What is an average salary in the UK? - Skint Dad (2024)

Wondering what the average UK salary is in 2023? If so, you’re not alone.

A common trait amongst Brits is that we don’t like talking about money and how much we all earn.

Because of this, many people have no idea what the average UK salary is or whether they’re earning above or below it.

UK average salaries can vary between industries, from minimum wage earners to those on six figures.

Here, we explore the median salary in the UK, as well as the gender pay gap and which UK jobs pay the highest.

Want to know more? Scroll down to discover how your earnings stack up!

What is an average salary in the UK? - Skint Dad (1)

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Table of Contents

UK average salary

According to the Office of National Statistics, or ONS, the UK average salary was £14,727 for part-time workers and £39,966 for full-time employees in 2022.

This has slightly increased from the average UK salary in 2020, which was £38,552 for full-time positions and £13,819 for part-time.

Additionally, the median average salary in 2022 is lower year on year – £12,247 for part-time and £33,000 for full-time. This is compared to £11,240 and £31,487 in 2020, respectively.

Median salaries are better numbers for comparing a wage. This approach means it’s less likely to get mixed up by the few people earning higher salaries.

The median salary is at the centre of all wages, a “middleman” whom you can judge your own salary against.

This is better than using the average salary, which is affected by the people who earn more than £62,645 each year.

But, does an average salary allow you enough income to pay the average household bills per month?

What is a good salary in the UK?

Between £2,500 and £3,000 is considered to be an ideal monthly net income in the UK. That salary could support a comfortable life in a city, including a two-bedroom flat, entertainment and leisure.

Not only that, but many Brits feel that a £2,000 a month income after tax is the minimum required amount for a single person to live a good lifestyle.

A £40,000 gross salary is what you would need to live a comfortable but not extravagant life in the UK. This is also the salary a couple with kids would need to live well.

It would mean you’d be making enough to rent an apartment or a car, dine out, and go on regular holidays.

The Gender Pay Gap

The latest data from the ONS shows that the average UK male full-time employee earns 14.9% more than his female counterpart.

However, in part-time work, the pay gap difference is in favour of female employees, with women earning 2.22% more than men.

This is because more women work in part-time positions than men. In 2021, for full-time employees, the gender pay gap was 15.1% in favour of male employees. The part-time difference was in favour of women by 17.4%.

Which jobs have the biggest gender pay gap?

The newest data shows that male workers earn 50% more than their female co-workers in the five professions with the biggest wage gaps.

This means that male workers in these jobs earn the same wage as female workers in the same role in around half the time.

Mobile machine drivers, such as those who work in pile driving or tarmac surfacing, have the biggest UK gender pay gap. In these roles, male workers are paid 57.99% more than female workers.

Is there an improvement in the gender pay gap?

Yes. But this improvement doesn’t apply to all age groups equally. Workers aged 40 and over still experience a higher gap than younger workers – as much as 10% or over in many roles.

This is because there are more men than women moving up into highly-paid managerial roles after age 39. After this age, the UK average salary tends to increase.

Which factors affect UK average salaries?

Location

It’ll come as no surprise that Londoners are making the most money – an average of £728 every week.

The capital’s median salary is £68 higher per week than the second highest in the South East, with an average of £660. It’s also £117 higher than the median figure for the rest of the UK.

Remember, though, that this number is given a boost thanks to the city’s mega earners, such as CEOs on six figures.

Regionally, the North East has the lowest average pay, with full-time workers earning £547 per week.

However, you then need to factor in that it can cost less overall to live in other areas.

Find out the cheapest places to live in the UK to see if it’s worth a move to get more disposable income out of your salary.

Occupation

The industry you’re working in may be the reason you’re not earning as much as your friends.

Now, if you’re fiercely passionate about what you do and your salary is enough for you to support yourself, that’s great! But, if you’re doing it solely for the money, it may be time for a career change.

Age and experience

Having experience in the working world will always pay better. People in the 16 to 17 age bracket earned the least in 2021 with an average salary of £220 a week – £220.40 for women and £219.10 for men.

Incidentally, this age bracket is the only one in which women tend to earn more than men. The figures jump all the way to £327 and £354 for women and men in the 18-21 age group.

Once you get to the 40-49 age group, your earnings can potentially reach an average of £704 per week, making this the highest-paid age bracket.

Unfortunately, after this, the average UK salary starts to decrease as you get closer to retirement age. Full-time employees can expect to earn around £648 a week.

