Business Support of 2022: The Lucrative Year for New Starters

The past few years have brought us a tumultuous business and recruitment landscape with uncertain job security, furlough schemes and pay freezes. The pandemic was undoubtedly a significant driver of rapid change within the PA profession with companies now re-evaluating hiring and retention practices. 

SecsintheCity, as the UK’s only specialist site for Personal Assistants, Executive Assistants and Office Managers has witnessed the ebbs and flows of the business support landscape. Nonetheless, over the last 12 months, we have seen the resilience of the industry, with 2022 demonstrating a peak in pay rises, a boom in bonuses and job security moving away from Covid-related worries.  

A Fresh Start:  

Thanks to the annual SecsintheCity salary survey, summarising the insights of over 1,000 EAs, PAs and business support executives, we can report that professionals with less than a year’s experience enjoyed a generous 18% year-on-year wage increase. This pay rise demonstrates that employers are prepared to pay for fresh talent to improve employee retention.  

Tray Durrant, Executive Director of Bain and Gray, specialising in boutique secretarial and PA recruitment, noted how ‘historically the starting salary for new business support professionals stood at an average of £24,000 per annum’. With the average earnings now reaching £31,071 employers are moving away from the stigma of business support being limited for individuals simply looking for ‘something to put on their CV after university’, and instead presenting it as a lucrative profession for graduates.  

The Resounding Benefits of Working in Business Support:  

As covid-related pressures lifted, our audience felt greater security in their present position. 63% to be exact, a 25% rise from our 2021 salary survey. Most business support professionals are confidently back at work, with 44% of our survey respondents receiving healthier wages and pay rises, just over half being granted a bonus and more comprehensive benefit packages on display. The highest bonus noted was 30% on the instruction of the role, with 15-20% being offered as an average starting incentive. 

Candidates have seen a ‘greater pool of benefits to choose from’, according to Tray Durrant, with hybrid working proving the most popular. With 68% of Bain and Gray candidates requesting a flexible working model, will we see a conservative or driven approach from employers in the future? 

Thriving Sectors:  

2022 has brought us salary increases across the board, with Banking and Finance experiencing an 11% rise, bringing average wages to £51,265. The insurance and advertising sectors also made a comeback, with those in Insurance taking home an average salary of £46,486 (up 14%) and Advertising £45,172 (up 10%) respectively.  

Areas like Fashion and Luxury goods saw the strongest pay surges, with the Fashion industry seeing a 64% rise, alongside a 31% rise in Luxury goods. Following a year of major salary cuts and dwindling headcounts, are current staff simply earning more to cover their former colleagues’ workloads? 

With candidates in short supply, we’ve seen employers raise the stakes. Smaller companies, who can’t provide the comprehensive benefits package, are offering a higher wage as a standard, to ensure that they attract the best candidates in the reduced market.  

The Multiple Boss Movement:  

As a business support professional looking at career progression, it’s helpful to note that those working for a single executive are graced with a £6,000 higher average salary, with those working as a Private PA taking home the top average salary of £50,536, an 11% annual increase. 

The In-Demand Location: 

As the UK commenced post-Covid recovery, salaries increased across most of our locations surveyed. London reclaimed the top earnings spot from Australasia, boasting a 7% uplift on 2021 figures. The rising wages for Business Support Professionals resulted in an average pay of £43,804 per annum, with those working in Central London taking home £45,722.  

Regionally, Wales took the lead in the recovery race with a 45% surge, lifting typical earnings from £24,166 to £35,000 in just 12 months. 

After a year of salary growth, the Business Support world has proved to be a lucrative industry for new starters to join. With fewer candidates in the market, we’ve seen employers up the salaries, bonuses and offer more comprehensive benefits.  

For more career advice and industry insights, please head over to the SecsintheCity blog.