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High earners - how do you spend your salary?

988 replies

Citygirly · 21/05/2022 10:03

DH and I earn just under £140k combined.

We do maximum pension payments (his is 9% as NHS) and we also give about 10% a month to charity.

Other than that, we plan to start overpaying the mortgage. We invest £1k a month (so £500 each) and save £1k for holidays. We of course do general/specific savings but then have a good chunk left over for disposable income.

AIBU to ask other high earning households how they tend to allocate their money? Just want to see if we could be using it better or this is about right for comparables.

OP posts:
Topgub · 26/05/2022 19:38

@Robinni

I haven't ranted.

And as I said before it was another slightly off topic comment I initially replied to.

There's nothing in the rules to say that it has to stick 100% to the op, is there?

Why arent you asking others why their not sticking to the op?

As I've said before I'm not replying to myself. People are asking questions, I'm replying. No point starting my own thread when this one is active

Not that I need to justify my comments to you. Youre not the boss. Or maybe you're like the op who wants a private higher earners corner?

I didnt discount nursing because making money isn't a motivator. That is irrelevant to what the role is actually worth in comparison to other higher earning roles

Robinni · 26/05/2022 19:32

@Topgub I’m off with covid… bit bored, as already stated.

I have been through several operations. Some major and I am highly indebted to nurses. Several close friends are nurses.

However I discounted it as a career pathway as I knew the reality of the wage and that opportunities for progression were highly competitive.

There is nothing to deny the worth of nurses to society. But to come on a thread - the subject matter of which is money management for high earners - and start ranting about it, seems strange..

Would starting your own thread not be more purposeful?

Topgub · 26/05/2022 19:00

@Robinni

No chips, no vendettas. I'm not jealous, I'm not bitter. Just opinions that are as valid as any other.

Excess time?

Well you've been commenting as much as me so maybe we both do?

I work shifts. My kids are at school.

But again with the personal remarks rather than counter arguments

Robinni · 26/05/2022 18:53

Topgub · 26/05/2022 15:02

@Lunar27

making better career decisions.

youmean making decisions that lead to more money.

I dont need to make better career decisions. My career is great.

It just doesn't pay well

But I'm a degree educated, highly skilled professional with lots of responsibilities

@Topgub

And several chips on your shoulder.

A vendetta against high earners.

And excess of time to dedicate to replying instantly to a thread.

If you want to have more money for what you do then you should have done postgrad. Or changed tack. Completely within your control 🤷‍♀️

Topgub · 26/05/2022 18:51

@Robinni

Keep reading

I dont need a better position in life. I dont need more money.

That is not the same as knowing my role is worth more than its able to earn.

As you say, if I really wanted more money I could easily retrain and make more money

And yes, I know that capitalism has fucked itself the planet and everyone on it.

Its not me who is defending it. I'm sure though the 1% will scrape through the impending crisis.

And will continue to justify needing to keep 99 % of the resources

Topgub · 26/05/2022 18:46

@Robinni

I have a diploma and a degree and 20 years training in health care but the ability to stir up a hornets nest is entirely self taught.

Always easier to do when people are defensive and don't really have a counter argument

Robinni · 26/05/2022 18:46

Ps if you thought the last global recession was bad with the investment bankers you ought to buckle in….

Robinni · 26/05/2022 18:45

Topgub · 26/05/2022 14:09

@SlightlyGeordieJohn

I absolutely am being ripped off.

Its not a presumption. Your comments align exactly with my view of investment bankers

No one in my home caused a global recession or snorts cocaine while commuting sexual assaults and DV

@Topgub

Plainly, the only person who is ripping you off is yourself.

You clearly want to have a better wage and position in life. But are unprepared to acknowledge wage structures such as they are to work towards a better future for yourself.

If you want more money, train towards something that will provide it rather than attacking the world and all with preconceived prejudices notions.

Topgub · 26/05/2022 18:42

@Robinni

You cannot compare the skill it takes to clean a toilet with the skill and intelligence required to manage complex accounting for example

I havent.

Nothing I've said contradicts doughnut economics either

Having overly inflated higher earners does though

Robinni · 26/05/2022 18:36

Topgub · 26/05/2022 13:28

@dillydally24

If we aren't to pay people in accordance with their skill, revenue-generating capability and hours worked

we dont pay people in accordance to skill, capability* *or hours worked. Thats the point

We pay them in revenue generated capability alone

Which they then keep even though they can't generate the revenue on their own.

They need everyone else to pay the revenue.

Id like to see linked wages. And a much higher minimum wage

@Topgub what exactly are you trained in, other than stirring up a hornets nest, that gives you the ability to make these proclamations?

Minimum wage has risen substantially and caution has to be exercised - particularly at the moment as to raise wages you’re just going to stoke inflation. Then nobody is happy as they’re paying 15% interest on a mortgage and potentially very many people homeless.

