Ikea staff set to share £25m bonus pot and 2024 pay rise

Ikea UK employees will share a £25.6m bonus pot this month while hourly-paid staff will see a 10% pay rise in 2024.

Eligible staff will receive a year-end bonus of at least a month’s pay in time for Christmas.

Hourly-paid employees will see two 5% increases next year, while salaried staff will see an average rise of 5%.

As the largest accredited Living Wage Foundation retailer, Ikea has pledged to meet the new Real Living Wage rate. Staff in London will be paid £13.15 an hour, those at the Lakeside, Reading and Milton Keynes stores will see rates increase from £11.45 to £12.60 under the ‘outer London’ rate introduced last year while staff elsewhere will be paid £12 an hour.

‘At Ikea, we’ve always been committed to caring for our co-workers, particularly during challenging times, which is why we’re announcing further investment to enhance their financial stability and security. Although we see inflation starting to ease, the cost-of-living continues to have a very real impact. We recognise that when our co-workers grow, so does Ikea, and our aim is to ensure that co-workers feel supported and valued through a variety of benefits that contribute to their financial, mental and physical wellbeing; supporting our vision to create a better everyday life for the many people,’ says Darren Taylor, Ikea UK and Ireland country people and culture manager.

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