What's your idea of a good salary?

[jonah35]

I honestly think whether you earn £40k or £100k you broadly have the same life. On £100k a bit more goes in savings, pension, bit better car, bit better mortgage, bit better clothes but ultimately broadly similar. This is arguably down to the tax and benefits system.

[fiatpower]

I voted 60k plus mainly because I'm on 39k after guaranteed overtime and bonuses at the age of 24 so I think 60+ would be a good target for me.

[northandy]

I'm up in the north east so my aim was always to earn more in thousands than my age, so at 40 earning 40k etc.

Am well ahead of that now but I work hours which are reasonable 40ish per week and finish at 12 on a Friday. I can honestly say that if I was offered a job earning 20k more for a 50+ hour week and no half day I'd turn it down. I'm happy with my lot currently, and I do actually like my job.

[okgo]

I voted £70k assuming you have two earners pulling in similar. 120-150k combined is OK I think (being in southeast). Allows you to live in most areas (outside of prime London).

I think roughly about the age thing but it's so hard to know in any role that has a bonus element. I actually went backwards for one year when we didn't have as much success on the bonus side of things. And the flip side is managing your own expectations when you move roles, I moved recently and gained a considerable amount on my basic despite being at a similar level, that won't be possible again as our company pay top whack in the market.

Edited by okgo on Saturday 18th October 21:21

[Shaoxter]

London is very different to the rest of the country. A good salary (not one to just get you by) is above £100k for singles and ~£150k for couples. Bear in mind a 3 bed house in a decent area is £700k+ and if you want a 4-5 bed, big garage and garden you're looking at £1-2m or if it's a really good area then whatever number you want to make up.

Personally I would say £1k a day to say I really made it.

Looking back, I have no idea how I lived on a graduate salary of £25k while my wife (then gf) was studying and part timing in Starbucks.

[GroundEffect]

dtmpower said:

Earning your age in £XXk is something I tried to achieve. However I didn't achieve it all through my 20s, and now in my 30s I am still behind the curve. My wife is above the curve and hopes to stay above it before she is 40 - I think age+10 is more of a challenge for her.

That would be crap as I'm 26!

I've been quite lucky that I was on >£40k since I started working post-uni and I've been comfortable since. And that's in the South East.

[okgo]

I always went with age x2 - 3 as doing alright. Though at is impossible in some jobs where the scales are very rigid.

[dtmpower]

vanordinaire said:

I made £50000+ a year in my twenties, working every hour possible. Then £40000 in my thirties, down to 65-70 hours per week. £35000 a year in my forties working just 40 hours a week...

Within inflation that's quite a drop ! What's £50k in today's money ? £100k ?

[vanordinaire]

dtmpower said:

vanordinaire said:

I made £50000+ a year in my twenties, working every hour possible. Then £40000 in my thirties, down to 65-70 hours per week. £35000 a year in my forties working just 40 hours a week...

Within inflation that's quite a drop ! What's £50k in today's money ? £100k ?

Yes but I had several different businesses on the go during that time and often put in more than 100 yours a week. Working 2 or 3 times what Mr Average worked I would expect to make a lot more than average. It paid off, I used the energy while I had it and now I can relax a bit.

[colin86]

what do all yous do as a job to earn good money?a would be happy to get 40k

[djc206]

I voted £70k+ because I think around here that would get you in a starter home without the mortgage breaking you and allow you a social life. As a couple you wouldn't need that much each of course. It depends on what you want or need from life I suppose and more often what you're used to.

I'm in a very fortunate position in my late 20's living in the South East earning a tad over £80k with my girlfriend on the same pay scale as me although a little behind. I work hard and work shifts but my weekly hours are the equivalent of normal full time hours and I don't take my work home with me, I consider myself very lucky.

[jakewright]

jonah35 said:

I honestly think whether you earn £40k or £100k you broadly have the same life. On £100k a bit more goes in savings, pension, bit better car, bit better mortgage, bit better clothes but ultimately broadly similar. This is arguably down to the tax and benefits system.

Sort of agree. Earning 5.5k a month though compared to 2.5/2.6k a month can make quite a difference thought to hobbies which are affordable and house. However, usually there is much less time to enjoy it on a 100k job.

[jakewright]

djc206 said:

I voted £70k+ because I think around here that would get you in a starter home without the mortgage breaking you and allow you a social life. As a couple you wouldn't need that much each of course. It depends on what you want or need from life I suppose and more often what you're used to.

I'm in a very fortunate position in my late 20's living in the South East earning a tad over £80k with my girlfriend on the same pay scale as me although a little behind. I work hard and work shifts but my weekly hours are the equivalent of normal full time hours and I don't take my work home with me, I consider myself very lucky.

Presumably you work offshore? Which trade/role is this out of interest? (interested in current pay scales). If it is I would guess you're doing something directly for the operator (i.e production maintenance, inst tech?)

[djc206]

jakewright said:

Presumably you work offshore? Which trade/role is this out of interest? (interested in current pay scales). If it is I would guess you're doing something directly for the operator (i.e production maintenance, inst tech?)

No I'm an ATCO (Air Traffic Controller), never set foot in a helicopter :-)

[okgo]

Only problem with ATC in the uk, doesn't it top out at not a vast amount more than you're on? That would annoy me.

Other than that it certainly seems to be one of the few roles that don't really require outstanding booksmarts, silly hours etc and the pay is good.

[jakewright]

okgo said:

Only problem with ATC in the uk, doesn't it top out at not a vast amount more than you're on? That would annoy me.

Other than that it certainly seems to be one of the few roles that don't really require outstanding booksmarts, silly hours etc and the pay is good.

But it's a bit like oil and gas/offshore work, quite hard to get into.

[djc206]

okgo said:

Only problem with ATC in the uk, doesn't it top out at not a vast amount more than you're on? That would annoy me.

Other than that it certainly seems to be one of the few roles that don't really require outstanding booksmarts, silly hours etc and the pay is good.

Tops out about £105k but there's a few grand to be had in supervisory roles or a few for training and examining. £115k is about as high as you could go without donning a suit and tie and putting down your headset.

[theboss]

djc206 said:

I voted £70k+ because I think around here that would get you in a starter home without the mortgage breaking you and allow you a social life. As a couple you wouldn't need that much each of course. It depends on what you want or need from life I suppose and more often what you're used to.

I'm in a very fortunate position in my late 20's living in the South East earning a tad over £80k with my girlfriend on the same pay scale as me although a little behind. I work hard and work shifts but my weekly hours are the equivalent of normal full time hours and I don't take my work home with me, I consider myself very lucky.

The notion of £70k+ and 'starter homes' makes me glad I moved out of the South East a while ago!

[djc206]

theboss said:

The notion of £70k+ and 'starter homes' makes me glad I moved out of the South East a while ago!

I love the area but yes you're right. An average single income here is a sentence to pay someone else's mortgage for eternity, I can imagine that's a bit depressing.

[jakewright]

djc206 said:

Tops out about £105k but there's a few grand to be had in supervisory roles or a few for training and examining. £115k is about as high as you could go without donning a suit and tie and putting down your headset.

Still, 3/4 times national average and 7k in the bank each month aint too bad. Good conditions too I understand.