Average UK full-time wage

Amara

It amazes me how many people say "in London is more expensive". While it's true, there are other expensive places (maybe no so much as London but still), where salaries are smaller , Yorkshire for example. Costs of living in York, Harrogate or rural areas is rather high but jobs opportunities not that great.

hugheskevi

Breakdown of £50,000 gross income for someone making a low amount of pension contributions and living in a semi in a poorer area of London.

• Pension - £5,000 (10% of gross income)
• Income tax - £8,010
• National insurance - £4,381
• Mortgage - £10,469 (based on average cost of semi-detached house in Barking, with a 25% deposit, and 25 year repayment mortgage at 4%)
• House bills - £3,000
• Travelcard - £1,576

That leaves £1,450 p/m to cover car expenses, food, house maintenance, holidays, work clothes, student loan repayments, any other debt repayments, and professional fees.

Sambucus_Nigra

dave4545454 wrote: »

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.

Who are you to judge whether someone is useless or not?

Again, they CAN'T be COMPLETELY useless if they are earning 50K a year. SOMEONE must think they are USEFUL, mustn't they?

LadyMissA

£20k-£29,999k

hugheskevi wrote: »

Breakdown of £50,000 gross income for someone making a low amount o pension contributions and living in a semi in a poorer area of London.

• Pension - £5,000 (10% of gross income)
• Income tax - £8,010
• National insurance - £4,381
• Mortgage - £10,469 (based on average cost of semi-detached house in Barking, with a 25% deposit, and 25 repayment mortgage at 4%)
• House bills - £3,000
• Travelcard - £1,576

That leaves £1,450 p/m to cover car expenses, food, house maintenance, holidays, work clothes, student loan repayments, any other debt repayments, and professional fees.

What are professional fees?

Sambucus_Nigra

LadyMissA wrote: »

What are professional fees?

Are you sure you have done millions and millions of £ of payroll?

The fees that professionals pay to be part of their professional organisation, eg MCMI costs me £ each year for the privilege of having letters after me name. [MCMI - Member of the Chartered Management Institute].

LadyMissA

£20k-£29,999k

Sambucus_Nigra wrote: »

Are you sure you have done millions and millions of £ of payroll?

The fees that professionals pay to be part of their professional organisation, eg MCMI costs me £ each year for the privilege of having letters after me name. [MCMI - Member of the Chartered Management Institute].

I never said millions of £ of payroll LOL Oh dear
You sure you can read?

hugheskevi

What are professional fees?

Included primarily as it was mentioned earlier in the thread.

More relevant to self-employed, eg, an IFA will have significant fees to pay for specialist software and levies to the Govt.

Likely to be much less significant for employees, but it would be expected that a professional would be up to speed with developments in their field. That might mean a subscription to the Economist maybe. Or perhaps an annual subscription to be a member of a professional body such as Pensions Management Institute.

Union fees could also be put under this heading, although they may well not be relevant and are optional.

Might all add up to a few hundred pounds a year easily enough. An employer might pick up the tab, or they might be able to be offset against tax.

[Deleted User]

It's all comparative. When I was younger, earning £27k, I thought £50k would be magic number for feeling rich. Well i now make £49k (plus bonus and expenses) and I sure don't feel rich. Or have kids in p rivate education. Of course I don't feel poor though.

Maybe it'll feel different on £60k :-)

Sambucus_Nigra

LadyMissA wrote: »

I never said millions of £ of payroll LOL Oh dear
You sure you can read?

LadyMissA wrote: »

22 years experience and at my last job I was a senior purchase ledger clerk delaing with payments of £1million a month and €1million a month. I also have 6 years experience in running payroll all the way up to the year end return. I have never said I was an accountant but thanks for talking about me.

Sorry, just pounds of payroll, and millions and millions of £ payments.

I see what you mean, just a clerk, not an accountant. I'd have thought you would have come across some professional fees in your 22 years. Silly me.

LadyMissA

£20k-£29,999k

Sambucus_Nigra wrote: »

Sorry, just pounds of payroll, and millions and millions of £ payments.

I see what you mean, just a clerk, not an accountant. I'd have thought you would have come across some professional fees in your 22 years. Silly me.

How would I have since I am not an accountant? I see you love to keep pointing that out but I have no desire to be one. Glad to see you have recognised that you are silly though.