Tradespeople's Pay Rising Faster Than Inflation

Whether it's your weekly shop, filling up your van or, heaven forbid, the price of your pint, prices are sadly only going in one direction. So, it may come as some comfort to know that despite the prices skyrocketing in almost every corner of life, according to Hudson Contract, pay for self-employed tradespeople has increased on average by 5.5% compared to the same period last year.

Self-employed tradespeople's pay increased faster than inflation

According to the Retail Price Index, inflation rose by 4.5% between April 2024 and April 2025, so through that period, self-employed tradesmen and women's wages increased at a faster rate than inflation, meaning that those hard-earned pounds went that little bit further.

How is a tradesperson's pay calculated?

We're not about to give you a crash course in global economics, and if you want to read about global tariffs between nations and continents, then there are better sources of information than here. But, back to the point, the fluctuating cost of materials plays a big role on your bottom line.

What's that? Plaster prices have gone up again? You've got two choices: absorb the extra cost yourself or pass it on to the customer. Neither option's perfect – but it's a decision every tradesperson has to make.

Then there's local competition. Are there five other sparkies down the road offering the same service? That could mean lowering your prices just to stay busy. And let's not forget location – what's the going rate in your area? Are you undercharging compared to others nearby?

It should go without saying, but your trade also matters. Some are in higher demand, which often means better pay. And experience counts too. If you're starting out, you might need to charge a bit less while you build your reputation and prove you're worth every penny.

At the end of the day, customers want to trust who they hire. They want to know the job will be done right – and that trust takes time (and graft) to earn.

Which trade earns most?

In our survey in 2024, over 40% of Rhino customers concluded that electricians had it easiest. Factors included the high demand for their work, often their work is carried out indoors, and crucially (particularly in relation to this post), the pay is generally good.

The overall sense of pay being good for electricians is backed up by the data available through Hudson Contract, with Electrician's earning on average £1,180 per week, putting them ahead of Plumbers (£1,102), Joiners (£1,066), Bricklayers (£927) and Plasterers (£850).

How Can Rhino Help?

Cash is king. For most of us, it's the main reason we get up and graft each day. Some are lucky enough to do what they love. Others do it to pay the bills. And then there are a few living the dream - getting paid to do what they love.

But for the majority, it's about balance. Earning enough to get by and hopefully having a little left over to enjoy life. That's why protecting your income, and your business should be considered essential.

We're sure that you're great at your job, but accidents can happen. Imagine that you've just accidentally damaged a customer's property and you don't have insurance. Unfortunately, it's now you who'll be footing the bill, and not your insurance company. Unexpected costs like this can be devasting and, in some cases, enough to put a business under. It's why having the right cover in place is so important.

Fortunately, Rhino can help offer you the protection your business needs:

• Public Liability Insurance – Covers damage to property or injury to the public caused by your work.
• Tools in Transit Insurance – Helps cover the cost of lost, stolen, or damaged tools.
• Personal Accident & Income Protection – Provides financial support if you're injured or too ill to work.

In short, we're here to help you protect your business, your income, and your peace of mind.

Looking for a quote or want to chat with the team? Give us a call on 0116 243 7904.