The median annual salary in Watford is currently £34,905 and the mean (average) is £46,349 before tax.
The median salary means half of all employees in Watford earn more than £34,905 and half earn less.
The mean (average) salary number of £46,349 is calculated by taking all the salaries in Watford adding them up and then dividing by the total number of jobs (currently 35,000 which is 0.15% of all UK jobs).
Over the past 12 months the Watford median salary of £34,905 has increased by 2.70% which places it 10.45% Above the median salary of the UK as a whole.
The mean salary of £46,349 has increased 9.00% during the same time period and now standards at 21.26% Above the mean salary of the UK.
Income (Before Tax) By Decile In Watford
Top 10%: x (and above)
Top 20% x
Top 25% £53,572
Top 30% £49,921
Top 40% £40,816
Bottom 40% £30,005
Bottom 30% £25,741
Bottom 25% £22,257
Bottom 20% £25,741
Bottom 10% x (and below)
Average Monthly, Weekly & Hourly Pay (Before Tax) In Watford
The median salary of £34,905 works out to:
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- £2,908.75 per month
- £652.40 per week
- £18.61 per hour
The mean salary of £46,349 works out to:
- £3,862.42 per month
- £808.80 per week
- £24.32 per hour
Men vs Women Salary Differences (Before Tax) In Watford
Of the 35,000 jobs in Watford, 18,000 (51.43%) were held by men and 17,000 (48.57%) were held by women.
The median salary for men was £42,300 vs £29,944 for women.
The mean salary for men was x vs £34,085 for women.
This means men in Watford are paid 41.26% more based on median salaries or #VALUE! 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 Watford
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 £34,905:
- Salary Subject to Tax: £20,901.75
- Income Tax Owed: £4,180.35
- National Insurance: £1,786.80
- Employee Pension Deduction: £1,433.25
Take-Home Pay: £27,504.60 (78.80% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £2,293.20
Based on Mean Salary of £46,349:
- Salary Subject to Tax: £31,773.55
- Income Tax Owed: £6,354.71
- National Insurance: £2,702.32
- Employee Pension Deduction: £2,005.45
Take-Home Pay: £35,286.52 (76.13% of gross salary)
Total Gross Pension Contributions (Employee + Employer): £3,208.72
How Expensive Is It To Employ Someone In Watford?
The direct cost to employee someone includes salary, employer national insurance and employer pension contributions (3%).
Based on the median pay in Watford it works out to:
- Salary: £34,905
- Employer National Insurance: £4,485.75
- Employer Pension Contribution: £859.95
Total Cost To An Employer: £40,250.70 per year
Based on the mean pay in Watford it works out to:
- Salary: £46,349
- Employer National Insurance: £6,202.35
- Employer Pension Contribution: £1,203.27
Total Cost To An Employer: £53,754.62 per year
Income Tax And National Insurance Paid By Workers In Watford
Finally, how much income tax and national insurance do people in Watford 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 Watford paid income tax and national insurance based on the median salary of £34,905 the combined income tax and national insurance (employer and employee) paid would be £365,851,500.
If all workers in Watford paid income tax and national insurance based on the mean salary of £46,349 the combined income tax and national insurance (employer and employee) paid would be £534,078,300.
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More Salary Data By City
- Welwyn Hatfield
- Norfolk
- Breckland
- Broadland
- Great Yarmouth
- King’s Lynn and West Norfolk
- North Norfolk
- Norwich
- South Norfolk
- Suffolk
All the data presented here comes from the Office of National Statistics.