What is a good salary in UK at present?

[413x]

You guys are a great advert for not having kids! Changing careers, working nights, huge child care costs.

Sounds like sometimes you're almost living separate lives.

 

[neocon]

Not just decent salary job, low pay jobs are already gone too. We have self check out tills which took away 80% of counter staff, card payment means less cash handling so cash and accounting person cut, automated price changes with digital display so manual labor cut....the list just keeps going on. So many university degree that will not land a job forget about good salary

The government allows "skilled" workers to come in for £26k. That's surely depressing wages for indigenous people.

 

[China Man]

There must be a need or demand for the government to allows such policy, there must be a bigger picture than just number of jobs available for indigenous people or immigrant worker.

 

[Ocean Breeze]

Once AI gets going everyone will be on poverty pay. God knows how people currently earning high salaries with huge outgoings will cope.

 

[Richie]

It's a good salary but once you start paying higher rate tax, your mindset changes about what to do with that money. I.e. to be tax efficient, it would be 50k pension contribution and 20k ISA. So 30k gross doesn't exactly give you a higher standard of living compared to people with lower salaries and savings.

Forgive me if I don't shed a tear for people that choose to save £70k/year and then think they have the same problems as someone actually on £30k/year.

 

[theone8181]

At home: "off on business this week honey"
At hotel: "let's get down to business"

Who that trip was hard work, really took it out of me, I feel really drained.

 

[Iamzod]

Once AI gets going everyone will be on poverty pay. God knows how people currently earning high salaries with huge outgoings will cope.

Can't work, as there will no longer be any consumers to buy the products sold by the companies using AI, either prices would need to tumble or they would need taxing through the nose to pay for the general population to have an income.

 

[Bald-Eagle22]

I genuinely don't understand how people on average or low wages manage with kids.

They don’t , they get state hand outs .

So you can earn 50k a year and still get the following £ 2074 per annum to be exact , that’s after tax.

Eldest or only child	£24.00
Additional children	£15.90 per child

 

[Begbie]

They don’t , they get state hand outs .

So you can earn 50k a year and still get the following £ 2074 per annum to be exact , that’s after tax.

Eldest or only child	£24.00
Additional children	£15.90 per child

Its not really a state handout when they contribute pretty well to the state at £50k p.a.

I see it as a tax break rather than a handout, if anything it should be higher.

 

[cheesyboy]

Once AI gets going everyone will be on poverty pay. God knows how people currently earning high salaries with huge outgoings will cope.

Funny isn't it

Up until the 70s, we were conceptualising a post-scarcity future (think Star Trek) where technology had removed the need for a good proportion of labour. We would be free to express ourselves through art or furtherment of our philosophical understanding of the world.

Yet now we're actually looking at technology removing the need for labour in the real world, only to hand the rewards to capitalists, whilst those deemed surplus to labour requirements are facing down poverty.

 

[413x]

Funny isn't it

Up until the 70s, we were conceptualising a post-scarcity future (think Star Trek) where technology had removed the need for a good proportion of labour. We would be free to express ourselves through art or furtherment of our philosophical understanding of the world.

Yet now we're actually looking at technology removing the need for labour in the real world, only to hand the rewards to capitalists, whilst those deemed surplus to labour requirements are facing down poverty.

If AI does indeed zap swathes of jobs in let's say, a decade, I don't think we can imagine how it will play out.

Would there be an uprising of the peasants?

I mean it would change so much in so many ways. People would be clamouring for trade type Jobs.
The economy would collapse?
How would the west deal With such a power shift?
There'd be so many people (especially young people) with absolutely no hope of anything.


If its slow and gradual I'm sure change would also be slow. But if the fears do come true.. I doubt any of us could picture what the future will look like.

 

[tom_e]

They don’t , they get state hand outs .

So you can earn 50k a year and still get the following £ 2074 per annum to be exact , that’s after tax.

Eldest or only child	£24.00
Additional children	£15.90 per child

Once they earn an extra £271 that is effectively halved. Along with having the added fun of needing to fill in self assessment every year.

 

[theone8181]

Once they earn an extra £271 that is effectively halved. Along with having the added fun of needing to fill in self assessment every year.

Why do you need to do self assessment? Doesn't paye cover it? I'm interested as my Mrs earns ~49k and if she does a few extra days or gets a payrise (haha) then she's just into that bracket, but possibly not on a regular basis if that makes sense.

 

[Lopéz]

Salary of £40,000 less 5% pension = a monthly take home of £2,489.33 (£612 left)
Salary of £50,000 less 5% pension = a monthly take home of £3,022.67 (£1145 left)

I'm going to say a good salary would be around £40k to have a decent standard of living? Now....if these two decide to have kids, that's when things change massively. Not only costs in raising them, but usually one parent goes part-time and/or has childcare costs. £40k doesn't get you a luxury life-style, even if both are earning the same which is not usually the case. Lots of relationships have one earning quite a bit more than the other.

Living alone, about 4 years ago, I found 45k pretty decent tbh. It was a big upgrade from 30k, noticeable.

 

[tom_e]

Why do you need to do self assessment? Doesn't paye cover it? I'm interested as my Mrs earns ~49k and if she does a few extra days or gets a payrise (haha) then she's just into that bracket, but possibly not on a regular basis if that makes sense.

No idea another case of them just being difficult I think. https://www.gov.uk/child-benefit/what-youll-get

 

[Freefaller]

I do a SA but that's to claim my pension relief but also to help me prove that my total earnings fall below 100k so that I could get my 30hrs of childcare.

Not that I need to anymore with both of them at school. However it's worth reducing your salary over 100k to avoid the 60% trap.

 

[Nitefly]

Living alone, about 4 years ago, I found 45k pretty decent tbh. It was a big upgrade from 30k, noticeable.

Yes that’s around where each £1 matters the most. It’s a huge % increase on disposable income, perhaps doubling or tripping it.

 

[glenimp617]

Why do you need to do self assessment? Doesn't paye cover it? I'm interested as my Mrs earns ~49k and if she does a few extra days or gets a payrise (haha) then she's just into that bracket, but possibly not on a regular basis if that makes sense.

because government departments don't speak to each other, and tell you they don't know when they bloody well do.

They know once you start earning over £50k, yet ask you to tell them? It's a bit bonkers.

Basically if you are claiming child benefit, you need to pay back 10% for every £1,000 over £50k. If you earn £59k you need to pay back 90%

for each tax year, you need to login online and complete the self assessment form, then you get a nice bill at the end lol

 

[413x]

Living alone, about 4 years ago, I found 45k pretty decent tbh. It was a big upgrade from 30k, noticeable.

I agree.
I jumped in pay from 27 to 55 in 3-4 years changing jobs
27-35
35-45
45-55

27-35 felt likt I actually had spare cash.
35-45 felt like a huge jump.
But 45-55 I've hardly 'felt' the change.

 

[dirtychinchilla]

The government allows "skilled" workers to come in for £26k. That's surely depressing wages for indigenous people.

Who's indigenous?

Funny isn't it

Up until the 70s, we were conceptualising a post-scarcity future (think Star Trek) where technology had removed the need for a good proportion of labour. We would be free to express ourselves through art or furtherment of our philosophical understanding of the world.

Yet now we're actually looking at technology removing the need for labour in the real world, only to hand the rewards to capitalists, whilst those deemed surplus to labour requirements are facing down poverty.

Yeah...I've always assumed that one of the goals of humankind would be to remove the need for anyone to work. I'm sure there will be a lot of grumpy people who don't like that idea though.