What is average income ni? 5 February at 11:40AM in Debt-free wannabe 5 replies 479 views

Nervsmomma2022

Hi i have debt i need to get paid down but i have a decent enough job getting £17 per hour at 39 hours a week. Just to put things into perspective had looked up average wage and its basically what i am getting. The average wage seems to be extremely high compared to what alot of people get or am i missing something? My partner is disabled and only works at certain times and a wage for him would be like half of what the normal is. Is the average wage statistics accurate? 

Flugelhorn

the thing about an "average" is that it will be skewed by some people earning very high hourly rates 

kimwp

Hiya! Why does it matter what the average is?

Nervsmomma2022

kimwp said:

Hiya! Why does it matter what the average is?

I was just interested to see were my wage fitted into it lol

kimwp

Nervsmomma2022 said:

kimwp said:

Hiya! Why does it matter what the average is?

I was just interested to see were my wage fitted into it lol

Ok, well it would depend really what group you were trying to understand the average for. Different cities will have a different average, different ages will have a different average, groups with different educational attainments will probably have different averages.  Entrepreneurs and business owners will report lower wages because dividends are charged at a lower rate than income tax, but their income will be a lot higher. So there isn't one average. Googling "average wage in the UK" gives fairly different answers in each of the results.

kimwp

You could try this calculator, it shows you how you compare to others in the uk by comparing other things like your dependents as well as income - a single person on £30k will have a lot more money than a family of four on £60k.

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/articles/incomespendingandwealthhowdoyoucompare/2022-03-09