The 10 jobs with the biggest wage increases in 2024 revealed: is yours on the list?

Finding a job that offers regular pay increases, or at least opportunities to move up, can be easier said than done.

For many, aiming for higher wages by 2025 might have ended up on their list of resolutions.

But it’s not always easy to know which careers currently offer the opportunity for above-inflation pay increases.

Research shows that companies active in the engineering, manufacturing, technology, legal and finance sectors will have the highest wage increases in 2024.

Fabricators and welders received the highest pay rise, according to Hays data shown exclusively to This is Money, receiving an average increase of 9.5 percent in 2024. The average salary for these roles will be £33,500 in 2024.

This is a pay increase of approximately £3,000 on the current average salary.

Most welders and fabricators enter these jobs by completing an apprenticeship or obtaining certification through an industry organization.

Meanwhile, risk experts, who earn an average of £55,400, saw a rise of 9.2 per cent, equating to an increase of almost £5,000.

To become a risk adjuster, you will likely need insurance experience and recognized industry qualifications, or access to a graduate program after completing university.

Pam Lindsay-Dunn, Chief Operating Officer of Hays UK and Ireland, told This is Money: ‘Despite a tough labor market, Britain still faces a crucial skills shortage.

‘Our top ten salary increases from 2024 highlight the areas where talent is most needed.

“While these positions may not be the highest paying, they clearly demonstrate where skilled professionals are in high demand.”

“Technical roles continue to dominate our salary increase charts, driven by an aging workforce and a lack of new entrants into the workplace. In the technology sector, cyber roles are more important than ever as organizations strive to protect themselves from risk.

‘Traditional finance and accounting skills remain in demand, with salaries for partially qualified accountants rising steadily.’

If you’re looking for a career change, like many, it may be worth considering a position that appears to offer generous pay increases.

In fact, research from TotalJobs shows that as many as 42 percent of people are looking for a job or plan to find a new job by 2025, while 13 percent are actively looking for a new job.

Of those looking for a fresh start, the data indicates that on average they will only consider a position that offers a 13 percent pay increase.

Despite this, the research – which analyzed 10,000 salaries – shows that UK salaries have increased by just 2.4 percent from 2024, less than the average increase of 3.5 percent in 2023.

The highest pay increase in terms of value was awarded to technology cyber managers. Although they received an average pay rise of 8.5 per cent, they generally earned £100,500 in 2024, meaning they saw an average increase of almost £8,000.

Commercial and industrial lawyers with between seven and 10 years of post-qualification experience, who typically earn £87,625, and software architects, who earn an average of £83,444, also saw high-end pay increases, receiving 7.6 percent and 7.2 percent respectively .

Lawyers with just one year of post-qualification experience could only command a 7.2 percent pay increase, although this is still the eight highest average pay increase.

‘In the legal field, middleweight and newly qualified lawyers are in high demand, not only in the UK but also in the US, driving salaries up. Overall, employers are doing their best to increase wages to attract and retain talent in this challenging market,” said Lindsay-Dunn.

Meanwhile, industrial engineers and supervisors were on the receiving end of higher percentage increases despite lower salaries, with workers taking home pay increases of 8.6 percent and 8.0 percent each.

Notably, the positions that received the highest pay increases last year were not also in the top ten, so there is no guarantee that they will pay the same in the future.

In 2023, the highest pay increases were seen by machine learning scientists, who saw an increase of 11.9 percent, as well as code welders, information security architects, energy managers and bolt technicians.