But what about those aged 60 and over? The average UK figure sits at £575, but these numbers can also begin to dip. This is because of employees retiring, decreasing the average earnings quite a lot.

Private or public sector

Typically, public sector salaries are higher than jobs in the private sector. In 2020, the UK median salary for full-time workers in the private sector was £30,973.

But, those in the public sector earned slightly more, with the median average UK salary being £32,743.

When should you get a raise?

Are you unhappy with your current salary? If so, now’s the time to start working towards that pay rise. We’re not suggesting that you suddenly burst into your boss’s office demanding more money, though.

You should expect a raise around once per year, so if your average weekly earnings have recently gone up, you’ll probably have to make do with it for now.

But, if it’s been a year, or even more, since your earnings were given a boost, it’s a good idea to start planning your strategy.

The best way to ask for a pay rise

A good time to request a pay rise is during your next performance review, so make sure to check when the next one is. Unfortunately, your approach to the subject largely depends on your superior’s personality.

If they’re a direct and no-nonsense kind of person, sending an email in the lead-up to the review is a good idea.

In the email, you can state that you’d like to discuss your salary, to avoid any surprises. In other cases, you may have to discuss it in another conversation.

Whenever you do bring up the topic, have a good case prepared for why you should have the raise.

Have you created new strategies that have benefitted the company? Have you taken on more responsibility since you last had a pay rise?

Think about what you’ve done during the last year and have your case clear before you ask for more money.

A conversation like this needs confidence – the worst thing you can do is sound nervous or forget key points. Rehearsing in front of a mirror is always a good idea!

How big of a pay rise should you ask for?

Before you go in with all guns blazing, you need to have an idea of how much extra money to expect.

Check out the average salaries of other workers in your role – you could even ask your friends and acquaintances how much they’re earning.

Don’t feel awkward about having conversations about finances with your friends. The less you stay in the dark about other people’s earnings, the more confident you’ll feel talking to your manager about a raise.

Once you’ve done your research, you can decide how much you want to increase your earnings or wait for a figure to be suggested by your manager.

Remember, asking for a raise is a delicate matter, so the latter option is probably the best. If the suggested figure is too low, you can always try to negotiate.

It’s better to slowly make your way towards your desired figure than go straight in with an eye-watering high number that immediately gets rejected.

What to do if your pay rise request is rejected

If the worst happens and your request is rejected, don’t feel disheartened.

Think of it as an opportunity to show you’re eager to stay at the company and boost your performance. Ask what you could do to warrant a future pay rise and walk out of the negotiation with pride.

Keep in mind, though, that a pay rise rejection isn’t always personal. These days, some companies simply can’t afford to give out regular pay rises.

Looking for another job instead? Why not find a genuine work from home job or find out how to get a job with no experience.

How to negotiate the salary for a new job offer

If the company you work for isn’t able to offer you a pay rise, it may be time to think about a new job.

If you decide to do this, keep in mind that negotiating your new salary is super important for getting off to a good start.

Wait for your potential new employer to offer a number, thank them, but politely request time to think about it before you snap their arm off.

It might be tempting to snatch up the offer straight away, but thinking about it shows that you’re wise. It’ll also give you a chance to consider the offer without your judgement being clouded by excitement.

The best way to approach a negotiation

In some ways, negotiating the salary of a new job is like asking for a pay rise in your current one.

You’ll need to be armed with the knowledge of how much other people in the same field earn, and you’ll need to sell yourself. But, you’re already good at this if you’re in this position anyway.

When beginning the negotiation with your new manager, broaching the subject without being defensive is crucial.

Outline your desired figure as a suggestion rather than a demand. Stay eager about the job because the aim is to come across as a valuable and loyal team member.

Never give out an ultimatum. This will put your employer off immediately, potentially leaving you jobless. If salary negotiations don’t work, try negotiating employee benefits like bonuses or holidays.

These will seem like small requests, so your employer may be more inclined to go for them. This is especially true if you’ve kept the charm on throughout the meeting!

Dealing with rejection

If there’s no chance of any negotiation, it may be worth asking if a pay review is possible once you’ve got through the probation period.

This will give you a chance to show off your abilities in the role and will give you the confidence to argue your case. Remember, your worth isn’t defined by your salary!

How to get the most out of your salary

Budgeting

Many financial goals can be achieved with careful budgeting, and it means you don’t need to compromise on the essentials. It’s vital to save first and spend after instead of the other way around.

A good rule of thumb is to spend 50% of your salary on essentials, 15% on personal purchases and 35% should go into your savings (check out the average savings in the UK).

