In recent years, many economic changes have challenged individuals and businesses alike. Rising energy costs, tax increases, and higher rents have contributed to a cost-of-living crisis across the country. Consequently, it is more important than ever to compare business energy and business electricity prices before choosing a supplier.

With costs increasing, it is more important than ever for people to be properly remunerated for their hard work in their jobs. Across the country, average wages differ massively, with some areas earning far more than others on average, often due to the type of opportunities and status of the area. We will reveal the areas with the highest wages, as well as the areas where the wages go the furthest compared to the cost of living.

We’ve looked at 2024 median annual wages in the UK to name the locations that have the highest average wages.

1. Cambridge, gross median annual wage of £38,510:

The highest average wage in the country is found in the eastern city of Cambridge. Famous for having one of the most prestigious universities in the world, it seems that the people of Cambridge are well paid in addition to being well educated. The median salary in 2024 was £38,510, which is almost £7,000 more than the UK average of £31,602.

2. London, gross median annual wage of £38,281:

Shockingly, London does not have the highest wages in the country on average — a fact which goes against the common belief about the nation’s capital city. One reason for this is that the average wage only rose by 5.10% in London, compared to 10.5% in Cambridge. With more people choosing to live out of the city due to flexible working and costs, it seems London isn’t the crème de la crème of places to get rich quickly.

3. Oxford, gross median annual wage of £36,392:

Oxford came in third place, although its median annual wage is around £2,000 less than the two cities that rank above it. Famously, these three cities are linked through sport, as Oxford and Cambridge’s fiercely competitive University rivalry is encapsulated by the Boat Race that takes place on the River Thames in London annually.

We’ve compared median annual wages in the UK from 2024 to those recorded in 2023 to find out which towns and cities have seen the highest average wage increase.

1. Oxford, 17.50% increase in average annual wages:

While those living in Oxford currently earn less on average than those in Cambridge, Oxonians might have the last laugh in years to come as their wages are increasing at the highest rate of any major town or city in the country. The 17.50% increase seen here is over 10% higher than the average of the 49 major locations studied, and even more than the UK average of 7.1%.

2. Brighton and Hove, 16.20% increase in average annual wages:

The south-coast city of Brighton and Hove (Brighton) is famous for its sunny weather, seafront activities, and thriving LGBTQ+ community. Another thing the 277,000 inhabitants of Brighton can now celebrate is the rise in their wages, which increased by over 16% in the past year. As a result, the median annual wage is now £33,219.

3. Blackpool, 15% increase in average annual wages:

From one seaside resort down south to one up north, the town of Blackpool has seen a 15% increase in its median annual wage. Sadly, Blackpool’s £26,707 still ranks in the bottom three major towns and cities for the median annual wage, but this increase will be encouraging to residents of the town.

To calculate the best UK locations to work in, we compared the average wage and wage increase in the city to the average number of working hours and the cost of living there.

Interestingly, the top three cities with the highest wages (London, Cambridge and Oxford) were found to be the most expensive to live in, whilst the Scottish city of Dundee was the best value. Meanwhile, citizens of Glasgow and Edinburgh have the joint lowest average weekly working hours (35), whereas those living in Slough have the highest (37.5).

1. Swansea, overall wage score of 7.71/10:

The South-Walian city of Swansea is the best city to work in 2024. Although Swansea was not a top scorer in any category, a combination of the middling wages (£29,333), low average working hours (36 per week), and an above-average cost of living score (6.28/10) propelled it to the top of the rankings.

2. Glasgow, overall wage score of 7.58/10:

Glasgow, the largest city in Scotland, is the second-best city to work in 2024. Glaswegian workers enjoy very low average working hours (35 per week), which is lower than every other major city. On top of this, the average cost of living score (5.84) can be outweighed by an above-average wage of £30,690.

3. Edinburgh and Milton Keynes, overall wage score of 7.54/10:

Two very different places share third place in the rankings, the historic and beautiful Scottish capital city and the modern town created to give priced-out London workers somewhere to live.

This difference in the appeal of the two locations to tourists is in no way reflected in the appeal for workers. The wages are very similar, with both just under £35,000, the fifth and seventh highest in the country. However, they differ in working hours, which are considerably lower in Edinburgh, and the cost of living.

Methodology

We created a seed list of the 50 biggest towns and cities in the UK to study, Belfast was removed due to the lack of data for Northern Ireland.

Using Gov data on working hours and wages in different areas of the country we discovered the average wage in each area in 2024, as well as the annual wage increase.

Using the same source we discovered the average weekly working hours in each area in 2024, as well as the annual increase.

To create the cost of living score for each city, we used data from Numbeo to find the average monthly cost of public transport, basic utilities, internet, and rent. We then used Zoopla to find the average house price, and finally, Fleet News to find the average petrol and diesel prices in each region. We used a weighted index calculation to create a normalised score out of ten for each factor and took an average to get an overall cost of living score out of ten for each city.

For the best city to work in, we combined all the data collected above and used the weighted index calculator to create a normalised score out of ten for each factor, and then calculated an average salary score/10 for each city.