If you earn more than £39,039, you’re in the top half of all full-time workers in Britain. Just £100,000 puts you in the top 5% — and 60% of people earning £90,000 still think they’re “about average.”
In this video, I look at what people in the UK really earn: median salaries for full-time and part-time workers, the minimum wage, regional pay gaps (and why London’s average is misleading), what it takes to join the top 1%, how much tax you actually pay at different incomes, graduate starting salaries and the shrinking graduate premium, how pay changes with age, welfare payments, and average household wealth. Plus how much income tax Erling Haaland pays — enough to cover 524 median workers.
Sources:
ONS – Earnings and working hours: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/realtimeinformationstatisticsreferencetablenonseasonallyadjusted
ONS – Total wealth in Great Britain: https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/totalwealthingreatbritain/april2020tomarch2022
IFS – Disposable income growth by parliament: https://ifs.org.uk/data-items/annualised-real-household-disposable-income-growth-capita-parliament
ONS – Regional net fiscal balance: https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/datasets/countryandregionalpublicsectorfinancesnetfiscalbalancetables
Premier League salaries: https://www.capology.com/uk/premier-league/salaries/
🔗 More at https://www.economicshelp.org
⏱️ Chapters:
0:00 The average UK salary
1:17 Part-Time
1:57 Minimum wage
2:30 Regional pay differences
4:08 The top 1% (and footballers)
4:50 How much tax you really pay
6:55 Graduate salaries
7:37 Pay by age
8:26 Welfare and benefits
9:34 Average wealth
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► https://www.economicshelp.org was founded in 2006 by Tejvan Pettinger, who studied PPE at Oxford University and teaches economics. He has published several economics books, including:
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