Poll: Where do you fit in? (IFS income percentile) (*net incomes only - do it correctly!*)

[Hatter The Mad]

Where do you fit in? (IFS income percentile)

Note that the calculator asks for NET INCOME.

Your net income is what you earn after taxes and income contingent tax liabilities (ie student loans) have been deducted from your gross income.

Use listentotaxman.com to find out what that is from your gross earnings.

The calculator: http://www.ifs.org.uk/wheredoyoufitin/

 

[Hatter The Mad]

I predict that most people here will find themselves far 'richer' than what they realise. It'll be interesting to compare the distribution here to the whole country:

 

[Hatter The Mad]

Fools, how could you possibly miss the link!

 

[Hatter The Mad]

^ Is that graph gross or net income?

Also, I found the link, here

Please now enter your net household income and the period over which you have calculated it.

First, you will need to add together the incomes of yourself, your partner and anyone else who lives with you, after deducting income tax and national insurance. In addition to wage or salary income, don't forget to include any benefits you receive, income from savings and investment, profits or losses from self-employment, and any other sources of income.

 

[Hatter The Mad]

Too lazy to work out my net income

www.listentotaxman.com

 

[Hatter The Mad]

Cheers worked it out now. Not sure I want people knowing though

That's why we are talking percentages

 

[Hatter The Mad]

Can still be embarrassing though. Let's just say that you're right, I am richer than I thought - but ultimately doesn't all that matter is how rich you feel?

That's why I am waiting for the anonymous poll before sharing mine.

That's the point of the exercise - to compare how rich you are to how rich you feel.

 

[Hatter The Mad]

Wake up, mods!

 

[Hatter The Mad]

This is rubbish. It doesn't include the income from council housing.

It says include any benefits and tax credits

 

[Hatter The Mad]

Why does it ask for council tax amount? That's a bizarre thing to solely deduct, and leave out things like mortgage/rent/bills/etc.

Rents and bills are not taxes.

 

[Hatter The Mad]

Looks like we are heavily concentrated in at least the top quarter so far

 

[Hatter The Mad]

Very much top-heavy. I expected it to be weighted in the top half, but didn't expect it to be so concentrated in the top tenth!

 

[Hatter The Mad]

What non sense, it says that I am at 88% but i am on a salary that I can barely live off.

What is your salary?

 

[Hatter The Mad]

I think it's broken though, isn't it? I think if your salary is greater than 70 or 80k it puts you in the top 1%. I can't remember the specifics but it put us in the top 1% but even lowering our salaries significantly still kept us in the top 1%. IIRC that 'trigger' was 70 or 80k. Maybe someone with more time could test it.

It takes into account more than just salary, and are you remembering to only consider net?

 

[Hatter The Mad]

Some people are definitely not using their net earnings here, which is skewing the results big time.

For instance, mine comes out 88% if I don't do it right, but 66% if I do.

Is there a way to remove the poll and start it from scratch?

 

[Hatter The Mad]

Ok, I RTMd

 

[Hatter The Mad]

As requested

Great, thanks Unfortunately, it seems those who already voted still cannot: "Voters: 5. You have already voted on this poll"

 

[Hatter The Mad]

Note that the calculator asks for NET INCOME.

Your net income is what you earn after taxes and income contingent tax liabilities (ie student loans) have been deducted from your gross income.

Use listentotaxman.com to find out what that is from your gross earnings.

The calculator: http://www.ifs.org.uk/wheredoyoufitin/

 

[Hatter The Mad]

Unfortunately it appears that the reset only resets the values, not who and who has not already voted. I've consulted an admin on this and it would seem the only option would be to close this thread and start a new thread with a new poll, we could then merge the posts in from this. My apologies but didn't realise this at the time.

Cheers for taking the time to check that out, you're a star.

I made a new thread:

http://forums.overclockers.co.uk/showthread.php?p=21507954#post21507954

 

[Hatter The Mad]

If i was doing the same job in the private sector that'd probably be over 50% which is a sad fact.

And in all honesty, you'd probably have stricter hours and more job volatility. Swings and roundabouts...