It may qualify as the least surprising news of the year - housebuilders got another pay rise last year. Building's annual housebuilder salary survey - compiled by recruitment firm PSD Group - confirms directors are taking home more money than ever, reaping the rewards of a buoyant sector. The average salary rise across housing director roles was £6,000, to £96,000, while the value of bonuses as a proportion of a director's income ticked up one percentage point to 73%. Managing directors led the way with the largest salary rises on average, of £14,000, topping up their basic income to £156,000. Yet beyond the giddy headline pay figures, the survey also throws light on several significant shifting dynamics within the sector. Among them, that directors would now much rather work for a privately owned developer than a PLC; that skills shortages and persistent problems with the planning system could yet stymie the sector's growth; and that the private rented sector (PRS) is tipped as the sub-sector most likely to see growth outside the top ten housebuilders. Building speaks to industry leaders navigating this changing landscape to find out more.
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