Is 100k a large salary?

[bigmike20vt]

of course it is!. and if you earn that and are struggling then you need to learn to cut your cloth better imo.... but isnt there exactly this thread somewhere possibly even with the same poster in it?
I live on the outskirts of one of the most expensive cities in the country, have a child and my wife and Is combined income is less than 100K and I consider ourselves fortunate.

Admittedly i could not afford to buy a house in Cambridge, but like i said, you cut your cloth accordingly.

now IF the question was is £100k a large household income for a family with kids............ then the answer is slightly different. Even then it is still decent, tho if you simply insist on living in london or an expensive city or some postcard like country village and wont move to cheaper areas then i can see how that would be a challenge then.

The age of 1 parent being a bread winner and the other being a house tender/child carer are over however for most people. If most people want to be more well off then both parents need to work. its much better for tax reasons as well.

 

[Tom_ed1987]

Yes it's a large salary.
But also yes the tax traps & loss of benefits for parents are very unfair & do crush ambition/lead to much tax avoidance via salary sacrifice/pension payments etc.

 

[Brando]

Not any more, no. £100-125K is no man's land in the UK tax situ.

 

[jeffk]

Is £100K a high salary? Yes.

Can that salary comfortably pay the rent/mortgage on a modest house in large swathes of Surrey when you have kids? Probably not. I’m not sure you’d even get a mortgage on a £650k property with that salary unless you had a significant deposit.

The problem isn’t the salary. The problem is the utterly broken housing market that the government doesn’t want to fix.

 

[dlockers]

Yeah well that's a house price issue, doesn't mean the salary still isn't massive in comparison to other salaries.

OK but then your argument is that £100k is a large number without any context, which is a pretty flawed perspective.

 

[413x]

I'd agree it's not mega. Like you're not swanning around for months or the year abroad and driving a super car if you live in a pricey area, have kids, 1 income household.

And to be wealthy should mean you can afford all that.

But if you can manage that then it's a good/large salary.

 

[slinxy]

It means you'll be wealthy. But you might not have access to that wealth now.

Not really if you have million pound mortgage, leases on cars.. and other high end expenses..

Wealth is the amount of funds you accumulate in savings, stocks, shares and pension.. etc..

 

[413x]

OK but then your argument is that £100k is a large number without any context, which is a pretty flawed perspective.

I would say it's large regardless of context myself.
Its not massive. But it is large/big.

 

[dirtychinchilla]

It's absolutely huge salary from any objective perspective.

Yes it may not feel huge if you've expanded your lifestyle to suit, but that's not the point.

That's not logical. It depends entirely on where you live, which has been proven in this thread.

 

[413x]

Not really if you have million pound mortgage, leases on cars.. and other high end expenses..

Wealth is the amount of funds you accumulate in savings, stocks, shares and pension.. etc..

But if you have those high expenses of lease cars etc that's very much a choice.
And you've been granted a lease because the lender assess you can afford it.

You'd have to make poor life choices to not end up wealthy on 100k

 

[ci_newman]

@danlightbulb I'm sure they'd love a property for 250k that was fit for purpose, good luck raising a family in a 1bed flat though. Also the childcare issue the article references seems to be another thing conveniently forgotten about.

Try £300k for a 1-bed flat with 55sqm and that's not even in London - https://www.rightmove.co.uk/properties/144130901#/?channel=RES_BUY

For a 3-bed where you could raise children you're looking at closer to £400k just to start - https://www.rightmove.co.uk/properties/145765142#/?channel=RES_BUY

That ignores the obscene costs of childcare too in the region too.

 

[bigmike20vt]

if you are single then 100k salary would enable you to get a decent flat in most places...... i dare say with that salary you could work anywhere in the country and be able to afford a flat within commuter distance of where you work.
owning a large house as a single person is a choice and if you want to push yourelf to the limit to do it that is great - its a good investment in your future - but dont then whine that you are skint after paying your bills - or do what i did after my divorce and rent a room out. (the numbers may have changed but you used to be able to earn £4000 a year off rent - excluding bills - without even needing to tell the tax man so long as you lived at the property as well).


if you are not single then it isnt just on you, it is on your partner to also get a job as well.....

that said the housing market IS knackered. we need more builds and less NIMBYism. (and infrastructure needs to go in to support said new builds as well)

 

[Richie]

If they changed the childcare benefit to grant it to people on £100k, would this then mean the £100k salary in Surrey would be a good salary or would it still remain "not a huge salary"?

 

[danlightbulb]

@danlightbulb I'm sure they'd love a property for 250k that was fit for purpose, good luck raising a family in a 1bed flat though. Also the childcare issue the article references seems to be another thing conveniently forgotten about.

The question was is £100k a large salary.

Yes it is. It's in the top 1% according to here:

Your household's income : Where do you fit in? | Institute for Fiscal Studies

When you think about your income, do you feel rich, poor, or just plain average? Find out where you lie in the UK income distribution.

ifs.org.uk

The fact 100k doesn't get you much house in a specific place in the South East doesn't make the salary any less large comparatively speaking.

A £30k salary won't get you much in Birmingham either where house prices are 3x lower on average.

House prices are screwed, no one's arguing they aren't. But £100k is a very very good salary, not many jobs will pay that it's rare as can be seen by the numbers.

 

[Diddums]

Why is this joker constantly banging on about his made up £100k+ pa salary?

The vibes I get off him aren't exactly "I earn £100k", more "would you like fries with that?".

 

[bigmike20vt]

Not really if you have million pound mortgage, leases on cars.. and other high end expenses..

are you trolling with that comment? if you have all those things then that surely is the definition of leading not just a wealthy lifestyle but a rich persons lifestyle.

 

[aspiring]

Be fair, that's not what he said, he said it's not a large salary for Surrey. What you said sounds ludicrous, what he actually said isn't. But don't let the full context of what someone says get in the way of political point scoring.

Example - 2 pretty bog standard ex-council 3 bed semis in Durham vs Surrey:

Check out this 3 bedroom semi-detached house for sale on Rightmove

3 bedroom semi-detached house for sale in Newlands Road, Carrville, Durham, DH1 for £195,000. Marketed by Robinsons, Durham

www.rightmove.co.uk

Check out this 3 bedroom house for sale on Rightmove

3 bedroom house for sale in Cheyne Walk, Horley, Surrey, RH6 for £425,000. Marketed by Mayhew Estates, Horley

www.rightmove.co.uk

If we're talking about Godalming

Check out this 3 bedroom semi-detached house for sale on Rightmove

3 bedroom semi-detached house for sale in Miltons Crescent, Godalming, GU7 for £575,000. Marketed by Purplebricks, covering Guildford

www.rightmove.co.uk

Avg wage in surrey is 42k..

 

[danlightbulb]

That's not logical. It depends entirely on where you live, which has been proven in this thread.

So everyone in Surrey earns £100k do they?

Buying a house is expensive these days, very expensive relative to earnings no matter where you are in the country.

That doesn't make a top 1% salary not large. Top 1% by definition is quite rare.

Also a top 1% salary would be nowhere near top 1% wealth I imagine, very different things.

 

[SPG]

Yes its a large Salary

 

[danlightbulb]

OK but then your argument is that £100k is a large number without any context, which is a pretty flawed perspective.

The context is the salaries of everyone else in the UK, or more localised if you want to dig deeper.

Your logic would say a 10" penis is not large because 1% of men have them.