The third Isle of Man Government Living Wage report is published today.
The report, which can be accessed here, calculates the figure as £10.19 an hour and includes the full methodology behind reaching that figure.
The rate reflects a weekly wage, before tax, of £386 and an annual salary of £20,083.
The Manx Living Wage is a voluntary rate of pay that companies can choose to adopt to demonstrate their position as responsible employers, whereas the minimum wage is legally enforceable.
At £10.19 an hour, the Manx living wage 2020 is £1.94 an hour more than the Island’s current minimum wage of £8.25 for over 18s and compares with £9.30 for the UK living wage. This would amount to an annual increase of £3,824 for a full-time employee in the Island who moved from the minimum wage to the living wage.