Average and minimum salary in London, United Kingdom: let’s check wages and the economy of the iconic British capital and most populous city
Considering to invest or relocating to London to boost your career? Check the data for the average and minimum salary in London, United Kingdom and understand why this city is one a powerful financial hub attracting world wide investments.
London has an undeniable role in the global economy since the British Empire. Today, the capital is one of the most dynamic in the world, attracting professionals from all backgrounds and nationalities to build a career in London.
Minimum Salary in London, United Kingdom
Currently the minimum salary in London and the whole of United Kingdom is of £10.42 per hour for those aged 25 or older as of 2023. Considering that the working week in the UK has usually 40 hours, and the average number of working days per month is 22, the minimum salary in the UK is usually around £ 1833 pounds.
There are a number of things to consider when calculating minimum wage in the UK. Among other factors, the age of the worker, and its apprentice status influence the final pay. You can read more about minimum wages in the United Kingdom on this British government website covering the topic.
Average Salary in London, United Kingdom
As London is an extremely wealthy city and a global financial hub, it is not a surprise that average wages in London are among the highest in the world. The average net salary in London is currently between 3300 and 3800 GBP per month net for most professions.
There are job opportunities in London in virtually any economic sector. However it is important to remember that the cost of living in London is pretty high. For that reason, careers with a prospect of high earnings are the most recommended ones for those willing to relocated to London. The finance and technology industries are some of the sectors with the best job prospects in the English capital.
United Kingdom Economic Outlook
Despite recent uncertainties in the UK, mostly involving the Brexit, London is still one of the most attractive cities in the world to build a career. Its high salaries, great network possibilities and the use of English language attract professionals and companies from almost every country in the world.
The UK also has a more flexible tax system than most EU countries, which contributes to the capital influx to London. Despite its expensive real estate market, salaries in London remain attractive for most professions in the city.
Interesting Resources for Working and Living Abroad
Are you really considering to work and live abroad, temporarily or permanently? Below are some resources that might be useful for you around the web:
World Nomads: this company provides travel insurance in most countries around the world. It might be a good option if you going for a long travel.
Booking.com: Booking.com is the best choice for finding accommodation for your next trip. It offers a wide variety of accommodation options for all types of travelers.
You may also want to check our website guides:
Train Travel Guide: in our railway travel guide, you will learn how to choose and ride the most scenic train routes around the world. Travel always in the most comfortable way with optimal prices to enhance your travel experience.
Work Abroad Guide: Learn how to find a job and employment requirements in different countries. From the initial job search, to bargaining salaries, this guide will help you to find job in most countries. It also covers about remote work and TEFL jobs.