The telly host, 46, will pick up the whopping pay cheque for fronting hit show Dancing on Ice.
Incredibly, it means just 30 minutes' work on the box will net him more than the £23,800 an average Brit worker earns in a year.
When added to what he gets for his day job presenting This Morning, it means Schofield will rake in a £2million salary-making him one of TV's highest paid stars.
Last night a source said: "Phillip's hit gold. He's one of the best loved and busiest guys in the business, and that's reflected in what ITV are prepared to pay him.

"The bosses know he's the housewives' favourite and would hate to see him defect."
ITV top brass met last month to thrash out Schofield's terms and sign a two-year deal.
He will get £900,000 from Dancing on Ice and £750,000 for This Morning.
The remainder will come from one-off shows such as the British Soap Awards.
But despite the massive payday, Schofield has still been hit by the credit crunch.
He was demanding £55,000 an hour rising to £57,500 in the second year, but only managed a £3,000-an-hour pay rise because of turbulence in the economy.
The source added: "He was told to take it or leave it. Times are tougher even in TV land."
This article has 39 comments
This man who wore the coat of many colours is now the man of many jobs.
He's now swirling around the studios with those other coats of many jobs.
By Duncan. Posted May 14 2009 at 11:30 AM.
good on him im 40 myself and use to love phil and his gopha, he is well worth his wedge when you consider that moron jonathan woss gettin £6,000,000 a Y E A R now thats a damn waste
By richard macallister. Posted November 1 2008 at 6:41 AM.
Get lost all of you jealous people would you turn this money down? dont think so.
By ann. Posted September 26 2008 at 9:09 PM.
stop watching the shows in your millions and our millions will not be paid to these people who clearly do not really earn the ammounts paid to them do they ?
By paul scotting. Posted September 26 2008 at 5:50 PM.
The green eyed monster has been busy!!
All have worked to get to the level of earnings they are on. Try living your own lives! It is not their fault you are not earning.
By bernie. Posted September 26 2008 at 1:19 PM.
Whatever happened to Gordon the Gopher? He made Phil the star he is today but has ever seen a penny from him? I very much doubt it!
By Phillip Banks. Posted September 26 2008 at 1:31 AM.
People amaze me by how much they can moan about something like this.
I know 100% that no one here would turn down that amount of money if it was offered to them for an hours work.
As for the defending the firefighters/Nurses etc, they can defend themselves and they all knew the salaries before they started their jobs. if they didnt like it they could quit and pursue a career in acting or presenting.
Stop worrying about his pay and lighten up abit and if you dont like the fact that he's earning alot and people are in poverty then try donating some of your own cash towards it.
By Dan. Posted September 24 2008 at 1:23 PM.
With stories like these, and wages like these, the world really has gone mad. May Mr. Schofield live with his consciousness, when reporting poverty at an unprecedented level in these troubled times?
God bless you Philip? Or should I say, god forgive you? When you accept more money in 1 hour than the average man gets in 4 years, you are a real inspiration.
By paul scotting. Posted September 24 2008 at 12:05 AM.
i dont think that he should be paid that ammount of money when the prime minister is in so much debt and is now thinking of upping our taxes even more, why should the working class pay more taxes when it is hard enough to get through with what the taxes are now, he shouldn't be paid these silly ammounts of money along with loads of other stars instead of paying them so much then complaining that the government are in debt.
By stacey. Posted September 22 2008 at 2:04 PM.
how about the news of the world step in and see if phillip scofield will pay for the little boy who lost his legs harvey get phil to pay for them till he is 18 years old with that soert of money coming in he can well afford it and it would boost his rating even more as the house wifes favourite. personally i cannot stand the man. squeeky i call him.
By jan page. Posted September 21 2008 at 11:21 PM.
Make hay while the sun shines...wouldn't we all if we could? Good for him!
By Sally H. Posted September 21 2008 at 9:27 PM.
I am a huge Phillip Schofield fan but even I have to say this kind of pay is too much - be it for a presenter or football player.
I am sure some of them give a large amount of their money to charity but I wouldn't pay Phillip this much despite loving him on my TV.
By claire woods. Posted September 21 2008 at 8:35 PM.
