18th January 2022
Average Wage UK: What Salary Should You Be Earning At Your Age? 💼
As a person’s age increases; meaning their skills, experiences and commitment to work increases too, they may find themselves questioning whether their salary is where it should be?
According to a new study, a person’s salary can be affected by a number of different variables, including industry, development, skillset and even gender. The study by Instant Offices found that the average UK annual salary differs drastically across industries, and salaries may be determined through a range of variables.
Key Findings:
-
Pay increased for most workers in 2021 - especially for those seriously affected by the pandemic and lockdown in 2020.
-
The average starting salary for UK graduates is estimated at £21,000 – £25,000.
-
Factors that can influence a person’s salary include education, experience, industry, company, gender and location.
-
Most UK workers emphasise flexibility and convenience over higher earnings. 60% of employees are more likely to move to a job that offers hybrid or remote working permanently
COVID-19 has actually improved salary earnings in many industries
Pay increased for most workers in 2021, especially for those seriously affected by the pandemic and lockdown in 2020. Those who lost hours in 2020 are the most significant drivers behind the 2021 increase. These include:
-
Employees in the accommodation and food industry,
-
Employees aged 16 to 17 years,
-
Employees in elementary occupations.
According to the latest Annual Survey of Hours and Earnings (ASHE), median weekly earnings for full-time employees in April 2021 increased by 4.3% compared to the previous year, rising to £611. This growth is the highest since 2008.
Does More Pay Equal More Happiness?
While earning a good wage plays an essential role in overall job satisfaction, it’s not actually the thing employees want the most. Recent research has found that most UK workers emphasise flexibility and convenience over higher earnings. In fact, 60% of employees are more likely to move to a job that offers hybrid or remote working permanently.
Ways in which you could increase your salary
Your salary and potential earnings will increase as you improve your skills, knowledge and experience, but there are a few ways you can increase it right now:
1. Negotiate a salary raise - Keep details of your achievements at work and use them as leverage when negotiating a salary increase.
2. Research and compare your salary - Know how much your skills are worth and compare your salary with the industry average for an overview.
3. Become an expert - Consider training or studying short courses to become more knowledgeable in your industry.
The moral of the story? Keep improving your worth, learning from great mentors and studying your niche to fund success in your industry through every stage of your life.
You can find more information about this story here.
Please let me know if you need any more information.
Thanks so much,
India
ENDS