It’s no surprise that a good salary is enough to make or break our decision when accepting or applying for job roles.
The cost of living crisis has led to a significant decline in disposable income for a lot of people, and unfortunately, many people in the UK are struggling to get by. In fact, LinkedIn’s Global Talent Trends report showed that compensation ranked as number one for what candidates are looking for in 2023. So, it’s clear to see that a highly paid job is well sought after for those who are looking.
Jobs and salaries
StandOut CV reported that the current average salary in the UK was £27,756 p/a in November 2022. However, it’s important to note that salary can vary depending on the employer, and location for example.
If you’re struggling to decide where you want your next career move to go, we’ve had a look into some of the higher paying jobs in the UK and compiled a list together of job roles that appeared on several occasions.
In no particular order, let’s take a closer look…
Chief executive officer (CEO) - Average UK salary: £200,555 p/a1
A CEO is usually the highest-ranking executive in a business. They are reliable decision-makers, and may often act as the ‘face’ of a company. Essentially, although all businesses are different, CEO’s will usually manage all operations of a company.
Chief financial officer (CFO) - Average UK salary: £98, 405 p/a2
The CFO will usually work closely with the CEO of an organisation to ensure the financial stability of the company. Generally, they will be responsible for building long-term financial strategies to help the business’ success.
Chief technology officer (CTO) - Average UK salary: £98, 095 p/a3
A CTO is another senior member of an organisation, who is responsible for the overall technology strategy and implementation of a business. They would usually oversee all of the technical aspects of an organisation, such as managing the IT infrastructure and exploring new technologies.
Financial director - Average UK salary: £73, 991 p/a4
Similar to a CFO, a financial director will be responsible for managing finances within a company. However, this is usually from an accounting perspective, while they will look after financial records and expenses, for example.
Tax manager - Average UK salary: £63,125 p/a5
A tax manager will usually be responsible for the tax planning, compliance, tax returns, and accounting for income taxes for an organisation. It’s important to be up to date of tax laws.
Investment banker - Average UK salary: £60, 641 p/a6
An investment banker will usually work as part of a financial institution. They work towards raising capital and provide financial consultancy services to an individual or a business.
Information technology director - Average UK salary: £86, 253 p/a7
An information technology director is usually the person who is responsible for the IT and computer systems within an organisation. They will be the person who dictates any policies relating to IT.
Business analyst - Average UK salary: £58, 357 p/a8
A business analyst would come into an organisation, or advise an organisation, on what they can do to help their business grow. They will usually have a good understanding of interpreting data and utilising this to grow the company.
Data analyst - Average UK salary: £44, 422 p/a9
A data analyst will collect data for an organisation and analyse this to make strategic business decisions. A data analyst can appear somewhat similar to a business analyst, but there are many differences. In simpler terms, a data analyst will usually analyst and report on the data, whereas a business analyst will use this to help the business grow.
Software developer - Average UK salary: £51, 274 p/a10
Software developers can also be known as computer engineers or software engineers, for example. They will usually be involved in the process of creating, deploying and supporting computer software.
How to get a higher paying job
The job roles above all fall under the ‘highest paying jobs in the UK’ category and will continue to remain due to the increased need for skilled professionals in the data, technology and finance industries.
Of course, we are forgetting job roles such as a lawyer, surgeon, or pilot in this list which are all often considered as high paying jobs. However, for the list above, we can help you reach that career goal.
But we all have to start from somewhere. Whether you’re looking for a career change, hoping to upskill, or step into the working world for the first time, you can find your starting point and work towards those career aspirations.
Getting a job in the accountancy and tax industry
Job roles such as CEO, CFO, financial director, and tax manager will usually fall in the accountancy and tax industry. Therefore, having knowledge in these areas is vital to succeed and land one of these careers.
Most CEOs and CFOs will have a background in finance, business, economics or management. Qualifications such as ACCA or CIMA can help you reach this goal. However, keep in mind that you’ll need to put in the hard work to gain the experience and leadership skills to work your way up to this level.
Financial directors and tax managers are both job roles within the accountancy field. As well as gaining the experience, most employers will be looking for someone who is qualified with ACCA or ACA to become a tax manager or financial director.
The recommended first step into this job industry for someone with no prior experience is to begin your studies with the AAT qualification, the ACCA Foundation levels, or the CIMA Certificate in Business Accounting. Any of these routes will act as a foundation for any further qualifications.
Getting a job in the banking and finance industry
For job roles such as investment banking, qualifications such as the Chartered Alternative Investment Analyst (CAIA) will help you gain knowledge of alternative investments such as hedge funds, private equity, real estate, commodities, and derivatives. This will ultimately guide you through to reaching your career goals as an investment banker.
Getting a job in the data and technology industry
Data and technology skills are well sought after by employers across every industry. Most of the highest paying jobs in the UK and beyond are within this industry. Therefore, at Kaplan, we offer apprenticeships to help you meet those career goals.
To work towards becoming an information technology director, a great route would be to start the Information Communications Technician Level 3 apprenticeship, which will give you the direct experience and knowledge to progress your career.
Level 4 apprenticeships such as the Business Analyst and Data Analyst programmes will help you reach those career goals. Whereas a career in software engineering or development can benefit from an apprenticeship such as the Level 4 Software Developer apprenticeship.
Work towards that higher pay
No matter what your current situation is, there are always options to progress your career and aim for those high paying jobs. You just need to know where to look and be prepared to put in the hard work.
At Kaplan, we offer the qualifications, courses, and apprenticeship programmes that will help give you the boost that you need to reach your career goals.
If you need any further advice or information, get in touch with our team by calling 0161 259 7400 or email them at studentservices@kaplan.co.uk.
For all information regarding our Data and Technology apprenticeships, you can also download our brochure where you can find all information in one place such as funding, hiring, and contacting the team.
Sources
1. Glassdoor, CEO Salaries in United Kingdom, 2023
2. Payscale, Average Chief Financial Officer (CFO) Salaries in the United Kingdom, 2023
3. Payscale, Average Chief Technology Officer (CTO) Salary in United Kingdom, 2023
4. Payscale, Average Finance Director Salary in United Kingdom, 2023
5. Reed.co.uk, Average Tax Manager salary in the UK, 2023
6. Payscale, Average Investment Banker Salary in United Kingdom, 2023
7. Payscale, Average Information Technology (IT) Director Salary in United Kingdom, 2023
8. Reed.co.uk, Average Business Analyst salary in the UK, 2023
9. Reed.co.uk, Average Data Analyst salary in the UK, 2023
10. Reed.co.uk, Average Software Developer salary in the UK, 2023