Are you curious about the average salary in the UK? Understanding the average wage in the UK is crucial, whether you’re planning your career path or simply seeking insights into the UK labour market. Forbes has issued the report based on data from the Office for National Statistics (ONS), which provides a detailed breakdown of median salary in the UK. This comprehensive report examines income patterns across various factors, including age, gender, region, education level, and industry sector. It highlights the average earnings of different age groups and sheds light on the disparities and trends within the workforce. Understanding these statistics can provide valuable context for your decisions if you’re considering working or studying in the UK.
Minimum Wage in the UK
| Year | 21 and over | Age 18 to 20 | Under 18 |
|---|---|---|---|
| 2024 | £11.44 | £8.60 | £6.40 |
| 2025 | £12.21 | £10.00 | £7.55 |
The Average Salary in the UK
Figures from the Office for National Statistics (ONS) show that the average weekly salary across all sectors in the UK (England and Wales) was £728, or around £37,430 per annum. Median gross annual earnings for full-time employees were £37,430 in April 2024, compared with £35,004 in April 2023, an increase of 6.9%. Wage growth is currently at 4.9 per cent, which is higher than the current inflation rate of 1.7 per cent. This means that real wages are rising despite price increases. In addition, the average chief executive of the latest Forbes Top 100 companies is paid £4.19 million, which is 116 times what the average worker earns.
Average Salary UK by Age
Data from the Office for National Statistics (ONS) in the UK shows that age significantly impacts earnings, with average weekly wages rising as people get older until they reach the age of 50. Salaries rose during the Britons’ 20s, 30s, and 40s, suggesting that the most significant career progression usually occurred during these decades, fuelled by factors such as skills and training, educational attainment, experience, job changes, and promotions. This is important information for both employers and workers. It emphasises the importance of skills development and work experience in closing the earnings gap. As young people mature, expand their skills and gain work experience, their earning potential typically increases significantly, ultimately driving overall salary growth throughout their careers.
| Age | Weekly Wage (median) Full timegross pay | Annual Salary |
|---|---|---|
| 18-21 | £470 | £24,440 |
| 22-29 | £621 | £32,292 |
| 30-39 | £769 | £39,988 |
| 40-49 | £823 | £42,796 |
| 50-59 | £778 | £40,456 |
| 60+ | £693 | £36,036 |
Average Salary UK by Gender
In April 2024, median hourly earnings excluding overtime for full-time employees were £19.24 for men and £17.88 for women; for part-time employees, they were £13.00 for men and £13.40 for women. Despite the UK Government’s ongoing commitment to closing the gender pay gap, there is still work to be done. In April 2024, the gender pay gap was 7.0 per cent, down from 7.5 per cent in 2023. Men’s average weekly pay is higher than women’s across all age groups in full-time work. The gender pay gap was highest in skilled trades occupations and lowest in the caring, leisure and other service occupations. In 2024, the gap widens significantly from the mid-30s to the mid-60s, undoubtedly because more women than men have more disruptions to their career paths due to caring responsibilities for children or older relatives. Women are more likely to interrupt their careers and re-enter the labour market in lower-paid positions.
| Category | Men | Women |
|---|---|---|
| Average Salary | £18.26 | £15.87 |
| Full-time Median | £19.24 | £17.88 |
| Part-time Median | £13.00 | £13.40 |
Average Salary UK by Industry
Salary differences between occupations are also significant. Management salaries are generally higher, for example, in finance, law and information technology, where salaries are usually well above the national average. In contrast, salaries are lowest in the leisure and tourism sector, where jobs are usually concentrated in the service sector and are mostly part-time or temporary, and pay levels are therefore limited. Compared to April 2023, median weekly earnings for full-time employees increased in April 2024 across all sector-level industries, with the Accommodation and Food Service Activities industry experiencing the largest increase (9.8 per cent). Here are the top 10 highest-paying industries in the UK.
