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. As the National Living Wage comes into force on 1st April 2016, the question arises about which are the best and worst paid jobs in the UK. There have been many articles published about this subject and 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 and although these articles usually end up citing the same predictable 10 best and 10 worst paid jobs, the question about wages is actually far more complex.
At first glance you could probably predict that a cleaner working through an agency usually comes out as the lowest paid and at the other end of the scale you will find brokers, bankers and other professionals. However, there are many factors to take into consideration that may not show up in official statistics and in this series of articles we will be looking at a whole raft of components that can influence the rate of pay that is on offer to individuals on payday UK.
Important yet Excluded Factors about wages in the UK
Some of the factors that are often not taken into consideration are the differences between genders, age groups and 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 even though it saves the government hundreds of thousands of pounds in child care grants.
Another aspect of the subject that may not be included is whether or not 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 a university 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 and 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 and 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 and serve to highlight some aspects about earning power in the UK that have previously not been considered.
The Payday Slip Explained
One of the factors in determining the kind of earning power that you can expect if you are a school leaver or a university graduate, is the amount of education that you have received. In the UK, there is very little emphasis on educating our young people about financial matters although this is due to change in the near future. This means that many people leave education with a limited understanding about how to read a payday slip and whether or not they are getting their full rights as a new employee.
Reading and understanding the information that is contained in a payday slip is essential and 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. Without these deductions being paid to the government, your rights to a state pension or other benefits such as the maternity allowance will be at risk.
Who Is Entitled To A Payday Slip?
All employers must issue a written payday slip with full details of your wages and deductions and this applies to staff that are employed by the company on a casual basis as well as permanent employees. Employers are, however, allowed to send a payday slip to you using electronic means by either an email or by access to the employer’s website and 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 and these include police officers, merchant seamen and fishing crew. The reasons for these exemptions are not made clear on the gov.uk website except for the issue around exemption for fishing crew who may be paid by means of a share of the profits from a haul. However, in reality 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 and those people who work in a freelance capacity do not have to be issued with a payday slip.
We hope this guide helps you decide which profession to go into. Hopefully, after reseraching the best paid jobs in UK, you won’t need the help of short term online UK loans anymore!