Home Business NewsBusiness More Brits in their twenties rake in £1m a year

More Brits in their twenties rake in £1m a year

22nd Nov 16 10:57 am

Why are the under 30s earning more?

The number of under thirties earning more than £1m a year is on the rise. The figures have increased by a third compared to last year.

Research compiled by financial advisory service Salisbury House Wealth found that some 400 under 30s have now reached the huge milestone, this is up from 300 in 2015.

The number of over 30s reaching the £1m pound mark has also increased by 31 per cent over the last 12 months.

Tim Holmes, managing director at Salisbury House Wealth, told Sky News: “There has been a rapid rise in the income of the under 30s.

“The trend in start-ups, as well as the monetisation of online media has had a significant influence on the earning potential of the under 30s.”

According to the company those under 30 who are paid the most may include entrepreneurs, City workers and athletes.

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