Check out how the UK average salary by age publicly compares.

You can check your measurements with the Office for National Statistics numbers. (Photo: Getty Images)

Money doesn't buy happiness. As much as we want to believe that sentiment, it also feels like money will solve many of our problems.

And if that can't buy happiness, we'd rather be grumpy on a Fiji beach with a beer in hand than go to work from 9 to 5.

But another saying that is undoubtedly true is the wise words of US President Theodore Roosevelt: Comparison is the thief of joy. If we're constantly looking over the fence with envy at our neighbor's seemingly perfect life, we may forget to enjoy our own.

Except there’s a problem there too. British stubbornness. We wanted to know how we compared to those around us, and the same goes for our annual income.

Discussing pay among colleagues is often taboo. (Photo: Getty Images/iStockphoto)

Thankfully, the business enthusiasts at Forbes have dug into the Office for National Statistics figures to calculate the UK median wage for different age groups on our behalf. This allows you to see whether you sit pretty or are short-dressed compared to your colleagues.

A quick note is that the numbers provided by Forbes are medians, not averages. That's because the true average can be greatly inflated by high earners (thanks to many investment bankers).

The median paints a more realistic picture of what's happening around you. Of course, unless you're in the top 1%, you don't have to worry about all of this. Right?

Average salary for 18-21 year olds: 22,932 (hopefully) it only goes up from here. (Photo: Getty Images)

Not surprisingly, the lack of work experience among 18 to 21-year-olds results in the lowest median income in the whole of the UK. The average weekly income is 441.

It's difficult to demand top-tier wages at this stage unless you're lucky enough to kick the ball well enough for Chelsea to add you to their small army.

The good news is that earnings generally increase with age and length of employment.

Average salary for ages 22-29: 30,316 By now, my parents were already living in their third home. (Photo: Getty Images)

This is closer to the overall UK average annual salary of around 34,000.

At this stage we had gained some experience and were still young enough to think that people were energetic, passionate and full of ideas to shake things up.

The reality is we're more concerned with having to accept the fact that we'll likely never own our own home because we spent all our money on those avocados. This works out to 583 per week.

Average annual salary for those aged 30 to 39: 37,544 This is where the wage gap between men and women widens significantly. (Photo: Getty Images)

As mentioned earlier, salaries generally increase with age. So now that you're in your 30s, you can expect to earn 722 per week, giving your salary another boost.

This is very necessary if you are planning to start a family and settle down, or simply want to live a 2 hour 200 minute train ride from London.

Average annual salary for those aged 40 to 49: 40,040 Enjoy it for a long time (Photo: Getty Images)

It may be the time of your midlife crisis, but on average, it's also the time when you earn the most money of your life. To be exact, 770 per week.

No wonder so many men in their 40s own convertible sports cars. It's all downhill from here, so enjoy it while you can. If you buy that BMW, it will look cool.

Average salary for ages 50-59: 37,804 Achieved well in many ways. (Photo: Getty Images)

Turns out, 30-year-olds and 50-year-olds have more in common than we thought. They both earn an average of about $720 per week.

As you can see, this is usually the point where your earnings start to decline again. Maybe it's because energetic young people see us as workplace dinosaurs, or maybe it's simply because we've realized at this point that our energy is better spent finding happiness elsewhere.

Average annual salary for those over 60: 33,852 If you're lucky, work alarm clocks will soon be consigned to history. (Photo: Getty Images)

Ah, it looks like the sweet liberation of retirement is near.

Although, if you're one of the average Joes who's been tracking your progress through this list, you're likely to be further along than you bargained for, especially since your earnings are declining again, this time down to 651 per week.

Forbes cited factors such as more workers leaving the workforce, working part-time, or poor health as reasons for the decline in average wages after age 50.

How does it compare?Gender wage gap

It is important to note that men's average salaries are higher than women's average salaries across all age groups.

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This gap widens significantly starting at age 30. Forbes says there's no doubt about it, as more women than men have had their career paths further interrupted by the responsibilities of caring for children or elderly relatives.

The lowest gender pay gap is between 18 and 21 years old (women earn $728 less per year on average than men), and the highest is between 50 and 59 years old and 60+ (women earn $7,176 less per year on average).

This article was first published on September 3, 2024.

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