Standing view · pay · London
improving, held with established confidence, formed on 5 October 2026 from movements in 2026-07.
Pay in London has been growing. Median pay was 2,946 in April 2025, 2,967 in July 2025, 3,091 in June 2026 and 3,102 in July 2026, each recorded as favourable against the usual pattern for its month. Running the other way, 2,901 in February 2025, 2,955 in May 2025, 3,014 in February 2026 and 3,079 in May 2026 were all unfavourable. Four readings each way, with the two most recent months both favourable and both higher, is why the view is held as established rather than strong; the June and July prints are what tip it.
A view is formed only where the evidence names a figure you can check. Each movement listed as a reason had to be large enough to matter and distinctive in at least one way — unusual against this area's own history, unusual against comparable areas, or sustained over several periods. A movement shared with peers counts for less, because it says something about the country rather than about London. Where no figure supports a direction we hold no view rather than a hedged one.
| Measure | Period | Direction |
|---|---|---|
| Median pay | 2025-02 | deteriorating |
| Median pay | 2025-04 | improving |
| Median pay | 2025-05 | deteriorating |
| Median pay | 2025-07 | improving |
| Median pay | 2026-02 | deteriorating |
| Median pay | 2026-05 | deteriorating |
| Median pay | 2026-06 | improving |
| Median pay | 2026-07 | improving |