Senior retail salaries flourish in spite of economic downturn
The economic downturn is not yet affecting senior retail pay packets. More than 70 per cent of senior retail executives earn in excess of £100,000 and a quarter earn over £200,000, according to recruitment consultancy Harvey Nash's annual recruitment survey.
The percentage of highly paid directors has doubled since last year.
"The credit crunch simply compounds the need for attracting, recruiting and retaining the best leadership talent. Getting the right skills in the right place is the best way to insulate against economic uncertainty and ultimately reignite business growth," says Natalie O'Neill, head of the retail practice at Harvey Nash.
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"Clearly, UK retailers are relying more than ever on the ability of their people to maintain a competitive edge and weather the current economic storm. Salaries are on the up, but without proper retention plans and enticing benefits packages in place, the best people are prepared to move to find the best deal," adds O'Neill.
The survey also showed that 45 per cent expect to move roles in the next two years, with one in 10 senior retail executives already actively seeking new a role.
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