The salary question?

[Scam]

If two people are having a conversation and disclose their salaries you can guarantee 100% that one of them will walk away feeling aggrieved. It's human nature and therefore I will never discuss mine. I've also been burnt in the past. In one of my older jobs I was training up a new guy and found a digital copy of his payslip on one of our shared machines. He was on £5k more than me (at a <£25 salary so the difference was huge and very noticeable due to working in London). I was solely responsible for getting him up to speed and had been declined pay rises on numerous occasions. It was a terrible company and that was pretty much the straw that broke the camel's back before I left.

That said I always wonder what people earn, especially my close friends in different industries. I also walk down our street and wonder how these people afford the houses, then an Audi or a Range Rover... when my girlfriend and I are on probably fairly normal London wages, pay less than the market-rent (nice landlords) yet besides putting away a fair amount every month in a vain attempt to save a deposit.. don't really have all that much left to play with Our street has a whatsapp group (due to COVID) so it's now possible to look people up on Linkedin and judge them even more. E.g. the guy who bought the £1.5m house opposite our flat has a very ordinary job title in a media company. Can't be getting paid that much yet has two cars (one new Range Rover), two kids.. the mind boggles how their finances work Maybe they won the lottery

I’d share it with anyone if they asked

What is your job title and how much do you get paid?

No-ones ever asked me, but I'd tell them if were that interested.

What is your job title and how much do you get paid?

Got no issue talking salary and neither do my friends.

What is your job title and how much do you get paid?

Very open if asked

What is your job title and how much do you get paid?

I don't go out of my way to mention it but if anyone asks me, I'm happy to tell them.

What is your job title and how much do you get paid?

Literally couldn't care less if people wanted to know how much I earned.

What is your job title and how much do you get paid?

Not bothered about discussing my salary

What is your job title and how much do you get paid?

 

[wingman]

Spoiler

If two people are having a conversation and disclose their salaries you can guarantee 100% that one of them will walk away feeling aggrieved. It's human nature and therefore I will never discuss mine. I've also been burnt in the past. In one of my older jobs I was training up a new guy and found a digital copy of his payslip on one of our shared machines. He was on £5k more than me (at a <£25 salary so the difference was huge and very noticeable due to working in London). I was solely responsible for getting him up to speed and had been declined pay rises on numerous occasions. It was a terrible company and that was pretty much the straw that broke the camel's back before I left.

That said I always wonder what people earn, especially my close friends in different industries. I also walk down our street and wonder how these people afford the houses, then an Audi or a Range Rover... when my girlfriend and I are on probably fairly normal London wages, pay less than the market-rent (nice landlords) yet besides putting away a fair amount every month in a vain attempt to save a deposit.. don't really have all that much left to play with Our street has a whatsapp group (due to COVID) so it's now possible to look people up on Linkedin and judge them even more. E.g. the guy who bought the £1.5m house opposite our flat has a very ordinary job title in a media company. Can't be getting paid that much yet has two cars (one new Range Rover), two kids.. the mind boggles how their finances work Maybe they won the lottery

What is your job title and how much do you get paid?
What is your job title and how much do you get paid?
What is your job title and how much do you get paid?
What is your job title and how much do you get paid?
What is your job title and how much do you get paid?
What is your job title and how much do you get paid?
What is your job title and how much do you get paid?

Not one salary disclosed in the thread so far.

Perhaps we need a poll

 

[HACO]

If two people are having a conversation and disclose their salaries you can guarantee 100% that one of them will walk away feeling aggrieved. It's human nature and therefore I will never discuss mine. I've also been burnt in the past. In one of my older jobs I was training up a new guy and found a digital copy of his payslip on one of our shared machines. He was on £5k more than me (at a <£25 salary so the difference was huge and very noticeable due to working in London). I was solely responsible for getting him up to speed and had been declined pay rises on numerous occasions. It was a terrible company and that was pretty much the straw that broke the camel's back before I left.

How is that not a good thing though? You learned the company doesn't value you and you left. That's a pretty good outcome.

Companies always give priority in their budgets to new hires compared to giving raises to existing employees. Best way to maximise earnings is to keep moving every few years.

