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  • FIRST POST
    • Nathaniel Essex
    • By Nathaniel Essex 6th Jul 17, 5:31 PM
    • 49Posts
    • 33Thanks
    Nathaniel Essex
    What is a good salary?
    • #1
    • 6th Jul 17, 5:31 PM
    What is a good salary? 6th Jul 17 at 5:31 PM
    Been of a open topic and I know the answer will change depending on where people live etc. but would be interested to hear what you think is a good salary in general and what do you think is a good salary for you.

    I live in London and just from my experience, I think earning £30k is a good salary. Reason being, especially if you work in professional services, if you are getting paid less than that, you could most likely find an exact, similar or less demanding role that would pay you £30k. For me personally, as long as I am clearing £2,000 I am happy (so Around £36k). I have a job that pays more, but would happily swap it for a less demanding role and something I find more fulfilling. The extra salary for me is not worth the headache and stress.
Page 2
    • theoretica
    • By theoretica 8th Jul 17, 11:57 AM
    • 4,881 Posts
    • 6,105 Thanks
    theoretica
    Judging it on personal spending seems a bit strange - some people will never be on a good salary by those standards as their spending will just rise and rise.

    I think it is also important to think about full or part time work. Is someone working halftime for 12k on a better wage than someone working full time for 16k? Some of the salary comparison calculations only look at full time (or full time equivalent) figures and some look at earnings regardless of hours.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • Gavin83
    • By Gavin83 8th Jul 17, 3:37 PM
    • 4,608 Posts
    • 7,272 Thanks
    Gavin83
    £100k+ pa.
    Originally posted by lincroft1710
    I know this is fairly subjective but I'm not sure anyone could call a wage that 99.8% of the country will never earn merely 'good'.

    Judging it on personal spending seems a bit strange - some people will never be on a good salary by those standards as their spending will just rise and rise.
    Originally posted by theoretica
    I agree with this. Two people, person A earning £60k a year with a disposable income of £400pm, person B earning £30k a year with a disposable income of £700pm. I'd say A is earning the good salary in this example, although by other people's theory B is.

    As I said though it's fairly subjective, there isn't really a right or wrong answer.

    I think it is also important to think about full or part time work. Is someone working halftime for 12k on a better wage than someone working full time for 16k? Some of the salary comparison calculations only look at full time (or full time equivalent) figures and some look at earnings regardless of hours.
    Originally posted by theoretica
    You'd have to consider it pro-rota. Someone working 20 hours a week earning £12k is effectively earning more than someone working 40 hours a week earning £16k. What's better depends on how much you value your time compared to money.
    • lincroft1710
    • By lincroft1710 8th Jul 17, 4:00 PM
    • 9,719 Posts
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    lincroft1710
    I know this is fairly subjective but I'm not sure anyone could call a wage that 99.8% of the country will never earn merely 'good'.
    Originally posted by Gavin83
    How would you define a "very good" or "excellent" salary? To me £100K is only "good" as, for example, directors and chairmen of stock exchange quoted companies can earn way above this figure. Many senior staff in councils earn over £150K pa.
    • Gavin83
    • By Gavin83 8th Jul 17, 5:14 PM
    • 4,608 Posts
    • 7,272 Thanks
    Gavin83
    How would you define a "very good" or "excellent" salary?
    Originally posted by lincroft1710
    I'd suggest a salary that almost no one will ever earn, that would put you in the top 0.2% of earners would be excellent. I take your point on board that people can earn a lot more than this but the positions you've quoted sum up the exclusivity of these jobs. You'll only get a handful of senior staff who work for companies floated on the stock market. You say many senior staff in councils but it's only likely to be 2 or 3 people per council. I'd imagine most people earning north of £100k a year are self employed in some respect.

    As I said though this is purely subjective so there is no right or wrong answer. You are perfectly entitled to your opinion on this.
    • Fireflyaway
    • By Fireflyaway 8th Jul 17, 9:20 PM
    • 1,269 Posts
    • 1,284 Thanks
    Fireflyaway
    Depends completely on your lifestyle and the market rate.
    Lifestyle - do you have a mortgage and kids, where in the UK do you live etc. What sort of lifestyle do you want? If you live in London 30k isn't a fortune. Also depends are you the sole earner or are there 2 earners in the house? So for me I'd say 30k is OK. I'm not the main earner, I live in the South East and have one child. Reverse back 15 years pre house and child and 14k was sufficient.
    Market rate - I've seen lower management jobs ( I'm currently looking) anywhere between 17k in retail to 33k in local government. Personally I wouldn't be happy leading a team for less than about 27k but some people would.
    In general I'd say 50k plus is a good salary if you are only looking at income figures and not lifestyle or expenditure etc.
    • Planet Switzerland
    • By Planet Switzerland 9th Jul 17, 6:27 PM
    • 105 Posts
    • 67 Thanks
    Planet Switzerland
    For me, I think a lot of it depends on how it compares to what you were earning beforehand.


    When I finished uni I was working in a general admin role and had an interview for a graduate scheme which was paying twice as much as I was earning at the time, and it seemed a hell of a lot of money. I didn't get the job, but I did eventually reach that salary level via several pay rises and once I got there it didn't seem much money. Even now I earn a fair bit more I would say it's more an ok salary than a good one.


    On the other hand, when I was 16 I went from earning something like £6 or £7 a week for a paper round to £45 a week for a part time job at a supermarket, that seemed a lot especially as I had no bills to pay at the time.
    • lincroft1710
    • By lincroft1710 9th Jul 17, 8:30 PM
    • 9,719 Posts
    • 7,752 Thanks
    lincroft1710
    I'd suggest a salary that almost no one will ever earn, that would put you in the top 0.2% of earners would be excellent. I take your point on board that people can earn a lot more than this but the positions you've quoted sum up the exclusivity of these jobs. You'll only get a handful of senior staff who work for companies floated on the stock market. You say many senior staff in councils but it's only likely to be 2 or 3 people per council. I'd imagine most people earning north of £100k a year are self employed in some respect.

    As I said though this is purely subjective so there is no right or wrong answer. You are perfectly entitled to your opinion on this.
    Originally posted by Gavin83
    http://www.thisismoney.co.uk/money/news/article-3621852/More-1m-people-say-earn-100k-year-nearly-50-000-make-1m-survey-finds.html

    Reading this article suggests that at least 2.5% of the UK working population earn at least £100,000.
    • buglawton
    • By buglawton 9th Jul 17, 8:51 PM
    • 6,957 Posts
    • 3,198 Thanks
    buglawton
    Makes me wonder if MSE has ever run an incognito salary survey. Though without regional qualification it'd be pointless.

    Anyways, I very much doubt anyone on £100k+ would have the time to read forums like this.
    • robatwork
    • By robatwork 9th Jul 17, 9:00 PM
    • 3,941 Posts
    • 4,271 Thanks
    robatwork
    http://www.netsalarycalculator.co.uk/ is what I look at when I want to compare take home to gross pay. Interestingly in many countries they don't have the concept of gross annual income like we do. If someone quotes pay here, you generally think of it in terms of gross annual. Other places give the more realistic take home nett(o).

    Sobering that you have to earn £50k gross to get over the 3k mark in your bin.
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