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Financial advisers earnings close in on accountants

Despite the average wage increasing by 62% more than inflation since 1986, financial advisers are earning just £18.44 an hour.

The Office for National Statistics shows that the average wage for full-time earners was £3.87 per hour in 1985. The average wage had risen to £12.62 per hour in 2011, an increase of 262%. When CPI inflation is taken into account, average earnings have comfortably outpaced inflation.

Average earnings have increased faster for top earners than they have for lower earners.

The bottom 1 per cent of earners were paid £3.42 per hour in 1986. By 2011 this had increased to £5.93, an increase of 70 per cent.

The top 1 per cent of earners were taking home £28.18 per hour in 1986 and this had increased by 117 per cent by 2011 to stand at £61.10.

According to data from PeoplePerHour, financial advisers earner comfortably above the average wage and are earning close to the hourly rate of chartered or certified accountants of £20.02. However, they are still a little short of the £25.09 an hour average of solicitors.

Current average wage per hour by profession:

Prime Minister – £80.24

Directors and CEOs of major organisations – £63.15 

GP – £39.39

MP – £37.01

Solicitors and Lawyers – £25.09

Marketing and sales manager – £24.87

Train driver – £23.95

University lecturer – £23.80

Policeman – £21.91

Architects – £20.48

Chartered/certified accountants – £20.02

Secondary School teachers – £19.80

Financial adviser – £18.44

Fireman – £16.74

Electrician – £16.55

Nurse – £14.98

Bus/Coach Driver -£12.14

Builder – £11.95

Receptionists – £6.50

Waiter – £3.17

Source: PeoplePerHour

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