat. Financial worries are extremely stressful and I’m sure we can all agree that the world could do with a little less stress right now!