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In September 2023, Joseph Rowntree Foundation calculated that a single adult in the UK in 2023 needs at least £29,500 a year to have an acceptable standard of living, up from £25,000 in 2022. Two partners with two children would need £50,000, compared to £44,500 in 2022. 29% of the UK population – which works out to 19.2 million people ...
The chart below reflects the average (mean) wage as reported by various data providers, like Eurostat. [1] The salary distribution is right-skewed , therefore more than 50% of people earn less than the average gross salary.
The Independent Parliamentary Standards Authority confirms that MPs pay will increase by 2.9% from April 2023, taking their salary from £84,144 to £86,584. [27] 2023 West Lancashire by-election: Labour hold the seat with a 62.3% vote share, and an increase of 10.3%. Ashley Dalton is the new MP. [28]
Accompanying this shift has been a massive rise in remuneration. In 2019, the Office for Students reported that the average basic salary for a university vice chancellor rose ahead of inflation, from £245,000 a year to £253,000 a year, with five heads earning more than £500,000 with benefits and severance payments included. [72] [73]
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21 June – UK inflation figures for May 2023 show it remained higher than expected, at 8.7%. [447] 22 June The Bank of England raises the official bank rate from 4.5% to 5%, the 13th consecutive rise, and a greater increase than economists had expected. [448] The RMT announces three fresh days of strike action for 20, 22 and 29 July. [449] 23 June
Largest share of college or university graduates in the G7. This is a list of countries by the proportions of 25- to 64-year-olds having completed tertiary education as published by the OECD. It includes some non-OECD nations. Tertiary education is the educational level following the completion of a school providing a secondary education.
Graduates of the Tuck School of Business earn some of the highest salaries of MBA programs in the United States. MBA graduates of Tuck earned an average $170,000 first year compensation, not including performance-based bonuses or equity-based compensation, the third highest of all US-based MBA programs. [9]