Project Managers - I need your input please

[TheFaQQer]

Hard to get an up to date fact though, many different sites reporting different numbers.

Do any say that 55k gets you into the top 1% of the UK earners?

I appreciate it's difficult, particularly since 94% of statistics are made up on the spot

[northernladuk]

Do any say that 55k gets you into the top 1% of the UK earners?

I appreciate it's difficult, particularly since 94% of statistics are made up on the spot

None. It does mention on at least one article that some professor states it is around the £135k mark for the top 1% now but when discussing the top 1% people are saying you have to take wealth in to account as people on top rates don't get a straight income per year etc.

[Old Greg]

This was fact for the year 2004-2005. Official report is here. .

Hang on a minute.

[tomtomagain]

I stand corrected. Looking at the 2005 salary data earning 55k would mean that you earned more than 97.3% of the population. Not 99%.

Sorry for the confusion.

[Old Greg]

I stand corrected. Looking at the 2005 salary data earning 55k would mean that you earned more than 97.3% of the population. Not 99%.

Sorry for the confusion.

How will that have changed over the last 8 years?

[tomtomagain]

How will that have changed over the last 8 years?

Well I calculated that too .... and if you add in a 3% pay rise per year then 55k in 2005 is the same as 70k today.

However what has happened to wages ( & day rates ) since 2008 is that they haven't gone anywhere.

So if you calculate a 3% rise PA for 2006, 2007, 2008 and then 1% for the period 2009 - 2013 you get 63k.

[TheFaQQer]

How will that have changed over the last 8 years?

Today, 55k puts you roughly in the top 10% of the country. Eight years ago, it put you a lot nearer the top. Longer than eight years ago, it put you in the top 1%.

So next time you're working for £400 a day, and it's 2004, bear in mind that you might be in the top 1% of UK earners.

[Old Greg]

Well I calculated that too .... and if you add in a 3% pay rise per year then 55k in 2005 is the same as 70k today.

However what has happened to wages ( & day rates ) since 2008 is that they haven't gone anywhere.

So if you calculate a 3% rise PA for 2006, 2007, 2008 and then 1% for the period 2009 - 2013 you get 63k.

Do you think income has increased evenly or do you think the top 1% has been increasing more quickly?

[Old Greg]

20 seconds on google leads to: Income in the United Kingdom - Wikipedia, the free encyclopedia

99th centile is £156k.

[tomtomagain]

20 seconds on google leads to: Income in the United Kingdom - Wikipedia, the free encyclopedia

99th centile is £156k.

Yes. That was the same page I got my data from. If you add up the number of tax payers you get to figure that 97.3% earn less than 55k.


Also from the same page:

"According to an annual survey from 2012, the UK standard of living in 2011 was 18% higher than the European average"

Which is an interesting stat we can trot out next time someone says that life is better in Germany, France, Portugal etc.