- Quick overview
- What is the average salary in the UK?
- What is the average salary per month?
- Wages vs inflation: Are wages actually rising?
- What is the average UK salary by age?
- What is the average UK salary by region?
- What is the average UK salary by industry?
- Public sectors vs private sector salaries in the UK
- What is the gender pay gap in 2023?
Your salary affects your daily living costs and how much money you can put away in savings accounts, so we looked at the latest salary statistics to find out how our salaries have changed over the years and how wages compare to inflation.
- The average UK salary is £32,760 in April 2023, an increase of £823.33 from 2022.
- Real wages have only grown by 3% since 2015, whilst nominal wages have grown by 31% in the same period.
- Between 2021 and 2023, real wages have gone down by almost 5%.
- The highest earning region in 2022 was London, with an average salary of £44,070.
- Londoners earn £11,315 more a year than the second highest earning region in the UK.
- 40 to 49 year olds have the highest average salary at £37,247.
- The sector with the highest average salary in the UK is finance and business services, with an average salary of £44,200.
- The private sector’s bonus pay is 1,250% of the public sector’s pay, on average.
- The gender pay gap in the UK is about 14% in 2023, widening from 2.2% in the youngest age group to 19% in the oldest age group.
What is the average salary in the UK?
The average salary in the UK is £32,760 as of April 2023, an increase of £823.33 from 2022. In the ten years since 2013, average salaries have increased by around 35%. The biggest year-on-year change in salaries since 2000 happened in 2022, when average salaries grew by 6%, likely due to the high inflation levels.
2009 was the only year since 2000 where the average salary decreased year-on-year. It was 0.1% lower than in 2008.
|Year||Average salary UK (total pay)|
What is the average salary per month?
The average monthly salary in the UK is £2,730 as of April 2023. The private sector’s average monthly salary is slightly higher than the public sector’s, coming in at £2,743 and £2,682.33, respectively.
Wages vs inflation: Are wages actually rising?
Wages adjusted for inflation, known as real wages, have been fairly stable in the UK, growing by around 3% since 2015. However, between 2021 and 2023, real wages have gone down by almost 5%, meaning our salaries are not rising in line with inflation.
Nominal salaries have grown steadily over the last 8 years, rising from £25,068 in 2015 to £32,760 in 2023. This difference represents a 31% increase in 8 years.
To understand whether wages are actually rising in line with current prices, we’ve compared real income with nominal income. While nominal income is the actual amount of money paid, as discussed in the salary figures above, real income is adjusted for inflation.
|Year||Real wages (in 2015 £'s)||Nominal Wages(in 2015 £'s)|
What is the average UK salary by age?
The average salary increases with age, reaching a peak between 40 and 49 years old, at £37,247 in 2022. However, age groups from 50 onwards earn less, with the average salary falling to £27,128 for 60+ year olds. The lowest earning adults are 18-21 year olds, earning only £14,118 on average.
|Age group||Average salary (2022)|
What is the average UK salary by region?
The highest earning region in 2022 was London, with an average salary of £44,070, which was £11,315 more than the second highest earners in the South East. The region with the lowest average earnings was the North East with £28,293.
|Region||Average Salary (2022)|
|Yorkshire and The Humber||£28,470.00|
What is the average UK salary by industry?
The sector with the highest average salary in the UK is finance and business services, with an average salary of £44,200 as of April 2023. This sector earns £6,968 more than the next highest sector, which is construction (£37,232). The manufacturing sector comes in third, with an average salary of £35,984.
The lowest average salary is in the wholesale, retail, hotel and restaurant sector, with an average salary of £21,684. This sector’s average salary is £10,296 less than the second-lowest earning sector, which is the public sector (£31,980).
|Industry||Average salary in 2023|
|Finance and business services||£44,200.00|
|Public sector (excluding financial services)||£31,980.00|
|Wholesaling, retailing, hotels & restaurants||£21,684.00|
Public sectors vs private sector salaries in the UK
The average salary in the private sector is slightly higher than the public sector, at £32,916 and £32,188, respectively. However, the public sector earns more in regular pay on average. The private sector benefits overall by having a significantly higher share of bonus pay on average.
The average bonus pay for the private sector is £2,600, compared to only £208 for the public sector. This means the private sector’s bonus pay is 1250% of the public sector’s pay, on average.
|Sector||Total Pay||Regular pay||Bonus pay|
What is the gender pay gap in 2023?
On average, it is estimated that the gender pay gap in the UK is about 14% in 2023. The gender pay gap widens with age, as 18 to 21 year olds are estimated to have a 2.2% gender pay gap, whereas 60+ year olds have an estimated gender pay gap of 19%.
This difference may reflect a change in policy and attitude in younger generations. However, it may also indicate a compounding effect within the gender pay disparity.
|2022||Gender Pay Gap|
They say that money makes the world go round, but just how much money are Brits making? We looked at the latest salary statistics to find out how our salaries have changed over the years and who is earning the most money.
- 76.6% of Brits of working age (16-64) are employed in 2020, an all-time high.
