London finance workers earn £20,000 more than rest of UK, reveals study

London finance workers earn £20,000 more than rest of UK, reveals study

According to the latest analysis on salary data by Michael Page, the global specialist recruitment company, the financial services sector offers an average of £20,000 more for roles in London than in any other UK region.

However, the analysis also revealed that some industries have a higher earning potential outside of London in other areas of the country.

Salary trends

Accounting jobs in energy and resources have higher wages in the South West, whilst logistics positions in transport and distribution offer greater returns in the West Midlands, South West, East Midlands and East England compared to those in London.

The analysis studied the trends in average salaries over a three-month period and revealed that the financial services sector is still the highest earning industry in the UK.

Using the Michael Page Salary Comparison Tool, the findings showed that professionals in areas such as accounting, digital, human resources, legal and marketing were amongst the best paid.

Key findings

Detailed data found that a finance controller who might be on £55,000 in industrial or manufacturing industries could earn £62,000 for a similar role in financial services.

Similarly, a product marketing manager might receive £52,000 in the financial or accountancy sector in the UK, compared to £38,000 doing the same job in another sector.

The Michael Page Salary Comparison Tool can compare actual salaries to those that are advertised, and accounting, sales and banking & financial services are the three most searched areas.

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