The median annual earnings for full-time employees in the United Kingdom was approximately 37,430 British pounds in 2024, compared with 34,963 pounds in the previous year. At the start of the provided time period, in 1999, the average full-time salary in the UK was 17,803 pounds per year, with median earnings exceeding 20,000 pounds per year in 2002, and 30,000 by 2019. Wages continue to grow faster than inflation in 2024 Between November 2021 and July 2023 inflation was higher than wage growth in the UK, with wages still outpacing inflation as of April 2024. At the peak of the recent wave of high inflation in October 2022, the CPI inflation rate reached a 41-year-high of 11.1 percent, wages were growing much slower at 6.1 percent. Since that peak, inflation remained persistently high for several months, only dropping below double figures in April 2023, when inflation was 8.7 percent, down from 10.1 percent in the previous month. For 2023 as a whole, the average annual rate of inflation was 7.3 percent but is forecast to fall to 2.2 percent in 2024, and 1.5 percent in 2025. Highest and lowest-paid occupations As of 2023, the highest-paid occupation in the UK was that of Chief Executives and Senior Officials, who had an average weekly pay of approximately, 1,576 pounds. By contrast, the lowest-paid occupation that year was that of retail cashiers, and check-out operators, who earned approximately 383 pounds a week. For industry sectors as a whole, people who worked full-time in the electricity, gas, steam and air conditioning supply sector had the highest average earnings, at 955 pounds a week, compared with 505 pounds a week in the accommodation and food services sector, the lowest average earnings in 2023.

In 2024, the average annual full-time salary for men in the United Kingdom was 40,035 British pounds, compared with 34,000 pounds for women, a difference of just over 6,000 pounds. In the previous year, men earned an average annual salary of 37,382, compared with women who earned 31,672.

Annual estimates of paid hours worked and earnings for UK employees by sex, and full-time and part-time, by work-based region to local and unitary authority level.

Data on the median average annual gross salary for part-time employees in the United Kingdom in 2020, by region, showed that the London had the highest average salaries at over 12 thousand British pounds, with East England having the lowest at 10.7 thousand pounds.

Average weekly earnings at sector level headline estimates, Great Britain, monthly, seasonally adjusted. Monthly Wages and Salaries Survey.

The median hourly earnings for full-time employees in the United Kingdom was 18.72 British pounds in 2024, compared with 17.48 pounds in the previous year. At the start of this provided time period, in 1997, the average hourly wage in the UK was 7.92 pounds per hour, rising to more than ten pounds per hour by 2003, and above 15 pounds per hour by 2020. Minimum and living wage in the UK In the United Kingdom, employers are expected to pay their employees a minimum wage that is determined by how old they are. Under 18s for example, had a minimum wage of 5.28 British pounds in 2023, with the figure increasing to 7.49 pounds those aged 18 to 20, 10.18 for 21 to 22 year old's, and 10.42 for those aged 23 and over. There is also a voluntarily paid living Wage that employers can choose to pay their workers. For the 2023/24 financial year this was twelve pounds an hour, rising to 13.15 pounds an hour for workers based in London. Icelandic the highest earners in Europe Iceland had the highest average annual wage in the Europe in 2022 at around 79,500 U.S dollars. This was followed by Luxembourg at 78,300 dollars, Switzerland at 72,990 and Belgium at 64,850 dollars. The United Kingdom’s average annual wage amounted to around 53,985 U.S dollars in the same year. In this year, the country with the lowest annual salary in Europe was Greece, at 25,980 pounds per year.

Annual estimates of paid hours worked and earnings for UK employees by sex, and full-time and part-time, by region and two-digit Standard Industrial Classification 2007.

