[Closed] What is considered a 'good' salary?

It's completely relative, what I earn and where I live I feel pretty well off. But put me in Central London and that would be pretty different.

What's your current salary and what's the new package and where do you live?

My company thinks £7.50 ph is a good wage. Try that

It's very area (prices, salaries) dependent.

Where I live now £25,000 would make me reasonably comfortable. Where I lived before £40,000+ was a struggle.

One you can comfortably live on - dont ask STW, ask yourself !

I'd say anything above 50k is okay 75k + is pretty good

Ha depends, I took a drop of £30,000 and company car 10 years ago, didnt change where I lived or what I did, took another drop 5 weeks ago and hey nothings going to change.
I just have had to look for bargains when I need something, when the supermarkets have special offers on stock up and so on.
The lack of pressure is worth it.

No less than 100k basic I'd say.

Depends how much you spend!

Our joint Salary (before tax) is around £35k - we get by OK but there's not much to spare at the end of the month. And no foreign holidays or fancy cars!

I think this is OK, but a lot of our friends are on household incomes of 60k plus.

I've been offered 25% than my current salary for a job 12 miles from home - currently consulting and project I'm on now involves 3 1/2 hours of travelling/day. Would take a drop but not that much. Anyway, £50k seems a comfortable salary to me (in SE), over £75k seems very good.

depends on the job. a Championship footballer, 18yo in his first year in the first team would earn waaaay more than what we mortals would consider 'good'. compare that with say Lionel Messi or Wayne Rooney & it'd be considered a pittance

I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.

That's why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

These public salary displays are vulgar. There's one on money saving expert that is more indicative of 'most people's' salary as opposed to what you're likely to get on STW, where creating an impression of success seems crucial to many.

A good salary is what you need to live on plus enough for some luxuries such as a couple of holidays, a bit of savings and a fancy bike I reckon. And enough to see your kids not miss out on things such as trips away at school.

A£*%holes like the reply above do nothing to answer the question being posted!

Whatever figure people post here,

Then half it.

Threads like this make me realise I sadly live in a completely different world to a lot of people on here.

My aim in life as far as ££ goes is to always earn my age in 000's. Think thats a good balance between being realistic and ambitious. I'm currently £500 off this, so doing ok so far!

I think the main point you have to consider is this:

Is lunch included?

There is no "good".
It depends on your outgoings and the things you aspire to have. Want a big house? Lots of kids? Flash car? You need big moneys.
If you're happy with a modest house, car, bike, holidays etc, you'll be happy with less. Doesn't mean it's less "good" though. "Fit for purpose" is more like it.

I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.

That's why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

Not sure if serious? This forum is definately the pistonheads of the bike world.... full of nobs.

Hmmm anything below £175k pa and you are on the poverty line yeah 😆

But depends on what you actually need and what you want to spend (money vs time) on. I think you could easily survive on £25k pa if you just get the basics right, then spend a lot of time doing stuff you actually like doing..

But then I prefer the 1st option.. 8)

Well, these sort of threads definitely bring out the green eyed monster in some folk.

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My aim in life as far as ££ goes is to always earn my age in 000's.

+1

Slightly not answering the question, but if one judges success by state of mind, then salary becomes irrelevant in my opinion.

Well, these sort of threads definitely bring out the green eyed monster in some folk.

Let's face it, discussing salaries is and has always been slightly taboo. Personally, I'm not bothered who knows what I earn though.

Slightly not answering the question, but if one judges success by state of mind, then salary becomes irrelevant in my opinion.

I think you'd have to be a bit of an imbecile to do that!

glasgowdan - Member

A£*%holes like the reply above do nothing to answer the question being posted!

His post comes across quite factual to me. Maybe he works/worked very hard for that. Anyway, maybe he should be congratulated for his achievement rather than scorned.

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I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.
That's why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

Your accountant is shite if you increased your salary through the upper tax band, but decreased your take home.

I would sack him and employ someone who understands how tax works.

