Top earners already earning 4.9 times the average UK salary

By the end of this week (24th January), CEOs of FTSE 100 companies will have already pocketed a net income nearly five times that of the average person’s annual wage in the UK, with enough saved to place a 10% deposit on a £1m+ property.

Research by home buying platform, Yes Homebuyers, shows that a CEO of a FTSE 100 company will take home an average net annual salary of £1.9m - and that’s based on regular UK tax rates so it could well be much more for those with savvy accountants. 

This £1.9m yearly take-home equates to a weekly pay packet of £37,039 (£5,291 a day), meaning they will have already earnt £126,991 by this coming Sunday; 4.9 times the average UK salary. 

It’s also enough to place a 10% mortgage deposit on a property valued just shy of £1.3m and by 16th February they’ll have accumulated enough to outright cover the current average UK house price of £245,443; no mortgage required.

In contrast, the average UK person makes just £58 per day meaning it would take them 11 years and 205 days to earn the current UK house price of £245,443 outright; a year and 57 days just to accumulate a 10% mortgage deposit. 

Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented:

“As if this year hasn’t had a dismal enough start as it is, these figures make it all that more depressing for those on furlough, out of work or facing the uphill struggle of climbing the UK property ladder. 

While the majority of us will be cutting back in January following the festive season, the most handsomely paid homebuyers would already be in a position to purchase a £1.3m with a little help from the mortgage sector. 

Talk about a supercharged property purchase, usually, it’s homesellers that are looking to sell quickly, not the other way around. How the other half live.”