Wages in the United Kingdom grew by approximately 5.9 percent in January 2025, although when adjusted for inflation, wages only grew in real terms by 2.1 percent. When bonus pay is included in wage growth calculations, wages grew by 5.8 percent in nominal terms, and by 2.2 percent in real terms. Twenty months of inflation outpacing wages Between November 2021 and June 2023 inflation was higher than wage growth in the UK, resulting in falling real terms earnings throughout this 20-month period. While UK inflation peaked at 11.1 percent in October 2022, it was not until April 2023 that it fell below double figures, and not until May 2024 that it reached the Bank of England's target of two percent. Forecasts from the Autumn 2024 budget predict that the annual UK inflation will for 2024 will be 2.5 percent, down from 7.3 percent in 2023 and 9.1 percent in 2022. Due to high inflation, the UK's minimum wage also rose quite significantly during this period, with the "main" rate increasing from 8.91 pounds per hour in 2021 to 12.21 pounds per hour for 2025. Average earnings and gender pay gap For full-time workers in the United Kingdom, the median average annual earnings was 37,430 British pounds in 2024, compared with 34,663 pounds in 2023. In London, average earnings were significantly higher than the rest of the country, at 47,455 pounds. Just two other areas of the United Kingdom, the South East and Scotland, had annual salaries above the UK average. North East England had the lowest average salary, at 32,960 pounds. As of 2024, the gender pay gap for median gross hourly earnings in the UK was 13.1 percent for all workers, falling to seven percent for full-time workers and -3 percent for part-time workers. Compared with 1997, when the gender pay gap was 27.5 percent for all workers, there has been a degree of progress, although, at current trends, it will be some time before the gap is closed entirely.

Key information about United Kingdom Monthly Earnings

• United Kingdom Monthly Earnings stood at 3,592 USD in Nov 2024, compared with the previous figure of 3,694 USD in Oct 2024
• UK Monthly Earnings data is updated monthly, available from Jan 2000 to Nov 2024, with an average number of 2,857 USD
• The data reached the an all-time high of 3,707 USD in Sep 2024 and a record low of 1,817 USD in Sep 2000

• In the latest reports, UK Population reached 68 million people in Dec 2023
• Unemployment Rate of UK dropped to 4 % in Oct 2023
• The country's Labour Force Participation Rate dropped to 63 % in Oct 2023

In 2020 part-time workers in the United Kingdom aged between 16 and 17 had an average weekly salary of just over 61 British pounds a week, compared with part-time workers in their 40s who earned around 232 pounds a week.

Annual estimates of paid hours worked and earnings for UK employees by sex, and full-time and part-time, by region, and public and private sector, and non-profit bodies and mutual associations. Hourly and weekly estimates are provided for the pay period that included a specified date in April. They relate to employees on adult rates of pay, whose earnings for the survey pay period were not affected by absence. Estimates for 2020 and 2021 include employees who have been furloughed under the Coronavirus Job Retention Scheme (CJRS). Annual estimates are provided for the tax year that ended on 5th April in the reference year. They relate to employees on adult rates of pay who have been in the same job for more than a year.

Norwich-New London, CT-RI - Average Hourly Earnings of All Employees: Total Private in Norwich-New London-Westerly, CT-RI (NECTA) was 27.70000 $ per Hour in January of 2021, according to the United States Federal Reserve. Historically, Norwich-New London, CT-RI - Average Hourly Earnings of All Employees: Total Private in Norwich-New London-Westerly, CT-RI (NECTA) reached a record high of 27.93000 in January of 2020 and a record low of 21.53000 in January of 2007. Trading Economics provides the current actual value, an historical data chart and related indicators for Norwich-New London, CT-RI - Average Hourly Earnings of All Employees: Total Private in Norwich-New London-Westerly, CT-RI (NECTA) - last updated from the United States Federal Reserve on March of 2025.

Average Earnings Excluding Bonus in the United Kingdom remained unchanged at 5.90 percent in January. This dataset includes a chart with historical data for the United Kingdom Average Earnings Excluding Bonus YoY.

The average weekly earnings for full-time workers in the United Kingdom was around 728.3 British pounds a week in 2024, an increase on the previous year, when it was 681.7 pounds a week.

About this dataset

Context

The dataset illustrates the median household income in London, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2023, the median household income for London increased by $1,184 (2.48%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.

Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 5 years and declined for 8 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 0223

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2023
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2023 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for London median household income. You can refer the same here

Estimates of annual household income for the four income types for Middle layer Super Output Areas, or local areas, in England and Wales.

Affordability ratios calculated by dividing house prices by gross annual residence-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.