BBC Sounds debate about £100k salary

Kirkmain

BBC sounds Nicky Campbell debate claiming £100k is a not a big salary. Interesting listen

https://www.bbc.co.uk/sounds/play/m001xlym

BBC researchers managed to find a few people happy to argue on national radio that they are poor on a £100k salary. crazy!

Dakta

I havent heard it but i would advise against being quick to judge, im on respectably more than i dared dream to ever be on, but after looking after my responsibilities, and then student loan, mortgage and other stuff we come out so tight i got a second job. 

Am trying to get through on a single income (as in everyone i live with are dependants) 

Ayr_Rage

Kirkmain said:

BBC sounds Nicky Campbell debate claiming £100k is a not a big salary. Interesting listen

https://www.bbc.co.uk/sounds/play/m001xlym

BBC researchers managed to find a few people happy to argue on national radio that they are poor on a £100k salary. crazy!

Fair enough, in certain areas of the UK you can still struggle on that income, especially if you have a a large mortgage and childcare outgoings.

BoGoF

Nothing crazy about it. I can only dream of earning £100k but do realise that they pay a huge amount of tax/NIC. Take someone on exactly £100k, they will be paying best part of £31,500 in tax/nic next year Then take account of pension contributions. Way above the child benefit threshold, may not qualify for tax free childcare.

Likely to have a bigger mortgage so more exposed to rate increases.

Poor is relative, but I can see why some may be stretched.

booneruk

Everywhere I've seen this 100k salary thing shouted about across the media these last couple of days has completely bypassed the reality of it, instead attempting to stoke emotive outbursts from the public with incomplete headlines. 100k doesn't mean you are well off. It depends where you live and work, how many children you may have, student loans being repaid etc.

Someone in a high pressure job in the centre of London working 12hour shifts is hardly going to be able to live out in the shires for relative peanuts. It can easily be north of 2k a month for modest rental properties in London.

BoGoF

I think those on say £25k assume those on £100k take home 4 times what they do but it's not even close.

Me and my partner both earn around £44k and our combined net take home is higher than the one person on £100k

Kirkmain

BoGoF said:

I think those on say £25k assume those on £100k take home 4 times what they do but it's not even close.

Me and my partner both earn around £44k and our combined net take home is higher than the one person on £100k

interesting. I guess the tax free allowance counts for a lot when you get it twice

BoGoF

Kirkmain said:

BoGoF said:

I think those on say £25k assume those on £100k take home 4 times what they do but it's not even close.

Me and my partner both earn around £44k and our combined net take home is higher than the one person on £100k

interesting. I guess the tax free allowance counts for a lot when you get it twice

And the lack of higher rate tax!

robatwork

BoGoF said:

I think those on say £25k assume those on £100k take home 4 times what they do but it's not even close.

Me and my partner both earn around £44k and our combined net take home is higher than the one person on £100k

This is a key consideration. 

Not to mention someone keeping a household in London, supporting a family and pension/loan payments could be netting considerably less than someone on 30k living with parents.

400ixl

Maybe they are busy trying to spend it all to try to avoid having any assets to pay for their care in the future.

On a more serious side, that £100k earner could well be the sole income for the family, and if in an area where houses are in the £400k+ bracket for something family sized with child care costs etc then it could easily be taken up by the cost to live.

bluelad1927

Dakta said:

I havent heard it but i would advise against being quick to judge, im on respectably more than i dared dream to ever be on, but after looking after my responsibilities, and then student loan, mortgage and other stuff we come out so tight i got a second job. 

Am trying to get through on a single income (as in everyone i live with are dependants) 

Having dependants is not part of the debate though. If a partner does not work your salary effectively becomes 50k which certainly is not the grand figure it once was.

Looking at 100k as a salary in isolation, it is hard to think of it not being a big number.