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Whether you’re a university student thinking about future employment, or a working professional contemplating a career change, many factors are at play when deciding next on which job to go for. And one undeniably important factor is simply: Which career pays the most money?
Of course, the right job for you depends on much more than just salary. But earning potential is also likely to be a key concern, especially if you’ve invested time and money in higher education.
So, what are the highest-paying jobs in the UK? We’ve used data from the Office for National Statistics’ Annual Survey for Hours and Earnings or ASHE (published in November 2023) which includes detailed information about the working population and pay, to discover more about top paying jobs and salaries.
Key statistics
To understand how the highest-paying jobs fit into the overall employment market, here are some facts about work and pay (sources: Census data 2021, ONS ASHE 2023):
- According to the latest census data (March 2021) 37.5 million people in England and Wales are of working age (18 to 64) which equates to 62.9% of the population. And those (aged over 16) 16, 29.4 million were recorded as being in work – or ‘economically active’
- The median* weekly earnings for full-time employees was £682 in April 2023, which is a 6.2% increase on the £642 in April 2022. This is the highest growth since comparable records began in 1997. However, when the effects of inflation are taken into account full-time pay fell by 1.5% in real terms
- The median average gross annual earnings for full-time employees was £34,963 in April 2023, a 5.8% increase over the £33,061 recorded in April 2022
- The highest-earning employees are concentrated in managerial and professional occupations, and are aged between 35 and 49 years. There are concentrations of higher pay in the information technology, communications, finance and insurance service industries
- Men are more likely to be highly paid than women (27.7% compared to 19.1%). Highly paid is defined as at least £23.82 an hour or £37,159 a year (gross) – more on this below
- Full-time workers are more likely to be highly paid than part-time employees (27.4% versus 12.5%).
* The median average is found by ordering all pay from lowest to highest and finding the exact middle value. It is the ONS’ preferred measure of average earnings, as it is less affected by a relatively small number of very high earners than the mean average.
Average pay in the UK
The median average weekly pay of full-time workers was recorded at £682 in April 2023 (the latest data from the ONS ASHE survey), and the median gross (before tax) annual earnings for full-time employees is £34,963. This is a 5.8% increase on the £33,061 average recorded in April 2022. Full-time work is classed as working at least 30 paid hours per week (25 hours for teachers).
Part-time median weekly pay was recorded at £241 in April 2023, which equates to an annual pre-tax salary of £12,527. This is a 5.5% increase on the previous year.
Average employee wage inflation (including bonuses) was recorded at 5.7% (May 2024) for the three month period of January 2024 to March 2024. It means the growth in wages is running higher than the rate of inflation (currently at 2.2%).
Average weekly income
Average pay and gender
Median average pay varies between the sexes. Median weekly earnings for all men (full-time and part-time) increased by 6.8% from £623 in April 2022 to £666 in April 2023 and for all women by 9.1% from £450 to £491.
Men were also found to be more likely to be higher earners than women. There are many factors which contribute to this, but in particular, men are less likely to take time out of the workplace than women, on average, to take up caring responsibilities such as looking after children or elderly relatives.
Average income (all workers) for men and women
Average pay and age
The age of workers has a large bearing on how much they earn, or their likelihood of being high earners.
Average salaries vary widely by age with full-time workers aged between 40 and 49 earning the highest average salaries (£39,491 gross per year recorded in April 2023).
This compares to average full-time salaries of £29,120 for those aged between 22 and 29 for example – more than £10,000 less per year than those in the older age category.
Median average full-time pay by age:
- 18-21: £20,437
- 22-29: £29.120
- 30-39: £36,405
- 40-49: £39,491
- 50-59: £36,834
- 60+: £32,530
What is high pay?
Around one in five workers (23%) are classed as being in high paid jobs, according to the latest ONS data. Although this has fallen marginally, from 24% in 2022 and is down from the 25-year high of 26.9% recorded in 2011.
High pay in this instance is calculated as receiving an hourly rate of pay that is one and a half times that of the median average, or more.
As median average hourly pay (across both full-time and part-time pay) is £15.88 it means high pay would be classed as £23.82 per hour. This equates to pay of £715 per week for a full-time worker (based on 30 paid hours), equivalent to an annual gross salary of £37,159.
It means anyone earning above around £37,000 per year before tax is considered to be on high pay. This is below the threshold for higher rate tax in the UK. Workers earning more than £50,270 fall into the higher rate (40%) bracket for income tax.
What are the highest paying jobs?
It is perhaps unsurprising that the highest paid workers in the UK are chief executives and senior officials, who were recorded as earning an average annual salary of £84,131 in April 2023, according to ONS data. This is 140% above the national median average annual full-time pay, which stands at £34,963.
Chief executive pay is closely followed by marketing, sales and advertising directors, information technology directors, and those working in senior and managerial roles in communication and public relations. Directors in logistics and warehouse management also earn much higher salaries than the median average.
Interestingly, senior medical specialists and practitioners, head teachers, barristers and senior lawyers, architects and actuaries, all professions which require many years of study and training, all come lower down the list than those of corporate directors.
Top 10 jobs with the highest average pay
Tips to getting a high paying job
Getting into a highly paid career is likely to take many years of study, training or work experience, or most likely a combination of all three.
As a general rule the more experience and skills you have in a particular field or role the more you’ll be paid. This is one of the main reasons for the highest median pay falling in the older age categories, typically those aged 40 to 59.
Whether you’re just starting out on a chosen career path, or you already have a number of years of work under your belt, there are a range of useful things you can do to boost your earning potential.
Have a plan
It’s important to have a career plan to clarify where you want to be in five or 10 years’ time, and what you’ll need to do, in terms of training, qualifications and experience, to get there.
Enlist the help of a mentor or coach where possible, perhaps a trusted senior colleague in your workplace, to discuss your goals and ambitions and a realistic plan of action.
Skills, training and experience
The more skills and experience you can gain the more likely you’ll be promoted or hired for more senior positions in new companies and organisations, boosting your salary in the process.
While this can take time and money, particularly if you’re shelling out for your own training courses and qualifications, it can be an excellent investment in your future earning power.
If you’re going to fund your own training to become a pilot, for example, estimates suggest this could cost around £130,000 and could take up to two years.
ONS data shows the median average annual gross salary for a pilot is £71,676, meaning net annual pay would be around £50,000 per year. Based on this it would take just over two and half years to ‘earn back’ the initial £130,000 outlay in net salary.
If you’re an employee, ask your employer what on-the-job training it can offer, or if there are any in-house programmes that will enable you to gain new skills.
For some roles and professions it will be important to improve your skills in a specific field or area so you can become an expert. For IT professionals, such as software developers, for example, a bootcamp or tailored course could be valuable. Fine tuning your expertise is a great way to increase your chances of finding new roles.
Gaining general workplace skills, such as management, leadership, and IT knowledge can also be important as you progress in your career. Experience and skills in these areas can help you stand out when applying for a new job.
Do your research
Find out the average salaries for the roles you’re interested in, and at different levels. This can help when it comes to applying for a promotion or when moving to a new employer. Recruitment websites, such as Glassdoor and LinkedIn, and trade bodies can often help with finding out salary information.
Actively looking for new roles and being prepared to move can be a good way to boost your pay, depending on your particular field of work.
Bear in mind that the job location will often affect salary: are you prepared to move to a new area to earn a fatter pay packet? Remember to balance any increase in pay with the potential higher housing and transport costs in some cities, such as London, for example.