82% of people we help in the UK earn more than £50,000 pa
In the first half of 2018, the average annual income for Australasian accounting, marketing and legal professionals in the United Kingdom increased to £65k (aud$116k/nzd$125k).
Annual income range from less than £25k to more than £100k. Over 80% are earning more than £50k per annum, and 27% earn more than £75k per annum.
How does that stack up with what people are earning at home? And what is happening with income levels?
How do Average Incomes in the UK Compare to Home?
The largest job board in Australasia, SEEK, recently produced reports setting out Australian average income and salary growth in Australia and New Zealand over the past five years.
- Seek Australia – Top 20 highest paying jobs – 2018 vs 2013
- Seek New Zealand – Top 20 highest paying jobs – 2018 vs 2013
To provide some perspective, we have compared these results with the average income for Australasians in the same professions in the United Kingdom.
Details are set out in the table below which compares average income in Australia, New Zealand and the United Kingdom:
Are Income Levels Increasing?
According to Seek, average annual salaries across the professions we help have increased by 2.7% and 4.5% in Australia and New Zealand respectively over the past five years.
How does that compare with the United Kingdom? Has income growth slowed for Australian and New Zealand professionals in London since Brexit? No, quite the contrary.
By comparison, average annual incomes for the same professions in the United Kingdom have increased by 16.1% since 2013.
Perhaps reflecting the extent of the growing skills shortage in the United Kingdom, average incomes for Australian and New Zealand professionals have actually increased at an accelerated rate since Brexit.
The average income for the people we help find jobs in the United Kingdom increased by 7.1% from £56k in 2013 to £60k in 2016. Since Brexit, UK average income has increased by a further 8.8% to £65k pa.
What Does this Mean for You?
In summary, don’t be put off by negative Brexit headlines, the UK average salary is not decreasing.
Even with a relatively weak exchange rate, working in the United Kingdom and earning pounds is still a smart investment in your future and can increase your long-term earning possibility.
Working in the United Kingdom offers more than financial gain. While you’re making good money in London, you have access to the opportunities only London can offer: the pubs, the theatres, the parks, the galleries, and museums. And Europe on your doorstep. A boost in annual income also leads to a boost in average disposable income, giving you more opportunity to explore everything London has to offer.
SOURCE: Global Career HQ, UK placement analysis H1 18, July 2018