What do you think is a good salary and why?

Just wondering...keep in mind bills,rent,needs and wants....

I think that it depends on many factors e.g. where you live (house prices and rent), burdens aka children they cost about £150000-250000 from 0-18 yrs about £8500(minimum) a year on average, lifestyle are you a party animal not a bad thing but in terms of expenditure about £20-35 a night, also bills do cost about £100-600 a month (utility incl broadband etc) also many other factors including how much you spend on fuel and car insuarance or gadgets e.g. tablets ,ipods or even spending money on holidays can be expensive too some are cheap e.g. £200 but some are like £2000 pp. what job you are doing is very important or business e.g. £30000 may be enough for a 18yr old who is a plumber for instance but like my father always said whats the point of earning 100k when your expenditure is like £1000000. For some people £30000 is enough but for other £100k is enough tbh I believe that £50000 and onwards is sufficient hope this helps

Reply 201

Hal.E.Lujah

19

When reading this thread I wish I had kept track of how much I thought was a good wage over the years so I could look back and laugh.

Reply 202

Bubzeh

3

It's all relative. It depends on where you're at and what you're doing in your life.

Right now for me an average / ok salary is 24k. A good one is 28-34k. A brilliant one is 35k+.

But that shifts once I'm on the good salary. Brilliant becomes good.

Reply 203

Juichiro

18

Original post by Manchar

I think that it depends on many factors e.g. where you live (house prices and rent), burdens aka children they cost about £150000-250000 from 0-18 yrs about £8500(minimum) a year on average, lifestyle are you a party animal not a bad thing but in terms of expenditure about £20-35 a night, also bills do cost about £100-600 a month (utility incl broadband etc) also many other factors including how much you spend on fuel and car insuarance or gadgets e.g. tablets ,ipods or even spending money on holidays can be expensive too some are cheap e.g. £200 but some are like £2000 pp. what job you are doing is very important or business e.g. £30000 may be enough for a 18yr old who is a plumber for instance but like my father always said whats the point of earning 100k when your expenditure is like £1000000. For some people £30000 is enough but for other £100k is enough tbh I believe that £50000 and onwards is sufficient hope this helps

Disagree, kids that become financially independent from the age of 18 are the exception. Normally, they become financially supported by the state for 3 years if they go to uni and then they are back to being dependent on you.

Reply 204

TolerantBeing

2

£30k +

The most important thing to me is security. Not having to worry about paying the bills, not having to worry if something happens to the car and you haven't got the money to pay for repairs etc. I hate money stress it really takes it toll.

Other than that I firmly believe that money does not buy happiness. Having lots of money would mean absolutely **** all if you hate your job, are in an unhappy relationship etc.

(edited 9 years ago)

Reply 205

Bethaaaaany

14

I think it massively depends on where you live in the UK. It's all down to cost of living. I've lived in one of the most expensive areas and now live in one of the cheapest.

My family have a better standard of living now than we did on double the amount when we lived in southern England. For example, I'm the oldest of four children and my dad is a student whilst my mum is a full-time carer for my brother and I'd say we're pretty comfortable which might not happen elsewhere in the UK.

In NI a good salary would be £30k whereas in London it could be £70-100k.

Reply 206

Reue

20

Original post by Hal.E.Lujah

When reading this thread I wish I had kept track of how much I thought was a good wage over the years so I could look back and laugh.

Great point.

Reply 207

Alfissti

20

Any salary is fine by me as I simply will adapt to it.

I started out my working life earning £36k per annum + company car and had a sign-on bonus as well as a 13th month bonus. That was in 2000. Was an excellent salary back then, home prices was starting to rise, I had fairly good amounts of savings as from age 18 onwards I had money coming from a trust fund. Also a good East Asian work ethic together with fairly good communication skills meant even as a 16 year old boy I had no problems finding work, whether it was mowing grass for a stately home, helping a landlady paint or fix up her property, working at a pub and later on at a new car dealer or simply tutoring I never had problems finding people to pay me. One interesting bit, in my younger days I never once asked someone who asked me to work for them how much I will be paid for doing a task and funny enough I always got paid far more than expected. Secret to it? I always went the extra mile as being at work meant less time at home, at home meant needing to take orders from the then SWMBO and look after little ones.

£36k when I first started out was more than enough for myself, the ex and 2 kids, I did buy a house which my late grandfather sold me for £70k, he simply gave me the title and told me to take my time to repay him.

These days if I have to live in UK at my rural Oxfordshire home, then I won't wake up for anything less than £120k per year requiring more than 60 hours of work per week.

Would I ever take a job like that? Last week an offer came for such a job and I turned it down. It was a good job no doubt but end of the day I prefer running my own business and make paying tax mostly "optional" :biggrin:

The other issue is the last time I took up a job my blood pressure, cholesterol, weight and temper went through the roof. Therefore it is better for me to be self-employed and issue paycheques to others :biggrin:

Original post by Rakas21

One imagines that most people getting such a property have a significant deposit rather than a 5-10% mortgage. Interesting question though.

