Men could have earned £1m by 50s

Want to earn £1 million by the time you reach your forties? Get a job in finance.

Research from Prudential has revealed that, on average, men could have earned £1,000,000 by the time they reach 50 years old.

Unsurprisingly, the figures differ drastically for females, who have to wait until they are 69 before they can say they’ve made a million.

The figures taken from the Office for National Statistics (ONS) calculate the average age of a person’s earnings before tax. The average worker would have paid £212,300 by the time they made £1m.

The research took in to account several kinds of jobs and earnings, from someone working in hospitality being 94 by the time they made a million to the other end of the scale where you would be less than half that age at 41 if you worked in finance.

Construction workers reach the million mark quicker at 52 years of age than those in education and health and social work who are 62 and 63 respectively.

And unless you’re Beyonce, you’ll be waiting until you’re 67 in the entertainment and recreation industries.

On a brighter note, the gap between men and women’s average age has closed by nine months in the last year, meaning that the pay gap has fallen.

TNT Business

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