 

[builder22]

Internet loons excluded obviously

 

[Raymond Lin]

I don't agree with the philosophy of sorting out your smaller expenses. I doubt that's the reason he was a millionaire at 25.

Most people are trying to cut down on their little expenses like coffee, or sushi, for example, whilst forgetting the fact that they paying silly money on a 30 year mortgage on a house they don't particularly need, with two brand new cars on the drive...

I've never agreed with the phrase of looking after the pennies, the pounds will look after themselves. Put your finances into a table and sort the bigger stuff out first I think.

I ain't going to feel guilty about a £3 coffee whilst the car payment is £350 per month (I don't spend £3 on coffees nor have a £350 car payment, but you get the picture).

I'll check out his channel though @Raymond Lin - always enjoy getting different perspectives on money.

The point isn't just saving on coffee but the entire finances, for example he bought a Tesla Model 3 because after all the rebate and tax refund for electric cars from the California State, claim it off for work etc it cost him something silly like $70 a month to run. He lives in a Duplex because he bought it so he rents the other side out which covers his mortgage so he is living “for free”. The idea is there are a lot of things people can do in order to save money yet living comfortably. To little things like 20 cents coffee, he goes as far as only buy them when they are on sale at Costco then stock up. There are so many things, also like for furniture, if he finds a piece that he likes from Wayfair (some US furniture place I guess), reverse Google image search and find another distributor selling the same piece for less. Hacks like that really.


His day job is being a Estate Agent (selling million dollar houses so getting that 3% or whatever means quite a big paycheque), and also has like 6-7 properties in LA area which he is the landlord. He has also revealed his YT earnings too, screenshots for ads etc, total breakdown, I think he makes over a million from YT alone. Yet drinks those 20 cents coffee. He does have a fast car though and a nice watch but you will find that the things that he spends big on, at least he argues that they holds their equity.

 

[randomshenans]

I think it just goes to show the more you earn the more you spend on things you probably would not have when you earned less. 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.

Agreed. You create a new norm.

I know my rent is 2100 EUR, Elec 270, School fees 380, Childcare 800, Internet/all mobiles 250, Car payment 600, Insurances (house/car) 250, Fees on apartment 100... probably more basic things, but that's about the sum of it. Just finished apartment mortgage, which was another 1100 a month too! We have to pay our tax out out bank monthly too, not at source, so that comes out AFTER you get your money in your bank. Weird old way. I could 100% lower all of those, I could have not bought an apartment, I could have not got another car, I could not live in the house I do. All choices, but bigger family and you desire more. Not a need... I don't feel rich, it's a norm for me and probably my environment, but to some I probably would be.

Companies always give priority in their budgets to new hires compared to giving raises to existing employees. Best way to maximise earnings is to keep moving every few years.

I agree with this to be honest.

 

[Chrisc]

Same situation as me.

Used to drive expensive cars on finance and got bored of that game. Although I never felt like I was doing it to keep up with anyone, I just wanted to go faster... now I'm older there's less appeal.

Now I have an oldish BMW with no finance and my partners Mini is almost paid off too (but massively in positive equity anyway), there's a mental weight off your shoulders when that happens too.

I'm not about having no luxuries (and I'm not going to debate what that term even means), but the last couple of years for me have really shown what I want vs what I need.

Exactly! sometimes i do feel a bit inadequate when i get out of my 10yr old Golf next to a kid driving a new Merc. But then i think to myself, that if i really wanted one i could go and buy one. And that kind of puts things into perspective, im certainly not tight, i have no desire to die and be the richest man in the graveyard. But having a nice comfortable amount of money in the bank is far more appealing than having the latest and greatest.

 

[fobose]

I don't agree with the philosophy of sorting out your smaller expenses. I doubt that's the reason he was a millionaire at 25.

It helped me out a lot. I started when I was very young as I left school at 16 and went in to full time work earning very little - 11k IIRC, but I saved and saved. I wont bang on too much but I kept all my monthly expenses down and it did me a very good turn whilst I was living on my own.

