Do you ever question whether you are paid enough or wonder what you might earn if you lived somewhere else in the UK? What if you are a different age, have more qualifications or work in a different industry?
£18,138.00 Max: £59,999.00
Average Average Salary
in UK: £30,376.86
Below are 4 areas of key criteria that influence how much people earn. This UK average salary report is supported by aggregated data from the UK’s job boards and the Office of National Statistics (ONS.)
It won’t come as a surprise to learn that jobs in London, and other major cities, often command higher salaries than the equivalent positions in smaller cities or towns will.
However, it’s worth remembering that living in a big city, or indeed commuting into one, is very expensive. So, what looks like a great salary on paper, may not necessarily translate to more money in the pocket to spend.
Given the huge rise in home working and the reduced requirement for employees to work from an office, your location may start to have less and less impact on the average salary for your job or industry.
2. Age / Gender
You don’t need to be a genius to work out that as we get older, we gain more and more experience, thus commanding higher salaries.
Recent school leavers entering the world of employment can expect to be some of the lowest paid employees, given their lack of any experience. University leavers can hope to earn more, due to their extensive education.
However, it’s not until we reach our 30s that we start to get into our earning stride, when we have both education and/or qualifications, plus some experience, behind us.
Employees aged 40-49 are some of the best paid as they have, by this age, racked up a good 15 years + experience.
Of course, there are always anomalies, and in some industries, if you are good at your job, you can reach your peak earning potential much earlier. Industries such as the financial sector, can see employees realise huge earning potential at a young age, but this is generally the exception that proves the rule.
Whilst the gender pay gap has thankfully narrowed enormously over the last 20 years, sadly there is still a gap between men and women who perform the same job. This isn’t true in every industry and companies are becoming much better at paying a specified salary for a role, regardless of gender.
3. Skillsets / Education
As we touched on above, the more qualifications you have, or the more educated you are, then generally, the more you can expect to earn. Having a relevant degree for your industry may well be a prerequisite, or it may serve to enhance your CV and put you ahead of the competition.
Ensuring your skills are kept up to date and relevant should also ensure you maximise your earning potential. One of the most effective ways to ensure your salary increases steadily as you get older is to specialise within your industry. Having a ‘niche’ skillset will improve your salary prospects.
4. Occupation / Industry
Different industries will have different requirements when it comes to education and skills. Clearly, a job within the medical profession or in the legal industry will have very comprehensive requirements for job-seekers. However, a position within the retail industry may require a can-do attitude and good people skills rather than qualifications.
Certain industries like Construction, Energy and Digital Marketing, have seen a boom over the last few years, so working in one of these growth areas may also provide you with increased earning potential.