Is 27K annual salary a low income which won'e help one through recession?

ninky_2

median weekly earnings are £479 with a considerable gender divide of £521 for men and £412 for women.

only the top ten percent earn over £946. the bottom ten percent earn less than £262.

it's worth remembering these are gross figures (in both senses of the word) and tax will have a considerable impact.

they are also from april 2008.

http://www.statistics.gov.uk/cci/nugget.asp?id=285

Alan_M_2

That's a real eye opener actually.

I genuinely would have put the figures higher.

ninky_2

Alan_M wrote: »

That's a real opener actually.

I genuinely would have put the figures higher.

makes current house prices look even more scary doesn't it?

Pssst

mitchaa wrote: »

Here...

http://www.statistics.gov.uk/downloads/theme_labour/ASHE_2008/2008_work_la.pdf

I can't seem to link straight into it, but if you look at table 7.7 for gross, it gives you the percentile of earnings on the right hand side.

The 50th percentile is at the median earnings of £20,801
The 60th percentile is at earnings of £24,602
The 70th percentile is at earnings of £29,103
The 80th percentile is at earnings of £34,924
The 90th percentile is at earnings of £44,881

So an average £26k earner is somewhere between the 60th and 70th and it's probably safe to say earnings of £27k is at around the 65th percentile.

It's quite handy i thought, let's you know how well you are doing in the salary scale.

Sums has always been a bit of a weakness for me. When we say for eg that the 80th percentile is at earnings of 34,924 are we saying that 20% of the working population earns upto £34,924 ?

If so wouldnt it be more usefull if we had stats that say for example 20 % of the working population earns between £30 and £35k gross ?

SingleSue

80th percentile would mean that 80% earn less and 20% more.

Or that was how it always worked on the baby charts anyway!

mr_jetlag

Pssst wrote: »

Sums has always been a bit of a weakness for me. When we say for eg that the 80th percentile is at earnings of 34,924 are we saying that 20% of the working population earns upto £34,924 ?

If so wouldnt it be more usefull if we had stats that say for example 20 % of the working population earns between £30 and £35k gross ?

Put another way, if you are earning more than 34,924k you would be earning more than 80% of the working population. The statistics here give an indication of how much people are paid in general. The gaps between the highest and lowest earners are not visible until you get into the details.

ukcarper

Reaper wrote: »

I haven't seen the article. Why would low paid earners be affected any more than well paid ones? As long as you still have your job low inflation means your wages go just as far.

Because a bigger % of thier income is spent on things that are going up council tax food etc

Pssst

SingleSue wrote: »

80th percentile would mean that 80% earn less and 20% more.

Or that was how it always worked on the baby charts anyway!

Phew..thanks for that. i can rest easy. I'm on the right side of the divide!

Alan_M_2

Pssst wrote: »

Phew..thanks for that. i can rest easy. I'm on the right side of the divide!

My thought's too, actually I was surprised where I am.

I'm slightly different in so much as I own the company so I look on salary as something that costs my business money. In that respect I simply won't pay myself to a level that incurs 40% income tax, I consider it a waste of money. I'd have though that made me a mid earner, but I'm further up the list than I thought I would be.

Pee

sassygirl wrote: »

Our household income is 17k plus benefits and we manage to run our household quite comfortably. To be honest we havent been hit that bad by the recession yet.

But what amount approx of benefits do you receive?