A new report out today, compiled by InterExec, the Confidential Agent for executives seeking over £150k, has revealed that almost two-thirds of senior executive headhunters are seeing redundant senior executives taking pay cuts.
The report, which is based on a survey carried out by InterExec among 100 of the UK’s leading headhunters, has shown that 64% of headhunters are seeing redundant senior executives taking pay cuts, with almost a quarter (23%) of those who are taking a pay cut, taking a drop in salary by more than 20%.
Kit Scott Brown, chief executive of InterExec, commented: “Many headhunters are finding that redundant senior executives are having to take a significant pay cut in order to get their next job. This trend, together with the austerity cuts in the Public sector, indicate that some senior executives will struggle to find well-paid positions. Despite this, some sectors are proving to be more buoyant than others and senior executives that are highly valued in their role are still able to command higher salaries.”
