M&S has made its biggest-ever investment in pay and family leave policies, raising UK retail pay to at least £12 per hour, marking a 26.3% increase since March 2022.
The retail giant’s £89m investment means that from 1 April, the rate of pay for UK customer assistants will increase from £10.90 to £12 per hour, representing a 10.1% increase on last year.
For a full-time colleague, this equates to an increase of around £180 per month compared to today’s current rate.
London shop assistants will see the hourly rate rise from £12.05 to £13.15, representing a 9.1% increase on last year while team support managers will also get an increase, with their pay rising from £12.20 to £13.05 an hour.
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The company is also making a further £5m annual investment to enhance its maternity, paternity, and adoption policies.
From 1 April, M&S will be one of the first retailers to introduce six weeks’ paternity leave at full pay, and it will also double maternity and adoption leave to 26 weeks – also at full pay.
Chief executive Stuart Machin said: “Our vision is to be the most trusted retailer – and that starts with being the most trusted employer.
“That’s why today we’re making our biggest ever investment in our retail pay offer to recognise our colleagues for the vital role they play each day. It means that since March 2022, we’ve invested more than £146m in our retail pay offer and increased our standard hourly rate by more than 26%.”
M&S is following other retailers in increasing pay amid increased inflation.
Earlier this year, Lidl increased entry-level rates of pay for staff from £11.40 to £12 while rival Aldi also announced pay rises, with shop assistant hourly rates hiked to £12.95 an hour.
Earlier this year, M&S staff benefitted from bumper payouts under its share save scheme after the retailer celebrated a stellar Christmas.
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