00:00The figures I'm going to show in this video are based on the ONS September 2024 report,
00:05which you can access online. These are pre-tax figures and are based on both full-time and
00:10part-time earners. If you were to exclude the part-time earners, then the salary amount for
00:14full-time earners would be slightly higher. If you look at the overall UK median salary per month,
00:19it is £2,420 or £29,040 per year. This is up by about 6.2% compared to last year,
00:28with the recent high inflation continuing to push up wages. The median pay varies greatly by
00:34industry. And as you can see from this graph, finance and insurance lead the way with the
00:39highest median salaries. Then health work, education, construction, transportation,
00:45and manufacturing jobs are in the middle with accommodation, food, retail, and the arts and
00:50entertainment industries with the lowest median salaries. So what are the top 25% earning? On
00:57average, people in this category are earning £40,920 per year or £3,410 per month. There are
01:06around 5.6 million full-time earners in the UK in this category. You might be watching this video
01:12and thinking, actually, I'm earning close to that, or even I'm earning more than that. And that's great
01:17if that's the case, because that means you're already earning more than the majority of people
01:21in the UK. So next up is the top 10%. According to the ONS report, they're earning on average £66,060
01:30per year or £5,505 per month. There are around 2.25 million full-time earners in the UK in this group,
01:39and managers, directors, and senior officials are the highest earners in this category.
01:44And finally, what are the top 1% earn in the UK? They earn a massive £187,596 per year or £15,633
01:57per month. Although this is a big jump from the top 10%, you might be thinking, this is not quite as
02:03much as you were expecting. Remember, this is earned income and not wealth from things like assets. A lot
02:10of the rich people in the UK will be increasing their wealth from their assets appreciating,
02:16such as stocks and shares or real estate. And this is not factored into the earned income calculation.
02:22There are a couple of factors influencing earnings in the UK. The first is the strong correlation
02:27between earnings and age. So as age increases, so does earnings. The highest earners in the UK are
02:34typically in their 40s or early 50s. And the lowest earners in the UK are typically under 20 or in their
02:42early 20s. So don't worry if you feel like you're behind or you're not in the top categories of earnings
02:48just yet. The second factor is location, which also plays a big part.
02:53It's still very important. Often it's company, which is a very good, but haven't been involved in the UK
03:05US and a very good effect. But in also somewhere in the UK, the reason for this is for so many
03:14winners is looking towards the UK players.
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