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Original poster

How much has your salary increased in last five years

133 replies

Ffvv666gg · 23/03/2023 07:03

Just realized that I've been with my employer for five years - checked our salary scales and in that time my salary has increased by 20k. On the one hand, feels like I should feel richer but on the other with prices going up as well as interest rates on our mortgage, it feels like we are no better off now. Changing employers won't help as we are on nationally negotiated payscales. How much have your earnings gone up in last 5 five years?

OP posts:
Wazzzzzuuuuuuup · 23/03/2023 07:41

23k with two promotions in the public sector. If I'd stood still it would have been just over 10k with pay reform that has been applied. This was an interesting exercise. I'm almost wondering if the striving for the promotions and all the extra stress and responsibilities were worth it. For added personal finance fun, I've just done a take home pay calculator to find I bring home an extra £225 per month in my pocket. This goes done way towards covering cost of living increases that have occurred in the period, and explains why I don't feel any richer.

My pension contributions have gone up by 3.2%, I pay higher rate tax (and national insurance) above 50k, and I've lost my child benefit. I have 2 dcs still to go to uni and will be able to borrow only the basic loan so will need to top up 5-6k each per year to cover their accommodation. Dh continues to be on a very low salary ( just above min wage).

The long term prospects are better. My student loan will be paid off very soon due to higher contributions, and my pension will be decent.

Hobert · 23/03/2023 07:43

38,125 without changing jobs but I was underpaid 5 years ago for the role I was doing

RollerGirl7 · 23/03/2023 07:46

66k due to several promotions and switching companies. If I hadn't moved roles prob would have gone up 5/6k

owiz · 23/03/2023 07:47

150% ish (£26000 to £66000) I've changed job completely once, then got 2 promotions (which I had to apply for) I aim to be on 6 figures within the next 5 years. I've been pretty dogmatic about increasing my pay, I'd still be on sub £30k if I hadn't taken action.

WingBingo · 23/03/2023 07:47

I’ve been promoted twice, so 30k

still struggling though, which is madness

Secretboringsister · 23/03/2023 07:49

I’m down £30,000 after being made redundant and having to find a new job.

spelunky · 23/03/2023 07:49

Ffvv666gg · 23/03/2023 07:27

@spelunky thank you. Just checked and essentially I have been standing still especially when you include interest rate rises. It demoralizing

A lot of us are basically standing still.

My real terms salary is a tiny amount more than it was in 2018, even though I am now in a management role, have a ton more responsibility, and we are 5 years on.

It's ridiculous really but most people are in the same boat, if it's any consolation.

SnowyGiveAway · 23/03/2023 07:51

Wow some of you are really well paid! I'm taking home £1k more a month, however that is due to:
No longer having a childcare salary sacrifice
Going up 2 days a week
Doing an additional (work funded) post grad
Taking on an entirely new role with a gazillion times more work and responsibility 🤣
So not all that impressive really, and I've clearly made different (worse) choices than some of you!!

FawnFrenchieMum · 23/03/2023 07:53

About £7k, moved companies and had a personal rise. Currently trying to negotiate another rise or will be looking externally.

Dont feel any better off though at all.

Namechanger355 · 23/03/2023 07:53

£80k but due to two promotions in private sector and now in a top rung - but have had two kids since so feel poorer than I used to tbh

if I hadn’t been promoted there would have been a £5k pay rise

Bearpawk · 23/03/2023 07:54

Oblomov23 · 23/03/2023 07:32

None. I've stayed in the same job for years.

With no salary reviews @Oblomov23 ?

Nap1983 · 23/03/2023 07:55

Potatomashed · 23/03/2023 07:15

Wow none of you work for the NHS… top of my band so despite moving jobs twice and gaining a masters, approx 3k

I do… also top of band. The biggest increase has been last year and year coming. I’m in Scotland though. Think about 4k ish

Palmface · 23/03/2023 08:00

I'm earning about the same. Moved countries in that time and I think my skills are paid at a lower rate where I live now compared to UK.

DH's skills, however, are valued more highly here and he's had a few promotions so his salary has increased by about £150k.

strawberryicecreamice · 23/03/2023 08:03

Min wage was £7.50 in 2018 and next month it's £10.42. So got up by that in 5 years

user1472831787890 · 23/03/2023 08:03

6.5k which I didn't think was too bad, but my salary 5 years ago is below today's minimum wage.

Whendovescry03 · 23/03/2023 08:08

£50k due to promotions. 5 years ago I was on minimum wage.

Dibbydoos · 23/03/2023 08:19

I was employed 5 years ago - director job (not board level), so good pay.
I'm now self employed but inside ir35 this year ie I earn less than if I was employed because out of my pay comes my own stoppages, employer stoppages and I have to pay an umbrella Co to administer my contract.

On grossfincome figures, my income has gone up 46%. On net figures, it's 25%. Luckily, also run my Ltd company alongside this and pick up additional work, so overall c50%. Every year it's a challenge to find new work when you're self employed, so I consider the higher salary to be a safety net not extra spending money.

KatieKline · 23/03/2023 08:19

29k increase, but that is because I have qualified as a solicitor (private sector) and am in a very niche area of law.

Gufo · 23/03/2023 08:19

13k before tax (changed jobs twice, and 5 years ago had just changed career to a new sector)

Itsbytheby · 23/03/2023 08:33

£26k, both that included a couple of promotions - and a slight reduction in hours, so wasn't just pay increases. My full time equivalent wage increased by £30k.

Do I feel richer? Hard to say. I don't have childcare to pay anymore which of course helps, but tax and increased costs of living seems to eat up a pretty big chunk of the increase.

Newyeardietstartstomorrow · 23/03/2023 08:47

My dh's salary had dropped, probably by a half. He is a company owner, had to reduce his not significant wage to increase staff wages. He is now the lowest paid member of staff. We can't afford to close the company, as we can't afford the redundancy payments. My business in the meantime is thriving, but I don't employ anyone, which makes life easier. It isn't all rosy in the private sector, but at least we can work more hours to bring in more money. I can't understand how a main household earner can say they work their fingers to the bone yet don't earn enough to live at only 38 hours per week. That's part time in my world.

7Worfs · 23/03/2023 08:51

I can't understand how a main household earner can say they work their fingers to the bone yet don't earn enough to live at only 38 hours per week. That's part time in my world.

This mentality is why today’s form of capitalism has gotten so ugly.
What more should a corporation get out of man in addition to 38 hours a week? A pint of blood and their firstborn?

Maedan · 23/03/2023 08:51

How have people been getting these huge pay rises, mines gone up 5k????

7Worfs · 23/03/2023 08:53

@Maedan it’s promotions and moving companies in pretty much all posts about big increases.

TheGoogleMum · 23/03/2023 08:57

Just under £4000 but I did reduce my hours a little, if I was still full time it would be around £9000

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