M&S is investing a record £89m in UK retail pay to at least £12 per hour, marking a 26.3% increase since March 2022.
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 worker, this equates to an increase of around £180 per month compared to today’s current rate.
Customer assistants working in London will see the hourly rate rise from £12.05 to £13.15 – a 9.1% increase on last year.
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
The hourly rate for UK team support managers will be boosted from £12.20 to £13.05, and from £13.35 to £14.20 for those in London.
The upmarket retailer 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, while doubling 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.
“Since March 2022, we’ve invested more than £146m in our retail pay offer and increased our standard hourly rate by more than 26%. But creating a great place to work isn’t just about pay; it’s about the overall package and colleagues feeling valued and able to be their best.
“That’s why, in addition to our pay increase, I’m delighted to announce some significant improvements to our family leave policies to support colleagues through life’s big moments.”
