London salaries is 60k ok or not high enough

[00077k]

DH and I are both on 60k gross salary in our 40s living in London. Dont usually talk about money with our families but after a rather boozy sunday lunch, my parents have basically suggested that we really should be earning more at our age. For those of your who live and work in London - would you agree that 60k salary just isnt that much? I think this was in part said in comparison to my sibling and partner who are on 150k each.

In my 60s I was earning 30k a year working as a nurse in central London with 30 years experience .

Ffs, your parents have no manners. 120k not enough of a household income for them? They should keep that to themselves. It's more than the vast majority of households even in London.

It sounds good to me.

My starting salary in London was 20k about 20 years ago. Professional field. This post reads a bit like a stealth boast OP I’m afraid. 120k gross for two people is a decent amount of money unless you want to live somewhere like Kensington!

It depends what you do, surely.

My dad just constantly feels the need to be pushing me to earn more. I'm in my 50s! He grew up very poor, but has become quite comfortable and he just feels every opportunity should be taken to make yourself (more) financially secure.

If you're happy doing what you're doing and you like your lifestyle, have a bit of security and retiremnt plans, then it's enough.

You cannot measure success or value of a job based on the salary and quite obviously £60k is a good salary by anyone's estimation.Parents sound rather obnoxious.

Ugh your parents are horrible people! Ignore them OP. Over privileged springs to mind.

Dh and I were on 40k each in London and considered ourselves easily comfortable.

i was band 7 nhs so on the top end of nhs wages.

120k household income is above average, even for london.

Totally agree @yikesanotherbooboo, and at a time where many people can't afford energy and food! If my parents said that I'd tell them where to go!

Your parents have said something coming from a place of love. Doesn’t mean they are right.

If you have been in the same company for years, you might find you are being underpaid. It’s up to you if this is acceptable or not. If you are financially comfortable, have a good work life balance and enjoy your work, that is worth an awful lot and I would understand you not moving to a new company. Also, £60k a year with a good pensions such as the civil service pension scheme is more like £90k+.

The median salary for someone aged 40-49 in London is £42.5k for what it's worth. Absolute numbers don't really matter though, if you can afford to live comfortably and save a bit on what you're bringing in then there's no problem.

It depends on your industry. In law, consultancy, financial services and assuming 20+ years experience you could be commanding more. In hospitality, education, the arts, healthcare perhaps not (obviously in both cases depending on exact role before people jump on me)

£60k is a good salary and if you are comfortable what does it matter to others what you earn? I'm mid thirties and I COULD be more senior than I am but I don't need more money right now and I enjoy my current work life balance.

I don't understand these types of post. A quick Google will show the Op the average UK salary. Which is (surprise surprise) well below what she and her partner earn.

It depends what your job is OP. If you’re teachers then that’s a decent salary. If you’re barristers then I would expect you to earn more.

It’s a ridiculous comment from your parents but an equally ridiculous question to ask on MN with no context.

I live very comfortably in London for less than that as a single mum.

Surely it all depends on your expenses?
It’s too low to buy a family home in 2022 especially if you have DC.
But if you’re already homeowners, have enough money for what you want. What’s the issue?

Also depends on your profession.

Depends.

How long is a piece of string?

What exact job do you do? What sector - private, public or third? What other benefits do you have e.g. career average pension? 6 weeks holiday a year? etc.

@OperaStation well said! @00077k you've provided no context as to what careers you both have so like the above poster said, if you're both teachers then that's considered a good salary but not if you're a barrister! It also depends on your outgoings... your sibling and partner earn 300k but do they live to their means and own a yacht for example in which case you may actually be able to save more than them every month!

so the context is that we were talking about cost of living and how I'm worried about rising prices. Sadly, yes my parents do live in the centre. I was feeling a bit low because we have kids and a high mortgage but instead of getting empathy I just got a well you just don't earn enough so sort yourself out. Which first pissed me off and then made me upset. For info, I work in the public sector and when I picked it, the money didn't seem so bad but since austerity that's obviously changed as we've been on pay freezes. So I've been feeling low for the rest of the evening and today but dont feel like I can talk to friends in RL about it.

Your parents comment is ridiculous- your relatives £150k each is exceptionally high and certainly nothing like 'the norm ' -

Most people earn less so yabu or rather your mother is!

I think their point is that with both of us having multiple degrees, I should have money problems and if I do then it's my fault.

we shouldnt have money problems - where is the edit button