What salary are you happy with these days?
Discussion
klan8456 said:
Edited to say: this assumes the wife is >£120k as well, as will need full time live-in help given working hours and business travel demands
Wife is a CFA and CA and has done the numbers, and that is what it will take.
I am rather envious of those who DON’T need to chase the £££ and can live a simpler, less stressful life.
So you need half a million a year Wife is a CFA and CA and has done the numbers, and that is what it will take.
I am rather envious of those who DON’T need to chase the £££ and can live a simpler, less stressful life.
Edited by klan8456 on Sunday 18th October 16:56
........ YOU don’t need to chase the £££, you are choosing to & its making you miserable, but not half as miserable as when your missus divorces you & clears off with most of what you have been working for because you’ve become a boring sod who is scared to go out.... come on Klan you need to get a life. If ever there was a personification of the point the OP is making its you!djc206 said:
Where are you flying that it costs you £4-5k per passenger in business class? I can’t think of many places that cost that much unless you’re really not very savvy with purchasing your tickets.
Anyhoo, I’m happy with what we have. We could live on less, I wouldn’t complain if it was more but I’m lucky enough to have found something that I like doing that pays me well enough to enjoy my hobbies and gives me plenty of down time. I could do what klan says and work more but then I wouldn’t be living, I could do something with less responsibility but then I’d be both bored and have to think about money more which would offset some of the reduced pressure. It’s all about finding a sweet spot and in this country we’re quite fortunate that for many with a little effort and expectations set appropriately we can find a good work/home life balance unlike many in other countries.
All the way to the other side of the world, 25 hours flying time. Anyhoo, I’m happy with what we have. We could live on less, I wouldn’t complain if it was more but I’m lucky enough to have found something that I like doing that pays me well enough to enjoy my hobbies and gives me plenty of down time. I could do what klan says and work more but then I wouldn’t be living, I could do something with less responsibility but then I’d be both bored and have to think about money more which would offset some of the reduced pressure. It’s all about finding a sweet spot and in this country we’re quite fortunate that for many with a little effort and expectations set appropriately we can find a good work/home life balance unlike many in other countries.
I’m pretty / very savvy with award tickets, used to buy CX AsiaMiles 1mm at a time for $18k USD, but OneWorld availability in J or F isn’t great to Aust (QF blocks a lot of seats from partner redemptions), and pretty much non-existent to NZ. Used to be able to fly on SQ out of Copenhagen cheaper, but need to account for time and effort to get to Copenhagen in the first place.
I’m 6’5”, so Y is completely out of the question for such long trips unless you’re staying > 1 week, which I never have time to do.
The wife is a midget so she can and does fly Y
Edited by klan8456 on Sunday 18th October 18:16
CharlieH89 said:
Depends where you live surely and how much your wife earns.
This. However it’s fairly unwoke in 2020 to assume everyone has a wife. Men can have husbands too, and pistonheads members can also be women with wives. Nice micro aggression there.
To the point at hand, 2x 100k salaries is better than 1x 200k, as if you lose the 200k it will likely be harder to find a another position, plus it’s far better from a tax perspective.
Edited by klan8456 on Sunday 18th October 18:14
GT03ROB said:
The question being asked is why take all those responsibilities, so you have to earn the money & make yourself miserable. If you lived a simpler life without all those responsibilities wouldn’t you be happier? Do you need such a big mortgage? Do you need to send your kids to an elite school? Do you need to fly business class? You could maybe reduce those long hours you claim to work, and live a little?
Well the parental responsibilities I don’t have a choice, and that figure is only going to increase if one or both of them end up in a care home. So right from the start I don’t have a choice but to chase big £, even if I were to compromise on everything else for my own personal lifestyle. The hours worked to reach 350k and 150k in the City are broadly the same, so why not have a higher target? That mortgage in London would still be a big compromise, raising a family in 1,000 to 1,200 sq ft is a space management challenge.
Private education is absolutely mandatory. Both my wife and I were fortunate enough to be educated at elite private schools on academic & means tested scholarships. We have both seen the opportunities this eduction has afforded us, and want the same for our child. It’s completely non-negotiable from her stand point. That aside, being mobile for work means we do need to provision for private education if we get dropped into a new country and the state education system isn’t good or is in a foreign language.
Biz class travel isn’t mandatory, but getting home is ca. 25 hours flying time and at my height being further down the back of the bus is distinctly unpleasant, I’d not unhealthy.
klan8456 said:
All the way to the other side of the world, 25 hours flying time.
