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What is a decent salary? watch

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    30k would be sufficient.
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    I dont know about you guys but my dad earns 7k a year ( real less i know) and he manages to pay a morgage pay for the insurance of 2 cars, (he owns one) , and also manages to feed 3 teens. We even go abroad once a year. We live in england so we get benefits and such but still
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    (Original post by Zahid~)
    I dont know about you guys but my dad earns 7k a year ( real less i know) and he manages to pay a morgage pay for the insurance of 2 cars, (he owns one) , and also manages to feed 3 teens. We even go abroad once a year. We live in england so we get benefits and such but still
    How is that possible? Thats less than mininum wage.

    What does he work as?

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    (Original post by Zahid~)
    so we get benefits and such but still
    Then its not a decent salary. Not having a bash at people on benefits in any way, just that if your salary is not enough to support you and you need to rely on benefits then your salary isn't at a 'decent' level.
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    (Original post by Anwenfields)
    Wow...
    I'm shocked by some of the figures on this page. Then again, I'd be willing to bet that the people with the most ridiculous numbers have never lived independently.
    Minimum wage is more than enough, especially if you have no dependants - hell my sister and her financé both earn just over minimum wage combined, and they have a baby for goodness sake!

    It's not about how much you earn, it's about how you treat your money; eat cost effectively, pay for things annually (avoid interests) and don't make stupid decisions! It's not hard, really.

    And I thought students were supposed to be intelligent...


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    Students are also middle class. They will not be thinking of a council flat, they will be envisaging a nice flat in a newish block, likley the sort of thing which costs about 550/600 a month in Manchester/Leeds, 700 in Bristol/Birmingham and 15-1600 in London. Ditto with cars, nights out etc.

    If you've grown up in a certain way, being used to certain things and spending certain amounts there is an assumption you will somehow get one of those few grad jobs which pay 25k in the regions or 40k in London and allow you to live that sort of lifestyle from the gun, not work towards it.
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    £30k is a decent amount I'd say.

    Some jobs will pay more, but they'll consume your life. As long as you're not living in London, £30k is more than enough to have a decent life and probably even a family too if your partner works. Interestingly enough, studies have shown that the happiness gained per each £1k in salary starts to plateau at around £40k.
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    (Original post by 2710)
    How is that possible? Thats less than mininum wage.

    What does he work as?

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    Taxi :3
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    (Original post by Zahid~)
    I dont know about you guys but my dad earns 7k a year ( real less i know) and he manages to pay a morgage pay for the insurance of 2 cars, (he owns one) , and also manages to feed 3 teens. We even go abroad once a year. We live in england so we get benefits and such but still
    Benefits must be making up a significant chunk of that.

    Assuming a 3 bed house that's going to be at least 400 a month pretty much anywhere, that's 4800 off the bat, filling up even a small car now costs 25-30 quid, even at once a month that's still 600 quid a year plus insurance, plus tax. There's no way you could pay for food and bills out of the remaining grand or slightly more.
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    I won't work for anyone or any company full time unless it paid between £60-90k per year tax free.
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    (Original post by River85)
    To be fair it is possible to voluntarily pay NI contributions when working abroad. Otherwise, if intending to return for just 10 or 20 years, he might well find he doesn't qualify for a state pension. Or at least the maximum state pension. Or if he needs to return to the UK earlier than expected, and claim certain benefits such as (what is now) JSA or ESA, he won't be entitled to them.

    If he's smart this is what he'll do.
    Hmmm I never considered that. That is definitely something I will look into if i go ahead with working abroad. Thanks for that very useful insight.
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    (Original post by Alfissti)
    I won't work for anyone or any company full time unless it paid between £60-90k per year tax free.
    So you wouldn't work for a company that paid £500k per year? That seems bizarre.
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    (Original post by Forum User)
    So you wouldn't work for a company that paid £500k per year? That seems bizarre.
    I know my capabilities and I know I'm not worth that kind of salary
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    Depends how you define "comfortable". On £21k you could live reasonably well if you house share. You might not be able to afford all the luxuries you want, but it's enough to go out every now and then and buy the odd entertainment product. Living on your own with that is doable, but you'd have to cut back even more.

    From experience, I'd say £25k is decent even if you're living alone outside of London.
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    (Original post by TimmonaPortella)
    Didn't I answer this already...?
    Yep, delayed double post :yay:

    The issue is though demand is inflated. If demand is so high, who will do the minimum wage jobs? If you've been to London the only people who do are immigrants because they can then convert the money to a different currency when they leave.
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    (Original post by River85)
    I'm not denying they will be low by London/southern standards. I'm just illustrating that there is variation across the country. Admittedly that wasn't clear in my post, but I intended it to be.

