With the cost of living rising and competition for jobs increasing it’s normal to be curious about how your income compares to other people of the same age. You may be interested in asking for a pay rise or a promotion at your current job, or be looking to find out if a move to another area of the country could significantly increase your wages.
The average salary for a 30-year-old in the UK is £28,677. This is based on data from the Office for National Statistics, which shows that median earnings for full-time employees aged 30 were £28,677 in 2021. This figure varies significantly depending on where you live in and what industry you have chosen to pursue a career in.
In this blog, we will look at the differences in average income across 3 main cities in the UK, as well as identify potential industries where you could earn a higher wage. We will also consider factors such as the cost of living in different cities and how this might affect what you take home at the end of the day.
What is the average salary for a 30-year-old in the UK?
In 2021, data from the Office for National Statistics shows that median earnings for full-time employees aged 30 suggests that the average salary for a 30-year-old in the UK is £28,677. The figures are slightly higher for men than for women, with men aged 30 earning a median salary of £29,232, compared to £27,206 for women. The ONS notes that these figures are likely to be influenced by a number of factors, including experience, qualifications, and sector of employment. Nonetheless, they provide a useful benchmark for understanding average earnings in the UK.
What is a good salary for a 30-year-old to make in the UK?
A good salary for a 30-year-old in the UK to make is around £30,000 a year. This figure takes into account the cost of living in the UK and the average salary for someone in their 30s. It also includes a buffer for unexpected expenses or a drop in income. With this salary, a 30-year-old should be able to comfortably cover their basic living costs, have some money left over for savings and recreation, and still have room to weather a financial emergency. Of course, this is just a general guideline – some people will need more or less depending on their individual circumstances. But overall, £30,000 is a good benchmark to aim for when planning your finances as a 30-year-old in the UK.
Which industries lead to a good salary by age 30?
There’s no denying that some careers are better than others when it comes to earning a good salary. The highest-paying industries in the UK for workers aged 30 and under are finance, sales, and information technology, according to a new study.
The report, which was released by job search website Adzuna, found that the median salary for workers in these industries is around £40,000 per year. This is significantly higher than the national average. The study also found that workers in London tend to earn more than those in other parts of the country. The study provides valuable insights into the best industries for young workers to enter if they want to maximize their earnings potential. It is clear that finance and information technology are currently the sectors with the highest salaries on offer and that workers in these industries can expect to earn well above the national average.
If you’re looking to be making an above-average income by the time you hit 30, here are a few industries you should consider getting into.
One option is to enter the world of sales. Salespeople are often rewarded handsomely for their results, so if you’re good at closing deals, this could be a great career choice for you.
Finance is a broad field that encompasses a variety of different jobs. From investment banking and financial planning to insurance and real estate, there are many different career paths that fall under the umbrella of finance. Many finance jobs with high-income potential require a bachelor’s degree, some may require a master’s or even a Ph.D. Jobs like investment banking and stockbroking can be very lucrative, and if you’re good at what you do, you can quickly rise up the ranks and start earning a healthy salary.
Among the most in-demand jobs today are those in information technology, or IT. The IT industry offers a wide range of career options, from entry-level positions to highly skilled roles. More advanced jobs with a higher income potential include network administration, database administration, and software development. IT is also a growing field, with new job titles emerging all the time. As businesses increasingly rely on technology, the demand for IT professionals is only expected to grow. So if you’re looking for a stable career with good income prospects, the IT industry is worth considering.
What is the average salary in London for a 30-year-old in the UK?
According to recent figures, the average salary in London UK for a 30-year-old is around £37,000 per year. This figure is significantly higher than the national average, but it is still relatively low when compared to other major cities around the world. The cost of living in London is also high, which means that many people are unable to save much money after they have paid their bills. However, there are some advantages to living and working in London. The city has a rich culture and history, and there are plenty of job opportunities available. As salaries tend to be higher in London than in other parts of the UK many people feel that the city offers a good balance between lifestyle and earning potential.
What is the average salary in Manchester for a 30-year-old in the UK?
Salaries in Manchester – as well as in the rest of the UK – can vary widely depending on factors such as experience, education, and sector. That said, according to data from the Office for National Statistics, the median salary for a 30-year-old full-time worker in Manchester was £27,600 in 2021.
This figure is slightly lower than the UK average of £28,677 but higher than the North West average of £26,870. Of course, these figures are just averages and do not necessarily reflect what an individual might earn in Manchester. For a more accurate picture of salaries in the city, it is best to consult a reliable source of salary data such as a salary benchmarking site.
What is the average salary in Birmingham for a 30-year-old in the UK?
The average salary in Birmingham, UK for a 30-year-old is £29,000. This is based on the median wage of £28,200 for all workers aged 16 and over in the West Midlands region, which Birmingham is a part of. This means that the average 30-year-old in Birmingham earns £29,000 per year, which is just above the median wage for the region.
Which area of the UK has the highest and lowest average salaries for a 30-year-old?
A recent study found that 30-year-olds in London earn the highest salaries in the UK, followed closely by those in the South East. The average salary for a 30-year-old in London is £37,000, while in the South East it is £40,700.
The study also found that 30-year-olds in Northern Ireland have the lowest salaries in the UK, at just £32,000. These findings suggest that there is a significant regional variation in earnings for 30-year-olds across the UK. While London and the South East offer the highest salaries, other regions such as Northern Ireland lag behind significantly. This may be due to a number of factors, such as differences in the cost of living or the availability of high-paying jobs. Whatever the reason, it is clear that 30-year-olds in London and the South East enjoy a significant advantage when it comes to earnings.
How does the cost of living affect my salary?
The cost of living is the amount of money necessary to maintain a certain level of living. This includes basic expenses such as housing, food, and transport. Where you choose to live and how much you spend on upholding a certain type of lifestyle will affect how much money you need to earn. You will also have to factor in supporting a family if you choose to have one, and how much you wish to put aside each month for savings.
It’s no secret that the cost of living has been on the rise in recent years, and this can have a major impact on your salary. Ultimately, the cost of living is a major factor that determines how much money you need to earn to maintain your lifestyle.
As always, please remember I am an Accountant, but not your Accountant. In this post (and all of my others) I share information and oftentimes give anecdotes about what has worked well for me. However, I do not know your personal financial situation and so do not offer individual financial advice. If you are unsure of a particular financial subject, please hire a qualified financial advisor to guide you.
This article has been written by Luke Girling, ACA – a qualified Accountant and personal finance enthusiast in the UK. Please visit my ‘About‘ page for more information. To verify my ACA credentials – please search for my name at the ICAEW member finder. Please comment below or contact me here to get in touch with questions or ideas for future posts.