Set goals

Saving money without any goals is a bad idea. You could be depriving yourself if you don’t actually know what you’re saving money for. Think about which short and long-term goals you’d like to achieve.

Some short-term goals could be a holiday, buying a car, or some new furniture. Long-term goals could include buying your first home or going to university.

Keep an eye on your spending

Remember to keep track of how much you’re spending, especially with personal purchases. Gifts and impulsive buys can quickly add up!

FAQs

Which UK jobs have the lowest average salaries?

In 2022, childcare workers once again had the lowest average UK earnings, with take-home pay of just £6,925, 3.4% more than in 2021. After childcare workers, bar staff had the second lowest average earnings in the UK, taking home £7,844.

What are the highest-paid jobs in the UK?

You probably think of CEOs when you imagine the highest paid jobs in the UK, but they’re actually in second place now. Advertising directors, sales, and marketing positions are now the highest-paid roles in the UK.

This is partly because of the CEO role suffering a 2.2% average earnings decline. IT directors are in third place, with average salaries of £68,912

What is an above-average UK salary?

In the UK, £50,000 could be classed as an above-average annual salary. The UK average salary for a family with both parents working is £40,000, so £50,000 would be an above-average income of 67% more.

What’s more, you wouldn’t pay high taxes on this income and would still be in the 20% bracket. You’d pay around £13,000 in National Insurance and income tax leaving you with roughly £37,000.

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Naomi Willis

Content editor at Skint Dad

Naomi knows the burden of living on very little and became debt free by following her own money saving tips and tricks. She is an expert on saving money at the supermarket and side hustles.

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What is an average salary in the UK? - Skint Dad (2024)

FAQs

What is an average salary in the UK? - Skint Dad? ›

According to the Office of National Statistics, or ONS, the UK average salary was £14,727 for part-time workers and £39,966 for full-time employees in 2022. This has slightly increased from the average UK salary in 2020, which was £38,552 for full-time positions and £13,819 for part-time.

What is middle class UK salary? ›

top quintile: £54,000. second highest quintile: £35,700. middle quintile: £26,800. second lowest quintile: £20,500.

What is the average salary of a British man? ›

In 2022 the average annual full-time salary for men in the United Kingdom was 35,260 British pounds, compared with 29,684 pounds for women, a difference of 5,576 pounds.

What is the top 1% salary in Britain? ›

In March 2023 the top one percent of earners in the United Kingdom received an average pay of 16,754 British pounds per month, compared with the bottom 10 percent of earners who earned 711 pounds.

Is 100k a good salary UK? ›

If you're single and have low or no debt, 100k is in the UK's top 5% of salaries, so yes, it is an excellent salary. This level of compensation will allow you to pay your rent/mortgage very comfortably and still have enough left to enjoy time with friends and family, invest and put money away.

What is considered wealthy in the UK? ›

According to Credit Suisse, individuals with more than $1 million in wealth sit in the top 1% bracket. The UK population was 68.4m people in 2021. According to Credit Suisse, a minimum wealth of $2,685,099 (£2,211,528) is needed to sit within the richest 1% in the UK.

What is the average salary in the US vs UK? ›

How do salaries compare with the UK? According to the Office for National Statistics, the average UK salary is £26,266, while the latest data from the US Bureau of Labor Statistics shows the average annual wage in the United States is $53,490 per year (about £38,941).

Why are US salaries higher than UK? ›

In general, wages in the United States tend to be higher than those in Europe, particularly for skilled and high-paying jobs. Part of the reason for this is that the cost of living in the U.S. is usually higher than in Europe. This means that workers need to make more money to keep their standard of living the same.

What is a decent salary in England? ›

High and low-income earners in the UK in 2022

Therefore, high-income earners make a gross income of £45,504 per annum, while low-income earners make a gross income of £20,160 per annum.

What is a very good salary in UK? ›

£70,000 is an excellent salary and is well above the median wage for the UK and London. Whether or not you find 70k to be a good salary will depend on your current financial and living situation.

What is minimum wage UK? ›

Current rates
Wage bandCurrent rate (from 1 April 2023)
Age 23 or over (National Living Wage)£10.42
Age 21 to 22£10.18
Age 18 to 20£7.49
Under 18£5.28
1 more row

Are UK salaries lower than US salaries? ›

The UK pays significantly less money in salaries than the US, and this might have you contemplating if you are living in the wrong country. There are lots of different reasons for this salary disparity between the US and the UK.

What is the average salary in the US? ›

According to the Bureau of Labor Statistics (BLS), the national average salary in 2021 was $58,260.

What is a decent salary in London? ›

The cost of living in the city, particularly housing and transportation expenses, tends to be higher compared to other regions in the UK. Taking into account these factors, a salary range of £50,000 to £60,000 per year can be considered a good salary that allows for a comfortable standard of living in London.

How many people in UK earn over 150k? ›

Illustrating the gulf between public and private sector pay at senior levels, the Taxpayers' Alliance said in a report earlier this week that only 2,921 people employed by local authorities in 2020-21 received more than £100,000 in total remuneration and 739 received over £150,000, 46 more than the previous year.

Is 200k a good salary in London? ›

Overall, £200k is a good salary to have in the UK. It is six times the national average and even far above average in London. People in the UK earning £200k per year are also additional-rate taxpayers. With £200k, you can afford to buy property or rent houses almost anywhere in the country.

What is considered upper class in UK? ›

Those in possession of a hereditary title (for example, a dukedom, a marquessate, an earldom, a viscountcy, a barony, a baronetcy, or a Scottish lordship of parliament) are typically members of the upper class, while those in possession or right to a coat of arms are typically at least members of the upper middle class ...

What is upper middle class UK? ›

The upper middle class in Britain traditionally consists of the educated professionals who were born into higher-income backgrounds, such as legal professionals, executives, and surgeons.

What is the average retirement savings in the UK? ›

Average pension pot by age (UK)
AgeAverage pension pot
25-34£9,300
35-44£30,000
45-54£75,500
55-64£107,300
1 more row
May 11, 2023

Is it cheaper to live in the UK than the USA? ›

When it comes to grocery and food prices, the UK is the winner in terms of overall affordability. The average British household spends less on groceries per month compared to the average American household, and UK supermarkets tend to offer more own-brand products, which are generally cheaper but still of good quality.

Is it more expensive to live in UK than USA? ›

According to a report by Numbeo in 2021, the cost of living index in the UK is 7.73% lower than that of the US. This is due to a number of factors, such as lower healthcare costs, lower transportation costs, and lower overall living expenses.

Is it better to live in the UK or USA? ›

Generally, the UK offers more vacation time and a balanced work-life balance, while the US has a more competitive job market and longer working hours. Lastly, taxes differ between the two countries. The UK has a higher tax rate overall but also offers a wider range of social welfare programs.

Is it expensive to live in the UK? ›

However, the cost of living in the UK can be higher than in most other countries in the world. The average cost of living as a family of four is around $3,135(£2,268) without house rent. As a single person or student, the estimated cost of living per month in the UK is $900(£651) without rent.

Is it easier to get a job in the US or UK? ›

If you are looking for opportunities, you may want to consider the UK, because the opportunities are more plentiful. In America, people are encouraged to work hard and achieve success. In the UK, people are expected to work long hours and be dedicated to their jobs but not attain a high level of personal success.

How much do nurses make in the UK compared to the US? ›

First off, salaries. In England, the 2017-2018 starting annual pay for nurses is between $21,456 and $21,828 (in U.S. dollars). In contrast, according to Drexel University, the average starting salary for an American nurse was more than $66,000 in 2016-2017.

What is the salary of a teacher in the UK? ›

An England school teacher that's qualified starts as a newly qualified teacher with a teaching salary £28,000 to £34,502 according to the school location in England. Each point on the teacher salary scale requires you to successfully teach and complete a full academic year before moving up the salary scale.

What is the perfect salary for happiness UK? ›

£120,000 is the 'best' it gets

Despite the logarithmic relationship between money and happiness, there is a caveat. Research has shown that you might be wasting your time trying to constantly double your salary – well at least above £120K.

Can you live in London on 30k? ›

While you can manage on a £30k annual salary in London, you may find it difficult to cover your costs. In 2023, this is £8,000 below the expected average expenditure for a single person.

What is the highest paid job in UK? ›

What are the highest-paying jobs in the UK? Chief executive and senior-level roles are perhaps unsurprisingly the highest-paid jobs in the UK, according to analysis of official ONS data by SavetheStudent. Marketing, sales and advertising directors, doctors, headteachers and airline pilots also come in the top 10.

What is the most common salary in England? ›

The ONS tells us that in April 2022, median weekly earnings for full-time employees went up by 5 per cent compared to the previous year, meaning that the average person took home £640 per week, or approximately £33,280 p.a. But, adjusted for inflation, it's still 2.6 per cent lower than that year.

Which part of UK has the highest salary? ›

The list of cities with the highest UK salaries on average is dominated by the south, with the likes of Guildford, London, Reading, Oxford and more all included. However, Leeds and Edinburgh make the top 10. The research also looked at the best city to work in.

How many hours is full time UK? ›

There is no specific number of hours that makes someone full or part-time, but a full-time worker will usually work 35 hours or more a week. Part-time workers should get the same treatment for: pay rates (including sick pay, maternity, paternity and adoption leave and pay)

What is a good hourly wage UK? ›

Summary of Average hourly pay By ethnicity over time Summary

in 2021, the average hourly pay for all employees was £13.57 – it was £13.00 in 2020, and £10.54 in 2013. employees from the white Irish ethnic group had the highest hourly pay out of all ethnic groups in 2021 (£18.14)

What is the living wage UK vs minimum wage? ›

What is the National Living Wage? The National Living Wage (NLW) is the minimum pay per hour most workers aged 25 and over are entitled to by law. The NLW means anyone over the age of 25, and not in the first year of an apprenticeship, has to be paid £9.50 per hour or above (2021/22 NLW was £8.91).

Is it worth moving to USA from UK? ›

The US is still the land of opportunity and still ranks as one of the most desirable countries in the world to move to. The US offers great career opportunities, an unparalleled lifestyle and one of the highest standards of living in the world – all in a beautiful environment.

What are common salaries in the UK? ›

As you'll probably already know, your twenties aren't generally the bit of your life when you're raking it in. The median salary for men between 22 and 29 was £26,856 in 2021, and for women £25,115. Earning power tends to peak in middle age, with the median weekly income hitting £704 between 40 and 47.

Is UK a good place to work? ›

Working in the United Kingdom is unlike any other country across the globe. While no two workplaces in the UK are alike, certain characteristics unite them all. From lunchtime etiquette to workplace hierarchy, there is no doubt that the workplace culture is distinct from that of other parts of the world.

What is a decent salary to live in US? ›

An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is ...

What is considered a high salary in the US? ›

What Is Middle-Class Income?
Income groupIncome
Low incomeLess than $52,200
Middle income$52,200 - $156,600
Upper incomeMore than $156,600
Feb 27, 2023

What is the most common salary in the US? ›

The median salary of 35- to 44-year-olds is $1,197 per week or $62,244 per year. That said, the number conceals considerable variation by gender. For example, male 35- to 44-year-olds earn a median salary of $1,299 per week, whereas women in the same age bracket earn a median of $1,086 per week.

Can you live in London on 50k? ›

In some areas, particularly major cities like London, the cost of renting or buying a property can be substantial. With a 50k salary, you should be able to secure decent accommodation in most parts of the country, although it might be more challenging to afford a spacious property or live in expensive areas.

What is considered middle class in the UK? ›

The middle class in the UK represents households with income between 75% and 200% of the median national income. Moreover, the UK's middle-class members earned an average annual salary of £19,352 in 2019.

How much should I spend on a car based on salary UK? ›

So, how much car can I afford based on salary? A sensible budget option is to spend no more than 15-20% of your net monthly salary/income on the car. That means monthly repayments for the finance and the car's running costs, including insurance, fuel – the lot!

What is a good net worth by age UK? ›

Get started
Average household wealth by agePhysical wealthProperty wealth (net)
20 to 24£20,400£28,000
25 to 29£27,800£79,000
30 to 34£35,900£65,000
35 to 39£41,700£112,000
6 more rows
Feb 27, 2023

What do the top 10% earn in the UK? ›

Data on the average annual gross salary percentiles in the United Kingdom in 2022showed that the bottom ten percent of full-time workers earned an average of 19,403 British pounds a year, with the top ten percent of workers earning around 62,583 pounds a year.

What percent of Americans make over 150k a year? ›

Percentage distribution of household income in the United States in 2021
Annual household income in U.S. dollarsPercentage of U.S. households
75,000 to 99,99911.9%
100,000 to 149,99915.9%
150,000 to 199,9998.3%
200,000 and over11.6%
5 more rows
Sep 30, 2022

What jobs pay 500k a year UK? ›

500k per year jobs in the United Kingdom
  • Part Time Sales Manager. EC Group - London. ...
  • Construction Site Manager. London Builders & Decorators - London. ...
  • Project Manager. ...
  • Business Development Manager. ...
  • High Jewellery Executive. ...
  • Business Development Manager. ...
  • Assistant Estimator - Growing Main Contractor. ...
  • Electrical Project Manager.

