Year 12s: what will be the first way you research your future options? >>

Is £100k a year really that much of a salary nowadays?

Scroll to see replies

Reply 100

The_Internet

Moved to money/finance

Reply 101

Rakas21

Such a salary is certainly a lot and chances that are that within a few years of saving/investing, you'd be a millionaire through property at least anyway.

Reply 102

lewif002

Bump. This thread was old but it's so interesting to see people's perspectives.

Reply 103

Quady

Original post by will2348

On £100,000, once you've got a mortgage paid off (or mostly) you suddenly find a dramatic increase in your disposable income. In London, it's normal for over 40% of your salary to go in housing costs, at least from my experience; depends on circumstances.

Easy way to fix that, just move to another £100k job outside of London, housing costs in Manchester/Liverpool are way lower, spendng half as much should get somewhere liveable.

Reply 104

SmashConcept

Original post by Quady

Easy way to fix that, just move to another £100k job outside of London, housing costs in Manchester/Liverpool are way lower, spendng half as much should get somewhere liveable.

Finacial advisors HATE him! Watch this guy solve all his financial problems by simply getting a job that pays £100k!

Reply 105

e aí rapaz

Original post by Reue

I suspect not. So we can conclude that a £100k salary isnt considered alot by children of parents who earn more than that. Compelling conclusions indeed.

PRSOM

Although this was clearly a troll thread from the start

Reply 106

Sam Walters

100k is a lot. After deductions that's probably around 66k.

The minimum wage puts you at around 1k a month. 5.5x less.

Reply 107

SmallDuck

Original post by Birkenhead

Perhaps you're thinking of Kentish town? £100k is definitely not enough for a 3 bedroom terraced house in Kensington.

No, I meant you would need to be on a £100k pa salary just to get a mortgage for a house in Kensington. Obvs such a house would cost more than £100k.

Reply 108

Quady

Original post by SmallDuck

No, I meant you would need to be on a £100k pa salary just to get a mortgage for a house in Kensington. Obvs such a house would cost more than £100k.

And the point back was £100k income wouldn't get you a mortgage on a house in Kensington.

Not unless you had over £1m deposit.

Reply 109

Birkenhead

Original post by SmallDuck

No, I meant you would need to be on a £100k pa salary just to get a mortgage for a house in Kensington. Obvs such a house would cost more than £100k.

I know that's what you meant. It's complete nonsense. You would need much more than that to get a three bed terraced Kensington house.

Reply 110

Observatory

In London this is not a lot of money, in my opinion. It will buy a QoL that is at, or below, that of a median salary in most other cities.

Reply 111

Quady

Original post by Observatory

In London this is not a lot of money, in my opinion. It will buy a QoL that is at, or below, that of a median salary in most other cities.

But given that 85%+ of people don't live in london, thats not all that relavent.

Reply 112

Observatory

Original post by Quady

But given that 85%+ of people don't live in london, thats not all that relavent.

True, but what % of people earning £100k+ don't live in London? In Yorkshire then, yes, £100k is going to give you a very high standard of living, if you can find such a job.

Reply 113

Quady

Original post by Observatory

True, but what % of people earning £100k+ don't live in London? In Yorkshire then, yes, £100k is going to give you a very high standard of living, if you can find such a job.

I dunno tbh, I'd guess about 70% aren't in London.

Eapecially since many live in Surrey etc and commute in.

Reply 114

DarkMagic

I would think that if you were earning £100k, you would get a few other perks along with that (eg company car/phone/laptop, paid expenses, maybe discounted gym membership, eye tests etc) so yeah, I'd say it's a good salary.

Posted from TSR Mobile

Reply 115

FVP

Original post by Quady

I dunno tbh, I'd guess about 70% aren't in London.

Eapecially since many live in Surrey etc and commute in.

I'd say that 90%+ of jobs that pay £100k are in or very close to London. Potentially even higher.

EDIT: If they're living in Surrey and their job is in London the job is still in London. Surrey isn't exactly cheap either.

(edited 9 years ago)

Reply 116

Quady

Original post by FVP

I thought there were quite a lot of doctors that don't live in London. Most people in oil are out of London, its hardly like even finance, law or the media are confided to London either. Let alone headteachers and architects.

No, but you can get a three bed semi for £320k in Woking, which wouldn't even stretch the budget of someone on £75k let alone £100k.

Reply 117

Rainbow Student

Considering the only employed person in my house gets about a tenth of that a year, I would say that is a ****ing lot! Even the Goverment say 70k is high band, and they're greedy af! XD But seriously though, come on, 100k a year for me, I'd be sorted for life!

Is this a troll thread?

Reply 118

lewif002

Depends entirely on situations.

Location: 100k in North is a lot more than it is in South East. 100k in London wouldn't even turn heads.

Job: 100k in law/engineering/doctoral rolls is likely. 100k in humanities is unlikely.

Children: if you have no children, 100k is lots of money in the pocket. 100k with 4 children is going to give you a set back.

So yeah, if you live in the North, Monday-Friday, with 1 child and earn £100,000. You have got some spare cash, a nice car and a nice bank balance.

However, if you're in London with 3 children, you'll be a lot more up against it.