40k - good money or not

People say earning 40k makes you rich, its very good money etc, is it?

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Yes. 40k is good money. To be honest 30k is pretty well off, I could do whatever I wanted in life with that kind of money. :smile:

Reply 2

Bill_Gates

depends how big your mortgage is!

Reply 3

Instincts_2012

The Average wage in the UK (anually) is something like 28k right?

So 40k is way above average.

Reply 4

Abbadon27

40K a year is a good wage. I wouldn't say it makes you "rich", but you are still going to be able to live a comfortable life (maintaining your a responsible with your money)

Reply 5

siani-chan

I would say it's a good wage, I'd love to earn that. :h:

Reply 6

boba

well its more than lots of families live on so if its just for you its incredibly good, if its for a family then its still good just without the "incredibly".

Reply 7

Kage

40k a year is approx £3333 a month.
That is around £833 a week
Or put it another way £119 a day in spends

Reply 8

ghanglish

Definitely good money. Won't go as far with many kids and expensive mortgage, but you won't be on the streets either. Hope I make it to that level :colonhash:

Reply 9

Like_A_G6

Original post by Kage

40k a year is approx £3333 a month.
That is around £833 a week
Or put it another way £119 a day in spends

...and then the tax man comes :biggrin:

Reply 10

Kage

Oh, so that is 40k before tax?

Reply 11

GuyUK

Original post by Like_A_G6

...and then the tax man comes :biggrin:

And National insurance

Reply 12

Kage

Oh, I was thinking 40k after tax and all that. Okay, that is going to take a massive lump sum away :P

Reply 13

TheUnbeliever

Original post by Kage

40k a year is approx £3333 a month.
That is around £833 a week
Or put it another way £119 a day in spends

Er, rather less in practice. Income tax of £6,505. NI of £3,933. Council tax of say £1,429 (band E). Maybe a student loan. Looking at something more like £28k per year, which is more like £75 a day. Still more than comfortable, but not quite as extreme than you suggest. (You'd need a gross income of about £57,000 to net that much.)

EDIT: Wow, ninja-ed like half a dozen times. But this one's better because it has numbers. And we like numbers, right? Right?

(edited 12 years ago)

Reply 14

Like_A_G6

Wait...off topic but a family who takes home £36k a year gets the same amount as a family on benefits who get teh £26k proposed max...wow.

£40k is a very respectable salary. It will get you by nicely and if you can achieve this within a few years of graduating then that's amazing and worth a pat on the back :wink:

Reply 15

member9876

I did pharmacy and I am going to be on 40k ish next year. I have seen jobs going at 45k+ and up to 50k though.

Some people say it's a 'great' wage :confused:

Reply 16

ScramblingtoSun

Depends entirely on your debts and outgoings.

30k can be as wealthy as 40k, if you spend less than you earn.

(edited 12 years ago)

Reply 17

inksplodge

I wouldn't say no!

Having said that I'd be over the moon with a salary of £15k at the moment...

Reply 18

TheUnbeliever

Original post by member9876

I did pharmacy and I am going to be on 40k ish next year. I have seen jobs going at 45k+ and up to 50k though.

Are those graduate salaries? Just curious.

Reply 19

hash007

Original post by member9876

I did pharmacy and I am going to be on 40k ish next year. I have seen jobs going at 45k+ and up to 50k though.

Some people say it's a 'great' wage :confused:

You can earn that much in pharmacy :confused:

How long have you been doing it?