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Professional and Financial Services Sector

Key Facts

Click here to view a number of key companies and organisations in Birmingham within the Business and professional services sector.

Employment

There are 103,800 people currently working within the Banking, finance & insurance sector in Birmingham, equal to 21.6% of the total working population. Click here to view more detailed information.

Wages

Average wage rates within the Business and Professional Services sector in Birmingham are highly competitive when compared to the UK as a whole as illustrated in the table below.

Occupation Salary/hourly wage rate (£)
  Highest Median Lowest
Financial Services Staff 40,000 20,000 9,500
Advertising & Marketing Professionals 36,050 20,000 7,500
Office Manager 27,000 20,500 13,000
Legal & Associated Staff 67,500 22,122 11,000
Accountancy Occupations 37,000 18,000 9,000
Architect 46,500 25,500 18,000
Source: BEIC Wages Survey 2001/02

Click here to view more detailed information

Economy

The financial and business services sector is the second largest sector in the West Midlands economy, with an average output growth of 3.9%.

Click here to view more detailed information

Rents - the current top rental value for Grade A space Birmingham stands at £27.50 per sq ft. Top rents for refurbished Grade B space are between £16.00 and £17.50 per sq ft.
Source: Insignia Richard Ellis UK Regional Offices Winter 2002/2003

Academic Excellence

The West Midlands is proud to be home to a number of world-class universities, with a total of 9 in the region. Most have gained international reputations for their quality of teaching and research and for their links and partnerships with major employers, including many overseas companies.  Click here to view more detailed information.

Office Review

Demand - After a record year in 2002 when the total take-up was more than 800,000 sq ft, office take-up in 2003 reached only 365,000 sq ft. However, there is a more optimistic outlook for take-up space in 2004 (see Supply below).

Supply - availability still stands at 1.2 million sq ft, which has remained constant over the past year or so. This will be increased over the next few years, with schemes such as Baskerville House, which will provide 206,000 sq ft of grade A office space. Click here to view ongoing and planned office developments.

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