Our pay has been devalued by around 21% in the last 9 years (we’ve lost £1 for every every £5 we had in 2009), by deliberately holding increases below inflation. This has saved universities a fortune to spend on other things: over the last five years capital expenditure has increased by 34.9%, operating surpluses have increased by 176.83% and reserves are up by 259.04%.
But as many other employers are also taking advantage of the government policy of wage deflation to push down wages, is the latest offer from universities comparable with pay deals elsewhere?
The Labour Research Department collates information on pay deals. Their latest figures from April show the universities’ offer – 2% for most, with 2.8% for the lowest paid – is significantly below what people are getting from other employers, currently averaging 3% with 3.2% for the lowest paid.
(Source for graphic and list, Payline, Labour Research Department: http://www.lrd.org.uk/index.php?pagid=18; copyright LRD 1994-2018)
Here’s Labour Research Department list of some of the recent pay deals so you can see how this offer compares: