What would the equivalent of a salary of £20,000 in 1998 be worth today?
Taking into account inflation, interest, house prices etc?
2006-08-14 00:01:45 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Thanx Dexter...So do u?? Lol!
2006-08-14 04:49:39 · update #1
Short and Sweet,
its worth 24865.42
but its not quite accurate, that is for 2005. Since 2006 is not over yet. The guy who recommended all the links are great for american rates but not GB (UK) rates, since the economy is different.
Go here its simple
http://eh.net/hmit/ppowerbp/
http://eh.net/hmit/ppowerbp/
2006-08-14 02:57:49 · answer #1 · answered by Anonymous · 2⤊ 0⤋
20,000 at an average of 5% per annum would add 8,000 in 8 years. Very basic, inflation has run a lot lower than that, about 2 %, if you want to know what 20,000 or equivalent would buy in the UK 8 years on, look at the RPI, retail price index for comparisons
2006-08-14 20:26:29 · answer #2 · answered by lady_in_blue_109 3 · 0⤊ 0⤋
One site tells me £23,175.42. However, it is a US site.
http://www.westegg.com/inflation/infl.cgi
A Canadian site gives £23,970.59
http://www.bankofcanada.ca/en/rates/inflation_calc.html
Probably the best one for the UK is this: http://www.statistics.gov.uk/cci/nugget.asp?id=19 but there isn't an online calculator! There are several indices and it depends which one you work with but all seem to come out with a figure of between £23k and £25k.
If one is discussing salaries, then it's also important to know the job and job description and the area, since realistic average salaries for a particular job will depend on more things than the RPI or 'Cost of Living Index'.
Look here for a discussion of CPI and RPI: http://www.statistics.gov.uk/cci/article.asp?id=1545
Paywizard is one of many Salary Comparison sites and is quite good (the more people who supply details, the better they are):
http://www.paywizard.co.uk/index.php?pid=3
A few others for the UK are:
http://www.ukrecruiter.co.uk/salary.htm
http://www.socitm.gov.uk/Public/surveys/Salary+Survey.htm
http://www.acu.ac.uk/policyandresearch/chemsurveys/1106913384.pdf
2006-08-14 07:12:03 · answer #3 · answered by Owlwings 7 · 0⤊ 0⤋
1998 salary of £20,000 would be £30/40,000 in todays money
inflation=a sustained rise in prices
2006-08-14 16:15:31 · answer #4 · answered by Conservative 5 · 0⤊ 0⤋
23,191
I had to do some currency conversions but
http://www.westegg.com/inflation/
http://inflationdata.com/inflation/Inflation_Rate/InflationCalculator.asp
Brithish pound
http://eh.net/hmit/ppowerbp/
2006-08-14 07:07:57 · answer #5 · answered by ? 6 · 0⤊ 1⤋
about the price of a pint of beer
2006-08-14 07:05:30 · answer #6 · answered by scottietiger 3 · 0⤊ 2⤋
not much inflation has been pretty steady
2006-08-14 07:11:17 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I have no idea what (L symbol)20,000 equals.
2006-08-14 07:05:18 · answer #8 · answered by Anonymous · 0⤊ 4⤋
you look fit
2006-08-14 08:04:45 · answer #9 · answered by Anonymous · 0⤊ 1⤋
hi ...
2006-08-14 07:19:51 · answer #10 · answered by asadi r 1 · 0⤊ 2⤋