...although nealglover has a point. I know a chap who earned £116k, and was advised by his accountant mate to out £8k in a pension, somehow resulting in a £20k tax saving.

Don't ask me how 'cause I don't know, but it was all above board.

Hey, I never mentioned what I earn, just gave a "theoretical" figure.. 😉

I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.

You don't know how tax bands work, do you?

I earn sod-all. Nor do I really care. My shift pattern means that I get to ride largely-empty trails (e.g. 10 am on a weekday - bliss). Part-time postgrad study means that I have the run of a university library, which contains more great books than I could ever read in a lifetime.

I have what I need - I occasionally replace my middle chainring, but otherwise don't want for much.

Factual answer:

The ONS says:

For the 2011/12 tax year median gross annual earnings for full-time employees on adult rates who had been in the same job for at least 12 months (including those whose pay was affected by absence) were [b]£26,500[/b]. For men, median gross annual earnings were £28,700 while the comparable figure for women was £23,100.

-- http://www.ons.gov.uk/ons/dcp171766_300035.pdf

So I guess anything above that is a "good" salary.

bikebouy - Member
Hey, I never mentioned what I earn, just gave a "theoretical" figure..

+1 btw...

Was going to post what Graham presents above but he beat me to it, probably reasonable to adjust it a bit if you live in London or thereabouts.

officialtob - Member

Threads like this make me realise I sadly live in a completely different world to a lot of people on here.

My aim in life as far as ££ goes is to always earn my age in 000's. Think thats a good balance between being realistic and ambitious. I'm currently £500 off this, so doing ok so far!

+1 (or might be 2 or 3 now) - though, I've been very lucky recently. Still it's all relative and like others have said, once you hit the higher band "the income to arse-ache ratio" (tm) tthew takes a massive hit

Depends what you see as need or want?
I own my house, leave at 7:30 home by 4:45. Have good mates and a top Mrs. Get to do lots of biking and climbing and lots of holidays. Don't have or want a flash life and probably earn a lot less than the braggers. However I'm happy with my lot and don't compare myself to others to feel how happy I am. Off biking for the weekend now 🙂

...although nealglover has a point. I know a chap who earned £116k, and was advised by his accountant mate to out £8k in a pension, somehow resulting in a £20k tax saving.

Don't ask me how 'cause I don't know, but it was all above board.

You forfeit your personal allowance once you go over 100k.

Good luck everyone. I second the cat picture.

I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.

That's why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.

You are Gary Barlow and I claim my £10.

(Let's face it, you won't miss it 😉 )

A bit more than I spend each month.

Well from what people say they are on they cant have a lot of time to spend it, me I have all the time in the world to spend what I dont have.
I can tell you I know which is the best position to be in 😀 😀

Thanks for some of the feedback.
I think deep down I know the offset of a better work life ratio is the only real option but greed keeps rearing its ugly head.
Having got to a salary that is in excess of my age it feels like taking a drop and lower responsibility would be tantamount to 'failing'.
The new salary is by no means poor based on the averages mentioned earlier in the thread but it would be around a 25% reduction which would be going back 5 years..... :-/ . That said I don't get enjoy the role anymore.
I know the only person who can make the decision is me but it's good to get the thoughts of 30 or so random anonymous people to help me realise how shallow I know I am 😀

I find that once you go through the upper tax band at £150k it decreases your take home so much it's just not worth it any more.
That's why I changed my arrangements to take more of it as benefits. The joys of having an excellent accountant to sort these things out.
Your accountant is shite if you increased your salary through the upper tax band, but decreased your take home.
I would sack him and employ someone who understands how tax works.

I'm guessing someone works under their own ltd company now rather than be a permanent employee.

I haven't a clue what a good salary is, and I'm very unlikely to take one home in my lifetime.. I could tell you what a bad salary is if that's any help?

I'm guessing someone works under their own ltd company now rather than be a permanent employee.

Doesn't really matter.

That's still not how tax bands work.

The idea swapping lifestyle for income is very zen but most of us can't do it. Unless I start earning 100k plus I couldn't. Fear of the future....

