Cov offers some of the highest salaries in UK
COVENTRY’S economic growth has received a further boost with the news the city offers some of the highest salaries in the UK.
Research conducted by job search engine Adzuna has revealed that Coventry is among the top 10 best places to live in the UK if you are looking for a high salary.
At the end of last year the average salary in Coventry was £33,542, almost £3,000 more than the UK average salary of £30,816, according to Adzuna.
Not surprisingly London was top of the list with an average salary of £39,758.
Coventry was ranked ninth, in between Guildford (£33,733) and Southend-on-Sea (£32,835).
The city also ranked much higher than surrounding towns and cities including Wolverhampton - in 41st place with an average salary of £29,340 - and Northampton, in 48th place with an average salary of £28,437. The city also falls into the top 10 for the highest positive salary change in the second half of 2017.
Coventry saw a 6.09% increase in average salaries over the second half of 2017 (JuneDecember 2017) and an increase of 6.91% across the full year (Dec’16-Dec’17)
This meant that Coventry did better than major cosmopolitan hubs including Manchester (1.91%) and Birmingham (3.07%)
Salaries in Coventry are even rising at well above the rate of those in the capital with London’s six month salary change falling in at a mere 1.34%.
The data presented was collected from 56 major towns and cities across the UK between December 2016 and December 2017.
It was founded in 2011 by Andrew Hunter and Doug Monro, formerly of eBay, Gumtree, Qype and Zoopla and is backed by leading venture capital firms Passion Capital, The Accelerator Group and Index Ventures.
Welcoming the news Ian O’Donnell, West Midlands Combined Authority lead for the Midlands branch of the Federation of Small Businesses, said: “It’s fantastic to see wage growth in the Coventry area, demonstrating a further boost for both businesses and workers.
“These figures are testament to all businesses, particularly small firms, working hard to create more highly skilled jobs and becoming more productive.
“With Coventry’s year as City of Culture on the horizon, small businesses have a lot to look forward to and will really be able to benefit from a boost in economic growth, increased tourist footfall and regeneration opportunities.”
Adzuna is a search engine for job ads that aims to list every job, everywhere.
The company’s data also powers the Number 10 Dashboard, used by the Prime Minister and senior civil servants to keep track of economic growth on a daily basis.
It is also provided to the Office for National Statistics to help it build real-time labour market indices.