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Doctors suffer largest real-terms pay fall since 2005, analysis finds

Doctors’ median pay rose from £76,873 in 2005 to £78,796 in 2025, but fell by 42.2% after inflation.

Doctors suffer largest real-terms pay fall since 2005, analysis finds
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Doctors recorded the largest real-terms pay fall of any profession between 2005 and 2025, research from Knowledge Train found.

Doctors’ median pay rose from £76,873 in 2005 to £78,796 in 2025, but fell by 42.2% after inflation.

Legal professionals recorded the second-largest fall at 39.1%, followed by public services associate professionals at 31.3%.

Health associate professionals saw a 30.9% decline, while insurance underwriters and brokers recorded falls of 30.6% and 30.5% respectively.

Overall, 104 of the 158 jobs analysed paid less in real terms than in 2005.

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Hairdressers and barbers recorded the largest real-terms increase. 

Their median pay rose from £10,177 to £24,279, an inflation-adjusted gain of 34.6%.

Retail cashiers and checkout operators followed with a 29.4% rise, while leisure and theme park attendants recorded a 25.5% increase.

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Bar staff saw real pay rise by 23.5%, while rail travel assistants and paramedics recorded increases of 20.4% and 19.9% respectively.

Jobs requiring a degree recorded an average real-terms pay fall of 13.4%, compared with 3.5% for roles without a degree requirement.

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Nine of the 10 jobs with the largest real wage increases did not require a degree.

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Simon Buehring, founder and managing director of Knowledge Train, said: “Over the past 20 years, the biggest rewards haven’t gone to those with degrees or traditionally prestigious jobs, they’ve gone to workers with scarce skills, strong demand and bargaining power.

“Minimum wage rises have lifted pay at the bottom of the market, faster than inflation increases have benefited unionised and safety critical roles like rail staff and paramedics, and skills shortages have pushed employers to bid up pay where they can’t easily fill vacancies.

“Meanwhile, years of public sector pay restraint help explain why doctors and other qualified professionals have fallen behind.”