What salary are you happy with these days?

[RS93]

The cost of living seems to regularly increase, and we all live to our means in a way...but what salary are you happy on? Some decide to take a pay decrease for a less stressful job but then of course may be able to afford the nicer things in life..

I seem to sit around the mid 30s..per year, if I want more I need to get chartered (surveying) but unsure whether the additional income is worth the added pressure / responsibilities at present..

I’ve got friends who are on 45-50k but don’t seem any happier, just eat out at more expensive places, more expensive clothes...cars..holidays etc. Work with a lot of site managers who are on 60-70k + a year but seem miserable as anything..

Not entirely sure what I’m trying to say , but keen to hear other people’s thoughts whether you chase the money and are happy doing this or whether you settle for a less paid job that’s more rewarding and your happy?

[rxe]

Enjoying what you do is the important thing. However, saying money doesn’t matter is ignoring reality. Thankfully I’ve found a job that genuinely interests me and pays well. No idea how old you are, but the important thing is the ability to progress. If you’re in a job that has zero opportunity to progress, and doesn’t pay well, that would be a problem.

[GT03ROB]

there is no answer to your question.

If you are happy on mid-30s then that’s all that really matters for you. Earning more does not necessarily mean more happiness.More money simply gives you more choices.

I’m giving very good odds this will become a salary willy waving contest!

[W201_190e]

I'm on circa £30k. Married, mortgage, wife earns about two thirds of what I do. No kids and no plans to have any. Combined we have about £1100 spare a month after everything. Happy with that to be honest.

I'm sure my wage wouldn't cover other people's bills, it's all relative.

All the miserable people I know earn more than me! Just a thought...

Edited by W201_190e on Sunday 18th October 10:22

Edited by W201_190e on Sunday 18th October 10:23

[Mr_J]

I've often said that at some point in your career you attain a salary that sustains the lifestyle that you want / need. After that, salary isn't the driver. Job satisfaction and work / life balance become the key factors.

Your friends earn more and eat out more. Do you want that too?

[Drezza]

I'm very comfortable on what I earn now £30k @ 25, about to move to £35k when my promotion goes through. I was thinking recently how stressed my line manager is, even for £100k I wouldn't think it's worth that, working from 8am-8pm whilst I do 9am - 4pm. I don't think I'll apply for any more promotions from now on as it would mean a managerial role which I have no desire to to whatsoever.

[RS93]

W201_190e said:

I'm on circa £30k. Married, mortgage, wife earns about two thirds of what I do. No kids and no plans to have any. Combined we have about £1100 spare a month after everything. Happy with that to be honest.

I'm sure my wage wouldn't cover other people's bills, it's all relative.

All the miserable people I know earn more than me! Just a thought...

Edited by W201_190e on Sunday 18th October 10:22

Edited by W201_190e on Sunday 18th October 10:23

Very similar situation...thanks for sharing, its interesting to hear others experiences.

[cavey76]

W201_190e said:

I'm on circa £30k. Married, mortgage, wife earns about two thirds of what I do. No kids and no plans to have any. Combined we have about £1100 spare a month after everything. Happy with that to be honest.

I'm sure my wage wouldn't cover other people's bills, it's all relative.

All the miserable people I know earn more than me! Just a thought...

Edited by W201_190e on Sunday 18th October 10:22

Edited by W201_190e on Sunday 18th October 10:23

You’re the very definition of rich.

[RS93]

Drezza said:

I'm very comfortable on what I earn now £30k @ 25, about to move to £35k when my promotion goes through. I was thinking recently how stressed my line manager is, even for £100k I wouldn't think it's worth that, working from 8am-8pm whilst I do 9am - 4pm. I don't think I'll apply for any more promotions from now on as it would mean a managerial role which I have no desire to to whatsoever.

Thanks for sharing, I'm similar age (27) ...council based so typically 9-4.. interesting to hear other peoples perception, progress for me would mean managerial or changing to a private firm to do APC route to chartership which in no rush to at the moment. Maybe 1 day!

[RS93]

rxe said:

Enjoying what you do is the important thing. However, saying money doesn’t matter is ignoring reality. Thankfully I’ve found a job that genuinely interests me and pays well. No idea how old you are, but the important thing is the ability to progress. If you’re in a job that has zero opportunity to progress, and doesn’t pay well, that would be a problem.

