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Getting Older in UK – Salary down by £400 per year in 50s

Employees reach their highest average earning potential in their 40s, with a possible salary drop of £400 per year in their 50s, according to research by Friends Life. 50 in UK

The research is based on Office for National Statistics (ONS) figures analysed by age and sector.

It reveals the average salary for senior managers and directors between 40- and 49-years-old is £67,232. For employees at a similar level aged 50- and 59-years-old, it drops down to £63,565.

Average earning power only rises after 50 in three sectors ­– teaching, healthcare and secretarial. For all three areas salaries are the highest for employees over 60-years-old.

Healthcare professionals 60 or older earn on average £50,418, compared to £44,298 in their 40s.

The average salary across all sectors peak at £33,459 between 40 and 49. This drops off to £33,059 at 50 and £31,059 at 60.

via HR Magazine – Employees face salary drop of £400 per year in 50s.

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