What do you consider to be well paid?

[Integroo]

The initial message was deleted from this topic on 23 June 2021 at 11:00

[Monkeylegend]

This will become a bragging fest very quickly

[Integroo]

Monkeylegend said:

This will become a bragging fest very quickly

We should probably have a rule that you are not to mention your own salary! Or the fact that you have a salary of £386 a year but your side business in luxury yachts and your seventeen BTL's means you are very well off anyway.

[Wacky Racer]

An impossible question.

Someone on 100k with a £700pw mortgage and three children in private school in Surrey is probably not a wealthy as someone who owns their semi detached in Mablethorpe on £45k.

A footballer aged 28 on £50,000pw (paying a lot of tax) will have a drastic reduction in wages when he retires age 32 with 30 odd years of his working life ahead of him.

[Shnozz]

Integroo said:

We should probably have a rule that you are not to mention your own salary! Or the fact that you have a salary of £386 a year but your side business in luxury yachts and your seventeen BTL's means you are very well off anyway.

In one of the gazillion self-help/career/life advice books I read 5 or so years ago there was a great concept of going about things a different way to achieve the outcome you desired. I won’t go into detail here but it was interesting and essentially a real life version of implementing the South American fisherman story....

So, say your desire is to spend your life aboard a luxury yacht, you could earn a packet to buy one and spend a few days a year aboard whilst stressing in your day job, or you could just get a job aboard one and live the lifestyle without the earnings. Want to spend your days on the golf course? Become a ground keeper. Etc etc. I appreciate it’s a simplistic view and family life etc can get in the way, but I thought it an interesting alternate concept. Alternative access routes to get to spend your days poorly paid perhaps but playing with big toys or fun things that you’d want to spend the millions on if you had the day job.

[LimaDelta]

Shnozz said:

or you could just get a job aboard one and live the lifestyle without the earnings.

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

To answer the OP though, it depends entirely on where one lives, how much work one does and how much study/training/commitment it took to get to that position. Anything above average is arguably well paid. Multiples of the average even more so. However the national average is not as relevant as the average for your peers. You could be earning 250kpa but if everyone you know and work with is on 1M+ then you won't feel particularly well paid.

[BRR]

I'd say how "well paid" someone is would be relative to what they have to do to earn that money i.e. if they're doing something they love and it doesn't have negative affects on their life (stress etc) then I'd say £25k upwards is well paid as it's probably enough to live off whilst doing something you want to do with your time

the more you move away from that model the more the finances need to compensate i.e I'd rather work as a martial arts instructor for £30k than I would want to work in the city doing 70 hour weeks for £120k

[Integroo]

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

They own you?!

[LimaDelta]

Integroo said:

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

They own you?!

Pretty much, yes.

[bristolbaron]

‘Well paid’ is entirely dependant on the job role.
There are countless job roles which only generally offer minimum wage, if an employer offered 20k p/a for these roles, the staff would feel well paid.

Offer 80k for a role that generally attracts 100k and you’re not paying well.

[brianb]

I read somewhere if your earning (in k’s) more than your age your doing well, This seems to work well for us in the North East!

The second salary is the key for most average earners, I’m on £41000 as a site manager in the construction industry which wouldn’t go far down south as a lone earner however living up north and my misses earning a similar wage means we live a nice life

[ettore]

Wacky Racer said:

An impossible question.

Someone on 100k with a £700pw mortgage and three children in private school in Surrey is probably not a wealthy as someone who owns their semi detached in Mablethorpe on £45k.

.

Unfortunately, three children in private school will remove the whole £100K before the mortgage (or indeed food!)

[hyphen]

Wacky Racer said:

An impossible question.

Someone on 100k with a £700pw mortgage and three children in private school in Surrey is probably not a wealthy as someone who owns their semi detached in Mablethorpe on £45k.

A footballer aged 28 on £50,000pw (paying a lot of tax) will have a drastic reduction in wages when he retires age 32 with 30 odd years of his working life ahead of him.

The question is well paid, not money left.

Some could be earning a million and spending every penny. Doesnt mean they are not well paid.

[Shnozz]

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

I'm not so naive as to think its the mirror image and certainly wasn't mocking your job. Just thought it an interesting concept that you could get a taste for what you enjoy by taking a job in an industry with more exposure to what you enjoy. Salary options might be greater elsewhere but rather do something with at least a taste of your pleasure points than something soul destroying that you hope pays well enough and gives you enough free time to then allow a few measly hours a week indulging your passion.

