A survey by recruiters Hays Insurance reveals 40% of jobseekers in the industry believe the salaries on offer are below market rates.

The same respondents also believe there is no room to negotiate with employers on pay.

A further 29% said rates were below optimal levels, but thought employers were prepared to negotiate, while 31% of respondents were happy with what they were offered.

Hays Insurance Senior Regional Director Jane McNeill says candidates are adjusting their salary expectations as more opportunities become available.

“While widespread salary increases are not yet happening, employers are prepared to take other steps to help try to attract candidates,” she said, citing benefits such as bonuses and professional development.

“Moving forward, employers will need to re-examine salaries in order to secure the right candidates, particularly as counter-offers rise in number.”