AROUND 2.4million workers are set to get a pay rise next month as the National Living Wage and the National Minimum Wage are rising.
The increases should be a boost to workers as they’re higher than the cost of living, which currently stands at 1.8 per cent as measured by the consumer prices index plus housing costs (CPIH) measure of inflation.
How much you get from this hourly wage depends on your age and whether you’re an apprentice or an employee.
Here’s what’s happening:
- The National Living Wage, which is for those aged 25 and over, is rising by 38p (4.8 per cent) an hour from £7.83 to £8.21.
- The National Minimum Wage for those aged 21 to 24 is rising by 32p (4.3 per cent) an hour from £7.38 to £7.70.
- The National Minimum Wage for those aged 18 to 20 is rising by 25p (4.2 per cent) an hour from £5.90 to £6.15.
- The National Minimum Wage for those aged under 18 is rising by 15p (3.5 per cent) an hour from £4.20 to £4.35.
- The National Minimum Wage for apprentices – those aged under 19 or 19 or over and in the first year of their apprenticeship – is rising by 20p (5.4 per cent) from £3.70 an hour to £3.90.
To get the National Minimum Wage workers must be at least school leaving age, which is classed as the last Friday in June of the school year they turn 16.
You have to be at least 25 or over to get the National Living Wage.
Hourly National Minimum Wage rates have been in place for a number of years but the National Living Wage for those aged 25 and over was only introduced in April 2016.
Some companies may also voluntarily choose to pay the London Living Wage or the UK Living Wage, which are calculated independently of Government by think tank the Resolution Foundation.
It currently recommends an hourly rate of £10.55 in London and £9 outside.
How to get a pay rise
HERE are recruitment experts' top tips to get a pay rise in 2019:
- Do your research on the salaries of other similar roles
- Make sure you time your request right
- Prepare your case in advance
- Be clear and specific about what you want and why you deserve it
- Remember to stay confident
- Express enthusiasm
- Aim high
- Don’t forget about additional perks, such as increases holiday, if your boss won’t agree to a pay rise
- If you can’t get a pay rise, consider getting a new job
See our guide to getting a pay rise for more top tips.
Chancellor Philip Hammond announced in his Spring Statement yesterday that the Government has appointed Professor Arindrajit Dube to review how the National Minimum Wage and the National Living Wages might work after 2020.
In particular, Professor Dube will look at the implications for future minimum wage policies given the Government’s aim to end low pay in the UK.
More on money
For more on the Spring Statement 2019, check out our round-up of what Philip Hammond said.
As part of his statement, the Chancellor revealed that benefits are set to FINALLY increase by £500 for millions next year.
While fossil fuel gas hobs and boilers will be BANNED in all new-build homes from 2025.
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