New research has revealed the sectors in the UK that are most and least transparent about advertising salaries when it comes vacant positions.
The study was conducted by People Managing People and analysed more than 4,000 LinkedIn job ads across different sectors. It found that over half (53%) did not provide salary information. Media and entertainment was the industry with the lowest transparency, as 84% of ads omitted salary information. The healthcare sector came in second at 78%. The technology (74%) as well as finance (73%) industries scored poorly on salary transparency.
According to Prospects, most junior positions in the media and entertainment industry start with low rates of pay ranging from PS15,000 to PS25,000 per year depending on their status and number of days worked.
David Rice, a HR expert with People Managing People said that many organisations in media and entertainment industries avoided disclosing their pay because it would reveal just how poorly workers are compensated despite the perception of high wages.
He said: “To maintain people’s interest in ‘chasing a dragon’ of high-wage punditry it’s unlikely that organisations in this field will publicly disclose the fact that the majority of people working in the sector are going to struggle, let’s be honest, to pay their bills.”
Education, where only 12 percent of employees did not reveal their salary, and Telecommunications (20%) were the most transparent. London had the lowest percentage of jobs that included salary details (72%), Edinburgh (54%), and Bristol (52%).
Statista data shows that women earn 7.7% less than male workers, and minorities are paid 25% less on average than white workers. These figures are averages and include roles which are not comparable.
Rice stated that the main reason businesses are reluctant to publicize pay rates is to save money. Women were paid less for similar work than men, and people of ethnic minorities received less pay than white people.
He said that businesses had saved a lot of cash because of the lack of transparency in pay. Businesses can save time by hiring people who are interested and know what they will pay for the job. It saves time during the negotiations, and ensures that new hires are more willing to buy in.
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