[LimaDelta]

Shnozz said:

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

I'm not so naive as to think its the mirror image and certainly wasn't mocking your job. Just thought it an interesting concept that you could get a taste for what you enjoy by taking a job in an industry with more exposure to what you enjoy. Salary options might be greater elsewhere but rather do something with at least a taste of your pleasure points than something soul destroying that you hope pays well enough and gives you enough free time to then allow a few measly hours a week indulging your passion.

Oh absolutely, my reply was tongue-in-cheek, and my job allows me opportunities to do things for free that would cost other people millions. But we are well paid for a reason, it's not an 'easy' job.

What is the saying, "find a job you love and you will never work a day in your life"? I can honestly say that at 40 years old and nearly 20 in the industry I still have no trouble getting out of bed in the mornings.

[ZOLLAR]

Depends on area of country too, say South Wales with one earner over £40,000 and the other on the national average means you can live very comfortably but shift that to most places in the UK and it may well not be the same situation!

[hyphen]

LimaDelta said:

Shnozz said:

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

I'm not so naive as to think its the mirror image and certainly wasn't mocking your job. Just thought it an interesting concept that you could get a taste for what you enjoy by taking a job in an industry with more exposure to what you enjoy. Salary options might be greater elsewhere but rather do something with at least a taste of your pleasure points than something soul destroying that you hope pays well enough and gives you enough free time to then allow a few measly hours a week indulging your passion.

Oh absolutely, my reply was tongue-in-cheek, and my job allows me opportunities to do things for free that would cost other people millions. But we are well paid for a reason, it's not an 'easy' job.

What is the saying, "find a job you love and you will never work a day in your life"? I can honestly say that at 40 years old and nearly 20 in the industry I still have no trouble getting out of bed in the mornings.

https://www.theguardian.com/lifeandstyle/2018/may/26/superyachts-something-goes-wrong-raise-the-anchor

[LimaDelta]

hyphen said:

LimaDelta said:

Shnozz said:

LimaDelta said:

We basically just laze around sipping cocktails and sleeping on the owner's fluffy pillows. The experience is almost exactly the same for us as it is for our multi-billionaire owners.

I'm not so naive as to think its the mirror image and certainly wasn't mocking your job. Just thought it an interesting concept that you could get a taste for what you enjoy by taking a job in an industry with more exposure to what you enjoy. Salary options might be greater elsewhere but rather do something with at least a taste of your pleasure points than something soul destroying that you hope pays well enough and gives you enough free time to then allow a few measly hours a week indulging your passion.

Oh absolutely, my reply was tongue-in-cheek, and my job allows me opportunities to do things for free that would cost other people millions. But we are well paid for a reason, it's not an 'easy' job.

What is the saying, "find a job you love and you will never work a day in your life"? I can honestly say that at 40 years old and nearly 20 in the industry I still have no trouble getting out of bed in the mornings.

https://www.theguardian.com/lifeandstyle/2018/may/26/superyachts-something-goes-wrong-raise-the-anchor

The Guardian having a dig at the wealthy? There's a surprise!

Though I will concede at the smaller end of the industry there are some dodgy goings-on. Anything ISM compliant (even voluntarily) should be properly managed and operated. I've been lucky enough to have always been on reputable boats.

[nick s]

I think the answer to this is that it's all subjective, and who you surround yourself with.

You earn 50k? Someone earning 70k is earning well. You earn 100k? Someone earning 150k is earning well. you earn 200k? Well that other guy in your team who earned 300k this year is earning well and maybe you aren't.....

To the person that said earning 250k when surrounded by someone earning 1 million would make you feel poor. I don't think this is true. You can pretty much keep up with most things and do what you want when you want earning 250k (within reason before someone starts suggesting silly things). Out for dinner with a really wealthy couple and they want to order a £300 bottle of wine to split? Absolutely no problem. Someone asks if you fancy joining them on a last minute spa weekend and it's going to be an unbudgeted 3k for you and your wife? No problem at all. (We're talking about the 250k figure here)

Edited by nick s on Friday 11th January 11:11

[anonymous-user]

No matter how much you earn you will get used to it and not consider it well paid. The average wage stated by the OP equates to £1845 which must mean you are living paycheque to paycheque, I seriously cannot see anyone accruing any significant savings on that salary

Being well paid is different to having a decent amount of money to live on and depends on the following three criteria:

1)When did you buy your house?
2)Are you married with Children?
3)Have you got any other outstanding debt to service?