Exactly! sometimes i do feel a bit inadequate when i get out of my 10yr old Golf next to a kid driving a new Merc. But then i think to myself, that if i really wanted one i could go and buy one. And that kind of puts things into perspective, im certainly not tight, i have no desire to die and be the richest man in the graveyard. But having a nice comfortable amount of money in the bank is far more appealing than having the latest and greatest.

I've got an old C class merc which I am happy with. It's a fully blown old mans car (estate) but I like it and don't feel I need to compete with those that like a nicer car. What I really like is I can park it anywhere and not worry about it getting marked. It's still in good condition but I just don't care

 

[SGWills]

i openly discuss it if asked but dont discuss exact figures. normal response is "enough to get by" or "enough to live comfortably"
the only way i would most likely discuss the finer details is if family or friend was in the same industry and looking at job change or promotion

 

[wingman]

Hacks like that really.

Always love takes like this, I've subbed to his channel. Get him a few more pennies

Exactly! sometimes i do feel a bit inadequate when i get out of my 10yr old Golf next to a kid driving a new Merc. But then i think to myself, that if i really wanted one i could go and buy one. And that kind of puts things into perspective, im certainly not tight, i have no desire to die and be the richest man in the graveyard. But having a nice comfortable amount of money in the bank is far more appealing than having the latest and greatest.

Pfft, look at you in your 10 year old Golf. I'm in a 14 year old 3 Series

I thought like that for a bit but have taken the opposite view now, I drive my car as a badge of honour, it's paid for and you can almost guarantee most kids with new cars haven't paid theirs (I was one of those people).

It's trendy to be thrifty now though, right?

It helped me out a lot. I started when I was very young as I left school at 16 and went in to full time work earning very little - 11k IIRC, but I saved and saved. I wont bang on too much but I kept all my monthly expenses down and it did me a very good turn whilst I was living on my own.

Yeah on £11k you definitely should be focusing on every penny.

But I'm talking about higher earners who obsess with the smaller costs whilst completely negating to look at their other massive spending, which makes the coffees (even £3 daily coffees) pale in comparison.

 

[wingman]

I've got an old C class merc which I am happy with. It's a fully blown old mans car (estate) but I like it and don't feel I need to compete with those that like a nicer car. What I really like is I can park it anywhere and not worry about it getting marked. It's still in good condition but I just don't care

I'd be more interested in asking you about that IRL than someone's brand new boggo *insert hatchback here*.

 

[Chrisc]

Always love takes like this, I've subbed to his channel. Get him a few more pennies



Pfft, look at you in your 10 year old Golf. I'm in a 14 year old 3 Series

I thought like that for a bit but have taken the opposite view now, I drive my car as a badge of honour, it's paid for and you can almost guarantee most kids with new cars haven't paid theirs (I was one of those people).

It's trendy to be thrifty now though, right?

im certainly going to make it trendy

Something else thats opened my eyes a bit, my mum is 49 in September, and they have 1 more payment and the house is paid for, i always wondered when growing up why my parents didnt go and buy a nice big detached house, they could certainly afford it. Now it all makes sense, and i want to be able to do the same.

 

[Nitefly]

After pensions/student loan it's more like 2.7k. I'm not saying it's a low salary or anything but it's only just enough to maybe get a mortgage on an average house. Ultimately I want an average house and a supercar, so need to work that bit out .

EDIT: Opened a can of worms haven't I.

As I mentioned later, I think buying a home really requires going in with a partner (or financing help from relatives or similar) as they are disproportionately expensive. It’s not impossible, but it’s very atypical.

 

[Scam]

and also has like 6-7 properties in LA area which he is the landlord

I'm not trying to dampen your enthusiasm but this is a very big "and also" to throw in there. LOL! After some quick Googling he is essentially a landlord that Youtubes. Great...

In all seriousness on his YT strapline he said he started with real estate when he was 18, so 2008ish. I'd imagine with a little help, maybe none - but the foresight and luck to get into the game so early and at a great time in the market. He's done quite well for himself. But any of the minor stuff he does that you mention must absolutely pale into comparison with taking in 6-7x rent every month...

 

[wingman]

I'm not trying to dampen your enthusiasm but this is a very big "and also" to throw in there. LOL! After some quick Googling he is essentially a landlord that Youtubes. Great...

