“100k isn’t a big salary”

[cadburyegg]

I’ve just logged onto instagram and YET AGAIN a post comes up headed “100k isn’t a big salary, here’s why”. I’m so sick of seeing it. Most of us earn nowhere near 100k. I don’t spend my time moaning on instagram about how hard done by I am and there aren’t news articles about it. I don’t even feel like I AM hard done by. I feel lucky to be earning less than half that and to have a reasonable flexible job. I’m not going to the press saying poor me poor me because I don’t feel sorry for myself. Yet there seems to be shitloads of “awareness” posts about how shit it is for high earners and how it’s so sad they don’t have free childcare. I know people can have high expenses and I know it’s all relative and I’m probably overreacting but I seriously do not care anymore. It doesn’t mean the salary isn’t high. I’m so sick of seeing these out of touch posts. 🤯

I’m sorry but I just don’t see how they can

But that doesn't alter the fact that the majority of people earn less than that. Objectively it is more than the majority earn and is therefore a lot of money. You are spending it all because you are buying things other people can't afford which is fine but at least own it.

Okay. Nothing to be sorry about

So you know several people sending 4 children each to private school in London, where fees average in the region of 20k (on the low end) per child, per year.

I mean mathematically it’s just not working is it?
Are they living, eating and housing themselves on fresh air? The education alone is enough?

100k take home after student loans and a very basic pension contribution is 60k a year. Even with 2 100k incomes the math still isn’t mathing.

And?

I do live in an expensive area.
I do understand the tax system.
I am jealous (sorry, I know it's a bit crass and not something people usually admit to... and I'm not wild-eyed with bitterness and resentment, but yes, I am a bit jealous... because I'd like my family to have more money!!)
My dh and I both work very hard, but in jobs that don't attract high wages (Our household income is around half of the figure the op is talking about for an individual)... I'm sure someone will point out that we should have made better career choices, but life and the stuff that happens in it, led us to where we are now.
The title of the thread is, '£100k isn't a big salary', well with only 5% of the country earning £100k (or more), it is objectively a big salary (especially in comparison to the other 95% of the country!)

I can’t see how a single £100k income in London could fund 2-3 sets of school fees.

Even very conservatively saying £18k a year per child.

£100k after tax max amount is £68400.

And they’re spend £52,000 on school fees?

Even with two it would be >50% of your income - and not leave much for a rent for a family of four + all living costs.

I am truly regretting the hyperbole. The way you have all fixated on the “four children” and won’t give me peace. I have explained that specific number was an exaggeration but yes I know two-parent households with 2-3 kids in private school (primary mostly, although one with a kid about the start secondary, also private). Their salaries are in the £100k BALLPARK (which means there is higher ends of this range). Not explaining this shit again.

And people are saying it's not a lot. In fact it's what this thread is about.

I think every working adult would be aware that a 100k salary is not the take home amount, and I expect the majority are also aware of higher tax thresholds. Do they know exactly what they are, maybe not, but they don’t need to because it won’t affect them. Just like some high earners will have no idea how UC works because they have never claimed. That’s not an insult to their intelligence, they’ve just never needed that understanding in their lives. It’s incredibly patronising to assume that the poor lower earners have no idea about higher tax brackets. People posting “oh well they’ll only get X after all these deductions” isn’t the gotcha they think it is.

Toxic thread this.

Where did EYE say anything about single households? I even specified we are clearly talking about two-parent households. Lawdamercy.

This is where you’re incorrect actually.
Often the 100k salary is spending their income on the same thing as a lower earning family but if they are younger they will be paying several times more for the same housing.
If you bought in my street 10 years ago it was 300k, if a couple buy today it’s starting at £950k and that’s a small 3 bed terrace. So while people love to through out “stop spending your money on things that are so expensive” actually that standard of house has almost always been considered a modest family home. It’s just that people not buying in the 2020’s can’t fathom what a £3.5-4k mortgage actually gets.

The title of the thread is, '£100k isn't a big salary', well with only 5% of the country earning £100k (or more), it is objectively a big salary (especially in comparison to the other 95% of the country!)
I don't understand why people can't accept this instead of listing their expenditure as if the rest of us don't have to pay for those things.

But two 100k incomes can’t afford that level of spending either?
So it’s pretty disingenuous to say you know several people on 100k incomes sending 4 children to private school if actually it’s another much higher earner making that possible

Yes but the people on lower incomes also have housing costs.
[Bangs head on wall]

On come on now it’s two earners on the higher end of 100k.
Maybe don’t make up totally outrageous statements if you’re going to get annoyed when you’re called out on it.

You don’t know that those earning that amount know nothing of UC. I bet there will be an awful lot who do and have managed to secure themselves high paying jobs. Should they feel bad about it? I wouldn’t and I bet you wouldn’t either if you earned that amount. In similar threads it was quite clear that a fair amount of people had no idea how taxation worked or what a take home wage would be on a similar amount of.

An people have argued that it’s not dependent on where you live and what your circumstances are

No we’re not exhausting, we’re making the point that those parents are not paying for 2-3sets of school fees (nice reduction from 4 there) on a combined salary of £100k - they are using some other source of income.

Just admit you were wrong, rather than going on a silly attack, or go do something else.

Of course they do, but there is huge difference in housing costs based on when you bought or which area of the country you live in.
Not sure why you’re taking such an issue with that?
If you are buying now your mortgage if often 5 times that of someone in the same property type on the same street due to inflation and interest rises during the last few years.
Younger people aren’t all paying huge mortgages because they have bought huge properties, they are incurring huge mortgage costs for the same little terrace most people bought for 1/3 or less of the price.

I love how it’s gone from 4 kids on a 100k salary to 2 kid on 2x 180k salaries!

@cadburyegg A couple of things I would say to your OP.

1. You must be stopping by them (enough to read them)and that’s why you keep getting them

2.There are people who believe that 100k isn’t that much (I am one of them - circumstances dependent). I understand that you feel like it might be but some people just don’t. Now I can’t speak to the intention of the post but it could a few things. It could be that people have worked hard to get there and they are disappointed with how their salary doesn’t stretch as far as they thought. It is well known that 100k in our parents generation (boomers) doesn’t govern you the same quality of life now. Just because you don’t relate it doesn’t mean that there aren’t people who do. And also I don’t subscribe by the attitude that people who earn more than me can’t complain about their life. People are entitled to their feelings and their view of the situation. We also don’t known expenses. Maybe they are taking care of elderly parents, or disabled family members which always requires more money. Just scroll past it and don’t think about it. Those posts will appeal to some people and that’s ok.

@Simplynotsimple100% what you said. People who have big houses, holidays abroad, expensive clothes etc are not struggling, they are just not getting the even fancier lifestyle they think they are entitled to. Those same people usually call the less well off greedy and entitled for wanting the odd day out or takeaway pizza with the kids.

Are you suggesting everyone on 100k has a big house, holidays abroad and expensive clothes though?

It takes a 100k income to service the mortgage on my 2 bedroom flat, it’s certainly not leaving money to saving for a big house, expensive clothes etc.