How much is a pay rise worth?
This article started life as a bit of a joke with a good
rank and file activist. We were talking about the appalling pay offer from the
ECA to the JIB, and how much wages have gone down in the industry over the last
couple of years. When he said, half jokingly, that the general rule of thumb
was that you used to be paid about 5 pints an hour, then he asked me how much a
pint was in London. Now obviously the cost of a pint varies from about £3.50 in
Wetherspoons, to £5 if you want to drink somewhere nice that doesn’t smell like
sick (if the companies do ever want to measure our wages by pints, they will
probably pick the 25p a can Tesco value lager). But even at Wetherspoons rates
we’re not getting our 5 pints an hour. What it did get me wondering though is
how much exactly our wages have lagged behind the cost of living, so I decided
to do a little research.
The first thing I had to decide was when to start the
comparison from, I decided to start it from the 2010 pay rise, because that is
when wages really started to stagnate as we subsequently never received a pay
rise for 3 years.