The Real Living Wage is higher than the minimum wage – and those who earn it will be a lot better off this year
The Real Living Wage has increased, meaning many of us could be in line for a pay rise.
It isn’t the same as the National Minimum Wage – it’s a higher rate and our employers can choose not to pay it.
At the end of September it rose by 10 per cent – its highest ever amount. It’s now £10.90 (an increase of £1) and £11.95 in London (up 90p).
Bigger pay packet
Unlike the govenment’s minimum wage (confusingly this is sometimes called the National Living Wage), the Real Living Wage (RLW) is worked out using actual living costs.
The minimum wage is £9.50 an hour for over-23s – so the Real Living Wage is galloping ahead.
Over a year, a full-time worker on the RLW would bring in £2,730 more. It’ll also mean their pay rise over the year will be worth £1,950. In London, a full-time worker on the RLW will earn a whopping £4,777.50 a year more than someone on the National Living Wage.
If we want to find a RLW employer near us, there’s a handy map on their site.
Work and benefits
Lots of people think if we move into work, or up our hours, we’ll no longer get benefits.
That doesn’t have to be the case. Universal Credit is designed to make sure we’re better off in work but we can still get it even if we’ve got a job.
If we’ve been out of work for a while though, it’s natural to feel anxious about applying for jobs. But it’s also important to remember that non-paying work like raising children or caring will have given us a range of skills that employers are looking for.
We can also take the Quids in! Are You Job Ready quiz – it can get us thinking about what’s important when we’re looking to start working.
And recruitment firm Reed has simple advice on writing a CV to show off the skills and experience we have to offer, including a free template we can download. And have a look at the Readers Club for jobseekers.