What is a good salary in UK at present?

jigger said:
I’m not sure. My Mrs and Daughter went away for a week.

My some highlights of my dinner menu.

Fish fingers chips and pea’s.
Triple egg and chips.
Corned beef crusty cobs with brown sauce.
Beans on toast.

I’ve never had it so good.
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Let's be honest, us blokes could live on beans on toast for a month, but women are expensive creatures :p
 
I honestly wonder how people can manage on some of the mortgages my mates have or the cost of their cars. Many have cars costing more per month than my mortgage and earn the same or less than I do.

We moved out of Glasgow from a 1 bed flat and into a 4 bed terraced house, quality of life is through the roof and I am glad we are raising our daughter here. Outside of expansive areas if you are realistic (not allowing yourself to get ripped off on a ***** new build) I reckon most families can manage easily on 35-40K household income with 1 or 2 kids and being careful with holidays.

Kids are mainly expensive when they are under 5, once at school it's a hell of a lot easier.
 
I think it depends on your lifestyle and what makes you happy. I know wanting more money may seem like more happiness but actually having enough is important. So a good salary is subjective. I’m a heavy FIRE follower so max income with min outgoings (within reason) and so see well past/multiples of 6 figures as a good income. However I will change my mind once I reach FI as the need for money erodes.
 
I calculated I need to clear £4k after tax every month to be comfortable, so £70k/y. £1.5k for housing costs, £1k for all other essential spending and £1.5k for savings/holidays/purchases etc.
 
My first job paid £42 a week, so £2,184 a year, which would have been around 1985.

I look at that now some 37 years later and wonder how I lived but I did, even with the price of stuff back then.

To my point, you live to your means.
 
aspiring said:
Lot of people quoting 35-50k salaries yet so many on strike due to these wages....
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And ?

I'm in that range and work in an industry where there's a skills shortage that's causing projects to fail or take twice as long as predicted whilst the companies involved are still making huge profits

I'd bet my (modest) house that we will get 10% before the year is out but they will make us strike for it first because of their own greed :p the press and the government will tell you I earn above the average wage , should thank myself lucky and that I'm the greedy one. Whilst the shareholders make £££

People are realising what they are worth and either fighting for it or leaving for somewhere that pays them it.
 
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andy said:
And ?

I'm in that range and work in an industry where there's a skills shortage that's causing projects to fail or take twice as long as predicted whilst the companies involved are still making huge profits

I'd bet my (modest) house that we will get 10% before the year is out but they will make us strike for it first because of their own greed :p the press and the government will tell you I earn above the average wage , should thank myself lucky and that I'm the greedy one. Whilst the shareholders make £££

People are realising what they are worth and either fighting for it or leaving for somewhere that pays them it.
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So what is the total return for shareholders if you bought that company 1,3,5, and 10 years ago? Reinvesting dividends if there were any.
 
This is a question without a clear answer.

I would hypothesise that in London anything over about £50k if you're under 40 with no kids would lead a very comfortable lifestyle indeed - and assuming you can put away some money into the stock market by the time you're about 50-60 you'll have a decent amount of savings.

I earn somewhere around £67k and in SW London I'd say I live a very comfortable life - but then I'm under 30 and don't have kids.

Thoughts?
 
Dialup said:
This is a question without a clear answer.

I would hypothesise that in London anything over about £50k if you're under 40 with no kids would lead a very comfortable lifestyle indeed - and assuming you can put away some money into the stock market by the time you're about 50-60 you'll have a decent amount of savings.

I earn somewhere around £67k and in SW London I'd say I live a very comfortable life - but then I'm under 30 and don't have kids.

Thoughts?
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Comfortable but somewhat freedom deprived if you rent - no pets, no decorating as standard.
 
I'd say i have a good salary...

For my circumstances..

And circumstances make it difficult

No kids
On the ladder
A partner (who earns but earns less, 30k)
In an average house (300k value, 200k mortgage)

I earn 55k and can save a lot a month (over 1000 every month, and often 1500)
Can have nice holidays. This year's holidays are totaling 5k for myself (this will come partially out of that savings pot)

But it's not luxury. I have an old car. Don't eat out much (because it's not my thing), don't really drink.
Absolutely no loans. Pcp cars etc. Oh and we both WFH.
But I still try to save on offers etc.

So I'd say 40+ is good outside London influence
Great if you have 2 people on 40.


I feel this puts me in the right side of that infamous rich/poor divide.
 
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Diddums said:
I'm on £60k atm. I could jump to £70k tomorrow but my current role is very rewarding and I'm not keen on leaving my company.

My next promo will likely bring me close to £100k.
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Nice, not many industries or companies where a promotion will get you a 60-70% payrise. Usually 10-15% or so or if you switch company double that.
 
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