We’re earning more but working longer hours

Median weekly earnings increased by 3.4% to £611 a week in 2020.The figure is published today in the Isle of Man Earnings Survey 2020, an annual report produced by the Economic Affairs division of the Cabinet Office. A total of 819 employers took part in the survey, and 2,447 employees also responded. 

Results were analysed to provide average and median earnings by sector, as well as to consider the gender pay gap and the distribution of earnings. Key results from the survey include:

Median weekly earnings increased by 3.4% to £611 a week (£31,853 a year), compared to £593 a week (£30,911 a year) in 2019

Full-time employees worked an average of 38 hours per week compared to 37.9 in 2019, including 1.2 hours of overtime

Overtime, incentive pay and shift premiums comprised 5.4% of employees’ gross weekly earnings, a reduction from 6.7% in 2019 and 6.3% in 2018

Median earnings in the Isle of Man were 4.3% higher than the UK median

16.5% of employees earned less than the Isle of Man Living Wage, representing an increase from 15.7% in 20192.

5% of employees earned less than the Minimum Wage, a reduction from 3.1% in 2019 and 3.4% in 2018Of the randomly selected sample, 69% worked full time in 2020, 19% worked part time and 12% had zero-contracted hours

The gender pay gap in median earnings decreased from 9% in 2019 to 8% in 2020Full results of the survey can be found here