How much annual salary is considered rich

Currently debating with myself about what career I want to go with. Going to do a levels in chem bio and maths, although I might swap bio for economics or something. My question is what careers will give me a considerable salary. Also, how much is considered rich? Is 30k a year a lot of money? 40k? Am I being naive thinking I could go into such a high paying career

Reply 1

GreenCub

You're rich when you have more money than you need.

Reply 2

SteveyStack

Original post by Anonymous02792

I would say those values are good wages but I don’t think anyone on them is rich as such. At such a wage you don’t have to be frightened about bills ect like if you are on minimum wage though

Reply 3

Anonymous02792

Original post by GreenCub

You're rich when you have more money than you need.

My question is what number is that at. I know it’s a vague question but I’m going along the lines of being able to pay all bills at ease, having a nice house and also being able to buy most luxuries ( such as nice TVs, a high end computer, expensive clothes etc)

Reply 4

Anonymous02792

Original post by SteveyStack

I would say those values are good wages but I don’t think anyone on them is rich as such. At such a wage you don’t have to be frightened about bills ect like if you are on minimum wage though

So at about 30k bills wouldn’t be a problem but would I also be comfortable buying common luxuries. Also, exactly how much would water, gas car finance, insurance and all that add up to yearly? Just an average number of all bills ?

Reply 5

mnot

Universities Forum Helper

Original post by Anonymous02792

too rich 😂
the people who make mad mad money, normally make it through starting a business or investments, meaning its not actually salary that makes them the money.

But you can look way higher than that, its not uncommon for big corporate companies pay £60-80K, management £100K+, exec can make £200K+ but obviously the higher the salary the harder it is to get (generally speaking)

Reply 6

Drewski

Original post by Anonymous02792

Nobody can tell you.

Depends on where you live, how you live, what you eat, what you like doing, etc etc etc.

You want us to just tell you how much things cost? That's not how it works

Reply 7

Anonymous02792

Original post by Drewski

Nobody can tell you.

Depends on where you live, how you live, what you eat, what you like doing, etc etc etc.

You want us to just tell you how much things cost? That's not how it works

Ok dumb question on my part, how about this one? In the uk, living in a house which you own which bills do you have to pay

Reply 8

MaxiG

Original post by Anonymous02792

Ok dumb question on my part, how about this one? In the uk, living in a house which you own which bills do you have to pay

Rent/Mortgage payments, gas, electricity, water, home insurance, council tax. Then think about food bills, and car lease & insurance, and that'll be most of your expenses.

Edit: Also if you come up with a figure for how much you think all of that will cost you, make sure to compare it to your salary after tax. So a salary of 30k will give you 24k to take home, so if your bills cost maybe 15k then then you will have 9k for everything else.

(edited 4 years ago)

Reply 9

emily226

Original post by Anonymous02792

I am also facing the same situation, but I cope up with the expenses for home insurance, which might lend me at hand at times when there is a problem for my home. Better you too insure yours.

Reply 10

Anonymous02792

Original post by emily226

I am also facing the same situation, but I cope up with the expenses for home insurance, which might lend me at hand at times when there is a problem for my home. Better you too insure yours.

No I’m 16 lol , just curious about the future

Reply 11

ebam_uk

300k+ per year is rich!

Reply 12

adam277

Depends on your needs. Go to a rural village in China and £10 A week would be a comfortable income.
Take that £10 to a place like Hull and you'd be like a millionaire. :tongue: