Breakdown of Britain’s best paid cities reveals richest and poorest UK workers

London may be dubbed the business capital of Europe and held in high esteem when it comes to overseas investments, but it isn’t among the best paid cities in the country not if you want to have some money left in your pocket at the end of the month.

According to CV-Library, London professionals receive an average salary of £37,408 13.2 per cent more than the national average of £32,596, but seemingly the figure in the capital is meaningless.

Sure, the average monthly salary in London is the highest in the country at £2,383.72. However, it barely covers basic monthly costs rent (small one-bed flat near city centre), council tax, travel costs, utility bills and groceries which amount to £2,318.60. This leaves just ?65 left over.

When it comes to the best paid cities, Scotland is the place to be, as Glasgow and Aberdeen secured the top two spots with monthly costs under ?930 in both locations.

Rounding off the top five of best paid cities was the Northern Powerhouse region, as Hull, Sheffield and Leeds secured the third, fourth and fifth spots respectively.

In fact, Hull’s monthly costs are just ?781.80 the lowest of all and workers can expect to be left with £1,146 once bills are taken care of.

Lee Biggins, founder and MD of CV-Library, said: “Many workers are attracted to the capital as it is home to some major organisations, offering exciting job prospects.

?However, the high cost of living in London means that the vast majority of workers are left high and dry after pay day, placing many in a compromising position.

Continue on the next page for the full ranking of Britain’s 16 best paid cities.

With property in mind, a one-bed flat in London would costs £550,764 according to CV-Library. This falls to a fraction of the price in Glasgow, as a similar property would cost just ?76,286. For clarity, the £37,408 average salary in London is little more than the £33,417 in Glasgow.

Biggins said: “There is a growing concern across the nation surrounding property costs, with current house prices in the capital reinforcing how unobtainable it is for working Londoners to get on the property ladder. Eventually, this could result in people retreating from London, in search of areas which offer a better state of living.

The full list of best paid cities is below:

“Wages and living expenses in London are not relative to the rest of the UK, making Londoners the poorest workers in Britain,” continued Biggins.

?While the government is taking steps to ensure that Londoners can afford to live, many job hunters and businesses are continuing to scrape the barrel in order to get by.

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