Average UK full-time wage

EconomicsGirl

The ONS does publish very detailed data on average wages in ASHE every year - it is broken down by full-time, part-time, public sector/private sector/industry and percentile etc and covers 1% of the population. It is based on the median not the mean so not to skew the results to high earners. It also gives regional differences. One thing that doesn't get taken into account is benefits which can make a considerable difference - e.g. a final salary pension. Also hours I never think are accurately calculated and tend to be official hours rather than real ones worked.

In my industry private sector salaries are higher than public sector by a considerable margin but so are hours so the hourly rate is broadly comparable. I do regard £50k as a high salary but in say London in a professional occupation for people age 30 plus its not uncommon esp a profession which requires specific qualifications such as medicine, law or accountancy or City type jobs which require long hours. However there are also an awful lot of people on minimum wage. It depends on your circumstances as well - if you have say a family and require childcare for 2 kids that's £2,000 a month around London often so some people may need the £50k whereas a single person should be pretty rich on that.

ohreally

dave4545454 wrote: »

nor me. 50K+ is a very high wage.

you'll get people on that who'll complain that they are not rich but that's only cos they are useless and wasteful with money

Expenses of living will likely reflect the salary level, size of mortgage, quality of car and holidays - wouldn't say that was being wasteful simply having different demands made on income.

Tiddlywinks

dave4545454 wrote: »

nor me. 50K+ is a very high wage.

you'll get people on that who'll complain that they are not rich but that's only cos they are useless and wasteful with money

Not necessarily, a single person with a mortgage in, say, London or Surrey will find it a struggle because of the cost of living in those areas. £50k is not a high salary - no tax credits, no rebates, probably a pension plan to pay inot as well.

How much do you think £50k equates to as a monthly income after deductions?

LadyMissA

£20k-£29,999k

Tiddlywinks wrote: »

Not necessarily, a single person with a mortgage in, say, London or Surrey will find it a struggle because of the cost of living in those areas. £50k is not a high salary - no tax credits, no rebates, probably a pension plan to pay inot as well.

How much do you think £50k equates to as a monthly income after deductions?

It's about - £2,967.46

MoneySaverLog

£20k-£29,999k

Tiddlywinks wrote: »

How much do you think £50k equates to as a monthly income after deductions?

I'd say just under £3k a month after tax and ni

persa

dave4545454 wrote: »

nor me. 50K+ is a very high wage.

you'll get people on that who'll complain that they are not rich but that's only cos they are useless and wasteful with money

Not always. I know people earning a lot more than 50K who have a very small amount of disposable income due to funding their children's education, care home fees for elderly parents, etc.

50K is a lot of money for one person, but many people have dependants who they share that money with. Looking after your own family strikes me as the decent thing to do, rather than a waste of money. Circumstances really do have a huge impact on whether a particular salary level makes you personally rich or not.

Sambucus_Nigra

dave4545454 wrote: »

nor me. 50K+ is a very high wage.

you'll get people on that who'll complain that they are not rich but that's only cos they are useless and wasteful with money

They can't be that useless if they are earning 50K a year. Eh?

getmore4less

The main advantage of having a £50k wage and living like you are on £25k is you can retire in <20 years, most people live to their wages.

Tiddlywinks

MoneySaverLog wrote: »

I'd say just under £3k a month after tax and ni

Yes, but take out of that a London sized mortgage, a pension plan payment, London sized council tax, commuting costs, professional fees and you are left with a lot less to fund your life in an area where it is much more expensive to go out for a meal, go to the pictures etc.

Some jobs with a "professional" sized salary bring additional costs and you are expected to engage in additional activities if you want to "fit in".

dave4545454

Under 10k

Sambucus_Nigra wrote: »

They can't be that useless if they are earning 50K a year. Eh?

why not? there are many people on £50k+ who are totally useless. remember that when it comes to getting a job it's who you know, not what you know.