In recognition of the current intense pressure on incomes from escalating energy prices and the highest inflation rate for 40 years, the Living Wage Foundation launched its annual increase to the Real Living Wage on 22 September 2022 – two months earlier than planned. The charity also issued its biggest ever rise.
The Real Living Wage increases by £1 to £10.90 an hour across the UK, and by 90p to £11.95 an hour in London. The 10.1% rise for workers outside London is the greatest in its 11-year history.
For a full time role of 35 hours a week, this provides a salary of £19,838 across the UK or £21,749 in London.
The new hourly rates are to be introduced with immediate effect.
Based on what people need to live on, the Real Living Wage rate is higher than the £9.50 National Living Wage, which is set by the government for workers aged 23 and over.
Paying the Real Living Wage has become the hallmark of a good employer. Over half of the FTSE 100 companies and many small businesses pay the Real Living Wage, recognising that paying workers a Real Living Wage contributes to individuals’ financial wellbeing, while benefiting society and their own businesses.
RIBA Chartered Practices are required to pay all staff, including freelance staff, apprentices and students at least the Real Living Wage as defined by the Living Wage Foundation (as per the RIBA Chartered Practice Employment Policy and the RIBA Code of Practice).
RIBA Jobs requires that all recruiters advertise positions at or above the Real Living Wage.