    And there can still be a plentiful supply of jobs in the north. It just varies hugely by sector. I'm looking at entering the charity sector and so many head offices of national charities are in or around London.

    Generally speaking there'll never be as many as there are in and around London. But ultimately so many want to live in London, though not necessarily elsewhere in the south, so opportunities exist.

    Aberdeen has its oil industry (and probably some high living costs), Newcastle and Sunderland have a decent IT and off-shore engineering opportunities (and even non-graduate roles, such as call centres and sales, aren't difficult to find and still provide a comfortable enough salary). Newcastle is not too bad for the heritage sector and arts either (even if not London standards). Liverpool too. Leeds has a strong legal and financial sector. Manchester's a big city...

    But see my post above about how easy it can be for someone to leave what's still a relatively comfortable life on 20k in Newcastle, and a good number of other northern cities, I wager.



    Absolutely. as mentioned I'm looking to enter the charity sector. One of my recent interviews was for an educational and employment charity in North Kensington. The salary was 18k. I'm well aware that living on 18k,even in (and around) a relatively deprived part of Kensington/London, would have been a struggle.



    Meh, my brother probably earned a little over 30k when first moving to London (now probably earns 50k). He certainly had a comfortable enough life. Saved enough money to travel and go to music festivals, as well as save (and eventually got himself on the property ladder by getting one of those flats you part buy and then rent out another room to cover the rest of the mortgage).

    Admittedly he did have some savings from when he worked in Manchester for a couple of years beforehand, and perhaps when he was working while doing his degree in Sheffield. But I don't think a huge amount. Besides, he did a lot of travelling and socialising, and continues to do so.

    He could be living up north and, if not quite earning as much, for are still opportunities. He's a Java Developer and on Tyneside we do have success stories such as Sage who were recruiting and offering the same starting salaries as some of those in London.
    Hell yeah across the country there is huge variation. In an ideal world you want to work up North with the pay of the South. With regards to work though, the majority is down south. For example, Reading has more IT jobs than Newcastle and Liverpool combined. In Newcastle I certainly would think 20k would probably equate to around 26-7k down South.
    It sounds like your brother probably had quite a lot of savings, or was living in shared accommodation. Living on your own will easily cost you around £800 a month in London for somewhere which isn't a "studio" aka a dive.
    I've been to Newcastle before and really enjoyed the city. It'd be nice if jobs were more evenly spread out in the UK rather than being centred around London.
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    30k
    Although I guess it depends on whereabouts you live (I would assume it would be a lot higher if you lived in London)
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    (Original post by Llewellyn_J)
    Hmmm I never considered that. That is definitely something I will look into if i go ahead with working abroad. Thanks for that very useful insight.
    No problem. This is the link if you haven't seen it

    http://www.hmrc.gov.uk/ni/volcontr/abroad.htm#4

    Can't say I'm an expert, I just would have thought it was possible, otherwise how are those people who do spend most of their working lives abroad able to return to the UK and claim a state pension. I also thought I could recall hearing about it a while ago so googled it to check, then made that earlier post.

    It might mean only protect your protection to certain benefits, but should count toward your state pension.

    (Original post by geoking)
    Hell yeah across the country there is huge variation. In an ideal world you want to work up North with the pay of the South. With regards to work though, the majority is down south. For example, Reading has more IT jobs than Newcastle and Liverpool combined. In Newcastle I certainly would think 20k would probably equate to around 26-7k down South.
    It sounds like your brother probably had quite a lot of savings, or was living in shared accommodation. Living on your own will easily cost you around £800 a month in London for somewhere which isn't a "studio" aka a dive.
    I've been to Newcastle before and really enjoyed the city. It'd be nice if jobs were more evenly spread out in the UK rather than being centred around London.
    Yes, it was shared accommodation in Leytonstone then in/around Wapping. Never Central London.

    I didn't meant to suggest it wasn't shared accommodation in that reply (or the earlier one) I specifically mentioned 30k (or even a little under) being possible in shared accommodation. Besides, I think most people in their 20s prefer to live in shared accommodation. It was only once he hit 30 he bought his first property and (sort of) lived alone.

    I do think he had quite a bit in savings, yes, but I don't think this is relevant as he didn't necessarily use this to support himself in London as far as I'm aware. Although it obviously gave added financial security should he need to. It was only when he bought his flat (where some of it went on the deposit, solicitor costs...those sorts of things you expect to pay when buying property). Plus, as mentioned, he would spend money travelling and probably went out more than the OP seems to suggest he/she would expect as a minimum. Plus was able to add even more to his savings from his salary in London.

