What is considered a 'good' salary?

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  • What is considered a 'good' salary?
  • ronswanson
    Member

    Thinking about a bit of a lifestyle change and downgrading my job.
    This means a pretty dramatic drop in pay and I know my current job pays well with benefits including a company car.
    Having been in the same job for a while I’ve lost track of what is seen as a good salary, got the normal bills and mortgage as everyone else.
    So what does everyone see as a good wage?

    jeffm
    Member

    It’s completely relative, what I earn and where I live I feel pretty well off. But put me in Central London and that would be pretty different.

    What’s your current salary and what’s the new package and where do you live?

    Houns
    Member

    My company thinks £7.50 ph is a good wage. Try that

    TuckerUK
    Member

    It’s very area (prices, salaries) dependent.

    Where I live now £25,000 would make me reasonably comfortable. Where I lived before £40,000+ was a struggle.

    Trimix
    Member

    One you can comfortably live on – dont ask STW, ask yourself !

    I’d say anything above 50k is okay 75k + is pretty good

    Ha depends, I took a drop of £30,000 and company car 10 years ago, didnt change where I lived or what I did, took another drop 5 weeks ago and hey nothings going to change.
    I just have had to look for bargains when I need something, when the supermarkets have special offers on stock up and so on.
    The lack of pressure is worth it.

    Premier Icon Kryton57
    Subscriber

    No less than 100k basic I’d say.

    Premier Icon the-muffin-man
    Subscriber

    Depends how much you spend!

    Our joint Salary (before tax) is around £35k – we get by OK but there’s not much to spare at the end of the month. And no foreign holidays or fancy cars!

    I think this is OK, but a lot of our friends are on household incomes of 60k plus.

    mudshark
    Member

    I’ve been offered 25% than my current salary for a job 12 miles from home – currently consulting and project I’m on now involves 3 1/2 hours of travelling/day. Would take a drop but not that much. Anyway, £50k seems a comfortable salary to me (in SE), over £75k seems very good.

    depends on the job. a Championship footballer, 18yo in his first year in the first team would earn waaaay more than what we mortals would consider ‘good’. compare that with say Lionel Messi or Wayne Rooney & it’d be considered a pittance

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.

    That’s why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

    glasgowdan
    Member

    These public salary displays are vulgar. There’s one on money saving expert that is more indicative of ‘most people’s’ salary as opposed to what you’re likely to get on STW, where creating an impression of success seems crucial to many.

    A good salary is what you need to live on plus enough for some luxuries such as a couple of holidays, a bit of savings and a fancy bike I reckon. And enough to see your kids not miss out on things such as trips away at school.

    A£*%holes like the reply above do nothing to answer the question being posted!

    plyphon
    Member

    Whatever figure people post here,

    Then half it.

    Threads like this make me realise I sadly live in a completely different world to a lot of people on here.

    My aim in life as far as ££ goes is to always earn my age in 000’s. Think thats a good balance between being realistic and ambitious. I’m currently £500 off this, so doing ok so far!

    Premier Icon tomhoward
    Subscriber

    I think the main point you have to consider is this:

    Is lunch included?

    wrecker
    Member

    There is no “good”.
    It depends on your outgoings and the things you aspire to have. Want a big house? Lots of kids? Flash car? You need big moneys.
    If you’re happy with a modest house, car, bike, holidays etc, you’ll be happy with less. Doesn’t mean it’s less “good” though. “Fit for purpose” is more like it.

    crankrider
    Member

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.

    That’s why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

    Not sure if serious? This forum is definately the pistonheads of the bike world…. full of nobs.

    bikebouy
    Member

    Hmmm anything below £175k pa and you are on the poverty line yeah 😆

    But depends on what you actually need and what you want to spend (money vs time) on. I think you could easily survive on £25k pa if you just get the basics right, then spend a lot of time doing stuff you actually like doing..

    But then I prefer the 1st option.. 8)

    Well, these sort of threads definitely bring out the green eyed monster in some folk.

    daveh
    Member

    My aim in life as far as ££ goes is to always earn my age in 000’s.

    +1

    edward2000
    Member

    Slightly not answering the question, but if one judges success by state of mind, then salary becomes irrelevant in my opinion.

    Well, these sort of threads definitely bring out the green eyed monster in some folk.

    I think it’s the blatant willy-waving that gets dragged out the closet more..

    Let’s face it, discussing salaries is and has always been slightly taboo. Personally, I’m not bothered who knows what I earn though.

    Slightly not answering the question, but if one judges success by state of mind, then salary becomes irrelevant in my opinion.

    I think you’d have to be a bit of an imbecile to do that!

    Premier Icon Kryton57
    Subscriber

    glasgowdan – Member

    A£*%holes like the reply above do nothing to answer the question being posted!

