As seen within the findings, historically, a region could affect the level of pay offered, however, with a huge shift to homeworking/flexible working in the future, could an individual’s location stop influencing this? In future reports this anomaly could potentially be removed.
Delving into salary averages further, the salary differences between those employed within the public sector and private sector see a considerable variance, especially those at apprenticeship level.
Public sector funding is controlled at government level using taxpayers’ money, whereas private businesses have control of their own budgets. In addition, those in the private sector have the potential to increase income through profit, and thus can invest more into their employees. However, salaries form just part of an individual’s remuneration package, with benefits being offered to employees that would increase their overall remuneration. Benefits offered will be explored further in this report which could explain the difference in base salaries across the two sectors.
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