The Finance Foundation
Reinventing capitalism for all
President of the Finance Foundation

The 1% and the other londoners

A huge divide exists between a very few, upper middle classes and the rank and file professionals who struggle in London to maintain their lifestyle.

This main, large, highly qualified group of people has slipped down the revenue table. Only doctors and London finance workers are the big winners. In 1975 somebody employed in finance was paid 3800£ a year, academics were paid 5000£, engineers around 4000£.

Today the average salary in finance is around 100.000£, while academics are paid 48000£ and mechanical engineers 46000£.

Finance professionals and bankers are in the top 5 % of earners. 1% of the top earners receive 9% of total wages.

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