    His post comes across quite factual to me. Maybe he works/worked very hard for that. Anyway, maybe he should be congratulated for his achievement rather than scorned.

    nealglover
    Member

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.
    That’s why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

    Your accountant is shite if you increased your salary through the upper tax band, but decreased your take home.

    I would sack him and employ someone who understands how tax works.

    Premier Icon Kryton57
    Subscriber

    …although nealglover has a point. I know a chap who earned £116k, and was advised by his accountant mate to out £8k in a pension, somehow resulting in a £20k tax saving.

    Don’t ask me how ’cause I don’t know, but it was all above board.

    bikebouy
    Member

    Hey, I never mentioned what I earn, just gave a “theoretical” figure.. 😉

    Premier Icon tomhoward
    Subscriber

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.

    You don’t know how tax bands work, do you?

    noteeth
    Member

    I earn sod-all. Nor do I really care. My shift pattern means that I get to ride largely-empty trails (e.g. 10 am on a weekday – bliss). Part-time postgrad study means that I have the run of a university library, which contains more great books than I could ever read in a lifetime.

    I have what I need – I occasionally replace my middle chainring, but otherwise don’t want for much.

    Premier Icon GrahamS
    Subscriber

    Factual answer:

    The ONS says:

    For the 2011/12 tax year median gross annual earnings for full-time employees on adult rates who had been in the same job for at least 12 months (including those whose pay was affected by absence) were £26,500. For men, median gross annual earnings were £28,700 while the comparable figure for women was £23,100.

    http://www.ons.gov.uk/ons/dcp171766_300035.pdf

    So I guess anything above that is a “good” salary.

    Premier Icon Kryton57
    Subscriber

    bikebouy – Member
    Hey, I never mentioned what I earn, just gave a “theoretical” figure..

    +1 btw…

    edlong
    Member

    Was going to post what Graham presents above but he beat me to it, probably reasonable to adjust it a bit if you live in London or thereabouts.

    Sui
    Member

    officialtob – Member

    Threads like this make me realise I sadly live in a completely different world to a lot of people on here.

    My aim in life as far as ££ goes is to always earn my age in 000’s. Think thats a good balance between being realistic and ambitious. I’m currently £500 off this, so doing ok so far!

    +1 (or might be 2 or 3 now) – though, I’ve been very lucky recently. Still it’s all relative and like others have said, once you hit the higher band “the income to arse-ache ratio” ™ tthew takes a massive hit

    Marin
    Member

    Depends what you see as need or want?
    I own my house, leave at 7:30 home by 4:45. Have good mates and a top Mrs. Get to do lots of biking and climbing and lots of holidays. Don’t have or want a flash life and probably earn a lot less than the braggers. However I’m happy with my lot and don’t compare myself to others to feel how happy I am. Off biking for the weekend now 🙂

    caspian
    Member

    …although nealglover has a point. I know a chap who earned £116k, and was advised by his accountant mate to out £8k in a pension, somehow resulting in a £20k tax saving.

    Don’t ask me how ’cause I don’t know, but it was all above board.

    You forfeit your personal allowance once you go over 100k.

    Good luck everyone. I second the cat picture.

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.

    That’s why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

    You are Gary Barlow and I claim my £10.

    (Let’s face it, you won’t miss it 😉 )

    Premier Icon jam bo
    Subscriber

    A bit more than I spend each month.

    Well from what people say they are on they cant have a lot of time to spend it, me I have all the time in the world to spend what I dont have.
    I can tell you I know which is the best position to be in 😀 😀

    ronswanson
    Member

    Thanks for some of the feedback.
    I think deep down I know the offset of a better work life ratio is the only real option but greed keeps rearing its ugly head.
    Having got to a salary that is in excess of my age it feels like taking a drop and lower responsibility would be tantamount to ‘failing’.
    The new salary is by no means poor based on the averages mentioned earlier in the thread but it would be around a 25% reduction which would be going back 5 years….. :-/ . That said I don’t get enjoy the role anymore.
    I know the only person who can make the decision is me but it’s good to get the thoughts of 30 or so random anonymous people to help me realise how shallow I know I am 😀

    I find that once you go through the upper tax band at £150k it decreases your take home so much it’s just not worth it any more.
    That’s why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.
    Your accountant is shite if you increased your salary through the upper tax band, but decreased your take home.
    I would sack him and employ someone who understands how tax works.

    I’m guessing someone works under their own ltd company now rather than be a permanent employee.

    yunki
    Member

    I haven’t a clue what a good salary is, and I’m very unlikely to take one home in my lifetime.. I could tell you what a bad salary is if that’s any help?

    nealglover
    Member

    I’m guessing someone works under their own ltd company now rather than be a permanent employee.

    Doesn’t really matter.

    That’s still not how tax bands work.

    Earl
    Member

    The idea swapping lifestyle for income is very zen but most of us can’t do it. Unless I start earning 100k plus I couldn’t. Fear of the future….

Viewing 45 posts - 1 through 45 (of 139 total)

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