I am very annoyed at ITV for paying a man that amount of money regardless of his popularity and/talent. I always thought he seemed a nice kinda guy until I watched the BAFTAS 07.The controversial MISS JOAN RIVERS made a joke about having a cousin with a cleft/hare lip and it showed some of the audience laughing and some looking rather embarassed.PHILIP SCHOFIELD LAUGHED HIS SOCKS OFF..but afew weeks earlier he had presented on this morning a story about a young girl who had been bullied because of facial disfigurement. Double standards or what.I KNOW for a fact that the charity involved complained as did many parents....whiter than white schofield well maybe the hair.
By christine barker. Posted September 21 2008 at 6:52 PM.
What a joke!! How can someone earn that amount of money?? Philip is on This Morning only 4 days a week for 2 hours a day and he get 750K??? and then presents Dancing On Ice for a couple of hours a week and gets 900K????UNBELIEVABLE.
No wonder this country is in such a state. How about giving more money to the people that actually earn it, police, doctors/nurses/firemen etc... Philip should be ashamed of himself.
By Claire . Posted September 21 2008 at 5:15 PM.
As a Nurse I feel rather patronised by the comparisons made between mine and Phillip Schofield's salary. I chose Nursing and knew when I commenced my training that it was never going to be a high paid job.
It is ridiculous to make such comparisons and quite frankly I and I am sure many other Nurses, firefighters etc don't need patronising.
To balance these ridiculous comments I wish to add the obvious fact that showbusiness is extremely fickle and yes Mr Schofield may be earning this amount now, but he hasn't always and may not be so fortunate in the future. Secondly I am able to walk down my street and public places relatively unknown, without constant interference from fans or members of the public, I can have a bad day if I want one, or leave my house with messy hair and not have to face a barrage of photographers or the baying public. I don't have to be on duty 24 hours a day and for me no amount of money could make up for the loss of my anonymity.
Please stop patronising Nurses and other public sector workers, we can fight our own corner when we need to, we want to be treated as equals not angelic, poverty stricken, charitable causes.
I wish Philip Schofield all the best, and personally think he deserves this success.
By Sarah R. Posted September 21 2008 at 12:57 PM.
Bonnie : When the police, Army, fire service, nurses, doctors etc. start doing the job correctly, maybe they would earn a bit more.
Stop comparing the above, and soliders to TV personalities. Soliders choose to fight in a war, where they are likely to get seriously injured, or even worse. Why do they deserve more money for fighting and killing?
By Jodie. Posted September 21 2008 at 12:45 PM.
So what he earns all that good for him no one would complain if it where you getting that am sure alot of that goes to tax aswell !!! leave him alone!!!!
By jo. Posted September 21 2008 at 11:55 AM.
he is a worker on the top of his game pay him the going rate.
i work hard for my wage but dont feel the need to bleet when somebody earns more.
By lee hitchen. Posted September 21 2008 at 11:46 AM.
TV land has gone mad, as has football-land, film land - you name it!!
Philip is just very lucky
We either all try to get into one of these "lands" or just find some way to make the most of our talents.
But we can vote with our feet and stop watching these programmes, then TV makers may get the message.......
By Cas. Posted September 21 2008 at 12:09 PM.
When whenever you hear about someone earning this kind of money do people always drag up "nurses and firefighters" Phil is not a nurse or a firefighter. If they want to earn this kind of money then quit nursing or firefighting and work your way up through TV to the position he's got to through his hard work. No one is disputing nurses and fire fighters don't earn what they are worth but what's that got to do with Phil? That money will be taxed and NI'd so a great deal of it will go to paying towards wages for nurses and fire fighters anyway. If you want obscene like a some of the WAGS who think nothing of spending £5000 of a handbag to fill their vacuous lives.
By AlanA. Posted September 21 2008 at 11:35 AM.
His face and character sell the product which is worth many thousands more in revenue to the TV corporation.
He puts bums on seats end of story, a soldier returning from Afghanistan cannot do this, or perhaps one can and if so he will get his just reward.
ermmm think they call this business.
By Chris Shep. Posted September 21 2008 at 11:27 AM.
£49.000 an hour. what is this world coming to. no person is worth that money, especially for presenting a tv programme. Its a complete joke! what makes me laugh is when their on tv in the morning & they are moaning about taxes going up & all that, crime etc.. What worries is he going to have this christmas? he may struggle to pay his gas bill, so he will have to tighten the purse strings. these celebs just dont live in our world, what normal folk see everyday. I like phil as a presenter, but nobody is worth that sort of money. Skilled surgeons get a tiny fraction of his wages & they save people's lifes.. joke!
