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Would you say 40k a year is a good salary? What salary would you be happy with? Watch

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    (Original post by Paul McGann)
    What about 150k?
    Now we're talking :yes:
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    £40k before tax is a heck of a lot of money for one person to live off, regardless of where. However, if you want to live in a good-sized suburban detached house and have a family, send the kids to private schools and maintain a couple of nice cars and still have money spare to go on holiday, you'd need a reasonable bit more.

    Though if your spouse earns a similar amount, it wound't be too hard at all. Obviously luxuries increase with salary but 2 X £40k would be plenty for one household, especially seeing as neither earner breaks into the damn high tax band of 40%.
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    (Original post by Savahl)
    This. It has taken me 5yrs to achieve this sort of wage, and I dont know a single grad who earns this out of uni...my bro does now but that is 3 yrs further study after finishing his masters in maths
    I read it as wage at height of career rather than when you graduate personally.
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    If you're single, it ain't bad for starters. And at least you're not paying too much crazy tax...yet.
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    (Original post by DJkG.1)
    £40k before tax is a heck of a lot of money for one person to live off, regardless of where. However, if you want to live in a good-sized suburban detached house and have a family, send the kids to private schools and maintain a couple of nice cars and still have money spare to go on holiday, you'd need a reasonable bit more.

    Though if your spouse earns a similar amount, it wound't be too hard at all. Obviously luxuries increase with salary but 2 X £40k would be plenty for one household, especially seeing as neither earner breaks into the damn high tax band of 40%.
    Well, if you did break in to the tax band, you'd only be charged that on what you earned over the amount, so you'd still be better off. It's not like they tax all of your income at that rate.
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    £380k like those GP's that were on the news would do me nicely.

    Nah not really bothered, near £100k would be nice though.
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    No, unless it is first 2 years graduation sallary

    I will be aiming for the mils, though that may never happen
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    (Original post by PygmyShrew)
    Well, if you did break in to the tax band, you'd only be charged that on what you earned over the amount, so you'd still be better off. It's not like they tax all of your income at that rate.
    No but 2 X £40k is much more take-home income for a family than just one earner making £80k - that's the point I was trying to make lol.
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    I think I'd have to have a salary of at least 100K. It sounds greedy, but it's not because I'm some kind of money-whore, or because I have very expensive taste.

    My family were very strongly advising me to do Medicine, and I did Mathematics instead, and they aren't exactly overjoyed about it. Their main reason for suggesting Medicine was because of the high salary. So if, with a Mathematics degree, I can earn more than a doctor would, I'd sort of feel as though I had justified myslf in front of them, and on their own terms.
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    Outside london 40 k is enough. In london 40 k is very average. I need 65 to be happy.
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    I think some people here are too accustomed to there lavish lifestyles and really fail to understand money at all. 40k isn't a graduation salary as some think, and it's more than enough for those of us who aren't looking to send our children to private schools, own seven hundred and fifty four cars or own multiple houses.
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    Yes, living in central London wouldn't be easy, though.
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    40 k a year is good...
    Because you want a good career, but a life
    And family life...

    Hopefully my husband will earn more... :p:
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    40K wouldn't be enough to keep me in the lifestyle i'm accustomed to, but it's not a bad salary. I think i'd have to earn about 60-70K to have the life i'm used to, but I don't mind not earning that much as long as i'm happy.
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    (Original post by Gamer99)
    I think some people here are too accustomed to there lavish lifestyles and really fail to understand money at all. 40k isn't a graduation salary as some think, and it's more than enough for those of us who aren't looking to send our children to private schools, own seven hundred and fifty four cars or own multiple houses.
    For lawyers it is :p:
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    (Original post by Luca118)
    £380k like those GP's that were on the news would do me nicely.

    Nah not really bothered, near £100k would be nice though.
    True... But you know, unless a doc...
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    (Original post by tazarooni89)
    I think I'd have to have a salary of at least 100K. It sounds greedy, but it's not because I'm some kind of money-whore, or because I have very expensive taste.

    My family were very strongly advising me to do Medicine, and I did Mathematics instead, and they aren't exactly overjoyed about it. Their main reason for suggesting Medicine was because of the high salary. So if, with a Mathematics degree, I can earn more than a doctor would, I'd sort of feel as though I had justified myslf in front of them, and on their own terms.
    That doesn't sound strange to me at all because I have exactly the same feelings. My family were (and to an extent still are) placing a lot of pressure on me to do medicine to be able to have a comfortable life and earn a good salary.

    Now that I am applying for law, I feel like I have to be successful and not become just another second-rate solicitor as they will only lament the fact that I could have been in a much better position had I chosen to go down the medicine route. Big pressure.
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    (Original post by CyclopsRock)
    No one's said even close to that, have they?

    It's true that if you have a family with 2 or 3 kids living in London, £40k isn't going to leave tons spare for fun. A mortgage on a four or even three bedroom house will eat up a pretty big chunk of that, and with a big mortgage comes big risk - you'll need to put away some of that remainder to save with in case you ever lost your job and somehow have to raise £2k a month just to pay off the mortgage. For a single person it's plenty, but since the OP didn't specify a context, it's crazy to just unswervingly say "It's fantastic! Get real you idiots!"
    There are a lot of people saying 40K isn't a good salary on this thread, despite it being well over the national average of 20-25K.
    40K is more than enough for any single person to live comfortably off of.

    The OP said "would you say 40K a year is a good salary?" the answer to that is yes. For an individual, 40K is well over the national average.

    If the question was "can an average, 2.4 children family live off of 40K?" then your argument may have had a point.
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    (Original post by DJkG.1)
    No but 2 X £40k is much more take-home income for a family than just one earner making £80k - that's the point I was trying to make lol.
    Ah, I see! Good point.
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    (Original post by Gamer99)
    I think some people here are too accustomed to there lavish lifestyles and really fail to understand money at all. 40k isn't a graduation salary as some think, and it's more than enough for those of us who aren't looking to send our children to private schools, own seven hundred and fifty four cars or own multiple houses.
    If you're not going to live like that, then what's the point in living?!?!?! :eek3:
 
 
 
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