A recent study examining 158 UK jobs found that two-thirds now pay less in real terms than they did in 2005. This means that even though nominal wages—what people are paid in actual pounds—may have increased, the purchasing power of those wages has declined due to inflation. The research, conducted by Knowledge Train using data from the Office for National Statistics (ONS), highlights that doctors have experienced the largest drop in real-term earnings over the past 20 years. Although their wages have risen slightly from £76,873 in 2005 to £78,796 today, the increase is far outpaced by inflation, resulting in a 42% drop in their spending power. This has contributed to recent strikes by NHS workers over stagnant pay and deteriorating working conditions, leading to historic multi-year pay deals aimed at addressing these concerns. Legal professionals have also seen a decline in real-term earnings, despite their cash wages increasing from £32,881 in 2005 to £35,507 today. Adjusting for inflation, they are now 39.1% worse off than they were two decades ago. Some professions have seen significant nominal wage increases but still face real-term losses. For instance, insurance underwriters earn £7,800 more on paper than in 2005—currently averaging £41,610 compared to £33,828—but effectively make 31% less due to inflation. In contrast, hairdressers and barbers have experienced the largest real-terms wage growth, with a 34.6% increase from £10,177 to £24,279. Retail cashiers and checkout operators saw a 29% increase, while leisure and theme park attendants and bar staff saw increases of 25.5% and 23.5%, respectively. However, these professions still have average salaries far below the national average of £39,260, typically under £30,000. Rail travel assistants, who check tickets and help passengers on trains, have seen their pay rise by 113% before inflation to £46,062 (previously £21,587), equating to a 20.4% gain in real terms. This means they now average out at more than social workers, who earn £44,550 on average. Simon Buehring, founder and managing director of Knowledge Train, commented on the study, stating that over the past 20 years, the biggest rewards have gone to workers with scarce skills, strong demand, and bargaining power. He noted that minimum wage increases have lifted pay at the lower end of the market faster than inflation has benefited unionised and safety-critical roles like rail staff and paramedics. Skills shortages have pushed employers to raise 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.