On 3 March, Marks & Spencer (M&S) announced a 6.4% pay rise for its 55,000 UK store staff, effective 1 April—nearly double the 3.4% inflation rate recorded in December. Hourly rates will increase to £13.41 nationally and £14.74 in London for employees aged 21 and over. Including broader employee benefits—such as an unlimited 20% discount on M&S products, share schemes, and pension contributions of up to 12%—the retailer estimates the total reward package could be worth up to £16.33 per hour.
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Article authors
Nathalie Tran
Editor-in-Chief Mind HR