Money Wellness
Warehouse workers on a production line
category iconcost of living
category iconincome & budgeting
calendar icon24 Oct 2023

Workers on real living wage to get 10% pay rise from today

If you work for a company that is signed up to the voluntary Real Living Wage scheme, you’ll get a 10% pay rise from today (Tuesday 24 October).

That means, if you live outside London, your pay will increase from £10.90 to £12 an hour.

If you live in London, your hourly rate will rise from £11.95 to £13.15.

How many workers will benefit?

Over 460,000 workers will benefit as 14,000 living wage employers are signed up to pay the new rates, according to the Living Wage Foundation.

What will it mean for workers?

The new living wage rates mean a full-time worker living outside the capital will earn £3,081 more than a worker earning the national minimum wage.

In London, this rises to £5,323.50 a year.

Can’t come soon enough

The pay rise will come as some relief to those low-paid workers set to benefit. Recent research from the Living Wage Foundation found the cost-of-living crisis is far from over for those on the lowest wages. It revealed:

  • 50% are worse off than a year ago
  • 43% regularly use foodbanks
  • 39% have fallen behind on household bills

A lifeline

Katherine Chapman, Living Wage Foundation director, said:

“Low paid workers continue to struggle with stubbornly high prices because they spend a larger share of their budget on food and energy.

“These new real living wage rates are a lifeline for the 460,000 workers who will get a pay rise.”

Avatar of Rebecca Routledge

Rebecca Routledge

A qualified journalist for over 15 years with a background in financial services. Rebecca is Money Wellness’s consumer champion, helping you improve your financial wellbeing by providing information on everything from income maximisation to budgeting and saving tips.

Related posts

cost of living

07 Dec 2023

TV licence fee to rise next year

The TV licence will increase by £10.50 from next April. find out what it means for you

cost of living

05 Dec 2023

Help for families who can’t afford Christmas presents for the kids

Millions of households will struggle to afford Christmas presents this year. Here's a list of the charities and organisations who help make sure every child wakes up to a gift from Santa

cost of living

05 Dec 2023

Households buying less veg because of cost of living pressures

Low-income families can’t afford to buy fresh vegetables due to huge price increases. Find out how to get cheap or free fruit and veg

cost of living

05 Dec 2023

Inflation-linked TV licence fee increase could be blocked

£15 increase to the TV licence fee may be reduced due to cost-of-living squeeze

Average Customer Rating:
4.9/5
Independent Service Rating based on 4013 verified reviews. Read all reviews