MINIMUM AND AVERAGE SALARY IN THE UK

United Kingdom is an island nation located northwest of continental Europe. It is washed by the North Sea, the Irish Sea, the Celtic Sea and the Hebridean Sea. The southeast coast is 35 km from the north coast of France.

Salary in United Kingdom

Despite the withdrawal of Britain from the European Union, which formally took place at midnight from January 31 to February 1, 2020, the economy of the Kingdom remains one of the largest in the world. Today the country has a fairly high standard of living and decent wages. Next, let's find out what the UK's salary will be in 2024.

Minimum salary in United Kingdom (England)

The UK government sets the national minimum wage and the national living wage every year. These figures apply to all companies regardless of size or ownership. The UK National Minimum Wage Act of 1998 was enacted to ensure that the lowest paid workers are paid fairly while maintaining employment.

Important. Minimum wage rates in the UK are reviewed annually on 1 April.

MINIMUM WAGE IN THE UK IN 2024

Age Pounds per hour
21 and over (living wage) 11.44
18-20 8.60
16-17 6.40
Trainee 6.40

In April 2024 there was an 9.8% increase in the UK minimum wage to £11.44 per hour, which is more than £457 per week for a full-time worker. The monthly minimum wage in the U.K. in 2024 is £1,980, the equivalent of $2,465 U.S. dollars.

Average salary in United Kingdom (England)

According to the British National Statistics Office, taking into account bonuses, the average salary in the UK in 2024 is 623 pounds per week, 2,700 pounds per month and 32,396 pounds per year, which at current exchange rates in U.S. dollars equals 775, 3,365 and 40,355 respectively. Londoners earn the most, an average of £640 per week.

Note. Assuming full-time employment, men in the UK earn on average 7.4% more than women. And for all workers, the gap is 15%.

Corporate executives and CEOs earn an average of £97,083 a year. This is the highest salary in the UK. Then there are airline pilots, doctors and medical workers, marketing/sales directors, IT/telecom executives, lawyers, CFOs, train/tram operators, and electrical engineers.

In conclusion, the unemployment rate in the UK is about 4-5% and the income tax rate in 2024 ranges from 0 to 45%.

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