Thanks for reply -i'm 27.. no great deal to progress (council based)..so unless i want to go into management to the role is likely to stay the same. Role is tier bracket based so max would be 38k..once been there a long time..

[CrgT16]

It's all about what you want in life...

If you are happy with what you got and do and think that your salary will sustain that comfortably then don't worry.

For me I still have to find that balance but not far I think. In the end of the day I know many people that are not happier earning more but some are. It's all relative.

Find happiness, everything else will fall in place.

[IJWS15]

Not wanting to upset your equilibrium but . .
While you are happy now do you have/plan to have children who may want to go to university? Pension provision made?

[W201_190e]

cavey76 said:

W201_190e said:

I'm on circa £30k. Married, mortgage, wife earns about two thirds of what I do. No kids and no plans to have any. Combined we have about £1100 spare a month after everything. Happy with that to be honest.

I'm sure my wage wouldn't cover other people's bills, it's all relative.

All the miserable people I know earn more than me! Just a thought...

Edited by W201_190e on Sunday 18th October 10:22

Edited by W201_190e on Sunday 18th October 10:23

You’re the very definition of rich.

Certainly I am fortunate to be rich in other ways, financially though I feel just "normal". Honestly what helped us massively was getting on the property ladder. Our neighbors either side of us pay £400 more each to rent their houses, which are basically the same layout as ours.

When I was on circa £22k and renting with the wife we were living paycheck to paycheck. To be actually able to properly save is great. Not sure what we're saving for yet mind. According to my wife it isn't a C63

I would certainly encourage anyone of a young age and earning decent money to buy property. I was against it, I was wrong. Now my house is worth around £30k more than what I paid for it, when it was just a pile of dirt (new build)

Edited by W201_190e on Sunday 18th October 11:03

[Mouse Rat]

I work 4 days a week. I took around a £20k drop to do so and I'm much happier.

[PrinceRupert]

We are happier on combined c 200k than combined c 80k despite that requiring a move to London and a lot more hours.

However difficult to see it being sustainable for both of us were we to have children.

[hyphen]

The question also depends on other factors, cost of living where you are (e.g. London) and income from assets/inheritances.

[austina35]

I agree with alot of the above. When I was younger I chased the money. I moved jobs only if there was a £ note in it for me. I got to the point where I was earning serious money. All that did was make me miserable and stressed. My wife said it was either her or the job.

4 years ago, I changed jobs and took a large pay cut. I now work less hours and have zero stress these days. It was the best decision I made. I'm also in her good books again.

On a lower wage I now have 3 cars and am able to save far more money. Not sure how that works but it does.

[CzechItOut]

You need to think about not just your living costs, but also your retirement costs. How much income do you want in retirement, how much of a pot is required to gain that income and how such you need to save each year to achieve that pot?

[MrJuice]

I used to run a business which I ran all through medical school. Unfortunately that came to an end.

I work, wife looks after and home schools our six year old. I'm in training and on c50k. It'll rise to about 80k on qualifying. We are not lavish in the slightest. I use 2.5k a month from savings just to stay afloat.

I guess I'll be staying afloat, just about, on 80k on qualifying.

Living in London is expensive.

There are some unnecessary luxuries tbh. I have a 997c2 which costs £50/m just to tax. Whilst zero or lower road tax would help and a smaller fuel bill would help, it's not make or break so I've just left it as it. I bought the moneypit 997 when I was running my business.

Overall, though, I am happy. Helping patients is my thing and I really enjoy it. I also have the luxury of overtime as and when. I did an eight hour £50/h shift yesterday for a combination of money and fun. Not amazing money but pretty decent.

Life would be stressful if I had not saved in my business years. We would have to change a lot of things which would cause stress.

[bristolbaron]

Echo the above about what you want out of life.
I was doing alright, then kids came along and priorities changed. Now I’m comfortable again, but still can’t see myself justifying the luxuries others do on significantly lower money - £500 pm PCP? Nope. £250 family David Lloyd membership? Nope. I regularly find I need to keep myself in check, asking the question as to whether I truly want something or if I’m trying to live someone else’s lifestyle. My goal is to be content, not to impress other people.