Money.co.uk can reveal that in the UK, aspiring influencers would need a minimum of 78 sponsored posts on Instagram to meet the average annual salary of £18,338.

*= symbol means joint in ranking

Source: money.co.uk

In first place is Switzerland. Residents would require a minimum of 151 sponsored posts on Instagram a year to earn their respective countries annual salary of £35,250 – the most of all countries analysed.

Following in second place is Norway, where an estimated 147 sponsored posts a year would earn aspiring influencers the country’s average annual income of £34,380.

Placing third is Iceland. Uploading a total of 146 sponsored posts per year on Instagram would earn the same as the average annual income of £34,096.

Table 2: Workers in these countries could make their average salary the quickest through sponsored posts

*= symbol means joint in ranking

Source: money.co.uk

Requiring the fewest sponsored posts in Europe are Albania and Kosovo in joint first place. The residents in these countries would only need eight sponsored Instagram posts a year to earn their respective countries’ annual salaries (£1,906 in Albania and £1,759 in Kosovo).

James Andrews, personal finance expert at money.co.uk, commented on the findings:

“Social media platforms such as Instagram have continued to grow as a potential earning source for those looking for more flexibility over their creativity. Since you don’t need millions of followers to start earning, this has definitely sparked some interest, encouraging people of all ages and hobbies to look to see if they could join in.”

Money.co.uk’s tips on managing earnings and saving for the future:

1. 1. Maintain a steady income – Earnings as an influencer may not always be consistent. Ensure that you have a main stable income to support not only your daily expenses but also emergencies
   2. Tracking expenses – Keeping track of your daily expenses can help control your spending as well as cut down the need for any unnecessary outgoings. There are a number of apps available to download to assist your money tracking needs. Make sure to have a look around to find the best one that caters to you
   3. Budget for savings – Tracking your daily expenses can motivate you to organise your monthly income into a specific budget that works for you, encouraging a way to store any extra earnings into savings straight away
   4. Contribute to a pension pot – If you are thinking about saving for retirement, you will probably be enrolled in a workplace pension if you have a traditional job – which you can frequently top up, or ask to join if you’ve opted out or don’t meet the qualification criteria. But making the move to full time influencer or becoming self-employed will mean you need to take action yourself. Private pensions are simple to open and contribute to, but make sure you do your research or speak to a professional to help you get the most of the money you put away in the safest way possible.

Methodology:

1. Money.co.uk wanted to find out how many sponsored posts European workers would need on Instagram to earn the same amount as their country’s average annual income.
2. To do so, Eurostat data was utilised to collect the average annual income for European countries, accumulating the most recent data from 2020. Data for Ireland, Italy, Montenegro, North Macedonia, Albania, Serbia and Turkey are from 2019, whereas Iceland, the United Kingdom and Kosovo are from 2018. The figures reflect the NET earnings across each European country.
3. To input the average annual income into a social salary calculator Lickd.co, the currency was converted from EUR – €  to GBP – £ using XE.com.
4. Once converted, the average salaries were then input into Lickd.co to give the estimated number of sponsored posts per year on Instagram to earn the same as each European country’s average annual salary**. The social salary calculator takes a general assumption of earning as a whole and is not specific to a particular location***.
5. A final ranking for each country was determined based on the number of sponsored posts.
6. Data and conversion rates were collected on 8th November 2021 and are correct as of then but subject to change.

*Lickd.co’s estimated required sponsored posts are based on a minimum of 5,000 followers for users to be able to start earning around $350/£250 per sponsored post, where the estimated earning value can increase as the following grows.

**Potential earnings from sponsored posts may also vary depending on the estimated values of the influencer’s brand sponsor deals.

***SevenSix’s influencer pricing report conducted in November and December 2020 illustrates a comprehensive study on influencer pricing standard as well as an insight into the industry based on survey responses from influencers, brands and agencies across the UK.