What's a good salary

Damien. said:
Some people see this differently.

I say the more i earn the better i am. At the end of the day my goal in life it to become successful and be the best at what i do.
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Of course people see things differently. It would be not fun if we all the same! :)

You say you measure yourself by what you earn yet you quantify it by saying your goal in life is to become successful and be the best at what you do. A big salary does not automatically mean you have achieved those, you could be mediocre in a well paid manual job for example
 
LordSplodge said:
Of course people see things differently. It would be not fun if we all the same! :)

You say you measure yourself by what you earn yet you quantify it by saying your goal in life is to become successful and be the best at what you do. A big salary does not automatically mean you have achieved those, you could be mediocre in a well paid manual job for example
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Let me rephrase.

I want to grow my business, to the point where i can live my life without having to worry about money. In my own eyes i would see that as being successful.
 
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KaHn said:
depending on how much offshore time I get maybe.

KaHn
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Not trying to catch you out, just thought I remembered you saying you earnt £34k after tax in that job description thread you created. Only remember because I'm interested in going into the oil exploration/extraction sector myself.
 
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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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Ah, but I think this just boils down to the assumption that if you are in the top 10%, you automatically feel like you should be 'rich'. Whereas in reality maybe it's a much smaller proportion than 10% who genuinely don't need to worry about money.

The reality is that for the vast majority of people, earnings are just a means of getting by and living a normal life, they leave little scope for true extravagance. It's also true that for younger people, they will be spending a lot of their money on things that either they don't have yet (houses, cars etc) or on socialising, so in some ways even relatively 'good' salaries get swallowed up for people in their 20s.

I earn more than double what I did three years ago, but due to changing circumstances (e.g. buying a house) it's not like I've drastically upped my spending on luxuries.

Depends a bit on spending habits too (obviously). I don't really worry that much about money on a day-to-day basis, but then I don't buy everything I want either.
 
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Morba said:
IT wages of 100k+ are only contract or very high up people in huge companies. most it people will not see above £45k a year imo.
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Maybe not in general, but (from what I'm lead to believe), £50k+ salaries including bonus aren't that uncommon for those in financial services. Although of course, one needs to take London weighting into consideration
 
jegz said:
If your earning your age in thousands your doing well.........which means i'm not lol! :p
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What if you are only 22 such as myself, i'd be damned if i could run a house and a car on that! I dont think that rule really applies nowadays.
 
A year or so back I had this formula in mind, it started off as age in thousands but I realised that that gave very high targets for school leavers yet relatively modest salaries for people in their 30s.

It then morphed into (age - 8)*1.5 which works a bit better I think, e.g:

16 = £12k (school leavers)
18 = £15k (bit more experience)
22 = £21k (fresh graduates)
26 = £27k (looking to buy a house)
30 = £33k (started a family)
36 = £42k (midlife crisis approaching, need to buy a porsche)
etc
 
Jez said:
What if you are only 22 such as myself, i'd be damned if i could run a house and a car on that! I dont think that rule really applies nowadays.
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Im 24 and on 21.5 which should go up pretty rapid.

I live comfortably and don't really have to worry about money, but... I don't own a car (nowhere to park it) and rent.
 
total family income < 20k this is topped up via the ever so nice system to near 30k = 2 bases inc 1 half a mile from the best beach break in the uk plus nice hillside location in Yorkshire plus new car ,why the hell should i aim for 50k have it all from a 3night week:)
 
Health is wealth my friends.....

Money will not make you happy. Having good experiences and living your life will make you happy and you don't need that much money to do it.

Now if only I could listen to that advice :(

I am 24 and I earn a decent amount but no matter how much I earn I wish it was more. But at the end of the day I am not that happy and all the money in the world couldn't change that, even though I think it will sometimes.

So what is a decent salary? For me I personally think it's a lifetime aim of 250k a year.

But a good one is 40k+.
 
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I have just finished my placement at a big consultancy firm. I was offered a grad position at 30K. I could apply for an Analyst role and take home £41K in my first year but generally you have to work a minimum of 50 hours a week. Together with travelling into London (another hour each way) along with working lunches, it can start to get depressing.
 
carvegio said:
Health is wealth my friends.....

Money will not make you happy. Having good experiences and living your life will make you happy and you don't need that much money to do it.
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Depends what experiences you want. I'm happy with the money I earn.

I can guarantee I'd be happier if I was pulling £100-200k a year!
 
triggerthat said:
I have just finished my placement at a big consultancy firm. I was offered a grad position at 30K. I could apply for an Analyst role and take home £41K in my first year but generally you have to work a minimum of 50 hours a week. Together with travelling into London (another hour each way) along with working lunches, it can start to get depressing.
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What analyst role was offered to newly grads? or are you on masters
 
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