The salary question?

[kai]

Seen a few posts recently over the last few days about members posting salaries, take home, annual incomes, investments etc. A friend started a new job last week and during a load of us catching up on the weekend via Zoom, the first question he got asked by a friend was “so, how much are you making, then!”.

The question, changed the tone of the call among the group. I have friends who are very open and honest about it while others hold it as a guarded secret and go into shut down mode.

Talking about salary-related finances is awkward. I always consider this almost taboo and tend to avoid the question other than saying the market average.

How open are you with friends and I guess family members about your take-home salary? Do you know how much your siblings earn etc?

 

[kai]

My forum question is still going strong. As first suspected its a question that divides opinion.

I don't know how anyone works 12+ hour days in a job that requires you to be mentally focused. I have to do a fair bit of reading and processing of information in my role and I'm pretty much done after 6.

Not surprised people are smashing the bevvies in every evening!

I would say i average 12 hours a day in a demanding role. If you LOVE what you do as a job you do not tend to notice the extra hours.

 

[kai]

So you are in the top 1 to 2% earners in the UK and even you don;t feel "rich". Amazing isnt it?

It was mentioned earlier and i 100% agree.

"Give a person earning 20k a 50k year salary and they will feel very wealthy. In a year or two it will just be the norm and they will be in the same boat everyone else is in."

You adapt and your life style changes. For me personally, i am now in a position I no longer have to worry (within reason) about monthly outgoings, bills or going out etc. However, you start looking at new homes, cars etc all relevant to your 'new' outgoings.

 

[kai]

A salary of more than £80,000 a year does put someone in the top 5% of earners, even if they do not necessarily feel wealthy.

This shocks me to be honest that its so low to be in this bracket. £80,000 a year allows for more expendable cash each month however, its certainly not a lavish lifestyle.