National Minimum Wage Rises and The Living Wage

13 Apr 2018

The London School of Business and Management (LSBM) have been a member of the Living Wage Foundation since April 2016, and we were pleased to have immediately implemented the current London Living Wage of £10.20 per hour for everyone over the age of 18, when it was last set in November 2017.

Our Living Wage commitment sees everyone working at LSBM, regardless of whether they are permanent employees or third-party contractors; receive a minimum hourly wage of £10.20. 

This is significantly higher than the national minimum wage, which was raised in April 2018, and which currently stands at: (Further information here

  • 25 and Over - £7.83
  • 21 to 24 - £7.38
  • 18 - 20 - £5.90
  • Under 18 - £4.20
  • Apprentice - £3.70

The Living Wage is an hourly rate set independently and updated annually, and is calculated according to the basic cost of living using the ‘Minimum Income Standard’ for the UK. Decisions about what to include in this standard are set by the public; it is a social consensus about what people need to make ends meet.

LSBM is proud that 18-20-year-old employees at LSBM earn £4.30 above the current national minimum wage, and £2.37 above the current 'premium' minimum wage for the over 25s that was introduced by the government in April 2018.

You can read more about our Living Wage commitment here.

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  • 1 Malet Street, London, WC1E 7JN.