- The average weekly earnings of full-time employees in 2020 is £536.17.
- This is 0.26% lower than the weekly wage in 2019.
- Men reach their peak earnings at 40-49, whereas women reach their peak earnings at 30-39.
- The gender pay gap among full-time employees was 8.9% in 2019. But for those under 40, it’s close to 0%.
Employment in the UK
The employment rate in the UK is the highest that it has been since 1971, with 76.6% of Brits of working age (16-64) currently employed, which is 0.5% more than it was this time last year. Unemployment is currently at 4%, which is slightly higher than it was this time last year (3.9%).
After a slump during the 2007/2008 financial crisis, the employment rate in the UK has been trending upward ever since, now exceeding the 2007 employment rate. Each year, more men than women are employed in the UK. The latest figures show that 80.5% of males and 72.7% of women are employed in 2020.
Explore the graph and table below to see how the employment rate in the UK has changed from 1971 to the present day.
The median full-time gross weekly earnings in the UK in 2020 is £536.17, which is 0.26% lower than it was in 2019. Full-time weekly earnings have been on the rise every year in the last decade until this year, when they fell by £1.41.
Explore the graphic and table below to see how the average earnings have changed since 2006.
Year Median full-time gross weekly earnings (£) 2020 536.17 2019 537.58 2018 519.58 2017 505.08 2016 493.42 2015 481.92 2014 470.67 2013 465.67 2012 460.58 2011 454.67 2010 444.42 2009 435.08 2008 435.33 2007 420.42 2006 401.00
The most well-paid sector
Where should you go if you want to make the big bucks?
The most well-paid sector in the UK is finance and business services, where the average yearly salary is £35,152. The second most well-paid sector is manufacturing, which can expect a salary of £30,836 per year. On the other end of the spectrum, those hired within the wholesaling, retailing, hotel and restaurant sector earn an average yearly salary of £18,096.
Sector Average weekly pay Average yearly pay Finance and business services £676.00 £35,152.00 Manufacturing £593.00 £30,836.00 Construction £590.00 £30,680.00 Public sector £568.00 £29,536.00 Public sector excluding financial services £563.00 £29,276.00 Private sector £522.00 £27,144.00 Services £518.00 £26,936.00 Wholesaling, retailing, hotels & restaurants £348.00 £18,096.00
Are wages actually rising?
With the cost of living increasing due to inflation, are our wages actually increasing at a relative pace? When adjusted for inflation, wage growth in 2019 was only 0.9%, compared to 2018, when it was 1.2%. However, 7 out of the last 14 years have seen negative or no growth in wages relative to inflation, meaning that Brits were actually worse off in those years.
Year Wage growth (%) 2019 0.9 2018 1.2 2017 -0.5 2016 1.5 2015 1.4 2014 -1.5 2013 0 2012 -1.2 2011 -3.3 2010 -0.6 2009 -0.3 2008 1.6 2007 0.4 2006 1.3
Who earns the most?
Across every age range, men earn more money than women and the age at which earnings peak is different for each gender. Median gross weekly earnings for full-time employees peak at age 40-49 for men (£708) and age 30-39 for women (£575).
Explore the graphic below to see how median full-time gross weekly earnings differ between age groups and genders.
Age Men Women 16 to 17 £193.70 £172.10 18 to 21 £345.00 £323.50 22 to 29 £495.40 £460.00 30 to 39 £630.20 £574.90 40 to 49 £707.70 £571.00 50 to 59 £667.40 £514.50 60 and over £579.90 £445.40
Gender pay gap
The gender pay gap examines the differences in pay between men and women in the UK. The gender pay gap is calculated as the difference between the average hourly earnings of men and women as a proportion of the average hourly earnings of men. The 8.9% pay gap for full-time employees in 2019 is 0.3% higher than it was in 2018, when it was the lowest it has been in the last 20 years. For all of the UK (full-time and part-time workers), the gender pay gap was 17.3% in 2019.
It’s not all bad, though. Looking at those under 40 years old, the gender pay gap is close to 0%.
Year All employment forms (%) Full-time employment (%) Part-time employment (%) 2019 17.3 8.9 -3.1 2018 17.8 8.6 -4.9 2017 18.4 9.1 -5.3 2016 18.2 9.4 -6.1 2015 19.3 9.6 -6.8 2014 19.2 9.6 -5.5 2013 19.8 10 -5.9 2012 19.6 9.5 -5.5 2011 20.2 10.5 -5.1 2010 19.8 10.1 -4.3 2009 22 12.2 -2.5 2008 22.5 12.6 -3.7 2007 21.9 12.5 -2.2 2006 22.2 12.8 -2.2 2005 22.6 13 -3 2004 24.7 14.5 -2.6 2003 25.1 14.6 -1.3 2002 26.9 15.5 -0.6 2001 26.3 16.4 -3.7 2000 26.7 16.3 -3.5 1999 26.9 16.4 -2.6 1998 27.3 17.4 -4 1997 27.5 17.4 0.6
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