By richie. Posted September 21 2008 at 10:45 AM.
Anyone who complains about his wages as obscene is missing the point, put a 17k Binman on screen then and see what happens! Idiots.
It is NOT public money, ITV is funded thru commerical revenue, as opposed to the BBC.
Grow up !
By Tony P. Posted September 21 2008 at 10:00 AM.
Bring back Gordan the Goffer! He's def worth 55K an hour!
By Goffer Fan. Posted September 21 2008 at 10:23 AM.
i agree it is alot of money when soldiers are comming back from afghanistan and iraq and are given a mere pittance. i do like phil and him and fern work brilliantly together but that amount of money is ridiculous, and how he is is suffering from credit crunch i dont know. try being a pensioner.
By nedwof. Posted September 21 2008 at 10:22 AM.
The deal will have been made between the TV company and his agent. Philip would not have got personally involved with any contractual dealings though obviously kept informed but the agent will be the one steaming ahead. It is an obscene amount of money, I agree. But if I'd look at footballers earnings first before TV entertainers, there are young adults suddenly earning a senseless amount of money to help fund their WAG shopping accounts which could build another hospital!
By Karen. Posted September 21 2008 at 10:18 AM.
Its a shame,paying ANYONE this amount of money, then ask them to interview people who have nothing, no job no house, and any dignity they have is stripped off them,let Schofield and Co do without at least one months salary to help feed the homeless
By molly. Posted September 21 2008 at 10:23 AM.
What slaps you in the face is that he actually asked for more!
What planet are these "stars" on. I can't stand him or Fern, or the patronising progamme they both front.
By Karen. Posted September 21 2008 at 9:39 AM.
I too don't mind Philip but that is a disgusting amount of money!!! It's ridiculous, when police, army, fire service, nurses, doctors etc may not even earn that in a year!!!!!! MADNESS!!!!!
By Bonnie. Posted September 21 2008 at 9:48 AM.
is that all! poor blighter.
By teddy. Posted September 21 2008 at 9:47 AM.
they give people like him a rise, then they tell us how hard it is to pay bills when interviewing people about the credit crunch. they live in a different world.
by the way his only talents are is to be able to shout when speaking. & laugh/snigger when he & fern make all their mistakes
By john hibby. Posted September 21 2008 at 9:26 AM.
For what he does, Philip Schofield is not worth that kind of money. Nurses, paramedics, firefighters and police officers certainly are.
If I had my way, This morning would be axed along with that other waste of airtime, Jeremy Kyle.
By Mike Stevens. Posted September 21 2008 at 9:15 AM.
Don't blame the guy, blame ITV for paying him that much. They are at fault. I would take any job too if an employer was offering me that much cash. The same applies to the football clubs.
By Brian Winden. Posted September 21 2008 at 8:50 AM.
OFCOM wants to give ITV part of the licence fee but it seems to me that ITV already have more money than sense. That said it is their money and may spend it as they seem fit. However as for any other business if you cannot balance the books it is not for the government to bail you out.
By John. Posted September 21 2008 at 8:40 AM.
So your all telling me you would turn down this sort of cash to support your families? So none of you play the lottery and if you won you would say no because of how many are struggling with day to day living?!!! No you wouldn't and I certainly would not!! They are on a drop in the ocean compared to some look at Ronaldo! Leave him alone he still has to get up every morning and go to work! let him and his family enjoy his hard earned money.
By Lindsey. Posted September 21 2008 at 7:59 AM.
Oh God. Another couple of years with this idiot on the TV. When will ITV see sense and chuck Phillip, get rid of this morning and get rid of Fern (if she looses anymore weight then she'll be a contender for 'Miss Euthiopia'.
By Mathew. Posted September 21 2008 at 1:12 AM.
Forget about ITV hating to see him go, I think Philip would hate to go.....This deal is an insult to all the viewers who he tends to act like he is 'one of them'.
It'll be interesting to watch him talk about the low wage of nurses and police officers.
By Ayse-London. Posted September 21 2008 at 12:41 AM.
Obscene. How do these people live with themselves when other hard working people are struggling to heat their homes and pay their bills?
By Heather. Posted September 21 2008 at 12:39 AM.
Ilike philip,but how can people be earning this amount of money when so many others are struggling.
By may. Posted September 20 2008 at 11:42 PM.