What salary are you happy with these days?

What salary are you happy with these days?

Author
Discussion

romeogolf

2,056 posts

118 months

Tuesday 27th October 2020
quotequote all
Kent Border Kenny said:
ruggedscotty said:
There peeps on here that covet money....

seeing kids grow up spending time with your partner enjoying your hobbies and past times etc... working shifts long commutes 4 holidays a year ?g up missed life and for what ?
I’ve picked only a couple of bits out of what was a pretty weird post.

No-one on here seems to covet money, but we do seem to have some posters like you who take real issue with people who do have higher earnings, and so need to convince themselves that their lives must be poorer in some other way. That’s just not how it works.

I do long-ish days, but no more than plenty of other workers, and get to spend plenty of time with my family.

The good pay is a side-effect of enjoying and having gained the qualifications for a career that pays well, and then also enjoying progressing in it.
Agreed, Kenny. There's a weird trope about high earners only doing long hours. As my pay has increased my hours worked have dropped. I've moved away from taking weekend shifts to regular Monday-Friday office hours. I've gained flexi-time and additional annual leave days. I've freed up my downtime by paying someone else to do the gardening or cleaning for me so I can enjoy my social life. I don't have to get the bus or walk, I can take a reliable car and live nearer the things I want to do rather than in a far-flung cheaper part of town.

As a rule, low pay is for physical, time-consuming work. Higher pay is rewarded for your knowledge, not your time or your body.

okgo

37,857 posts

197 months

Tuesday 27th October 2020
quotequote all
romeogolf said:
Agreed, Kenny. There's a weird trope about high earners only doing long hours. As my pay has increased my hours worked have dropped. I've moved away from taking weekend shifts to regular Monday-Friday office hours. I've gained flexi-time and additional annual leave days. I've freed up my downtime by paying someone else to do the gardening or cleaning for me so I can enjoy my social life. I don't have to get the bus or walk, I can take a reliable car and live nearer the things I want to do rather than in a far-flung cheaper part of town.

As a rule, low pay is for physical, time-consuming work. Higher pay is rewarded for your knowledge, not your time or your body.
Hence donkey work.

paralla

3,528 posts

134 months

Tuesday 27th October 2020
quotequote all
Getting paid for what you know rather than what you do is the key.

anonymous-user

53 months

Tuesday 27th October 2020
quotequote all
Is that really true for PAYE?

Our senior management team are working 8-11 (I mean senior, operational teams of 500+, professional teams of 50+), holidays, etc included.

Although from my time in Europe / US it seems very much a UK / USA attitude to work, especial in this digital age.

Talking £100k+ basic, 20%+ bonus, and LTIP.

fastraxx

8,308 posts

102 months

Tuesday 27th October 2020
quotequote all
Lord.Vader said:
Is that really true for PAYE?

Our senior management team are working 8-11 (I mean senior, operational teams of 500+, professional teams of 50+), holidays, etc included.

Although from my time in Europe / US it seems very much a UK / USA attitude to work, especial in this digital age.

Talking £100k+ basic, 20%+ bonus, and LTIP.
8AM - 11PM?

Kent Border Kenny

2,219 posts

59 months

Tuesday 27th October 2020
quotequote all
Lord.Vader said:
Is that really true for PAYE?

Our senior management team are working 8-11 (I mean senior, operational teams of 500+, professional teams of 50+), holidays, etc included.

Although from my time in Europe / US it seems very much a UK / USA attitude to work, especial in this digital age.
Which bit?

I’m doing 07:30-18:00 at the moment, which is fine, as I have no commute, and can take the odd break to play with the children or have a coffee with my wife.

It’s more hours than some do, but not excessive.

I’m paid for my expertise as much as my actions now. The big boss knows that with me running my area there is no possibility of the regulators or the police arriving on his doorstep, or of anyone discovering a large hole in the accounts.

There are lots of jobs like this, where it’s worth paying someone who’s expert in their area well to make sure that everything’s done properly.

I could do fewer hours, but I want to keep making improvements to the business, which takes time and effort.

okgo

37,857 posts

197 months

Tuesday 27th October 2020
quotequote all
Lord.Vader said:
Is that really true for PAYE?

Our senior management team are working 8-11 (I mean senior, operational teams of 500+, professional teams of 50+), holidays, etc included.

Although from my time in Europe / US it seems very much a UK / USA attitude to work, especial in this digital age.

Talking £100k+ basic, 20%+ bonus, and LTIP.
That seems like an awful lot of work and responsibility for not a lot of money.

So obviously it will depend where you work, for what you describe above, someone in another industry would be paid in the millions.

okgo

37,857 posts

197 months

Tuesday 27th October 2020
quotequote all
anonymous said:
[redacted]
That sounds like a very senior management role on paper, wouldn't you agree those responsibilities in a bank or a big consultancy, law firm etc would be remunerated somewhat differently.


CaptainSlow

13,179 posts

211 months

Tuesday 27th October 2020
quotequote all
If you have a team of over 500 you tend to be on a lot more than £100k

Kent Border Kenny

2,219 posts

59 months

Tuesday 27th October 2020
quotequote all
anonymous said:
[redacted]
Banking, hedge funds, law, asset management, accountancy.

For very senior management many global companies will have a CEO at that level, and possibly one or two other roles.

NickCQ

5,392 posts

95 months

Tuesday 27th October 2020
quotequote all
anonymous said:
[redacted]
Senior members (CEO, CFO, CTO etc) of management teams of our portfolio companies (cross-sector large cap PE fund) would expect salaries starting at c. £250k base / £250k bonus over the investment period plus £5+ mm LTIP each after a 5 year hold if the deal went the right way.

