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Is 42,000 a good salary?

(120 Posts)
RDW1989 Fri 09-Feb-18 22:47:21

I’m 28 and currently earn 42,000. This went up from 33000 the previous year as I had a big promotion. I feel like this is pretty good for my age, but everyone in my profession talks about how rubbish the money is, especially given how hard the work is and the log hours we often end up working (although often from home, evenings and weekends etc)

Salary goes up around £1000 a year until £49000, after that I’d need another promotion but due to planning to start a family soon I don’t see this happening for me for a long while!

How does this compare? Do you think this a reasonable salary?

P.s. I know it’s crude to talk about money, hence posting in an anonymous forum wink

justforthisnow Fri 09-Feb-18 22:50:13

That's an excellent salary in general.
However, where do you live, what do you do, have you childcare costs etc will inform the trajectory of this convo.
Is that sterling or Euro?

justforthisnow Fri 09-Feb-18 22:51:01

I see you've used £ so ignore the question re euro.

StealthPolarBear Fri 09-Feb-18 22:51:10

Well what do you do?? Sounds good to me but if you are an astronaut it does sound low smile

Jaimx86 Fri 09-Feb-18 22:51:42

I thought it was until I earned that (and now more) but it doesn't go as far as I'd like.
There are plenty of recent posts on here about the same topic, and the responses are all subjective. If you live in the south, have friends earning more/similar, you won't feel well off; you like in an area with high levels of poverty, you'll feel like it's an excellent salary.

tellybear Fri 09-Feb-18 22:52:08

what's your profession? what sector? your location? these factors are important.

Lokisglowstickofdestiny Fri 09-Feb-18 22:53:11

Depends on how many hours you are doing and where the job is. 35 hours a week outside London that's fine. In London 60+ hours a week - poor.

SecretDisneyAddict Fri 09-Feb-18 22:53:24

It's a good salary. Well done you -it sounds like you work hard.
But there's more to life than money. Just ensure you enjoy your work and have a life beyond.

Alanna1 Fri 09-Feb-18 22:53:41

Well it’s about double the national average, but depends where you live / what you want. Also you don’t actually say what hours you work for that, either. I do earn a lot more but I regularly do 80 plus hours a week and 100 plus is not uncommon. Yes, that means I do nothing but sleep and work in those weeks! So if you halved my income and I worked 40 hours....

RosiePosiePuddle Fri 09-Feb-18 22:54:33

Me and dh would love to earn that. We have a family and manage on less than your salary combined.

JennyLane Fri 09-Feb-18 22:55:29

My husband earns £50,000 and single handedly supports a family of five with a mortgage and two cars.., no foreign holidays or designer goods here.

A quick google will tell you the national average wage is 20-25k

InDubiousBattle Fri 09-Feb-18 22:55:31

It's well above the national average but it depends on your circumstances. £42k where I live (Yorkshire)as a single person with no kids and no debt would constitute shit tonne of money. Only èarner in a household with partner and 3 children? Not quite so great.

OutyMcOutface Fri 09-Feb-18 22:56:40

It's not a bad salary but I wouldn't think of that as a good salary unless you had just started working properly (i.e. Ignoring working in Starbucks during uni/temping while trying to land a job in your chosen field).

Haudyerwheesht Fri 09-Feb-18 22:56:58

Good salary for your age i would sat but depends on hours and location etc etc

blue25 Fri 09-Feb-18 22:58:33

It's not great in London to be honest. However elsewhere it's a decent salary.

lilly0 Fri 09-Feb-18 22:59:23

It's good average salary in the u.k is 28k

CappuccinoCake Fri 09-Feb-18 23:00:07

If think of it as an amazing salary. Out of the reach of most people, a salary for in your 40/50s for many others so pretty iimpressive in your 20s.

We'd be laughing on that.

RDW1989 Fri 09-Feb-18 23:00:12

I have a PhD and work as a University lecturer. I started my first ‘proper’ job at 24, which may be why the salary seems a lot. Before that I lived off a PhD scholarship which was enough to live off but just about. So going to £30000 (my starting salary) seemed like hitting the jackpot.

I live in a biggish city but not london, smaller even that Bristol, Liverpool etc. I live on the outskirts and drive in, so it’s not too expensive. I save a lot of my salary and was able to buy a (relatively cheap doer upper) starter home. We don’t splash out on expensive clothes, cars, holidays etc. I think because I am still in the poor student mentality.

However I do work extremely hard. There is a lot of pressure to publish. I enjoy conducting research and writing papers, and unless I’m teaching there is a lot of flexibility as to when and where I work so will be useful when we do start a family. But sometimes I worry that if you worked out how much I actually earn per hour (with all of the unofficial overtime I and my colleagues have to do to meet increasing demands) it’s probably very little!

When people complain about the high salaries in industry it does make me question things. But people rarely talk about salary and I don’t really want to ask my friends...

southboundagain Fri 09-Feb-18 23:00:18

"I wouldn't think of that as a good salary unless you had just started working properly"

How many fields do you think have a starting salary of £42k??

Runningbutnotscared Fri 09-Feb-18 23:01:23

It’s better that £41,000 but not as good as £43,000. HTH.

CappuccinoCake Fri 09-Feb-18 23:01:23

I think that's pretty good. Average teachers stop about 33grand unless smt so way above that.

HolyShet Fri 09-Feb-18 23:02:07

It depends what you have to do for it
And what you have to do with it

MajesticWhine Fri 09-Feb-18 23:02:23

It’s a decent amount. Depends on how many extra hours really. Don’t get too bogged down in what other people think.

JennyLane Fri 09-Feb-18 23:04:31

@RDW1989 before kids I worked in social services. My wage was half yours with countless hours of lunch breaks worked through and hours before and after work. It was a challenging and intense job and I was verbally abused most days and physically abused (even whilst heavily pregnant) other days.

Yes. You earn a good wage. Kudos for saving. Awesome. Your life is great. Enjoy!

InDubiousBattle Fri 09-Feb-18 23:11:00

£42k at 28 in academia is an excellent salary, certainly among the highest I've heard of for someone of your age. Do you have a Fellowship?

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