UK professionals working in Aberdeen, Glasgow and Hull are officially the richest workers in Britain, according to research conducted by leading independent job board, CV-Library. The data reveals that those living and working in London were the poorest, despite earning the highest average salary in the UK.
In fact, the average annual salary in London is £38,550, 14.9% greater than the national average of £33,490 per year. However, premium costs in the capital drastically outweigh the slightly higher-than-average salaries, meaning Londoners have the least disposable income in the country.
Comparing the same basic living costs against average salaries in 16 of the UK’s key cities, the study reveals the following:
- Londoners spend 83.1% of their monthly wage on living costs, compared to just 39.4% for professionals in Hull
- Professionals in London, Aberdeen and Glasgow earn the highest wage, while those in Sheffield, Newcastle and Leicester earn the lowest
- Hull is the cheapest city to rent in, followed by Glasgow and Aberdeen, while London, Brighton and Bristol are the most expensive
Richest to poorest UK workers*:
|
|
Average monthly salary |
Basic monthly costs |
Remaining income |
|
Aberdeen |
£2,170.97 |
£911.11 |
£1,259 |
|
Glasgow |
£2,137.01 |
£877.44 |
£1,259 |
|
Hull |
£1,895.21 |
£746.56 |
£1,148 |
|
Birmingham |
£2,091.09 |
£1,007.33 |
£1,083 |
|
Cardiff |
£2,029.04 |
£960.94 |
£1,068 |
|
Liverpool |
£1,952.47 |
£931.40 |
£1,021 |
|
Leicester |
£1,891.72 |
£882.09 |
£1,009 |
|
Southampton |
£1,983.85 |
£982.42 |
£1,001 |
|
Sheffield |
£1,857.19 |
£881.98 |
£975 |
|
Newcastle |
£1,870.49 |
£896.79 |
£973 |
|
Manchester |
£1,970.65 |
£1,009.69 |
£960 |
|
Portsmouth |
£1,955.44 |
£1,016.63 |
£938 |
|
Bristol |
£2,045.89 |
£1,135.44 |
£910 |
|
Edinburgh |
£1,958.88 |
£1,081.35 |
£877 |
|
Brighton |
£1,957.47 |
£1,313.34 |
£644 |
|
London |
£2,269.22 |
£1,886.53 |
£382 |
*Average monthly salary taken from CV-Library data between 1st July and 30th September 2018. Basic monthly costs include rent (small, one-bed flat, located close to the city centre), relevant council tax, a local monthly travel card, basic utility bills and groceries.
Lee Biggins, founder and managing director of CV-Library, comments: “For those living anywhere but London or the South East, reasonable living costs make the ability to enjoy your wages and save for the future a reality. While average pay in the capital outperforms the rest of the UK, our data suggests that Londoners are actually much worse off financially than those in Scotland and the North.
“Remember, while large salary packets can certainly be appealing, it’s important to factor in the monthly living costs that will take up a large chunk of your wage packet. Start by using an online salary tax calculator to work out your average take home pay and then consider your additional monthly outgoings.”
In addition to this, the study explored the average cost of purchasing a one-bed flat in each of these UK cities and reveals the percentage of monthly income that would need to be spent on mortgage repayments:
- London – 108% of monthly salary
- Brighton – 61.2% of monthly salary
- Bristol – 48.9% of monthly salary
- Newcastle – 45.7% of monthly salary
- Edinburgh – 45.5% of monthly salary
Biggins concludes: “House prices are sky rocketing across the UK and this only means trouble for workers located in the likes of London and Brighton. Employers need to ensure they’re offering fair salaries that reflect the cost of living in their location.”
For further information, read more about the study here: www.cv-library.co.uk/recruitment-insight/where-richest-poorest-workers-live-in-the-uk
