What's a good salary

Haircut said:
http://www.hmrc.gov.uk/stats/income_distribution/table3-2-jan08.xls

In 2005/06 the mean salary for someone aged 20-24 was £13,400 and the median was £12,200.

Also, £40K would put you almost in the top 10% of earners regardless of age.
http://www.hmrc.gov.uk/stats/income_distribution/table3-1-jan08.xls
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40k top 10%?! :eek: I certainly don't feel like I'm in the top 10% certainly not with the limit I have to buy things - I seem to spend my money on bills, and maintenance etc... I have to save up for a holiday, save up for servicing my car, and sometimes use my credit card (which I pay back instantly when I can) as things can get quite tight. I really don't understand how that's considered top 10%.

Then again a wage doesn't reflect your outgoings or your lifestyle. It's all very well and good earning 40k, but if you outgoings are close to your ingoings it's not going to be a comfortable life is it?

Maybe some people prefer a more lavish lifestyle?
 
KaHn said:
It's all that cheese :)

KaHn
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Hehe - no but I do spend a lot on good food (cheese has too much saturated fat, and though I love it I've pretty much cut it out of my life :( I'm into my gym and bodybuilding so it's a bit of a no no).

I just find London extremely expensive I guess.
 
One thing I have figured out in my few years in the "real world" is that no matter how much you earn or how much your salary increases, it's never enough.

I'd agree than £40k would be a "good" salary but after making lifestyle changes to adopt to it, £40k really isn't THAT much, especially if you live in the SE.

I reckon £75-80k in the south east would provide a very comfortable standard of living, give you plenty of money to live in a prestigious area, have a good car (possibly even your dream car within reason), plenty of holidays every year and a suitable surplus to stash away in savings for the future.

Some people might think that ludicrous but whilst £40-50k is an excellent salary, in the south east it's only enough to provide an average standard of living, especially if you're the only one bringing income to the household.
 
Scuzi said:
One thing I have figured out in my few years in the "real world" is that no matter how much you earn or how much your salary increases, it's never enough.

I'd agree than £40k would be a "good" salary but after making lifestyle changes to adopt to it, £40k really isn't THAT much, especially if you live in the SE.

I reckon £75-80k in the south east would provide a very comfortable standard of living, give you plenty of money to live in a prestigious area, have a good car (possibly even your dream car within reason), plenty of holidays every year and a suitable surplus to stash away in savings for the future.

Some people might think that ludicrous but whilst £40-50k is an excellent salary, in the south east it's only enough to provide an average standard of living, especially if you're the only one bringing income to the household.
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Tis true. I took £50k out this year and I'm skint.
 
Ah, I think that's where things differ from person to person.

I dont drive, and dont want a car, that in itself saves massive amounts.

Nice area to live in does me fine, no need to live in Kensington.

I want my partner to be earning as well, equality and all that.
 
Scuzi said:
One thing I have figured out in my few years in the "real world" is that no matter how much you earn or how much your salary increases, it's never enough.

I'd agree than £40k would be a "good" salary but after making lifestyle changes to adopt to it, £40k really isn't THAT much, especially if you live in the SE.

I reckon £75-80k in the south east would provide a very comfortable standard of living, give you plenty of money to live in a prestigious area, have a good car (possibly even your dream car within reason), plenty of holidays every year and a suitable surplus to stash away in savings for the future.

Some people might think that ludicrous but whilst £40-50k is an excellent salary, in the south east it's only enough to provide an average standard of living, especially if you're the only one bringing income to the household.
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Couldn't agree more. :)

doublehelix2 said:
100k of course. I think in most IT areas this is doable.
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IT has had it's time IMO, I don't think high earnings is that guaranteed anymore...
 
Freefaller said:
40k top 10%?! :eek: I certainly don't feel like I'm in the top 10% certainly not with the limit I have to buy things - I seem to spend my money on bills, and maintenance etc... I have to save up for a holiday, save up for servicing my car, and sometimes use my credit card (which I pay back instantly when I can) as things can get quite tight. I really don't understand how that's considered top 10%.
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Do you have a partner? Are they working?

£40k + £0k might not be much but two £40k incomes in the same household makes life pretty comfortable.
 
There's no guarantees in life, but certain areas of IT will always return high amounts if you can get into them properly.
 
As a student, i have roughly 25k income each year. The majority coming from my part time work.

I live in a nice area of Sheffield, run a car, eat out & drink when i want & have a good holiday once a year.

It's all relative to where you live, and what you want to do.

I dont have spare money, but i have 'enough'.

Obviously i would like more, but thats why i'm at uni now.

A few years after graduation i would ideally be making £30-£40k
 
Around Manchester I'd say around 30k is more than enough for comfy living. Like someone said before, OcUK doesn't really represent the population in terms of average salary. Of everyone I know, I can only think of 2 people that earn over 30k from where I live, I'd say the average is more like 15k.
 
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