I’m pretty / very savvy with award tickets, used to buy CX AsiaMiles 1mm at a time for $18k USD, but OneWorld availability in J or F isn’t great to Aust (QF blocks a lot of seats from partner redemptions), and pretty much non-existent to NZ
I’m 6’5”, so Y is completely out of the question for such long trips unless you’re staying > 1 week, which I never have time to do.
The wife is a midget so she can and does fly Y
Ah you’ve full Y, J and F on me. Redemptions are terrible to that end of the world although I noticed Sydney was looking ok for next year with BA if that helps. I’ve been to Oz during the Southern Hemisphere summer both this year and last and we both travelled for the cost of that one fare although in fairness ex EU, nice afternoon in Stockholm on the way out this year. For both trips £3k was possible from London but that’s way beyond my comfort zone. Try following TurningLeftForLess, Michele might be a bit snooty but she posts up some cracking deals from time to time.I’m pretty / very savvy with award tickets, used to buy CX AsiaMiles 1mm at a time for $18k USD, but OneWorld availability in J or F isn’t great to Aust (QF blocks a lot of seats from partner redemptions), and pretty much non-existent to NZ
I’m 6’5”, so Y is completely out of the question for such long trips unless you’re staying > 1 week, which I never have time to do.
The wife is a midget so she can and does fly Y
You should make time. There’s no point in running out of it wishing you’d had more when you’ve squandered it all on making money to pay for things you could quite easily live without.
You will save a fortune this year what with Australasia being closed to us lurgy riddled Europeans.
djc206 said:
Ah you’ve full Y, J and F on me. Redemptions are terrible to that end of the world although I noticed Sydney was looking ok for next year with BA if that helps. I’ve been to Oz during the Southern Hemisphere summer both this year and last and we both travelled for the cost of that one fare although in fairness ex EU, nice afternoon in Stockholm on the way out this year. For both trips £3k was possible from London but that’s way beyond my comfort zone. Try following TurningLeftForLess, Michele might be a bit snooty but she posts up some cracking deals from time to time.
You should make time. There’s no point in running out of it wishing you’d had more when you’ve squandered it all on making money to pay for things you could quite easily live without.
You will save a fortune this year what with Australasia being closed to us lurgy riddled Europeans.
Not quite, there are entry caps to Australia even for citizens at present, which means planes can only take ca. 30 passengers each, they’re cancelling Y tickets and J is 5k+ and even those are being cancelled in favour of F (particularly on Qatar) in order to keep the route profitable. CX doesn’t run a F product HKG - SYD.You should make time. There’s no point in running out of it wishing you’d had more when you’ve squandered it all on making money to pay for things you could quite easily live without.
You will save a fortune this year what with Australasia being closed to us lurgy riddled Europeans.
Oh and you have to pay for your own quarantine at £1.5k for 2 weeks in a hotel on arrival.
The reality is my life is just expensive. As much as I’d live to live in a hut in the highlands and make my own whisky and work 3 days a week, it’s just not possible.
Would be helpful if the pound hadn’t tanked after the 2016 vote!
Edited by klan8456 on Sunday 18th October 18:22
I work for a university so most jobs are on a very structured pay grade system that you move up incrementaly each year until you hit the top of your grade. If you get promoted you move onto the next grade and start again. I am in a sweet spot and have no intention of moving up to the next job roll. Miles more work for little more reward. I just need to work out how to manage the situation correctly!
klan8456 said:
Not quite, there are entry caps to Australia even for citizens at present, which means planes can only take ca. 30 passengers each, they’re cancelling Y tickets and J is 5k+ and even those are being cancelled in favour of F (particularly on Qatar) in order to keep the route profitable. CX doesn’t run a F product HKG - SYD.
Oh and you have to pay for your own quarantine at £1.5k for 2 weeks in a hotel on arrival.
The reality is my life is just expensive. As much as I’d live to live in a hut in the highlands and make my own whisky and work 3 days a week, it’s just not possible.
Would be helpful if the pound hadn’t tanked after the 2016 vote!
Effectively closed to you guys unless you persevere, actually closed to me. My plans for 5 weeks there in January/February lie in tatters but hey ho, money saved!Oh and you have to pay for your own quarantine at £1.5k for 2 weeks in a hotel on arrival.
The reality is my life is just expensive. As much as I’d live to live in a hut in the highlands and make my own whisky and work 3 days a week, it’s just not possible.
Would be helpful if the pound hadn’t tanked after the 2016 vote!
