The median annual salary in Isle of Wight is currently £27,680 and the mean (average) is £29,712 before tax.
The median salary means half of all employees in Isle of Wight earn more than £27,680 and half earn less.
The mean (average) salary number of £29,712 is calculated by taking all the salaries in Isle of Wight adding them up and then dividing by the total number of jobs (currently 49,000 which is 0.21% of all UK jobs).
Over the past 12 months the Isle of Wight median salary of £27,680 has increased by 11.40% which places it 12.41% Below the median salary of the UK as a whole.
The mean salary of £29,712 has increased 11.30% during the same time period and now standards at 22.27% Below the mean salary of the UK.
Income (Before Tax) By Decile In Isle of Wight
Top 10%: x (and above)
Top 20% £41,599
Top 25% £37,854
Top 30% £36,021
Top 40% £30,536
Bottom 40% £24,025
Bottom 30% £19,975
Bottom 25% £18,016
Bottom 20% £19,975
Bottom 10% £9,599 (and below)
Average Monthly, Weekly & Hourly Pay (Before Tax) In Isle of Wight
The median salary of £27,680 works out to:
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- £2,306.67 per month
- £527.80 per week
- £15.22 per hour
The mean salary of £29,712 works out to:
- £2,476.00 per month
- £571.70 per week
- £17.92 per hour
Men vs Women Salary Differences (Before Tax) In Isle of Wight
Of the 49,000 jobs in Isle of Wight, 21,000 (42.86%) were held by men and 28,000 (57.14%) were held by women.
The median salary for men was £32,029 vs £23,962 for women.
The mean salary for men was £35,331 vs £25,596 for women.
This means men in Isle of Wight are paid 33.67% more based on median salaries or 38.03% more based on mean salaries than women.
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(Note this difference does not take into account the type of jobs held by men vs women just raw salary numbers)
Average Take-Home After-Tax Income In Isle of Wight
The calculations below look at how much money the most typical worker gets to keep after income tax, employee national insurance and standard 5% employee pension contributions.
Based on Median Salary of £27,680:
- Salary Subject to Tax: £14,038.00
- Income Tax Owed: £2,807.60
- National Insurance: £1,208.80
- Employee Pension Deduction: £1,072.00
Take-Home Pay: £22,591.60 (81.62% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £1,715.20
Based on Mean Salary of £29,712:
- Salary Subject to Tax: £15,968.40
- Income Tax Owed: £3,193.68
- National Insurance: £1,371.36
- Employee Pension Deduction: £1,173.60
Take-Home Pay: £23,973.36 (80.69% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £1,877.76
How Expensive Is It To Employ Someone In Isle of Wight?
The direct cost to employee someone includes salary, employer national insurance and employer pension contributions (3%).
Based on the median pay in Isle of Wight it works out to:
- Salary: £27,680
- Employer National Insurance: £3,402.00
- Employer Pension Contribution: £643.20
Total Cost To An Employer: £31,725.20 per year
Based on the mean pay in Isle of Wight it works out to:
- Salary: £29,712
- Employer National Insurance: £3,706.80
- Employer Pension Contribution: £704.16
Total Cost To An Employer: £34,122.96 per year
Income Tax And National Insurance Paid By Workers In Isle of Wight
Finally, how much income tax and national insurance do people in Isle of Wight pay altogether?
The calculations below show the combined totals based only on median and mean salaries. However, the actual number is significantly higher as “The 10% of income taxpayers with the largest incomes contribute over 60% of income tax receipts.”
If all workers in Isle of Wight paid income tax and national insurance based on the median salary of £27,680 the combined income tax and national insurance (employer and employee) paid would be £363,501,600.
If all workers in Isle of Wight paid income tax and national insurance based on the mean salary of £29,712 the combined income tax and national insurance (employer and employee) paid would be £405,320,160.
Isle of Wight Tax Calculator
More Salary Data By City
- Medway
- Milton Keynes
- Portsmouth
- Reading
- Slough
- Southampton
- West Berkshire
- Windsor and Maidenhead
- Wokingham
- East Sussex
All the data presented here comes from the Office of National Statistics.