£100k for that sort of responsibility and hours is an insult and if they were competent they should/could move.

MrJuice

3,300 posts

155 months

Tuesday 27th October 2020
quotequote all
g3org3y said:
Everyone knows you don't do medicine for the money. You can't put a price on job satisfaction. winktongue out
I guess another debate would be does your job in the UK pay you adequately compared to what you might earn elsewhere?

Salaried doctors in the UK do not earn enough. I am skint the day after pay day every single month and stay afloat from savings. It really should not be like this. Granted, I'm a junior doctor and live in London suburbia in a modest house with a pretty average mortgage. Maybe things will get better on qualifying. But I think I'd still be significantly underpaid compared to what I might earn doing the same job in other western countries

Kent Border Kenny

2,219 posts

59 months

Tuesday 27th October 2020
quotequote all
anonymous said:
[redacted]
I suppose it depends on how flat the organisation is. In banking the structure isn’t really that deep, CEO-3 can be a relatively junior job.

NickCQ

5,392 posts

95 months

Tuesday 27th October 2020
quotequote all
anonymous said:
[redacted]
Ah OK, fair enough.

anonymous-user

53 months

Tuesday 27th October 2020
quotequote all
CaptainSlow said:
If you have a team of over 500 you tend to be on a lot more than £100k
Not really, 500 blue collar employees is about 15% of our sites workforce, plenty of managers have teams that big, 6 direct reports, who have 4-8 reports, etc, etc.

The main element of the pay is LTIP, they’ll be lads who’ve worked their long term and held shares from €18 - €120.

As above, we are talking SMT, not execs.

Execs are on a different pay structure.

ETA; manufacturing (high-tech), not professional ‘services’.



Edited by Lord.Vader on Tuesday 27th October 12:53

Antony Moxey

8,014 posts

218 months

Tuesday 27th October 2020
quotequote all
NickCQ said:
Senior members (CEO, CFO, CTO etc) of management teams of our portfolio companies (cross-sector large cap PE fund) would expect salaries starting at c. £250k base / £250k bonus over the investment period plus £5+ mm LTIP each after a 5 year hold if the deal went the right way.
So many acronyms and initials - any chance you can translate that please, I genuinely have no idea what you've said other than the top brass get big bucks (I think).

NickCQ

5,392 posts

95 months

Tuesday 27th October 2020
quotequote all
Antony Moxey said:
NickCQ said:
Senior members (CEO, CFO, CTO etc) of management teams of our portfolio companies (cross-sector large cap PE fund) would expect salaries starting at c. £250k base / £250k bonus over the investment period plus £5+ mm LTIP each after a 5 year hold if the deal went the right way.
So many acronyms and initials - any chance you can translate that please, I genuinely have no idea what you've said other than the top brass get big bucks (I think).
CEO/CFO/CTO - Chief Executive / Finance / Technology Officer
Portfolio company - private companies owned by the PE fund I work for
PE = private equity
Large cap = equity investments of $200 mm plus per company
LTIP = long-term incentive plan. Basically if we make money then the management team of the company makes money as well (typically at least 7% of our profit goes to management)

PrinceRupert

11,574 posts

84 months

Tuesday 27th October 2020
quotequote all
Antony Moxey said:
NickCQ said:
Senior members (CEO, CFO, CTO etc) of management teams of our portfolio companies (cross-sector large cap PE fund) would expect salaries starting at c. £250k base / £250k bonus over the investment period plus £5+ mm LTIP each after a 5 year hold if the deal went the right way.
So many acronyms and initials - any chance you can translate that please, I genuinely have no idea what you've said other than the top brass get big bucks (I think).
He said senior executives at companies owned by the private equity fund he works at would expect a 250k salary, 250k annual bonus and an extra 5m quid if targets are hit and subsequently when the fund sold the company it made a lot of money.

Antony Moxey

8,014 posts

218 months

Tuesday 27th October 2020
quotequote all
NickCQ said:
Antony Moxey said:
NickCQ said:
Senior members (CEO, CFO, CTO etc) of management teams of our portfolio companies (cross-sector large cap PE fund) would expect salaries starting at c. £250k base / £250k bonus over the investment period plus £5+ mm LTIP each after a 5 year hold if the deal went the right way.
So many acronyms and initials - any chance you can translate that please, I genuinely have no idea what you've said other than the top brass get big bucks (I think).
CEO/CFO/CTO - Chief Executive / Finance / Technology Officer
Portfolio company - private companies owned by the PE fund I work for
PE = private equity
Large cap = equity investments of $200 mm plus per company
LTIP = long-term incentive plan. Basically if we make money then the management team of the company makes money as well (typically at least 7% of our profit goes to management)
Thank you smile . What's '$200 mm plus per company'? 'mm' obviously isn't millimetres, although I guess it's the same as in your original post where you put '£5+ mm'?

NickCQ

5,392 posts

95 months

Tuesday 27th October 2020
quotequote all
Antony Moxey said:
Thank you smile . What's '$200 mm plus per company'? 'mm' obviously isn't millimetres, although I guess it's the same as in your original post where you put '£5+ mm'?
mm = thousand thousand = million (bond market term)
bn = billion

Generally larger funds like ours will not look at deals where the amount of capital we can deploy isn't big enough to make it worth the allocation of resources, hence a cut-off around a $200 mm cheque per investee company.

A $200 mm equity cheque probably implies an enterprise value of $500 mm (more if there's more leverage), which would have to be a company making around $30-50 mm in annual profit (EBITDA). With decent margins that would require in the order of $100 mm of revenue.