What do you think is a good salary and why? Watch

peaaceandl0ve
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#181
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#181
I'd be over the moon with anything over £25k

I've been brought up in a household earning around that much per year, and I'd say we're fairly well-off. Obviouly I have friends who have much bigger houses and go on holiday on the time, but I'm really happy with out situation. My parents are just very very good at budgeting, and don't waste money - buying from charity shops, own brands and farmers markets, often going on UK-based holidays, scarcely going for meals out, making the best use of reduced price food, maintaining the house well themselves, not buying unnecessary things (we only have one laptop and one telly between the four of us) - we look after our home well and it does look fairly smart inside, so I think people often think we're better off than we are
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Guills on wheels
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#182
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#182
(Original post by SophieSmall)
Aye it's always better to over budget so that you at least have money to fall back on, but even still 50 is a lot.
Maybe. But it's nice to eat nicely (if you can) sometimes.
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SophieSmall
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#183
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#183
(Original post by Guills on wheels)
Maybe. But it's nice to eat nicely (if you can) sometimes.
You don't need 50 a week as a single person to eat nicely. :P

this is my budget in comparison to how nicely I eat.

£10 a week (if struggling for money) eat nice enough food but fairly repetitive and little to no snacking or eating out

£15 a week, quite typical for me, variety of foods really quite yummy, snacking but i make my own snack, but no meals or food out (i dont generally like to anyway)

£20 a week, same as £15 but i can also buy pre made snacks and treats and get maybe sonething while out

£30 a week, never spent this much, the only thing that would really change is the amount of food i'd buy but i already eat loads, i even gained weight

£40-50 a week to ridiculous to even think of unless i went out to a restaurant that week
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rumana101
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#184
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#184
40-100K
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Guills on wheels
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#185
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#185
(Original post by SophieSmall)
You don't need 50 a week as a single person to eat nicely. :P

this is my budget in comparison to how nicely I eat.

£10 a week (if struggling for money) eat nice enough food but fairly repetitive and little to no snacking or eating out

£15 a week, quite typical for me, variety of foods really quite yummy, snacking but i make my own snack, but no meals or food out (i dont generally like to anyway)

£20 a week, same as £15 but i can also buy pre made snacks and treats and get maybe sonething while out

£30 a week, never spent this much, the only thing that would really change is the amount of food i'd buy but i already eat loads, i even gained weight

£40-50 a week to ridiculous to even think of unless i went out to a restaurant that week
let's not forget, you do live in the north; things are cheaper.
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ckfeister
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#186
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#186
I would say 30k a year, because it's quiet a bit and bills don't go high if you don#t go in debit.
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Noble.
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#187
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#187
(Original post by SophieSmall)
You don't need 50 a week as a single person to eat nicely. :P

this is my budget in comparison to how nicely I eat.

£10 a week (if struggling for money) eat nice enough food but fairly repetitive and little to no snacking or eating out

£15 a week, quite typical for me, variety of foods really quite yummy, snacking but i make my own snack, but no meals or food out (i dont generally like to anyway)

£20 a week, same as £15 but i can also buy pre made snacks and treats and get maybe sonething while out

£30 a week, never spent this much, the only thing that would really change is the amount of food i'd buy but i already eat loads, i even gained weight

£40-50 a week to ridiculous to even think of unless i went out to a restaurant that week
I don't even remember the last time a restaurant bill came to less than £50, never mind combined with the weekly food shopping :ashamed2:
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SophieSmall
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#188
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#188
(Original post by Guills on wheels)
let's not forget, you do live in the north; things are cheaper.
i know things like rent and pubs are more expensive down south but i though chain supermarket food would be the same.
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SophieSmall
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#189
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#189
(Original post by Noble.)
I don't even remember the last time a restaurant bill came to less than £50, never mind combined with the weekly food shopping :ashamed2:
is that just paying for your own food? :0 baring in mind i wasnt counting drinks, i have a seperate budget for alcohol. Then if i go out to dinner its usually a pub dinner or a chinese, prefer the atmosphere to them than fine dining
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Ryan_Anthony_
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#190
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#190
I rent a new flat in the centre of Southampton, Finance a Golf R and pay all my bills with extra to spare on £23K a year, Technically the "Ideal Salary" is one you can live comfortably off of.
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Hydromancer
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#191
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#191
Hmm really interesting question. I suppose it is to some extent commensurate to the amount of work you do?. Personally, for my first job (foundation doctor), I would be getting 22.6k which is good according to most people's standards. What this means is that I'd be working 48 hours a week (in reality I expect to spend more time than this working unpaid in the hospital) for 52 weeks at a bit less than £9 an hour. After about 10 years post graduation, provided I pass expensive examination, am able to secure a training posts against tough competition (in some cases as high as 10 to 1) every few years, do skills courses, potentially do a higher research degree, annual reviews of competence, weekly portfolio entries of skills and procedures, I will be working at 70k at the peak of my career progression. This is plenty for living on and really to meet my needs but I reckon it's fair for the work I have to put in.

