Your age isn’t the only number that increases over time. As you accrue more experience in the workplace, your value to employers inevitably increases, and therefore salary expectations should follow in line.
There’s a direct correlation between age and salary – for most of your life, they will increase together as you learn new skills, gain more experience and increase your potential. But it also depends on several variables, including your industry, development, skillset and even gender.
Graduate Salaries in the UK
What starting salary can you expect as a new graduate? According to Glassdoor, UK graduates in 2024 can expect an average base pay of £22,000 to £45,000 a year (an average of £36,302).
Naturally, the sector you join and the city you live in will influence where your paycheck falls within this range.
Earnings by Age Group
Recent data from Forbes shows that annual salaries typically reach their peak for workers in the 40 to 49 age group.
| Age | Annual Salary | |||
| 18 – 21 | £22,932 | |||
| 22 – 29 | £30,316 | |||
| 30 – 39 | £37,544 | |||
| 40 – 49 | £40,040 | |||
| 50 – 59 | £37,804 | |||
| 60+ | £33,852 |
Other Factors that Influence Your Salary
These factors play a significant role in determining how much you should be earning throughout your career.
Education: It is well known that a degree, at least a suitable qualification from a reputable institution, will positively affect your salary potential. A job hunter with a solid education can expect to come in at the higher end of the starting salary spectrum.
Experience: This is perhaps the most obvious factor and the one that most closely correlates with your age. The number of years you have spent in a particular role, sector, or industry will significantly impact your salary expectation. This also goes hand-in-hand with anticipated skills development.
Industry: Salary ranges differ widely across sectors, not only when you’re a graduate but throughout your career. This is based on the skills needed, demands on the employee and level of education required.
Which industries are attracting the most entrepreneurs? Read about the most popular startup industries by UK city.
Company: Big, small, traditional, progressive… any number of attributes will influence how much a company pays their employees.
Gender: Women earn less than men for full-time work across all age groups. The gender pay gap is especially noticeable among employees aged between 30 and 59. Data from Forbes shows the following pay differences by gender:
| Age Group | Men | Women | |||
| Annual Gross Pay | Annual Gross Pay | ||||
| 18 – 21 | £23,244 | £22,516 | |||
| 22 – 29 | £31,408 | £28,380 | |||
| 30 – 39 | £39,260 | £35,100 | |||
| 40 – 49 | £42,900 | £36,192 | |||
| 50 – 59 | £40,768 | £33,592 | |||
| 60+ | £36,244 | £29,068 |
Positive news for women in the workplace: UK sees almost 150% increase in female leadership positions.
Ten Fastest-Growing UK Industries
These industries saw the biggest revenue growth* between 2023 and 2024, indicating the possibility of better job opportunities and earnings in the future:
| Industry | Revenue Growth for 2024 | |
| 1 | Financial and insurance activities | 195.5% |
| 2 | Mining and quarrying | 10.1% |
| 3 | Transportation and storage | 6.3% |
| 4 | Administrative and support service activities | 6.3% |
| 5 | Accommodation and food service activities | 6.3% |
| 6 | Professional, scientific and technical activities | 4.6% |
| 7 | Other service activities | 4.5% |
| 8 | Education | 3.7% |
| 9 | Wholesale and retail trade | 3.5% |
| 10 | Human health and social work activities | 3.2% |
What Employees Want: Does More Pay Equal More Happiness?
While earning a good wage plays an essential role in overall job satisfaction, it’s not the only factor that keeps employees loyal.
According to 2023 hiring trends data from Glassdoor, creating a positive company culture is more important than ever. More employees are seeking new jobs due to stress and lack of satisfaction in their current jobs, and 46% of workers are holding their employers to higher standards, saying that their expectation of happiness at work has increased in the past year.
Key findings from a recent “What Workers Want” survey revealed that flexibility is the biggest factor for employees when deciding whether to leave a job. In fact, 50% of employees† who don’t currently have flexible working options say they want to change jobs in the next year. Other factors prompting employees to look for new jobs include unhealthy work culture, poor leadership and dissatisfaction with pay.
The survey also showed that most employees consider 8% to be a fair pay rise for 2024.
How Does Office Space Contribute to Happiness at Work?
There is a definite link between employee satisfaction and the type of space we work in.
Some researchers say open-plan offices promote lower stress levels, while others say commercial property integrated with tech can improve productivity and free up time for more creativity. Ultimately, it’s all about striking a balance and offering flexibility – a top priority for employees.
When considering where to work, look for companies that offer remote or hybrid working, the opportunity to collaborate in coworking spaces, a strong culture and a focus on work-life balance. Employers who typically focus on employee well-being and happiness as a priority are more likely to attract and retain the best talent.
Find your perfect flexible office: 10 of the best coworking spaces in London.
Three Tips for Increasing Your Salary
Whether you’re in the highest or lowest-paying industries, there’s always room to grow. Your salary and potential earnings will increase as you improve your skills, knowledge and experience, but there are a few ways you can increase it right now:
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Negotiate a salary raise
Keep details of your achievements at work and use them as leverage when negotiating a salary increase.
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Research and compare your salary
Know how much your skills are worth and compare your salary with the industry average for an overview.
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Become an expert
Consider training or studying short courses to become more knowledgeable in your industry.
The moral of the story? Keep improving your worth, learning from great mentors and studying your niche to fund success in your industry through every stage of your career.
Are you confused by office rental terms or want to brush up on your office jargon? We’ve created a useful Glossary of Flexible Office Space Terms, whether it’s hybrid, hotdesking or flexi working you’ll find all the explanations you need.
*Based on analysis of the IBISWorld database of 440+ UK industries
†Based on a survey of 2,017 UK employees
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Lmao at these highest paid jobs. Investment bankers earn GBP 80,000-200,000 with bonus at their 20’s.
These encompass a very small minority of the working population (in case you hadn’t noticed….) in a very unstable environment that is often not particularly stimulating or interesting once people realise what’s involved – office based, long hours, and a dull-ish spread-sheet driven work pattern. It also has a fairly poor reputation. Money is absolutely not the key to a good life….
I’m afraid money is the key to a good life generally speaking maybe not happiness
In terms of scientific work…….The UK is dying…its a dead empire….much better wage prospects in other parts of Europe
30 years old with 2 patents to my name….many high skilled jobs…..and yet still struggling to get even 20k per year…..UK is awful for science jobs in certain areas…..what a mess……too often we blame individuals ..but Ive worked damned-ably hard……get out of the UK is good advice for some
Where do you work? I’m just 30, have a patent to my name and a highly skilled job in engineering. My yearly take-home (before tax) is well over three times that you’re suggesting.
Quite agree with Garin’s suggestion to avoid the public sector. I’m a Chartered professional and I have a Leadership qualification. I work in the NHS, where I’ve worked in the same hospital trust for 23 years and earn about £8k a year less than is suggested above.
You should have left after the first few years of a stagnant salary. It’s entirely your fault for not moving and then using that job offer to either negotiate a better salary or earn a better salary elsewhere.
The public sector in one respect, is just like the private sector. It will pay as little as possible until it is forced to pay higher.
Are you in a bit of a bubble AK. One cannot negotiate pay in the public sector, it is take it or leave it. I suspect, unlike your profession which probably has vacancies in the same area, some types of job, usually requires a long distance move to another part of the UK. When you have a home, commitments, family considerations, etc, not always possible. I know public sector employees, where the other half (wife, husband, life partner etc) is the bread winner, so a geographical move is out of the question. Yes, I have been offered a much, much better salary elsewhere, but not in the right part of the country. One of my public sector colleagues from that part of the country, took the job offer after my onward referral, and doubled his salary. One could argue the public sector is being forced to pay more, but is refusing to, it really does have a retention and recruitment problem, such as over 30,000 nurse vacancies and more leaving than joining. Public sector forestry, my profession, often has to advertise vacancies several times to get suitable applicants, (e.g. the recent advert for two vacancies for forest planners in Huntly), that says there is a salary problem. However, the Treasury is refusing to allow the individual departments to pay the market rate. Result, the individual departments drop the qualification and experience requirements just to fill vacancies, making it look like there are no problems. The same market rules should apply to both private and public sector, but unlike the private sector, the public sector is limited to no more than 1% increase on salaries budget. I stand by what I said, if you can move from the public sector to private, do it.
“It’s entirely your fault for not moving” …. oh cut him some slack….you act as if humans are PERFECT robots with full knowledge………get a grip …. people need help and guidance…not shaming
how long has that problem been in your life is it poverty, no more jobs, you have not been upgraded at your place of work or your husband is not loving you anymore, a fruit of the womb, you need gambling powers call me on +2349062323996 or email me on babaodiholyshrine@gmail.com and get all of your problems solved in less than 3 nights if you are ready for a change of situation.
Avoid the public sector, and forestry, after 30 yrs, degree qualified, my basic is still only £25k/yr, and the Tory chancellor philip Hammond reckons I’m overpaid!
You should have left after the first few years of a stagnant salary. It’s entirely your fault for not moving and then using that job offer to either negotiate a better salary or earn a better salary elsewhere.
AK, see my reply above. If you have ever had to up sticks and move to another part of the UK, such as Northern Ireland, or SW Scotland, let me know. The public sector will not negotiate salary. You will see not always so easy, especially with commitments. I’m now in a position to move geographically, probably will. I stand by what I say, avoid the public sector, pay, reward, recognition etc is not great for professional grades. Having spent half my career in the private sector, I am under no illusions.
the UK is a mess….its profit greedy and doesnt give a damn for the once vibrant and beautifully diverse communities here