The median annual salary in Hinckley and Bosworth is currently £29,904 and the mean (average) is £32,549 before tax.
The median salary means half of all employees in Hinckley and Bosworth earn more than £29,904 and half earn less.
The mean (average) salary number of £32,549 is calculated by taking all the salaries in Hinckley and Bosworth adding them up and then dividing by the total number of jobs (currently 47,000 which is 0.20% of all UK jobs).
Over the past 12 months the Hinckley and Bosworth median salary of £29,904 has increased by -1.80% which places it 5.37% Below the median salary of the UK as a whole.
The mean salary of £32,549 has increased -1.50% during the same time period and now standards at 14.85% Below the mean salary of the UK.
Income (Before Tax) By Decile In Hinckley and Bosworth
Top 10%: x (and above)
Top 20% £44,892
Top 25% £40,834
Top 30% £37,616
Top 40% £33,009
Bottom 40% £25,919
Bottom 30% £22,300
Bottom 25% £21,036
Bottom 20% £22,300
Bottom 10% £10,957 (and below)
Average Monthly, Weekly & Hourly Pay (Before Tax) In Hinckley and Bosworth
The median salary of £29,904 works out to:
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- £2,492.00 per month
- £581.50 per week
- £15.97 per hour
The mean salary of £32,549 works out to:
- £2,712.42 per month
- £641.50 per week
- £19.64 per hour
Men vs Women Salary Differences (Before Tax) In Hinckley and Bosworth
Of the 47,000 jobs in Hinckley and Bosworth, 23,000 (48.94%) were held by men and 25,000 (53.19%) were held by women.
The median salary for men was £34,715 vs £24,973 for women.
The mean salary for men was £37,887 vs £27,642 for women.
This means men in Hinckley and Bosworth are paid 39.01% more based on median salaries or 37.06% 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 Hinckley and Bosworth
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 £29,904:
- Salary Subject to Tax: £16,150.80
- Income Tax Owed: £3,230.16
- National Insurance: £1,386.72
- Employee Pension Deduction: £1,183.20
Take-Home Pay: £24,103.92 (80.60% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £1,893.12
Based on Mean Salary of £32,549:
- Salary Subject to Tax: £18,663.55
- Income Tax Owed: £3,732.71
- National Insurance: £1,598.32
- Employee Pension Deduction: £1,315.45
Take-Home Pay: £25,902.52 (79.58% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,104.72
How Expensive Is It To Employ Someone In Hinckley and Bosworth?
The direct cost to employee someone includes salary, employer national insurance and employer pension contributions (3%).
Based on the median pay in Hinckley and Bosworth it works out to:
- Salary: £29,904
- Employer National Insurance: £3,735.60
- Employer Pension Contribution: £709.92
Total Cost To An Employer: £34,349.52 per year
Based on the mean pay in Hinckley and Bosworth it works out to:
- Salary: £32,549
- Employer National Insurance: £4,132.35
- Employer Pension Contribution: £789.27
Total Cost To An Employer: £37,470.62 per year
Income Tax And National Insurance Paid By Workers In Hinckley and Bosworth
Finally, how much income tax and national insurance do people in Hinckley and Bosworth 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 Hinckley and Bosworth paid income tax and national insurance based on the median salary of £29,904 the combined income tax and national insurance (employer and employee) paid would be £392,566,560.
If all workers in Hinckley and Bosworth paid income tax and national insurance based on the mean salary of £32,549 the combined income tax and national insurance (employer and employee) paid would be £444,778,860.
Hinckley and Bosworth Tax Calculator
More Salary Data By City
- Melton
- North West Leicestershire
- Oadby and Wigston
- Lincolnshire
- Boston
- East Lindsey
- Lincoln
- North Kesteven
- South Holland
- South Kesteven
All the data presented here comes from the Office of National Statistics.