You cannot compare the skill it takes to clean a toilet with the skill and intelligence required to manage complex accounting for example.

Arguably we should be moving towards a doughnut economics such as the Netherlands to be more environmentally sustainable.

Topgub · 26/05/2022 18:32

@Robinni

The global recession of 2010 that was most definitely caused by investment bankers?

When the state literally had to bail out banks?

I dont need to have a vested interested in the drug trade to know that coke is the drug of choice of traders

Its fairly common pop culture knowledge

But you seem to have missed the point of my post in your rush to try to offend

Robinni · 26/05/2022 18:26

Topgub · 26/05/2022 13:25

@SlightlyGeordieJohn

Nah, its just your investment bankers robbing the country blind and causing global recession which lead to those in poverty stealing

Just your investment bankers sexually harassing and assaulting their female co workers
Just your investment bankers propping up columbias economy

Just your investment bankers kicking the shit out of their wives.

Or is thar just my prejudice?

The global recession is being caused by a pandemic and an unjust war. Ramping up the cost of living and thwarting globalisation upon which we have come to rely for cheap commodities.

Not investment bankers.

I can assure you that butchers, bakers, candlestick makers and all manner of professions have men capable of sexual harassment and physical abuse.

As for Columbia’s economy, I can’t speak for this as I don’t have a vested interest in the drug trade. Perhaps you know better than I.

Lovemyheathershimmer · 26/05/2022 17:48

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Topgub · 26/05/2022 17:46

This advert for a charge nurse in London is 40k (with benefits like phc and pension contributions)

A band 7 with London weighting is about 45 to 55 k.

orwellwasright · 26/05/2022 17:39

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Merryclaire · 26/05/2022 17:31

@Topgub nurses are criminally underpaid. Every one I have come across recently has been so kind and caring - what would we do without them? I think most people would agree you deserve to be paid a lot more.

This is a very interesting debate. My brother is what most would consider a very high earner. He has a specialist, in-demand technical skill and was a senior manager in his field and recently became a consultant who goes into other companies.

Love him to bits, but he’s always been lazy - always put in the bare minimum his whole life. Scraped through his exams and degree because he was down the snooker hall all the time. Yet somehow landed on his feet.

He rarely does any over time but is just naturally good at his job and everyone seems to like him, so he’s just done really well. Always being headhunted.

I don’t begrudge him as he’s clever and talented, and humble too - he’s not exactly careful with money but he doesn’t splash the cash on status items. However, given how many hardworking people I know on a small percentage of his salary that work a lot harder than him, there is definitely a moral imbalance in the world!

Not sure we can do anything about it, but it is annoying when people have the attitude of high salary = deserving it.

Topgub · 26/05/2022 17:09

@Citygirly

Its not.

The wages are comparable. I dont know what kind of sickness/pension packages they have but I doubt its better.

PHC is trying to make money off of peoples health. Not pay its staff lots of money

Nursing homes (private) pay their carers mw while charging residents 1500 a week.

Citygirly · 26/05/2022 17:05

Topgub · 26/05/2022 16:58

@Citygirly

No.

You think private health care is paying nurses double what the nhs is?

I am not familiar with the differences but I would assume it would be more, but not double.

OP posts:
Topgub · 26/05/2022 16:58

@Citygirly

No.

You think private health care is paying nurses double what the nhs is?

Citygirly · 26/05/2022 16:55

Topgub · 26/05/2022 16:30

I get what you're saying @Lunar27

Have you considered working in a private hospital?

OP posts:
Topgub · 26/05/2022 16:31

Thanks @gotthis @AnuSTart @lancsgirl85

Topgub · 26/05/2022 16:30

I get what you're saying @Lunar27

Lunar27 · 26/05/2022 16:28

@Topgub

No, I'm not implying that at all. I don't mean better, as in better than everyone else, but better personally. I think there's a difference and if you want more then it's up to you to look at options. If you don't want to that's fine too.

Wanting more money isn't a bad pursuit. I was raised on a council estate, by my mum. She was on benefits and we were broke. I never wanted that for my kids as I wanted them to have more options. Unfortunately money provides that so it's only natural to look for something that's better FOR YOU. The fact I get huge job satisfaction is a bonus.

I'm an engineer (aerospace) and engineering pays poorly in the UK, like your sector. However, as soon as I gained some experience I went contracting, which instantly doubled my income. I now run my own business so I still essentially do what I enjoy but with an income I feel is appropriate for the job.

I'm no better than anyone else but my income is better for me/my family. That's all that really matters.

Although I appreciate where you're coming from and think you should definitely be paid more. How we solve that is difficult.

lancsgirl85 · 26/05/2022 16:22

Topgub · 26/05/2022 15:57

@Citygirly

I'm a senior charge nurse

You deserve at least double your salary imo. Nurses are worth their weight in gold and I'd happily pay them 80k a year if I was in charge!