- The amount of income a person generates varies widely as you can see on Best Paid Jobs
- In 2014 the UK Treasury figures (see below) showed the top 10% of earners in Britain having salaries which are equal to more than the bottom 40% of earner salaries combined.
- The same Treasury data shows the top decile (a decile is any of the nine values that divide the sorted data into ten equal parts, so that each part represents 1/10) of single adults earning a median income of £60,500, compared to just £8,600 among the bottom decile
- It is evident from the data income distribution between social groups and the amount of disposable income a person or family has in the UK varies enormously. This is because many people have an income of less than 60% of the median income as illustrated in figure 4 below.
- disposable income – is the money a person has left over after all taxes have been paid
- medium income – is the middle household income if all households in the UK were sorted in a list from poorest to richest (see figure 4)
- average income – in 2014 the UK’s average income was £26,500
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