HM Treasury Pay 2026/27: Salary by Grade and Take-Home
What HM Treasury pays at each Civil Service grade in 2026/27, from the published Cabinet Office medians as at 31 March 2026, with take-home after Income Tax, National Insurance and the alpha pension.
What HM Treasury pays by grade
HM Treasury is the economics and finance ministry: spending control, tax strategy, and the fiscal framework. It is much the smallest of the nine departments here by headcount, and by grade mix the most senior.
Cabinet Office publishes a median salary for each responsibility level in each organisation, as at 31 March 2026. That is what people were actually paid on the day, not a band anyone is placed on: pay below the Senior Civil Service is delegated, so HM Treasury sets its own ranges and no national scale exists to print.
| Grade | HM Treasury median | vs whole service | Rank of 9 |
|---|---|---|---|
| AA / AO | £28,090 | +£70 | 3 |
| EO | £32,560 | +£420 | 3 |
| SEO / HEO | £45,200 | +£1,270 | 3 |
| Grade 6 / 7 | £66,130 | +£300 | 2 |
| Senior Civil Service | £92,150 | -£3,390 | 7 |
Senior Executive Officer and Higher Executive Officer are published as one combined level, so there is no HEO-only median for HM Treasury or for anywhere else. Grade 6 and Grade 7 are combined the same way.
Take-home on those medians
Each median netted through Income Tax, employee National Insurance and the alpha pension contribution due at that salary. alpha is a net pay arrangement: the contribution reduces taxable pay, so it gets full relief at your marginal rate, but National Insurance is charged on the whole gross regardless.
| Grade | Median | alpha | Income Tax | NI | Take-home | Monthly |
|---|---|---|---|---|---|---|
| AA / AO | £28,090 | £1,292 (4.6%) | £2,846 | £1,242 | £22,711 | £1,893 |
| EO | £32,560 | £1,498 (4.6%) | £3,698 | £1,599 | £25,765 | £2,147 |
| SEO / HEO | £45,200 | £2,463 (5.45%) | £6,033 | £2,610 | £34,093 | £2,841 |
| Grade 6 / 7 | £66,130 | £4,861 (7.35%) | £11,940 | £3,333 | £45,996 | £3,833 |
| Senior Civil Service | £92,150 | £6,773 (7.35%) | £21,583 | £3,854 | £59,941 | £4,995 |
What the numbers actually say
HM Treasury has the highest all-grades median of the nine by a wide margin, and an AA/AO median within a few hundred pounds of DWP’s. Those two facts together are the single best illustration of why the all-grades column should never be read as "what this department pays".
The Treasury does not pay its administrative staff materially more than the largest operational department in government. It simply has very few of them, and a great many economists, policy advisers and analysts at HEO and above. Its Grade 6/7 median is high but not the highest of the nine - the Home Office is above it - which is worth knowing if you are choosing between departments at that grade for pay rather than for the work.
The departments nearest to it
The three departments closest to HM Treasury on the all-grades median. The full nine-department comparison, and the whole-service medians, are on the Civil Service pay page.
| Department | All grades | SEO / HEO | Grade 6 / 7 |
|---|---|---|---|
| HM Treasury | £60,670 | £45,200 | £66,130 |
| Dept for Education | £49,000 | £42,810 | £62,340 |
| Cabinet Office | £47,670 | £38,600 | £65,050 |
| Ministry of Defence | £39,120 | £45,550 | £65,560 |
The 2026/27 award at HM Treasury
HM Treasury sets its own pay award for grades below the Senior Civil Service, inside a Cabinet Office control of 3.5% for 2026/27. That control is a cap on the growth of the department's total remuneration cost, and the guidance is explicit that it "does not confirm the amount that an individual in a department will receive": a department can spread it evenly or target the grades it struggles to fill, and going above it needs HM Treasury ministers to agree.
The medians above are a snapshot taken on 31 March 2026. They already contain whatever this department had paid by that date and nothing after it, and they have deliberately not been uprated by the cap - that would produce our number rather than the published one.
Related
- Civil Service pay 2026/27: every grade, the SCS ranges and all nine departments
- By grade: AO, EO, HEO, SEO, Grade 7, Grade 6
- Civil servant pay and take-home
- Salary calculator for any figure not on this page
Frequently asked questions
Does the Treasury pay the best in the Civil Service?
On the all-grades median, yes among the nine departments here, but that measures grade mix. At Grade 6/7 the Home Office median is higher, and several small regulators pay more than either.
What does a Treasury economist earn?
Economists are graded like other professionals, so the relevant rows are SEO/HEO for the main analytical grades and Grade 6/7 for team leads. The Government Economic Service also operates its own recruitment and progression arrangements.
Is Treasury pay London-weighted?
The Treasury is a London department, but the published statistics have no location breakdown, so no London differential can be quoted from them. Vacancy adverts state the actual range.