In UK, if a home cost upwards of £600k usually you won't be able to get it at a 90% LTV let alone 95% usually it is closer to 60-70% and it is difficult to get it for 35 years as max you can go is 25 years and in many cases only 15 years if it is outside the usual property hot spots.

Original post by Birkenhead

I wonder what salary you'd need for a mortgage on a property in the millions

Upwards of £220k for a loan of £1m and your credit rating must be excellent as well as have relatively low debt-to-income ratio. One things for sure, you won't be able to walk in to your usual Barclay's branch and ask for that loan, it will take upwards of 4 months before a decision could be made and will have to be made by their main HQ rather than the usual Mortgage or Branch Manager.

Reply 208

kingm

10

Original post by Gadlad

Mate seriously,that is the most cliched phrase people are using these days!i hear 6-7 times in my school everyday!please at least think of something else to say.😜

lol

Reply 209

Manchar

Original post by Juichiro

Disagree, kids that become financially independent from the age of 18 are the exception. Normally, they become financially supported by the state for 3 years if they go to uni and then they are back to being dependent on you.

exactly this is a basic response which i did obviously you will can get financially stable by the age of 18 is fine and nothing to worry about but post 18 may be a bit of a headache

Reply 210

Planto

16

Original post by manchar

i think that it depends on many factors e.g. Where you live (house prices and rent), burdens aka children they cost about £150000-250000 from 0-18 yrs about £8500(minimum) a year on average, lifestyle are you a party animal not a bad thing but in terms of expenditure about £20-35 a night, also bills do cost about £100-600 a month (utility incl broadband etc) also many other factors including how much you spend on fuel and car insuarance or gadgets e.g. Tablets ,ipods or even spending money on holidays can be expensive too some are cheap e.g. £200 but some are like £2000 pp. What job you are doing is very important or business e.g. £30000 may be enough for a 18yr old who is a plumber for instance but like my father always said whats the point of earning 100k when your expenditure is like £1000000. For some people £30000 is enough but for other £100k is enough tbh i believe that £50000 and onwards is sufficient hope this helps

Sentences.

Reply 211

daydreamer93

8

Original post by Alfissti

Any salary is fine by me as I simply will adapt to it.

I started out my working life earning £36k per annum + company car and had a sign-on bonus as well as a 13th month bonus. That was in 2000. Was an excellent salary back then, home prices was starting to rise, I had fairly good amounts of savings as from age 18 onwards I had money coming from a trust fund.

What the hell was that job?

Reply 212

Grace by Yahweh

10

Original post by scrawlx101

Just wondering...keep in mind bills,rent,needs and wants....

Depends on so many factors like where abouts in the country you live and how far along you are in your career.

I'd say if you live in London you are going to need a £80k to own your own flat. But if you share a mortgage then it could be a lot less.

Out of London £45k might buy enable you to get a mortgage on a town flat or small house.

But starting out you are unlikely to get paid more than £21-£24k pa.

Reply 213

Black Cat

20

30k - 60k as a single person
60k - 100k combined as a couple

I'd be happy with anything between 20k - 30k to be honest money isn't my primary focus.

Reply 214

daydreamer93

8

Original post by Grace by Yahweh

Depends on so many factors like where abouts in the country you live and how far along you are in your career.

I'd say if you live in London you are going to need a £80k to own your own flat. But if you share a mortgage then it could be a lot less.

Out of London £45k might buy enable you to get a mortgage on a town flat or small house.

But starting out you are unlikely to get paid more than £21-£24k pa.

Owning a flat in a decent area in london will set you back atleast 200/300k, I want do this a couple years down the line by making money renting it to people.

Reply 215

Grace by Yahweh

10

Original post by daydreamer93

Owning a flat in a decent area in london will set you back atleast 200/300k, I want do this a couple years down the line by making money renting it to people.

Oh yeah, but you would need a decent £80k salary to get a £200k mortgage.

Good on you, hope you manage to do it! :smile:

Reply 216

Grace by Yahweh

10

Original post by Black Cat

30k - 60k as a single person
60k - 100k combined as a couple

I'd be happy with anything between 20k - 30k to be honest money isn't my primary focus.

Same, but you do need a certain amount of money to survive and be independent.

Reply 217

daydreamer93

8

Original post by Grace by Yahweh

Oh yeah, but you would need a decent £80k salary to get a £200k mortgage.

Good on you, hope you manage to do it! :smile:

That would be a dream or luck if that happened at my age, but I think working a decade of earning a salary around 30/40k will be enough, so around age 30 hopefully I will be looking to do this :s-smilie: