He lives in a grotty flat, shops in Aldi, can barely afford a holiday and earns £100k. Meet Henry: a High Earner Not Rich Yet. He may not attract sympathy, but he’s a symptom a failing economy, says Eliza Filby

Nine out of ten Brits earning over £100,000 do not consider themselves wealthy. Maybe you are one of them, maybe you definitely aren’t (and find this statistic laughable) but, before you judge, meet Henry.

Back in 2019, Henry was a 28-year-old strategy consultant earning just over £50,000. He was full of optimism about his future. He’d been in the workforce for eight years and things seemed to be on the right track. He worked long hours, some weekends, but was secure that his career was gaining momentum. Fast-forward to 2025 and Henry, at 34, is now earning £103,500. His boss says he’s thriving. In wage terms, he’s made it to the six-figure mark, and all before his 40th birthday. So why does Henry feel like he’s been treading water these past six years? Why does homeownership (even outside London) feel out of reach?

Why is it impossible to save for anything, whether a house deposit or even holidays?

He may have a ‘big’ job, but he has not done the ‘big expensive things’ in life yet. He’s in a relationship, but they don’t live together, and kids aren’t on the cards anytime soon. And yet, he’s barely keeping up; he can hardly afford to attend all his friends’ weddings.

He’s on a six-figure salary, he’s hitting midlife, but that life feels precarious. That’s because, on paper, Henry’s made it. But in reality, Henry doesn’t feel secure for a very simple reason.

He may have had a £50k pay increase since 2019, but this has resulted in only a £6k increase in real disposable income – after accounting for inflation – not monthly, but yearly.

While his gross salary more than doubled, in real terms his disposable income only increased by about 27 per cent due to inflation and the rising cost of essentials.

This is the financial story of Henry; a man who should feel rich but doesn’t and how in today’s economy, six figures doesn’t stretch as far as it should.

Back in 2019, Henry lived in London and paid £850 a month for a shared rental in Zone 2. It was relatively central and he saved money on commuting by cycling to work. He was also living in his mate’s parents’........

© City A.M.