The median annual salary in Milton Keynes is currently £34,938 and the mean (average) is £39,964 before tax.
The median salary means half of all employees in Milton Keynes earn more than £34,938 and half earn less.
The mean (average) salary number of £39,964 is calculated by taking all the salaries in Milton Keynes adding them up and then dividing by the total number of jobs (currently 112,000 which is 0.48% of all UK jobs).
Over the past 12 months the Milton Keynes median salary of £34,938 has increased by 10.70% which places it 10.56% Above the median salary of the UK as a whole.
The mean salary of £39,964 has increased 6.20% during the same time period and now standards at 4.55% Above the mean salary of the UK.
Income (Before Tax) By Decile In Milton Keynes
Top 10%: x (and above)
Top 20% £56,313
Top 25% £51,282
Top 30% £47,572
Top 40% £40,233
Bottom 40% £29,547
Bottom 30% £25,502
Bottom 25% £22,991
Bottom 20% £25,502
Bottom 10% £12,570 (and below)
Average Monthly, Weekly & Hourly Pay (Before Tax) In Milton Keynes
The median salary of £34,938 works out to:
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- £2,911.50 per month
- £649.10 per week
- £17.50 per hour
The mean salary of £39,964 works out to:
- £3,330.33 per month
- £753.00 per week
- £22.57 per hour
Men vs Women Salary Differences (Before Tax) In Milton Keynes
Of the 112,000 jobs in Milton Keynes, 57,000 (50.89%) were held by men and 55,000 (49.11%) were held by women.
The median salary for men was £40,332 vs £29,110 for women.
The mean salary for men was £46,323 vs £33,308 for women.
This means men in Milton Keynes are paid 38.55% more based on median salaries or 39.07% 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 Milton Keynes
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 £34,938:
- Salary Subject to Tax: £20,933.10
- Income Tax Owed: £4,186.62
- National Insurance: £1,789.44
- Employee Pension Deduction: £1,434.90
Take-Home Pay: £27,527.04 (78.79% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,295.84
Based on Mean Salary of £39,964:
- Salary Subject to Tax: £25,707.80
- Income Tax Owed: £5,141.56
- National Insurance: £2,191.52
- Employee Pension Deduction: £1,686.20
Take-Home Pay: £30,944.72 (77.43% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,697.92
How Expensive Is It To Employ Someone In Milton Keynes?
The direct cost to employee someone includes salary, employer national insurance and employer pension contributions (3%).
Based on the median pay in Milton Keynes it works out to:
- Salary: £34,938
- Employer National Insurance: £4,490.70
- Employer Pension Contribution: £860.94
Total Cost To An Employer: £40,289.64 per year
Based on the mean pay in Milton Keynes it works out to:
- Salary: £39,964
- Employer National Insurance: £5,244.60
- Employer Pension Contribution: £1,011.72
Total Cost To An Employer: £46,220.32 per year
Income Tax And National Insurance Paid By Workers In Milton Keynes
Finally, how much income tax and national insurance do people in Milton Keynes 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 Milton Keynes paid income tax and national insurance based on the median salary of £34,938 the combined income tax and national insurance (employer and employee) paid would be £1,172,277,120.
If all workers in Milton Keynes paid income tax and national insurance based on the mean salary of £39,964 the combined income tax and national insurance (employer and employee) paid would be £1,408,700,160.
Milton Keynes Tax Calculator
More Salary Data By City
- Portsmouth
- Reading
- Slough
- Southampton
- West Berkshire
- Windsor and Maidenhead
- Wokingham
- East Sussex
- Eastbourne
- Hastings
All the data presented here comes from the Office of National Statistics.