I think that what you do with your salary is far more important that the amount you earn in the first place

I'm guessing someone works under their own ltd company now rather than be a permanent employee.
Doesn't really matter.
That's still not how tax bands work

If you pay more out on dividends and spend out more on items that could reduce your profit there's less corporation tax to pay. Brackets remain the same but you could pay less on tax.

I've just jacked in a not very well paid but fantastic job with an amazing lifestyle for an extra 1 at the begining of my salary. Weather this vast figure makes up for leaving behind what I love will determine if its a good salary I guess. I don't think you can put a number on it.

In my employment, I will never be rich, but never be poor. Can't put a value on that IMO.

(plus I have an enor[b][Moderated][/b] so I don't need an Audi 😀 *)

*I really want an Audi.

My aim in life as far as ££ goes is to always earn my age in 000's.

Good salary? About 10k more than you earn right now. Simples.

If you pay more out on dividends and spend out more on items that could reduce your profit there's less corporation tax to pay. Brackets remain the same but you could pay less on tax.

Well, that's true obviously. But isn't really what was said earlier.

He said that breaching the higher rate threshold reduces your take home pay.

And obviously, anyone earning that amount would know that it doesn't

Someone who doesn't understand tax bands, might think that it does though.

an amount that means spending a third or less on your living costs whatever they are.
a decent buffer to live on for a year or 2 if things go tits up.

40k is comfortable, 70k is very comfortable, from experience. though I do have a small mortgage no credit card debts or children to pay for! And the missus pays her share too, we also drive old bangers but have nice holidays and ace bikes.

Rather important to look at how many hours a week you put in to earn the money too. As well as adding in travel time..

£80'000 a year is pretty good, but not if you work 60 hour weeks and spend two hours a day travelling there and back.

We had a guy at work that complained that the new owners didn't buy the staff biscuits for their tea break anymore, despite paying him about 2£/hr more so he could buy himself a pkt of biccy's and a new car! It's all relative.

@bearnessecities . . . Was the moderated bit

'mouse c*ck'

Ah bless 😆

I earn over 30k and feel poor - suspect a lot of that is due to having so many mouths to feed and astronomical childcare bills . . . Counting the days until they are big enough to not need so much.

A figure for an income where you don't have to check how much you have in the current account at the end of the month.

I pay my cleaners, driver and cook minimum wage which is plenty for that type of person,surely they would be dangerous with any more!For me though,i wouldn't be happy earning less than £150k.
😉

As many others have said, it's completely relative the where you live, your housing situation, whether you have kids, whether your wife/partner works, how many holidays/cars you feel entitled to, etc.

neilco - Member
Good salary? About 10k more than you earn right now. Simples.

This is the only completely correct answer on here!

When you have one household income, a family to support and the kind of mortgage required to buy a fairly meagre house in the South East to shelter them, £50k is a minimum I'd say. And you still have no foreign holidays and drive a 10 year old car.

Earning £50k in your 20s, with your partner earning the same, would, however, make you feel pretty well off!

Harsh AW, harsh 😀

If you pay more out on dividends and spend out more on items that could reduce your profit there's less corporation tax to pay. Brackets remain the same but you could pay less on tax.
Well, that's true obviously. But isn't really what was said earlier.
He said that breaching the higher rate threshold reduces your take home pay.
And obviously, anyone earning that amount would know that it doesn't
Someone who doesn't understand tax bands, might think that it does though.

Understand-sorry off topic. I focussed on the accountant part. You wouldn't necessarily pay more out earning more on a paye basis but there are definitely advantages by going ltd and an accountant is involved. A good accountant that is. 🙂 cheers.

if at the end of the year you ve done evrything you wanted, piad all your bills and you have £1 more in the bank than you had at the start of the year then that is a good salary..

i ve achieved that for the last 6 years since i gave up my top paying 24/7 role and became self employed and worked for who i want when i want.

money buys relatively little .. time/ family cant be bought at any price

time/ family cant be bought at any price

Plus 1

if at the end of the year you ve done evrything you wanted, piad all your bills and you have £1 more in the bank than you had at the start of the year then that is a good salary..

