• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Business and Economics Business

London home to the poorest workers in Britain – but where are the richest?

RelatedPosts Kneecap say ‘no further action’ will be taken against them for Glastonbury set BBC reporter aghast at ‘jaw-dropping’ water pollution following new report Trump ‘steals Club World Cup medal’ while handing Chelsea replica trophy The reason Lee Anderson has been quiet on Afghan refugees UK professionals working in the city of London are officially […]

Jack Peat by Jack Peat
2017-10-09 08:17
in Business, News
FacebookTwitterLinkedinEmailWhatsapp

RelatedPosts

Kneecap say ‘no further action’ will be taken against them for Glastonbury set

BBC reporter aghast at ‘jaw-dropping’ water pollution following new report

Trump ‘steals Club World Cup medal’ while handing Chelsea replica trophy

The reason Lee Anderson has been quiet on Afghan refugees

UK professionals working in the city of London are officially the poorest workers in Britain, despite earning the highest average salary in the UK.

Based on new roles advertised in Q3 2017, CV Library revealed that the average annual salary in London is £37,335; a slight dip on the same period in 2016 and just 15.7 per cent greater than the national average of £32,246 per year.

However, further research revealed that 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 revealed how employees in Scotland and North England remain the richest in the UK. 

Lee Biggins, founder and managing director of  CV-Library , explains:  “London continues to be an exciting city to live and work in. Attracting people of all ages and from all backgrounds, there are fantastic employment opportunities within the capital. That said, it’s very clear from our analysis that the majority of workers in London are in danger  of being left high and dry after pay day, placing many in a compromising position.

“While salaries have fallen slightly year-on-year, living costs within the nation’s capital are clearly pushing people to breaking point and the government must work harder to address this. Otherwise, we could continue to see more people retreating from London, in search of areas which offer a better state of living.”

To delve even further, when comparing the purchase of a one-bed flat in London, to a similar one-bed flat in Glasgow, the difference is significant. Whilst the average cost of a one-bed flat in Glasgow is £75,413, the same flat in London would be £529,655; six times more expensive (602 per cent).

However, when comparing average salaries in both cities (£37,335 in London and £32,183 in Glasgow), Londoners only earn 16 per cent more than workers in Glasgow.

In real terms, a professional in Glasgow would spend 16.3 per cent of their salary on a mortgage for a one bed property and still have £1,347 left in their pocket to cover bills and other living expenses.

A Londoner would need 105 per cent of their salary to pay the mortgage alone, leaving them in debt before they have even considered how to cover bills and other basic costs.

Biggins concludes: “Wages and living expenses in London are not relative to the rest of the UK, making Londoners the poorest workers in Britain. While the government is taking steps to ensure that Londoners can afford to live, many job hunters and businesses are continuing to scrape the barrel in order to get by.”

Richest to poorest UK workers: 

Average monthly salary

Basic monthly costs

Remaining income

Aberdeen

£2,247.06

£1,074.08

£1,173

Glasgow

£2,097.01

£1,024.25

£1,073

Hull

£1,885.81

£820.80

£1,065

Sheffield

£1,979.48

£1,002.47

£977

Cardiff

£2,010.08

£1,044.68

£965

Birmingham

£2,038.42

£1,082.95

£955

Liverpool

£1,948.49

£1,029.76

£919

Portsmouth

£1,930.64

£1,050.23

£880

Leeds

£1,955.23

£1,077.09

£878

Southampton

£1,987.70

£1,119.42

£868

Edinburgh

£1,995.46

£1,133.60

£862

Bristol

£2,140.93

£1,289.55

£851

Manchester

£1,976.25

£1,142.99

£833

Exeter

£1,898.68

£1,120.55

£778

Brighton

£1,958.12

£1,341.80

£616.32

London

£2,388.96

£2,193.78

£195.18

RELATED 

https://www.thelondoneconomic.com/news/homeowner-stunned-spotted-extinct-bird-back-garden/25/09/

https://www.thelondoneconomic.com/property/renters-fees-are-still-alive-and-well-in-london-believe-me/09/08/

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← UltraTecno leads the ultrasound cleaning sector ← Civitas expands portfolio
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->