In all seriousness on his YT strapline he said he started with real estate when he was 18, so 2008ish. I'd imagine with a little help, maybe none - but the foresight and luck to get into the game so early and at a great time in the market. He's done quite well for himself. But any of the minor stuff he does that you mention must absolutely pale into comparison with taking in 6-7x rent every month...

Indeed, not everyone can win at that game. Right place, right time, right opportunities.

1,000,000 people could've put in exactly the same work as him who are now working for other people at a fraction of his income.

 

[Raymond Lin]

I'm not trying to dampen your enthusiasm but this is a very big "and also" to throw in there. LOL! After some quick Googling he is essentially a landlord that Youtubes. Great...

In all seriousness on his YT strapline he said he started with real estate when he was 18, so 2008ish. I'd imagine with a little help, maybe none - but the foresight and luck to get into the game so early and at a great time in the market. He's done quite well for himself. But any of the minor stuff he does that you mention must absolutely pale into comparison with taking in 6-7x rent every month...

That is the entire point, the amount he is earning (large sums of money) and living very frugal in comparison. The point isn’t how much he earns or how little he spends, the point is he doesn’t really live to the level that he is earning. There are dozens of videos for example on credit card points reward to get the max use out of them. How he paid his decorator with his Amex to get points which used for flights. If he was going to spend that money anyway, get a free flight out of it.

It's both living smart and living way under his means. The contrast here is the point.

 

[Greebo]

To be honest a lot of it for me is aspirational. There's quite a few members here that are in positions I would love to be in, and it's nice to know roughly what it takes. I always thought it was '40% tax bracket and you're comfortable' - but It's certainly not!

In real life I have close friends I would discuss it with if they asked, but they don't tend to. Friends in the same industry I'm more open with obviously as it's helpful for all of us.

it is though. Its more than enough to be comfortable and considerably more than the majority of the population. it puts you into the top 13.7% earners. Depending on the lifestyle you live as to how comfortable you are.

As for discussing salaries its a fairly taboo thing like sex for British people.

 

[Basher]

I'm happy to discuss it if people really want to know, but I never bring it up in conversation. I used to a bit when younger, but certainly not over the last few years.

 

[jaybee]

its obvious roughly how much people earn if they get a new car every year and have a 4 bed house.

It's pretty easy to work out most peoples income range based on house/car/holidays etc.

Is it? Give us some examples then? I think it's very judgmental to base income on cars, holidays and houses. What if someone knows someone that owns a property and gets good rates and only pays flights? What if they work for an airline and get discounts? What if they only holiday big once every few years? What if their awesome cars are leased for just 1 year. A 4 bed house does not indicate significant wealth. It depends on location and circumstances. Whether the couple both earn well. Maybe there was some inheritance but they still don't earn a lot. Maybe they get topped up by ex partners paying child maintenance. Maybe they won at a casino a few years back. Could be all manner of things at play.

If two people are having a conversation and disclose their salaries you can guarantee 100% that one of them will walk away feeling aggrieved. It's human nature and therefore I will never discuss mine. I've also been burnt in the past. In one of my older jobs I was training up a new guy and found a digital copy of his payslip on one of our shared machines. He was on £5k more than me (at a <£25 salary so the difference was huge and very noticeable due to working in London). I was solely responsible for getting him up to speed and had been declined pay rises on numerous occasions. It was a terrible company and that was pretty much the straw that broke the camel's back before I left.

I agree it can very easily cause ill feelings and conflict. I was informed by someone what a colleague I once worked with earned, and was shocked to find it being significantly higher than myself due to legacy reasons of being in a company a long, long time pocketing minor pay increases that had accumulated over the years. I wouldn't mind but I managed him! Not his fault either but I soon left that company.

 

[jaybee]

it is though. Its more than enough to be comfortable and considerably more than the majority of the population. it puts you into the top 13.7% earners. Depending on the lifestyle you live as to how comfortable you are.

As for discussing salaries its a fairly taboo thing like sex for British people.

You think being in the 40% tax bracket automatically means life is comfortable even when living in and around London and the South East? I know a large amount of people that would disagree.