Edited by klan8456 on Sunday 18th October 18:22
Most of our lives are expensive but if you really drill down into it most of that expenditure is not strictly 100% necessary it’s just things we’ve become accustomed to. We buy bigger houses than we need, nicer clothes, better food and drink, nicer holidays in comfier seats, better schooling etc etc it’s not necessary it’s desirable and once attained is hard to step back from. Needing 10+ x the average household income is quite something.
By way of a contrary view, my experience is that as you move up the ladder it’s less stressful not more. You’ve much more control, and for me the stress of a job is when other people want you to do things you don’t.
By the time you’re CEO, you decide your working hours, approach and priorities, and if you’ve an idea, you implement it. You’ve still got employees, customers, board members and investors/ shareholders to keep happy, so I’m not saying there’s no stress. But it’s much less stress than when someone else (who may or may not be that smart) is telling you what to do and judging your output.
Just wanted to challenge this idea that to earn more money you have to have a ‘worse’ job. Personally, I think you can expect to enjoy work more, not less, as your role becomes more senior and better paid. Win win...
By the time you’re CEO, you decide your working hours, approach and priorities, and if you’ve an idea, you implement it. You’ve still got employees, customers, board members and investors/ shareholders to keep happy, so I’m not saying there’s no stress. But it’s much less stress than when someone else (who may or may not be that smart) is telling you what to do and judging your output.
Just wanted to challenge this idea that to earn more money you have to have a ‘worse’ job. Personally, I think you can expect to enjoy work more, not less, as your role becomes more senior and better paid. Win win...
67Dino said:
By way of a contrary view, my experience is that as you move up the ladder it’s less stressful not more. You’ve much more control, and for me the stress of a job is when other people want you to do things you don’t.
By the time you’re CEO, you decide your working hours, approach and priorities, and if you’ve an idea, you implement it. You’ve still got employees, customers, board members and investors/ shareholders to keep happy, so I’m not saying there’s no stress. But it’s much less stress than when someone else (who may or may not be that smart) is telling you what to do and judging your output.
Just wanted to challenge this idea that to earn more money you have to have a ‘worse’ job. Personally, I think you can expect to enjoy work more, not less, as your role becomes more senior and better paid. Win win...
I would agree with that, but it only really holds true for smaller companies By the time you’re CEO, you decide your working hours, approach and priorities, and if you’ve an idea, you implement it. You’ve still got employees, customers, board members and investors/ shareholders to keep happy, so I’m not saying there’s no stress. But it’s much less stress than when someone else (who may or may not be that smart) is telling you what to do and judging your output.
Just wanted to challenge this idea that to earn more money you have to have a ‘worse’ job. Personally, I think you can expect to enjoy work more, not less, as your role becomes more senior and better paid. Win win...
I am one of those people who has always enjoyed work, and am less concerned about money at this stage than having new and challenging work to do.
As for money I have always been able to make enough to do they things I want to do or buy what I want ( at this stage not much, to be honest). I am 72 and work about 30 hours a week now on boards of companies which gives me variety and insight into what is new and exciting.
I do not want a huge house , I like a few cars ( this is PH after all), and in non-CV times travel quite frequently, so my own definition of "enough" would be what is required to keep my normal lifestyle, buy whatever I need for cash, and have a reserve that would be adequate to support the OH after my demise indefinitely.
We are all different as to what the hard number is as we have very varied cost bases and obligations. If I had three kids to educate for example then I would need a much bigger number than if I were single without any obligations.
As for money I have always been able to make enough to do they things I want to do or buy what I want ( at this stage not much, to be honest). I am 72 and work about 30 hours a week now on boards of companies which gives me variety and insight into what is new and exciting.
I do not want a huge house , I like a few cars ( this is PH after all), and in non-CV times travel quite frequently, so my own definition of "enough" would be what is required to keep my normal lifestyle, buy whatever I need for cash, and have a reserve that would be adequate to support the OH after my demise indefinitely.
We are all different as to what the hard number is as we have very varied cost bases and obligations. If I had three kids to educate for example then I would need a much bigger number than if I were single without any obligations.
I think household income is more of an indicator of how well of you are.
I earn £40K - which i would say is a reasonable salary in the south West, but live on my own. I don't have a lot left over at the end of the month.
Some of my colleagues who earn around £30K, but have working partners seem to have far more disposable cash.
I earn £40K - which i would say is a reasonable salary in the south West, but live on my own. I don't have a lot left over at the end of the month.
Some of my colleagues who earn around £30K, but have working partners seem to have far more disposable cash.
