What would you consider a GOOD wage?

New_and_Improved_Me

I've been thinking about this question for a while now.

When i was younger i was told that you should be earning a few thousand above your age.

So if your 25 years old you should be on a minimum of 26K+ per year?

What are other peoples views on 'What a good wage is?'

paddedjohn

A good wage is enough to support yourself and family with some left over for luxurys

Any

Good wage is getting a reasonable salary for the work and responsibility you bear, and for the experience and qualification you worked hard on.
To say to earn couple of thousand pounds more then your age when your responsibility is to open the mail is unrealistic at the age of 50.

Reasonable salary based on these criteria is in comparison to the market rate of the job and the calculation is also affected by your happiness at the work place and overall work experience, which could for example also include things like journey time to/from work and work's flexibility.

For example at my level the going wage at my age, qualification and experience is 30-35k.
If I had spend over 1 hr on road in the morning and evening again, the working hours were 40hrs a week without lunch and the office environment would be "everyone for themselves" I would not take it for below the 35k mark.
If however the job was based 15 miles from my home, they offered flexi time, office hours were 37.5hrs without lunch and it was a great company with lots of benefits such as childcare vouchers and promotion opportunities, I would thing that good salary is around the 30k mark.

That is how I look at it, anyway.
To add, this is also based on reasonably good market conditions, if I had NO job I wouldn't be that picky!

DKLS

My flippant response would be a grand a week net and more sensible one would be enough to allow you to pay all your commitments and have some left over.

But age doesn't have much bearing and lets face it we all have our own motivations, I offered a promotion to a staff member last month, his response was, "Nah I don't fancy the additional responsibility for an extra 10k" which I fully respect his reasons for his decision, climbing the career pole isn't for everyone.

Moto2

DKLS wrote: »

But age doesn't have much bearing and lets face it we all have our own motivations, I offered a promotion to a staff member last month, his response was, "Nah I don't fancy the additional responsibility for an extra 10k" which I fully respect his reasons for his decision, climbing the career pole isn't for everyone.

Too true
"I started at the bottom and liked it there" is valid for a lot of folks.

I guess, I'd be called 'middle management' - I have absolutely no interest in any further promotion, I have all I want and do most things I want to do.
Continually getting more money is usually a process of ever diminishing returns and in my case would be unlikely to significantly raise my contentment with life.

monty-doggy

paddedjohn wrote: »

A good wage is enough to support yourself and family with some left over for luxurys

Haha I'm tired and just read this as 'some left over for turkey's'

[Deleted User]

It's all horses-for-courses really; and salary isn't "all that"

I earn a good living. I don't work too hard. I don't travel much and when I do, work pays. I don't even have a great deal of responsibility or stress. I'd like more money, but I would't want much more in the way of stress.

Anyway, it's more about a salary 'roughly the same as your peer groups'. I only subscribed to the 'earn your age' when I started my career, as a goal. Now I fancy earning double my age.

Sinhanada

Actually to me a good wage is one where I am comfortable.

I had what I thought was the perfect job, but not the right salary. It was approximately £33k pa, but I was travelling the length of England to accomplish it. This led to more uncrecoverable travel costs (more down to my choice of lifestyle than anything else).

I've since found a job much closer to home with no travel costs and earn more money.

Am I happier? Not at all. However, I and my family are more financially secure (debts are falling rapidily as a result).

My answer is that a good wage doesn't matter. As long as your costs are met and you are happy where you are that is what counts

getmore4less

Depends on the long term goals.

For some a good wage is enough spare to retire at 40 and not have to work into your 70's.


Once comfortable, mortgage paid off savings enough to live of and have a basic lifestyle then I think a good wage is where you only have to work for around 6 months a year to pay for the better lifestyle and the luxuries.

Laurajo_2

Tbh, I don't know many 25 year olds who are earning 26-27k....or many eighteen year olds who started off on 18k. Plus in the current climate, a lot of people are facing pay freezes or even cuts.

My husband was offerred a promotion recently and turned it down, it would've meant a boost to our annual income but would also mean a lot of extra pressure and longer hours. We have a comfortable income, can pay the bills, put a little away and have a few weekends away/meals out etc.

He's happy with his work life balance at the minute.

I'm 18 years his junior, so am at a different stage in my career - working towards a promotion, too. It's not so much the money, it's because it gives me a sense of achievement. Also, in the long term, given the age gap, he will be retiring 10-15 years before meat which point I would like to be in a position to be able to reduce my working hours, which means I would need to be on a higher salary in order to make it viable. I have a rough idea of what level I would like to be at in my profession and am working towards it.

Podge52

Whether you earn £1000 a week or £100 a week if you are happy, it's a good wage.