What I'm trying to get at is that the definition of a good salary is variable. For an investment banker getting 70k and hitting a glass ceiling in their mid 30s may not be so good whereas for say for someone working 30 hours a week for this salary, this might be a great outcome.
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Guills on wheels
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#192
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#192
(Original post by SophieSmall)
i know things like rent and pubs are more expensive down south but i though chain supermarket food would be the same.
yeah… ish.

mostly.
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OutAtStarlight
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#193
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#193
Starting out (as in, just left uni) I think a good salary for me would be around the £15,000 point. I'd try and budget reasonably well, ensuring I still had money left to save up for the future.

Apparently in my chosen career, my salary could peak at £40,000 (and possibly more), which I would be so happy with. So, £40,000 is my goal. Realistically, a 'good' salary to me is £25,000-£30,000. I think I could live comfortably enough on this; pay for bills, rent, food etc and still have money left over to save up (I'm all for saving up money for the future :P)
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iPixelBlue
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#194
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#194
Above 120K is considered pretty dammm good IMO. Anything below that is not THAT special, but hey I live in London (outskirts) so it depends...
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Sam Walters
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#195
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#195
(Original post by UniMastermindBOSS)
To live on your own I would say 25k minimum, and a good wage is around 40-60k
Its possible on half that. Been there. Done that. Still rolled around in a performance car that did 17mpg. Went out most weekends.

Its doable.
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Ronove
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#196
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#196
(Original post by SophieSmall)
You don't need 50 a week as a single person to eat nicely. :P

this is my budget in comparison to how nicely I eat.

£10 a week (if struggling for money) eat nice enough food but fairly repetitive and little to no snacking or eating out

£15 a week, quite typical for me, variety of foods really quite yummy, snacking but i make my own snack, but no meals or food out (i dont generally like to anyway)

£20 a week, same as £15 but i can also buy pre made snacks and treats and get maybe sonething while out

£30 a week, never spent this much, the only thing that would really change is the amount of food i'd buy but i already eat loads, i even gained weight

£40-50 a week to ridiculous to even think of unless i went out to a restaurant that week
How often do you get 5 portions of fruit and veg in a day? How often do you get 50g of whole grains in a day? I'm guessing your 29p pasta isn't wholegrain?
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SophieSmall
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#197
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#197
(Original post by Ronove)
How often do you get 5 portions of fruit and veg in a day? How often do you get 50g of whole grains in a day? I'm guessing your 29p pasta isn't wholegrain?
Well I eat A LOT of vegetables and fruit, so for the first question I'll say every day. As for whole grains, I don't know can't say I've ever kept track of my whole grain intake. Nope the 29p pasta isn't whole grain, but you can get cheap whole grain versions, though they're not quite as cheap still under £1
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TenOfThem
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#198
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#198
(Original post by Balloon Baboon)
I didn't see this before. A mortgage payment of £1,000 a month?? What are you living in a mansion?
Are you joking

£1000 gets you a 25 yr mortgage on a £160k loan

I do not live in London and, for a family size home this would be the minimum price
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Viva Emptiness
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#199
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#199
I am still laughing at that £250k one.
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Princepieman
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#200
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#200
I'm so done with these threads..

Usual script:
Normal estimate.
Ambitious estimate.
Someone dismissing said estimate.
Massive argument about how unattainable the ambitious estimate is.
Repeat.

I'll just plop in that as long as I beat my dad i'm good to go: he was on £160k before he passed away.

Preferably, i 'd like to end up in the mid-high six figures or more but that won't be for a while. I'm looking into eithet consulting, banking (PE afterwards) or algo trading/oil trading. From prior research and speaking with people in the aforementioned fields, my goal seems reasonable.

Albeit, my true goal is to become an entrepreneur - hopefully working on a leading future technology (e.g. full immersion VR ala Sword Art Online, nanobots, brain computer interfaces etc.) Let's just say I'd be worrying more about my next yacht than my salary if I am successful!

Posted from One Plus One
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