Money doesn’t make anyone happy.
Money however does make it possible to do more things more of the time.
Happiness is all that matters
I’ve been on what - to me- are very expensive holidays / days out but I’ve had countless times where we’ve had more fun just going down the local beach walking in the countryside etc
Higher income does enable earlier retirement - provided your investing it / paying off mortgage etc.
Personally I’m happy - sure id like more but that’s because once C19 is done with the “paying for it” will mean higher taxes
Money however does make it possible to do more things more of the time.
Happiness is all that matters
I’ve been on what - to me- are very expensive holidays / days out but I’ve had countless times where we’ve had more fun just going down the local beach walking in the countryside etc
Higher income does enable earlier retirement - provided your investing it / paying off mortgage etc.
Personally I’m happy - sure id like more but that’s because once C19 is done with the “paying for it” will mean higher taxes
anonymous said:
[redacted]
As a family of 5 with 3 under 9 going on days out it’s really eye opening how much trips can cost. Or holidays /hotel stays as you need 2x hotel rooms or a suite. Or flying well it’s 5 full price flight seats and now as youngest is no longer free or permitted a family room it does get things going crazy. Heck the very occasional KFC/McDonald’s it’s like wow £50-60 where did that go.
Or a food festival 5 jumbo sausages and drinks each ... oh my
Fairground rides are how much each and some need a paying adult seat too jeez.
Xmas too - Father Christmas comes to visit all. Oh and 3 birthdays and then of course all the birthday cards and gifts for parties they each go to.... bonkers.
I peaked too soon... I started in a reasonable job when I was 18, and had a goal of the job I wanted. By the time I was 22 I had achieved this and I was on £24 per hour working up to 65 hours per week. I know this isn't a lot for some but for me, being able to support myself completely and treat myself was a big deal.
I lost any concept of the value of money and being young and stupid I didn't save a penny of it. Its only as I've grown up a bit I've managed to sort myself out and buy a house and budget properly. A decent partner who doesn't waste money definitely helps, but sadly she works in childcare and although quite well qualified to degree level still earns a pittance for what is actually a very responsible job.
Since then my salary has gone between 32 and 50k, currently on the lower end of the scale, plus overtime.
I wasn't happy on 50 and I'm not happy now I'm on less either because I have grown to really hate my Job.
I'd sooner make it work on less money and less hours and more time at home or doing things i enjoy.
I'm 30 next year and I really want to change career before I have kids. There is more to life than money.
I lost any concept of the value of money and being young and stupid I didn't save a penny of it. Its only as I've grown up a bit I've managed to sort myself out and buy a house and budget properly. A decent partner who doesn't waste money definitely helps, but sadly she works in childcare and although quite well qualified to degree level still earns a pittance for what is actually a very responsible job.
Since then my salary has gone between 32 and 50k, currently on the lower end of the scale, plus overtime.
I wasn't happy on 50 and I'm not happy now I'm on less either because I have grown to really hate my Job.
I'd sooner make it work on less money and less hours and more time at home or doing things i enjoy.
I'm 30 next year and I really want to change career before I have kids. There is more to life than money.
Welshbeef said:
Money doesn’t make anyone happy.
Money however does make it possible to do more things more of the time.
Happiness is all that matters
I’ve been on what - to me- are very expensive holidays / days out but I’ve had countless times where we’ve had more fun just going down the local beach walking in the countryside etc
Higher income does enable earlier retirement - provided your investing it / paying off mortgage etc.
Personally I’m happy - sure id like more but that’s because once C19 is done with the “paying for it” will mean higher taxes
What higher income does is remove stresses that can cause misery. When we had a big income jump, the most noticeable thing was we no longer had to think about what we are spending. Obviously I'm not talking the level of wealth that let's me buy a Lamborghini on a whim, but I can go out for dinner and get whatever takes my fancy without thinking about it, or pay the 500 quid to get the brakes sorted on my car without thinking twice. The latter being a case in point - before I had to get my brakes sorted on boxing day in a rush and it cost me 500 quid and it was painful. That today wouldn't even register.Money however does make it possible to do more things more of the time.
Happiness is all that matters
I’ve been on what - to me- are very expensive holidays / days out but I’ve had countless times where we’ve had more fun just going down the local beach walking in the countryside etc
Higher income does enable earlier retirement - provided your investing it / paying off mortgage etc.
Personally I’m happy - sure id like more but that’s because once C19 is done with the “paying for it” will mean higher taxes
Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff