UK financial services sector salaries climbed an average 4.2% in 2007, according to Watson Wyatt figures.
Total cash collected by city staff jumped between 1.2% and 11.3% last year, with those working in investment management receiving the highest cash raise.
The Watson Wyatt report found salaries climbed at just over 4%, regardless of seniority, although directors and senior managers did pocket a 7.2% increase.
Total cash growth for staff in sales leapt 7.9%; 7.7% in commercial/corporate banking and 7.4% in actuarial.
The report also discovered 18% of companies look to position base pay above the median, with 43% hoping to make above market rises on a total cash basis.
Watson Wyatt senior consultant Iain Nichols says base pay increases are comparatively consistent across organisations.
"The differentiation is made through bonus payments and comes as a result of the desire to differentiate individual performance as well as the financial performance of the organisation, with salaries rising above average where there is demand for specific skills and abilities," he says.
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