What are the UK’s most youthful cities? Where can you get higher wages if you are under 30 years old? We present a very interesting analysis result rating!
How much do “young people” earn working in the UK? In one sentence, the average 20 people earn £22,622 a year and have more than £300 a month to spend on their ‘spendable budget’ (roughly what’s left after basic needs are met), according to a new study by First Direct. Perhaps you would expect London to offer the greatest opportunities and the highest salaries, there was not only the capital of Great Britain, but also the giant of the world economy and the backbone of the entire economy of the United Kingdom. We will surprise you – the British capital did not take first place in the ranking considering the average earnings of people under 30 years old!
What are the UK’s most youthful cities?
Average wages in Liverpool are £27,716 per year, while in London average wages are ‘only’ £25,524. Annually, a young employee will earn in Newcastle 25370, in Manchester – 23402, in Bristol – 22.290. For comparison, you can see how things are in Scotland (Glasgow – 22591 per year, Edinburgh – 25365, overall the third highest average in the UK) or Wales (Cardiff – 21,346 per year).
It should be noted, however, that the “mere” salary is not enough! It is worth considering how much is left in your pocket after paying bills, rent and other “life” expenses. How is this ranking in terms of “disposable income”? Liverpool are once again back on top with a monthly average of £423, followed by Newcastle (£403), Edinburgh (£374) and Bristol (£340).
Where do you expect higher wages?
As for London, the potential budget is ruined by the cost of rent, which is expected to be the highest in the capital. On average, a youngster spends up to £732 a month on this title! Leicester housing is very expensive outside of London (£686 a month). At the other end is Glasgow (£420).
Analysis shows that Cambridge is the home of young people who are most willing, and perhaps even better, to save. The national average young people spend on things they don’t really need is £520, but those who live in Cambridge spend only £270. How much savings do young people in the UK have? The national average is £3,599 in cash savings. In London, it occupies the largest number (4118 pounds), the least – in Manchester (2643 pounds).
What are the costs of living in a British city?
It is also worth noting that Liverpool’s highest profit ranking may be due to the fact that the economy of North West England was developing the fastest of any pre-pandemic area of England.
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