Not if you lift the tax threshold high enough.
Work and career progression apathy.. Is it much more prevalent now?
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"If" doth butter no parsnips.
I don't think you could.
You'd have to tax wealth or something to make up the short fall.
For some reason no one (politicians) want to
Soldato
I'm on just over £27k and would love to be on £35k+, but given my circumstances I know it's not going to happen. So yeah, it is what it is.
That's the cook's job isn't it?
It probably is an impossible ask but it was only a quick answer to not getting the poorer in more ****
I definitely would trade stress/long work hours for lower salary but it isn't that simple. Being promoted into positions with higher responsibility makes the work more interesting and more fullfilling.
I could demote myself to be an IC software engineer but then my impact on the company is small and i have little freedom in daily work.
And really, that is the main drive to move into management. Do you want someone telling you what to do and you just have to get on and do it, or do you want to plant projects, prioritize different features, make executive decisions on spending, understand markets, collaborate with other teams or companies, try and grow revenue, try and maximize the productivity of your team, lead product launches, stay on top of the state of the art etc.
The pay increase itself is never worth it, but the increased responsibilities although leading to stress and even longer jours are more interesting.
I could demote myself to be an IC software engineer but then my impact on the company is small and i have little freedom in daily work.
And really, that is the main drive to move into management. Do you want someone telling you what to do and you just have to get on and do it, or do you want to plant projects, prioritize different features, make executive decisions on spending, understand markets, collaborate with other teams or companies, try and grow revenue, try and maximize the productivity of your team, lead product launches, stay on top of the state of the art etc.
The pay increase itself is never worth it, but the increased responsibilities although leading to stress and even longer jours are more interesting.
Soldato
Absolutely seeing this exact thing ramp up post COVID within my own family/friends/work groups who, generally match your peer groups pay scales. Not that this is specifically a "quiet quitting" thing, as its been named in the media, but just that idea of "I don't want to go any higher, the negatives now outweigh the benefits" is very prevalent. I'm also seeing a huge rise in "I'm protecting my mental health" amongst my work group (not family/friends) being given, again something almost unheard of pre COVID but which has had a massive amount of media attention recently.
Myself, my family/friends/work group generally are 45-55, a 70/30 male/female split, mostly fully employed (37-45hrs/wk), mostly earning £40-60k, most have 1-2 kids & are married with full-time working spouses etc, most have worked in the same profession all their life (IT, Military, Public Service, Retail), most still live in the city they were born in or have moved to their spouses city of birth, and almost all are in some form of leadership role (shift manager, senior, team lead etc) which sits about 1/3 to 1/2 way up their management chain where ever they work.
Having spoken to friends/family about what they're seeing at their places of work, everyone is reporting this same kind of recent "malaise" towards the desire of constantly moving up the corporate ladder. Its all a little concerning for the upper leadership of "big business" I would guess when the minions below them just stop caring about (or have have no desire left for) moving up through the company I suppose, but I've no idea what "reasonable" fix can be put in place to fix this.
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Soldato
For the past few years I've been feeling a bit lost with work. I've been at the same place for over 20 years and very knowledgeable in what I do. But to progress further I would need to go into management which I'm not at all suited for nor keen on. I like doing things, I like being the one writing the documents or doing the analysis. I already manage consultants on occasion, I don't want to manage people directly.
So I didn't know what I could do next. I've reached the peak of what a non manager can get to in my organisation and my pay rises now are just the annual inflationary increments, which can be decent especially last year when we got 8% (unheard of in the >20 years I've been there). I put an extra 4% in my pension last year to stop me entering the 40% tax bracket and will do the same this year with almost the whole annual increment.
I contemplated leaving and going for a job in Birmingham city centre but I didn't have the right qualifications (experienced in the field but without the formal qualifications). So I asked if work would sponsor me to do a part time masters (2.5 years) which they agreed to. So my plan now is to do that then see what I feel like in 3 years time.
I'm 44, so if I am going to move to a managerial position in the city centre (Birmingham) I would need to aim for it before I'm 50 I think.
My other reason for wanting to try a city centre job is that the social side at my current workplace is almost non existent now. It used to be good but lots of the long serving people have retired or moved on since COVID and now it's pretty lifeless.
So I didn't know what I could do next. I've reached the peak of what a non manager can get to in my organisation and my pay rises now are just the annual inflationary increments, which can be decent especially last year when we got 8% (unheard of in the >20 years I've been there). I put an extra 4% in my pension last year to stop me entering the 40% tax bracket and will do the same this year with almost the whole annual increment.
I contemplated leaving and going for a job in Birmingham city centre but I didn't have the right qualifications (experienced in the field but without the formal qualifications). So I asked if work would sponsor me to do a part time masters (2.5 years) which they agreed to. So my plan now is to do that then see what I feel like in 3 years time.
I'm 44, so if I am going to move to a managerial position in the city centre (Birmingham) I would need to aim for it before I'm 50 I think.
My other reason for wanting to try a city centre job is that the social side at my current workplace is almost non existent now. It used to be good but lots of the long serving people have retired or moved on since COVID and now it's pretty lifeless.
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Have AI make all the management decisions so nobody needs to get promoted against their will.
Winner, winner, chicken dinner!
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Soldato
150k+ ain’t mega salary territory. Don’t get me wrong it’s good. But when you take the overall tax rate, loss of personal allowance and all the benefits like childcare you lose. It doesn’t allow you to live life without cares . Esp in London etc.
To me £50k+ is a decent salary. £100k+ is a comfortable salary. £150k+ is a good salary. £300k+ takes away most cares. £1m+ is mega salary territory.
To me £50k+ is a decent salary. £100k+ is a comfortable salary. £150k+ is a good salary. £300k+ takes away most cares. £1m+ is mega salary territory.
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Caporegime
Loose childcare
Soldato
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Soldato
Maybe the upper leadership of these big businesses should look a little closer to home if they're concerned about it
That completely depends on the company. I've seen the **** some of our managers and team leaders have to deal with and there's no way I'd go into management at my current employer
To you, maybe.
Median salary in the UK is ~£32k, so half the country earn less than that.
If you earn more than £45k you're in the top 25% of earners in the country.
If you earn more than £63k you're in the top 10% of earners in the country.
So your "decent" salary is something nearly 80% of the country earn less than.
Soldato
My viewpoint and the statistics aren’t mutually exclusive.
Decent to me is being able to live past payday to payday with some comforts.
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To me 150k is definitely a mega salary.
150k would shave years off my work life.
Or materially change my day to day.
In my position, I'd certainly have no cares at all!
I'd be taking home about 3k extra a month.
That's an insane amount of extra money.
Not even sure what I'd do. Increase pension I guess and retire a bit earlier. Divest into property?
Not have to skimp on holiday transport. (ie not using Ryan Air!)
For me 50k is comfortable, 100k would be excellent and 150k+ would be "no worries"
I mean.. 3k extra a month. Could have a deposit for a house in a year just with the extra!
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I have to agree, 150k to me would see me living extremely comfortable. But this is because I live in Scotland and I would live in a home I could afford on 80ish if I ever got that high.
I'm in a strange situation where I'll climb to probably 80ish soon enough (without promotion, with o/t etc) with the opportunity to rise into management if I crave it.
But my job is a dream, and not sure I'll want that extra burden. That said when I do the pension calculations, anything extra makes such a significance difference that it does make me consider it in 5-6 years. My pension scheme is crazy though and definitely incentives you to want that extra money/promotion.
Yeah my Pension scheme is naff. Which makes it much less appealing to contribute over the match. I could put more in than I do, but I don't.
I think my limit is 70 in the near term. Which is fine.
By fine I mean.. Money is no longer as important as it was like when I was on 35.
Only viable next big step for me would be working for myself. I'd rather that than middle management
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