10 data sources to help set salary budgets
18th August 2025
Samantha Gee
Let’s talk pay review budgets.
I know, it might not be the most exciting of subjects, but it is one we are asked about all the time and is essential for business success.
So, grab yourself a cup of coffee, take a deep breath and prepare to embrace a world of salary success.
If you have good market data – great. That’s the gold standard when it comes to factoring in what you ideally need to keep up with the market. But it can still be a tough balancing act between ensuring you pay enough to attract/retain the talent you need while achieving sustainable affordability.
What other information is helpful? Whilst important, relying on inflation alone is not the answer. A more considered business case that takes account of the economic landscape, alongside both current and predicted pay movements, is needed.
So, as part of our series of ‘Top 10’ blogs celebrating our tenth anniversary, we’ve pulled together a few key data sources we tend to reference that you could also throw into the mix:
1. Office for National Statistics (ONS) – Labour Market Overview
The Labour Market Overview is a monthly publication that includes data on earnings and employment.
2. The ONS – Inflation and Price Indices
The Inflation and Price Indices is a monthly update on inflation figures.
3. Gov.uk – National Minimum/Living Wage
The government publishes details of the current and upcoming National Minimum/Living Wage.
4. Real Living Wage
The Living Wage Foundation publishes details of the current and upcoming Real Living Wage.
5. CIPD – Labour Market Outlook
The CIPD’s Labour Market Outlook is published quarterly and provides a rich data source of employment trends in the UK. Helpfully, it is a forward-looking perspective on the pay awards employers are saying they are likely to give in the year ahead.
6. IES – Labour Market Statistics
IES publish a monthly briefing on Labour Market Statistics that provides commentary on the ONS Labour Force Survey. You can subscribe to this.
7. Research from survey providers
For example Willis Towers Watson’s annual Employee Pay Trends, Korn Ferry’s Global Total Rewards Pulse Survey, World at Work Salary Budget Survey, Brightmine’s Pay Trends, and HR DataHub research.
8. Trading Economics
Trading Economics pulls together lots of statistics from government bodies around the world, providing growth, employment, wages and price information in one place
9. Government publications
Labour Market Reform includes guidance, press releases, statistics and policy papers.
10. Pay and reward blogs
Insights from blogs such as ours cover a wide range of topics with bite-size updates.
We hope this helps inform your business case when it comes to your next budgeting round.
How we can help
At Verditer, we are specialists in creating a transparent approach to pay and reward. Do get in touch if you’d like our help with developing pay and reward strategy, or putting in place pay structures.
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