Not for me it isn't. Want some money in the bank for a rainy day/retirement/emergencies after all expenses.

if at the end of the year you ve done evrything you wanted, piad all your bills and you have £1 more in the bank than you had at the start of the year then that is a good salary..

Don't you want to save up for something? Car, wedding, bigger home, special holiday, 2nd home, yacht....

just a bit more than you spend

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Bottom line is that if you worry about this stuff you'll never be happy

[quote=ronswanson ]Thanks for some of the feedback.
I think deep down I know the offset of a better work life ratio is the only real option but greed keeps rearing its ugly head.
Having got to a salary that is in excess of my age it feels like taking a drop and lower responsibility would be tantamount to 'failing'.
The new salary is by no means poor based on the averages mentioned earlier in the thread but it would be around a 25% reduction which would be going back 5 years..... :-/ . That said I don't get enjoy the role anymore.
If STW had been around 25 years ago, it could have been me writing that. I took a 20% drop by coming off shifts, worked my way through the ranks a bit and then took a sideways move out of management. I don't regret any of it. Both of those major changes resulted in a better quality-of-life that more than made up for any financial loss. The thing NOT to do is take the cut and fail to adjust/take advantage of it.

So long as Income - Essential Expenditure leaves enough for fun things then it's good. If the income isn't enough then you need to change the expenditure.

Having taken out joint income down to about 2/3rds of what it was in 2012 we live in a nicer house, have nicer bikes and a better quality of life.

Most folks have no grip on this at all though do they?
All wrapped up in cosy first world
I mean if you can eat and stay warm it's all good is it not.

Most folks have no grip on this at all though do they?
All wrapped up in cosy first world
I mean if you can eat and stay warm it's all good is it not.

Nope - that's called surviving.

We do actually live in a first world country, some luxuries are allowed - if your nouveau hippie values will stretch to that of course 😉

Threads like this make me remember "knows the cost of everything and the value of nothing".

Surely a good salary is one in which you get to do a job that doesn't make you feel like a miserable robot every day.

Surely a good salary is one in which you get to do a job that doesn't make you feel like a miserable robot every day.

This.

I'm lucky, I get paid a good salary to do I job I love. It is hard graft at times though.

Surely a good salary is one in which you get to do a job that doesn't make you feel like a miserable robot every day.

Sounds like your referring to dull stuff like working on production lines these days - mostly unskilled.

Every thing's a compromise, 'Are the costs worth the benefits?' is the decision everyone has to make. My jobs mostly OK except the travelling but if I work out how much that time earns me - so comparing with my options for more a local job - maybe I think that's not so bad. I would love a more local job but hard to find in my area - kinda niche.

I saw this thread before anyone responded yesterday.
My first thought was I bet there will be a lot of dick waving - not everyone obviously but there'll be a few.
I haven't read all of it but I was proved right within the first 10 or so posts.
People who are happy with their salary don't shout about it - the dickheads who say 'yeah, I consider my 75k plus as comfortable' are the ones who can't wait to tell everyone else about it.

So are you not paid that much then?! I'm on somewhat less than £75k anyway but who cares?

Anyway, I don't see anyone saying what they are on so think maybe you're wrong. The thing is the OP asked the question so people answered, can't really blame them.

I would find it interesting to see what salaries are needed to give a certain lifestyle in different parts of the country but not really going to get the answer to that here.

v. subjective depends the lifestyle one aspires to and decisions I think...

Some people fill their car up at a motorway service station... definitely a cost vs convenience thing .. like a lot of things ...

Money's like oxygen. Only important when you don't have any.

I could be earning more. But I work 15 minutes from home, and have a lot of freedom. Having suffered miserable commutes of an hour plus in the past, being stuck at work for two hours after everyone else has left and then getting a kicking the next day for being two minutes late, I've come to the conclusion that money isn't the major consideration once you're getting by.