What salary are you happy with these days?
Discussion
MrJuice said:
g3org3y said:
Everyone knows you don't do medicine for the money. You can't put a price on job satisfaction. 
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
Your best bet if you want to make some 'proper' money is additional private practice (or move to Australia!).Colleague of mine is a GP Partner and states that every day in GP land at the moment is horrendously busy. Getting absolutely hammered, 12 hour days on a regular basis. Big fall out from Covid, primarily mental health related stuff and patients who have been awaiting hospital input but appointments cancelled multiple times. Sustainability of this situation is in question. That's even before the Partnership/business side of things is considered.
He's in a well performing successful practice (so Six Figs™ income) but states if it wasn't for the money, it wouldn't be worth the stress and bother (and even that's debatable at the moment).
g3org3y said:
He's in a well performing successful practice (so Six Figs™ income) but states if it wasn't for the money, it wouldn't be worth the stress and bother (and even that's debatable at the moment).
True of the vast majority of "Six Figs" jobs - few are lucky enough to do something they love and get paid a top 2.5% salary for it (but most of them post on this forum 
)NickCQ said:
Antony Moxey said:
Thank you 
. 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) . 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'?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.
MrJuice said:
My bond trader friend refers to million as mio
Verbally in my bit of banking it’s generally not said at all, or is explicitly “million”, dependent on product.Billions is “iards”, pronounced “yards” from the French milliard.
I’ve not yet had occasion to refer to a trillion.
NickCQ said:
g3org3y said:
He's in a well performing successful practice (so Six Figs™ income) but states if it wasn't for the money, it wouldn't be worth the stress and bother (and even that's debatable at the moment).
True of the vast majority of "Six Figs" jobs - few are lucky enough to do something they love and get paid a top 2.5% salary for it (but most of them post on this forum )fastraxx said:
jakesmith said:
I do, low 6 fig job & can't believe how easy & un-stressful it is, I know I'm not in the majority though.
Is it a big company? If so, that's surprising.I'm in a management role but chose to be executional as well, at the last round of redundancies I took on my junior's role, thing is though I've been doing it so long it's not that much extra work, I have worked out how to delegate & develop talent quickly where appropriate, but make sure to add enough value for my position to be fairly secure. Fingers crossed.
Looking out in the job market as I do occasionally I'd need to break sweat to earn the same elsewhere so not that appealing - even if the career development opportunity would be better, I have 2 small children at home and don't want to lose my work life balance.
jakesmith said:
Yes big company & that is all in with bonus, shares etc. My job relies on a level of knowledge and experience and it's easy to take that for granted I guess & find it 'easy' where someone else may not but I'm no brain surgeon.
I'm in a management role but chose to be executional as well, at the last round of redundancies I took on my junior's role, thing is though I've been doing it so long it's not that much extra work, I have worked out how to delegate & develop talent quickly where appropriate, but make sure to add enough value for my position to be fairly secure. Fingers crossed.
Looking out in the job market as I do occasionally I'd need to break sweat to earn the same elsewhere so not that appealing - even if the career development opportunity would be better, I have 2 small children at home and don't want to lose my work life balance.
Nice. That's a good position to be in. Our management on the whole seem pretty stressed with demanding / time consuming roles (lots of evening/weekend working), perhaps they're ineffective and I have just not met the types like you in our businesss.I'm in a management role but chose to be executional as well, at the last round of redundancies I took on my junior's role, thing is though I've been doing it so long it's not that much extra work, I have worked out how to delegate & develop talent quickly where appropriate, but make sure to add enough value for my position to be fairly secure. Fingers crossed.
Looking out in the job market as I do occasionally I'd need to break sweat to earn the same elsewhere so not that appealing - even if the career development opportunity would be better, I have 2 small children at home and don't want to lose my work life balance.
Darkslider said:
Easy, unstressful, 6 figure income? He must be an MP.
It’s easier than you think. By the time you get to 200-400k you’re getting paid an executive salary/package based on what you know/value you add, not how hard you work. The trick is to surround yourself with good people who earn less and do all the work for you. Treat them well whilst taking the credit.I seldom work beyond 6pm and never work weekends.
wormus said:
It’s easier than you think. By the time you get to 200-400k you’re getting paid an executive salary/package based on what you know/value you add, not how hard you work. The trick is to surround yourself with good people who earn less and do all the work for you. Treat them well whilst taking the credit.
I seldom work beyond 6pm and never work weekends.
The number of people on these packages in each company is quite low, though?I seldom work beyond 6pm and never work weekends.
I'm not on that sort of salary, am into 6 figures but not 200k-400k
I also question the number of people on that sort of salary doing something 'easy'. There are some on that sort of salary in my company for example 3 regional VPs, responsible for many countries, 100 staff each, responsible for revenue into 9 figures. Long hours, calls at antisocial hours, all over tons of detail all the time, lots of travel (less so now). & ultimately they still got binned off recently as they were too expensive & people like me who still do actual work as well as manage, stayed. I wouldn't do that for another £100k a year personally. Pressure all the time, few wrong comments or calls on something, get a new boss who doesn't like you, you're gone.
I also question the number of people on that sort of salary doing something 'easy'. There are some on that sort of salary in my company for example 3 regional VPs, responsible for many countries, 100 staff each, responsible for revenue into 9 figures. Long hours, calls at antisocial hours, all over tons of detail all the time, lots of travel (less so now). & ultimately they still got binned off recently as they were too expensive & people like me who still do actual work as well as manage, stayed. I wouldn't do that for another £100k a year personally. Pressure all the time, few wrong comments or calls on something, get a new boss who doesn't like you, you're gone.
NickCQ said:
g3org3y said:
He's in a well performing successful practice (so Six Figs™ income) but states if it wasn't for the money, it wouldn't be worth the stress and bother (and even that's debatable at the moment).
True of the vast majority of "Six Figs" jobs - few are lucky enough to do something they love and get paid a top 2.5% salary for it (but most of them post on this forum )
Incidentally, just to go back to the OP's question: the salary that makes me happy is the one that means that we don't need my wife's additional salary to get by (but still don't have to worry about bills/overheads etc). She can work out of choice, not necessity. I've always been conservative with outgoings to make sure we have that flexibility if needed.
We have a one year old and my wife has just completed her mat leave. If my wife wants to focus on being a mum and prioritise raising our son, that's fine by me. She's a GP (part time) and she returned to work last week. We'll see how it goes but I have no problem if she wants to put it on hold after the mandatory 3 month period is over and return once my son is a little older.
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