Who are the UK’s Highest Earners?
Aside from footballers, multi-millionaire businesspeople, dukes and duchesses, there are a lot of high-paying professions in the UK for regular folk. While the more you earn, the more tax you will have to pay applies in most situations, this is outweighed by the many benefits such high-paid jobs offer.
Of course, the first of these is the amount of money you will earn, but there are also many tax breaks available and we shouldn’t forget the possibility of getting a specialist mortgage with a lender like Saffron Building Society for professionals. If you’re hoping to make big money and are thinking about a career change, here are the jobs that earn the most money in the UK currently.
There is some debate about the exact ordering of the UK’s highest earners, with differing pay scales, average weekly earnings and privacy issues. However, brokers are definitely among those in the top money, whether stock, insurance, forex, shipping or any other kind of broker.
It’s little surprise that brokers earn so much, as they are essentially working with and looking after huge investment amounts for their clients. There is a lot of responsibility involved and generally the better performance is matched by a better pay packet.
Managing directors, CEOs and vice-presidents who head up businesses hold arguably even more responsibility than brokers. They are hugely accountable for the performance of the business, which can be great if it is a success, yet a nightmare should things turn sour.
Due to such a high level of power, the job of a CEO rarely stops, so they are essentially paid for every minute of the day. It’s not a position that comes easily, and unless you start up a new company, it will likely take years of working for the same business before a CEO opportunity presents itself. When the annual change in pay range has dropped for most professions, CEOs experienced a +7.2% rise between 2014 and 2015.
Who knew marketers were so important? Well, seeing as the marketing director will oversee the entire marketing operations, which involves communicating and selling the product or services the business is producing, it is a vital role.
They can be responsible for getting the word out there and achieving income targets, which everyone relies on so they will be paid. There are a range of public as well as private sectors positions for marketing directors to earn big money in.
Depending on the employer, experience and type of aircraft being flown, the salary of a pilot can vastly differ. Still, it is a large amount which continues to grow as you progress along your career (flight) path. This is incredibly helpful as training and acquiring an Airline Transport Pilot’s Licence (ATPL) is rather costly in the first place. Plus, there are the benefits of free flights to many destinations around the world.
Financial Managers and Directors
Similar to financial brokers, financial managers and directors spend all day dealing with money issues while presumably having few of their own. Rather than taking care of a client’s investment portfolio, they are in charge of steering the business they work for in the right financial direction, making the most of opportunities and overcoming challenges.
There is also a broad pay range for all the different types of medical practitioners, from the starting salary of junior doctors to surgeons with 30 years’ experience. GPs themselves can earn up to £85,000 through the NHS, with private firms offering more, which helps to pay off the costs of training for many years.
Consider these career options and do some further research into any that appeal if you want to be amongst the UK’s highest earners.