Isle of Man Living Wage
The Living Wage is distinct from the Minimum Wage, as it is voluntary rate of pay that is calculated with reference to the broader cost of living for different household types. It is intended to represent the minimum level of pay necessary to allow people the basic opportunities and choices necessary for them to participate in society.
The Isle of Man Living Wage follows the same methodology as the Living Wage Foundation in the UK, and uses the Minimum Income Standards (MIS) for different types of households, produced by the Centre for Research in Social Policy (CRSP), to calculate the hourly Living Wage rate. There are some Manx adjustments made to the baskets to ensure the calculation reflects living on the Isle of Man, such as additional travel costs for holidays and postage rates.
Whilst the methodology follows the UK Living Wage Foundation, the prices collected are, as from as possible, from goods and services provided on the Isle of Man. In some cases, prices for goods and services are collected from online retailers where necessary.
The first Isle of Man Living Wage was produced in 2017, followed by 2019, 2020 and 2021. The Isle of Man Government is committed to continuing to publish the Isle of Man Living Wage annually.
Each report includes not only the headline Manx Living Wage but also the Minimum Income Standards for each type of household, broken down by category, that makes up the headline figure. Since 2019 the reports also include Minimum Income Standards for retired people as well.