How much is 300k salary UK? ›

On a £300,000 salary, your take home pay will be £166,572 after tax and National Insurance. This equates to £13,881 per month and £3,203 per week. If you work 5 days per week, this is £641 per day, or £80 per hour at 40 hours per week.

What is the upper middle class salary in London? ›

With a purely statistical head on, if the upper middle class is the top 5th percentile of the disposable income distribution, it's about £70,000 after tax which equates to £100,000 gross per annum i.e. around $135,000 or above. That represents 5% of a labour force of 34 million so around 1.7 million people.

What qualifies as middle class UK? ›

The middle class in Britain often consists of people with tertiary education and may have been educated at either state or private schools. Typical jobs include: accountants, architects, solicitors, surveyors, social workers, teachers, managers, specialist IT workers, engineers, doctors, nurses and civil servants.

Is 50k a good salary UK? ›

Earning a 50k salary in the UK can generally be considered a good income that allows for a comfortable lifestyle. It provides the means to cover living costs, including housing, utilities, transportation, and leisure activities. Additionally, it allows for saving towards long-term goals and financial security.

Is 300k a good salary UK? ›

Workers in London need to be earning more than £300,000 a year to be considered 'rich', new figures show. This number rises even further if you're a middle-aged man, with this peer group needing £700,000 or more to be counted as wealthy in the capital.

What is considered upper middle class UK? ›

The upper middle class in Britain traditionally consists of the educated professionals who were born into higher-income backgrounds, such as legal professionals, executives, and surgeons. This stratum, in England, traditionally uses Received Pronunciation natively.

What are the 7 social classes in Britain? ›

The categories in between are: established middle class; technical middle class; new affluent workers, traditional working class and emergent service workers. The results were obtained by analysing people's income, assets, the professions of their peer group and their social activities.

What is average UK household income? ›

Median income for non-retired households decreased by 0.3% in FYE 2022, from £34,100 to £34,000, following a 1.0% increase in the previous year, with an average annual growth of 1.7% in the 10 years leading up to 2022 (FYE 2013 to FYE 2022).

Is 60k a good salary UK? ›

Earning a 60k salary in the UK can generally be considered a good income that allows for a comfortable lifestyle.

Are wages higher in US than UK? ›

In general, wages in the United States tend to be higher than those in Europe, particularly for skilled and high-paying jobs. Part of the reason for this is that the cost of living in the U.S. is usually higher than in Europe. This means that workers need to make more money to keep their standard of living the same.

What is a comfortable salary UK? ›

The average wage that was seen as a sum on which people could live comfortably is £16,300 more than the £33,000 median annual pay for full-time employees in the tax year ending in April 2022, according to Office for National Statistics (ONS) figures.

How many people in the UK earn 100k? ›

According to the Institute for Government, just 1,560 of the 456,410 civil servants earned more than £100,000 in 2020.

What is a realistic living wage UK? ›

The real Living Wage, set by the Living Wage Foundation and based on the true cost of living, is £10.90 in the UK, and £11.95 in London. A UK worker earning the National Living Wage would need an extra £936 each year to bring their income in line with the real Living Wage.

What income is considered rich in London? ›

Wealth
Percentile pointWealth to qualifyPercentage of total wealth owned by people at and above this level
Top 1%£688,22821% of total UK wealth
2%£460,17928% of total UK wealth
5%£270,16440% of total UK wealth
10%£176,22153% of total UK wealth
2 more rows

What is the top 10% income in London? ›

The top 10% of households have an average equivalised disposable income of £70,900 per year while the bottom 10% have an average of £10,600. More details about how these data have been equivalised are available.

How much of the UK is working class? ›

The traditional working class, about 14 percent of British society, shows relatively poor economic capital, but some housing assets, few social contacts, and low highbrow and emerging cultural capital.

What is the British upper class called? ›

Aristocrats. The royal family and those with titles, such as lords or barons, fall into this group. They are often referred to as “blue blooded,” a phrase that originated in France. The term originally referred to people who were so rich that they didn't have to work and rarely went out into the sun.

What is top 5 percent income in UK? ›

When it comes to annual income, a salary of £80,000 would put someone firmly in the top 5% of UK earners. According to HMRC taxpayer data from 2016-17, the 95th percentile of earnings began at £75,300. If this has gone up in line with other earnings growth, it will be just over £80,000 this year.

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