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AIBU?

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Original poster

To think getting less than 50% of your pay is crazy?

342 replies

rampe · 08/10/2024 15:51

If someone earns £15,000 a month. They have a student loan. They pay in 10% into their pension.
They take home less than £7,000 a month.

OP posts:
ClareCottage · 08/10/2024 15:58

I’m going to buck the trend and say I agree. I don’t earn anywhere near that but objectively regardless of how much you earn it is crazy that you would only take home less than half your salary.

I am trying to reduce my hours because am on a tax borderline and the increase in tax just isn’t worth the extra hours I’m working.

HouseMoveHopeful · 08/10/2024 15:57

EddyF · 08/10/2024 15:55

Lol OP; there is so much jealousy on this site you are unlikely to get any sensible answers. Every thread about money/high earners, the energy is just crazy.

The tax system in this country is just awful.

Don’t care someone is earning more than me. I do care if they moan they’ve got to pay off a loan they took out to be able to pay more. I do care they moan about having to pay 10% into pension- because 1) they don’t have to and 2). It’s an investment in their own future.

DogInATent · 08/10/2024 15:57

£84k/year take-home.

Somewhere a tardigrade weeps gently for you as it plays a stringed instrument on one shoulder.

HaPPy8 · 08/10/2024 15:56

£15000 a MONTH?!! I don’t think there can be many with this worry!

WiserOlderElf · 08/10/2024 15:56

Well with a salary £15k a month it isn’t going to take long to pay off your student loan, so that’s a short term issue. Also, very very few graduates are going to start on £15k a month, so I imagine they’d have paid most of it off as they worked up to £15k a month. My DH earns slightly less than that but he paid off his student loan years ago.

VanWeezer · 08/10/2024 15:56

Halfemptyhalfling · 08/10/2024 15:54

I think OP maybe meant per year?? But no student loan until £27000 pa so perhaps not

Edited

It couldn't be a year. You don't pay student loans until you earn around £25000 a year depending on the plan.

10% pension is a lot too.

doodleschnoodle · 08/10/2024 15:56

Why are you including pension in money that is being 'taken off' them?

EddyF · 08/10/2024 15:55

Lol OP; there is so much jealousy on this site you are unlikely to get any sensible answers. Every thread about money/high earners, the energy is just crazy.

The tax system in this country is just awful.

HouseMoveHopeful · 08/10/2024 15:55

Halfemptyhalfling · 08/10/2024 15:54

I think OP maybe meant per year?? But no student loan until £27000 pa so perhaps not

Edited

No one on £15k a year is paying off their student loan yet.

dawnc27 · 08/10/2024 15:55

Halfemptyhalfling · 08/10/2024 15:54

I think OP maybe meant per year?? But no student loan until £27000 pa so perhaps not

Edited

dont think so as dont think repayments kick in at that amount

PlayDadiFreyr · 08/10/2024 15:55

They don't get less than half their pay.

About £3k of their salary is diverted to a) a debt they incurred and b) their future savings.

I'd hope someone earning almost 200k would be smart enough to understand that and mature enough to handle that to be quite honest.

Halfemptyhalfling · 08/10/2024 15:54

I think OP maybe meant per year?? But no student loan until £27000 pa so perhaps not

TickingAlongNicely · 08/10/2024 15:54

At that salary I'm sure the student loan will soon be paid off.

Meanwhile a nurse could have the same loan and take decades to pay it off.

Which is fair?

dermalermalurd · 08/10/2024 15:54

If you took a zero off the figures, I might have some sympathy. Otherwise, is this post supposed to be goady or are you really that insensitive?

dawnc27 · 08/10/2024 15:54

15k a month? ok yeah its heavy but surely not long til student loans paid off, short term pain for long term gain and im sure that degree gained is part of why theyre earning so much

ThatsNotMyTeen · 08/10/2024 15:53

oh boo hoo, how will anyone possibly survive on £7k a month?

YABU

HouseMoveHopeful · 08/10/2024 15:52

Cry me a river. Imagine having to pay off A LOAN and INVEST in your own future and have £7k a month left over.