Welcome to Cashfloat’s guide on best and worst paid jobs in the UK! In this guide, we’ll go through many different jobs and their specific advantages and disadvantages. Read to find out which are the best paid jobs in the UK? Or which will leave you scrambling for same day cash loans? All the information you will need is right here. Don’t fancy reading lots of boring text? Check out our infographic instead!
The Best And Worst Paid Jobs In The UK
What factors affect how much you earn? Cashfloat presents a free guide, helping you discover the REAL statistics of payday UK. The National Living Wage comes into force on 1st April 2016. Since them the question arose about which are the best and worst paid jobs in the UK. There have been many articles published about this subject. The Office of National Statistics releases a survey every year called the Annual Survey of Hours and Earnings. This government publication always results in a rush of articles from newspapers, other publications and job related websites. These articles usually end up citing the same predictable 10 best and 10 worst paid jobs. However, the question about wages is far more complex.
At first glance you could predict that a cleaner working through an agency usually comes out as the lowest paid. You most likely think that at the other end of the scale you will find brokers, bankers and other professional workers. However, there are many factors to take consider that may not show up in official statistics. In this series of articles we will be looking at a whole raft of components that can influence the rate of pay.
Important yet Excluded Factors about wages in the UK
Some factors that are not thought about are the differences between genders, age groups. Also, not thought about is the many people who are self-employed or work part-time. Those who earn a living in the arts like painters, actors, dancers and writers may also be excluded from the official statistics. Also, never included in the government’s figures are those people who work in the home bringing up a family. This is rarely acknowledged to be a valuable occupation. It saves the government hundreds of thousands of pounds in child care grants.
There are other aspects of the subject that may not be included. This is whether the increasingly ageing population of the UK has any bearing on the earning power of the younger generation. The fact that a high proportion of young people now enter into uni education has also had an impact on the rate at which some jobs are paid. The increasing numbers of EU immigrants may also have influenced the amount that can be earned in specific occupations.
It is very difficult to compare jobs in essential services like hospital workers with those in business sectors like financial services. The articles are looking at a wider picture than that given purely by rates of pay. The chapters cover a whole range of subjects that relate to the earning power of people in the UK. There are no winners or losers at the end.
Hopefully, the results will show some of the more interesting features about UK rates of pay. They should serve to highlight some aspects about earning power in the UK that have previously not been considered.
The Payday Slip Explained
There are factors which can help in determining the kind of earning power that you can expect if you are a school-leaver or a uni graduate. This is the amount of education that you have received. In the UK, there is little emphasis on educating our young people about financial matters. This means that many people leave education with limited knowledge about how to read a payday slip. They have little knowledge about whether they are getting their full rights as a new employee.
Reading and understanding the information that is contained in a payday slip is essential. It will help you to confirm that you are getting the right amount of salary at the agreed rate of pay. It will also allow you to check that the correct amount in deductions have been made for tax and National Insurance. If you do not have these deductions paid to the government, your rights to a state pension will be at risk. This includes benefits such as the maternity allowance.
Who Is Entitled To A Payday Slip?
All employers must issue a written payday slip with full details of your wages and deductions. This applies to staff that are employed by the company on a casual basis as well as permanent employees. Employers are, allowed to send a payday slip to you using electronic means by either an email or by access to the employer’s website. They are not required to issue an actual paper advice slip.
There are certain professions where employers are exempt from the requirement to issue a payday slip. These include police officers, merchant seamen and fishing crew. The reasons for these exemptions are not clear on the gov.uk website. The only exception is the issue around exemption for fishing crew who may be paid by means of a share of the profits from a haul. However, police officers do receive a payday slip but by electronic means and not on paper. Self employed contractors who may be doing work for a company do not have to be issued with a payday slip. This includes those who freelance.
We hope this guide helps you decide which profession to go into. Hopefully, after researching the best paid jobs in UK, you won’t need the help of short term online UK loans anymore!