What is the Take Home Pay Index? The VocaLink Take Home Pay Index tracks monthly take home pay levels in the UK. They are compiled using data captured by VocaLink from the salary payments of over 200 of FTSE 350 companies and over 600 public sector organisations. VocaLink is the processor for automated payments in the UK including all Direct Debit and Bacs Direct Credits, which account for over 90 per cent of salary payments delivered into employees' bank accounts.

VocaLink works with the centre for economics and business research (cebr) to deliver these powerful and timely indicators of take home pay inflation to economists, analysts and the media. They are an important aspect of the UK's economic performance and one of the components that drives the Bank of England Monetary Policy Committee's (MPC) interest rate policy. The VocaLink Take Home Pay Index is split by broad sector groups - the VocaLink manufacturing index, the VocaLink services index, the VocaLink public sector index and the VocaLink FTSE 350 index.

There are two unique aspects to the VocaLink Take Home Pay Index. First, it is based upon hard data, not survey responses - measuring the salaries deposited in hundreds of thousands of bank accounts each month. Second, the data is collected in real time - with the results processed and reported within days of the end of each month.