    I think I could have managed on 18k in or around North Kensington, but certainly not having the life the OP wants. Still a comfortable enough one, though, considering I wouldn't pay public transport, or at least bus, fare. But I'm special :proud:

    As for comparing Reading and Liverpool/Newcastle I have no doubt this is true. But equally the population can be larger. Tyne and Wear Metropolitan area is about 1.2 million and Merseyside under 900,000*. Berkshire alone is over 800,000, then you can perhaps add some of London and other areas.

    Especially Tyne and Wear, which is one of the country's largest metropolitan areas in the middle of a quite large rural/semi-rural area between Yorkshire (which I include Middlesbrough in) and Edinburgh. Yes, Eastern County Durham can be quite urban, but obviously not comparable to Greater Manchester and some other built up areas in the north west. And, without offending those from Tyne and Wear, a good number of those 1.2 million people will not have the right experience or level of qualifications for jobs, so competition can be easier.

    Not that I'm saying the jobs situation is fantastic in the NE. I've already mentioned the charity sector (20 vacancies in the entire NE compared to, say, 400 London). Every graduate vacancy appears to be in IT/Software and Engineering. Then the occasional HR or Recruitment Consultant. The only big graduate schemes that will possibly post someone to the NE will be one likes Procter and Gamble or the NHS.

    *Yes, I did compare Merseyside against Tyne and Wear (instead of just Tyneside) in order to enrage the Scousers and make Newcastle look larger :p: Tyneside and Merseyside are comparable (800,000 or more).

    Epic reply that actually says very little :cool:
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    (Original post by geoking)
    As soon as you can show me how living on minimum wage in London is possible I'll retract what I said. I won't hold my breath.
    This really gets to me.
    You dont have to be earning 50k a year to 'live'.
    Is it not evident enough that there are thousands of families in london living on minimun wage?!

    To 'live' is different from 'I want to have the best in the world and will refuse any job offer less than 50k, because I'm a spoilt brat and want the best of everything but wont appreciate any of it'

    To live is having a roof over your head, enough food in the house to eat and enough to pay the bills. Get the things you NEED, not want.

    I have no problems financially and minimum wage doesnt apply to me, but I grew up in a home were a single mother was raising two girls and working all the hours she could for ****ty money, she always owned her own home, paid all the bills and we always had enough food in our kitchen, so what we didnt have every new pair of shoes that where out or didnt get to spend stupid amounts of money on weekend treats, but we were able to live.

    Now of my own back I am far from that life style and I have a really good life now financially and I can afford what ever I want without budgeting or even thinking about the cost, BUT the difference is I appreciate everything!!

    I think a lot of you on here comenting with anything over like 35-40k have clearly come from well of background or a a very comfortable financial background, so you have no idea how it is for working class/ 2nd class people to actually get by.
    Your talking about salaries that will allow you to have 2 holidays a year, the newest mobile phone, sky boxes in every room, nights out in clubs where one drink 8quid.
    and I am also guessing that most of you dont live on your own or have to be financially independant, for all of you that are at college and uni I suggest you have a reality check, just because your getting a degree, that doesnt mean **** in the real world!

    Like I said I live a very comfortable life, and I am more than secure in the finance department but to live is different from you guys talking about.
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    (Original post by Le Nombre)
    Benefits must be making up a significant chunk of that.

    Assuming a 3 bed house that's going to be at least 400 a month pretty much anywhere, that's 4800 off the bat, filling up even a small car now costs 25-30 quid, even at once a month that's still 600 quid a year plus insurance, plus tax. There's no way you could pay for food and bills out of the remaining grand or slightly more.
    He said the house is mortgaged. So it depends on how much the deposit was and how much he got from the lender.

    My 3 bedroom house with garage, front and back garden - In a very nice area (which is non council) Cost 318 a month for our mortgage, because we had a good deposit to put down so didnt have to lend very much from the mortgage company.
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    (Original post by johnsamuels)
    I know the word "decent" can be subjective. But for a single ADULT male to live comfortably, this means, tv, internet computer, mobile, decent housing, a small car, a night out once in a while, etc.. What would be a decent salary.
    I am guessing 21k a year?
    Depends of you own or rent, probably. Renting on your own and you're looking at 30k.

    Owning a house and looking for a good pension, more like 35k.

    Most people spend whatever they earn, though, and everyone will have a different answer.

    I earn £25k, rent and live with another to have those things and still save for other stuff I'd be after a 10k rise, probably.


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