| Job | Average Annual Salary |
|---|---|
| Chief Executives and Senior Officials | £84,131 |
| Marketing, Sales, and Advertising Directors | £83,015 |
| Information Technology Directors | £80,000 |
| Public Relations and Communications Directors | £79,886 |
| Directors in Logistics, Warehousing and Transport | £72,177 |
| Aircraft Pilots and Air Traffic Controllers | £71,676 |
| Financial Managers and Directors | £70,000 |
| Functional Managers and Directors NEC | £69,933 |
| Transport Associate Professionals | £66,278 |
| Specialist Medical Practitioners | £66,123 |
Average Salary UK by Education Level
The level of education also significantly affects the level of wages. Generally, the higher the level of education, the higher the salary received with a university degree or equivalent: around £30,524 per annum. Figures show that workers with an undergraduate degree earn, on average, 113 per cent more than residents with no qualifications and 60 per cent more than those who stopped formal education after gaining their A-Levels.
Research by the Institute for Fiscal Studies (IFS) also found that university graduates are better off financially during their working lives than those who did not go to university, with men earning on average £130,000 more and women £100,000 more. And around 10 per cent of the most rewarded graduates will have received an average of around £500,000 in return for their higher education. The specialism studied also strongly influences earnings – for example, students in computer science and IT, medicine and law are likely to be able to command above-average starting salaries.
Average Salary UK by Region
In addition, where people live and work also significantly influences earnings. Employers are often required to pay higher wages in areas where the cost of living is higher, such as London and the South East. The London region has the highest average annual earnings of all the places in the UK, the average median salary in London is 44,863, an increase of 1.47 per cent on the same period last year. The southern regions of England, London, the South East, the East, and the South West all have high annual earnings when looking at the UK as a whole. Wales is the region with the lowest average salary at £34,048.
| Region | Average Salary |
|---|---|
| London | £44,863 |
| Eastern England | £37,624 |
| North West England | £36,904 |
| South West England | £36,853 |
| West Midlands | £36,756 |
| South East England | £36,647 |
| Yorkshire And The Humber | £36,328 |
| Northern lreland | £36,160 |
| East Midlands | £36,101 |
| Scotland | £35,235 |
| North East England | £34,872 |
How Much is Needed for Life in the UK
The average cost of living in the UK is between £1,500 and £2,000 per month, including apartment rent, food, clothing, transport and other daily expenses. The average salary in the UK is between £2,500 and £3,500 after tax, which makes for a comfortable life. When considering a city to live in, it is essential to consider all living expenses and salary levels.
A high income doesn’t mean a lot of disposable cash. According to new data released by MoneySuperMarket, a consumer comparison website, residents of Brighton, a famous seaside city in the UK, have the highest disposable incomes of any city in the UK. The average Brighton resident has a total disposable cash of £1,315 per month, almost 30 per cent higher than London residents, who typically have £1,013. With higher wages and lower expenses, people living in Brighton typically spend around 45 per cent of their monthly income on bills and expenses. The data shows a more subtle north-south divide when it comes to value for money and disposable income levels. For example, the northern city of Nottingham ranks third in the UK with a disposable income of £1,055, ahead of the capital, but this may be because rents in London are more expensive than those in Nottingham. So, people need to consider disposable cash alongside wages.
Conclusion
In conclusion, understanding the average income in the UK provides valuable insights for anyone planning to work or live here. From differences based on age and gender to regional variations and industry-specific trends, these factors play a crucial role in shaping earning potential. Whether you’re a recent graduate, a professional seeking new opportunities, or simply curious about the job market, having a clear picture of salary expectations can help you make informed decisions.
FAQ About Average Salary UK
What’s the median salary in the UK?
Median gross annual earnings for full-time employees were £37,430 in April 2024, compared with £35,004 in April 2023, an increase of 6.9%.
What is the living wage in the UK in 2024?
The living wage in the UK, also known as the National Living Wage, is £11.44 per hour in 2024 for people aged over 21. The monthly living wage in the UK is £1,830,40.
What is a comfortable salary for a family of four in the UK?
£40,000 to £60,000 (Net Income) is a comfortable salary for a family of 4 in the UK. This range is often considered sufficient for a modest but comfortable lifestyle, covering basic needs and some discretionary spending.
