The median annual salary in Colchester is currently £31,464 and the mean (average) is £38,748 before tax.
The median salary means half of all employees in Colchester earn more than £31,464 and half earn less.
The mean (average) salary number of £38,748 is calculated by taking all the salaries in Colchester adding them up and then dividing by the total number of jobs (currently 80,000 which is 0.34% of all UK jobs).
Over the past 12 months the Colchester median salary of £31,464 has increased by 5.00% which places it 0.44% Below the median salary of the UK as a whole.
The mean salary of £38,748 has increased -4.20% during the same time period and now standards at 1.37% Above the mean salary of the UK.
Income (Before Tax) By Decile In Colchester
Top 10%: x (and above)
Top 20% £50,048
Top 25% £46,368
Top 30% £42,826
Top 40% £37,138
Bottom 40% £26,876
Bottom 30% £23,016
Bottom 25% £18,534
Bottom 20% £23,016
Bottom 10% £10,095 (and below)
Average Monthly, Weekly & Hourly Pay (Before Tax) In Colchester
The median salary of £31,464 works out to:
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- £2,622.00 per month
- £615.80 per week
- £17.45 per hour
The mean salary of £38,748 works out to:
- £3,229.00 per month
- £736.20 per week
- £22.91 per hour
Men vs Women Salary Differences (Before Tax) In Colchester
Of the 80,000 jobs in Colchester, 44,000 (55.00%) were held by men and 36,000 (45.00%) were held by women.
The median salary for men was £36,723 vs £25,698 for women.
The mean salary for men was £46,226 vs £29,710 for women.
This means men in Colchester are paid 42.90% more based on median salaries or 55.59% 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 Colchester
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 £31,464:
- Salary Subject to Tax: £17,632.80
- Income Tax Owed: £3,526.56
- National Insurance: £1,511.52
- Employee Pension Deduction: £1,261.20
Take-Home Pay: £25,164.72 (79.98% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,017.92
Based on Mean Salary of £38,748:
- Salary Subject to Tax: £24,552.60
- Income Tax Owed: £4,910.52
- National Insurance: £2,094.24
- Employee Pension Deduction: £1,625.40
Take-Home Pay: £30,117.84 (77.73% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,600.64
How Expensive Is It To Employ Someone In Colchester?
The direct cost to employee someone includes salary, employer national insurance and employer pension contributions (3%).
Based on the median pay in Colchester it works out to:
- Salary: £31,464
- Employer National Insurance: £3,969.60
- Employer Pension Contribution: £756.72
Total Cost To An Employer: £36,190.32 per year
Based on the mean pay in Colchester it works out to:
- Salary: £38,748
- Employer National Insurance: £5,062.20
- Employer Pension Contribution: £975.24
Total Cost To An Employer: £44,785.44 per year
Income Tax And National Insurance Paid By Workers In Colchester
Finally, how much income tax and national insurance do people in Colchester 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 Colchester paid income tax and national insurance based on the median salary of £31,464 the combined income tax and national insurance (employer and employee) paid would be £720,614,400.
If all workers in Colchester paid income tax and national insurance based on the mean salary of £38,748 the combined income tax and national insurance (employer and employee) paid would be £965,356,800.
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More Salary Data By City
- Epping Forest
- Harlow
- Maldon
- Rochford
- Tendring
- Uttlesford
- Hertfordshire
- Broxbourne
- Dacorum
- East Hertfordshire
All the data presented here comes from the Office of National Statistics.