To ask what your goal salary is?

[SmokeyApo]

Hi all, just being nosey here

I have been thinking a lot about career progression and asking for a raise lately, and that got me thinking about what my goal salary is. As in, the salary that I would like to earn at the peak of my career (let's say between age 40 and 50).

So I will ask: what would your goal salary be?

I won't share mine for now just because I don't want to influence the answers, but I will happily share it later on.

@notalwaysalondoner

I'm 31 and earn about £150k including bonus, DH about the same. I'm about to have a baby and am quite comfortable taking a career hit to have a better work/life balance, so I wouldn't be surprised if this is my career maximum. In my industry top earners can be earning 7 figures. DH on the other hand is very ambitious and expects to make a lot from shares in his company and wants to be a CEO, so his limit may wind up being huge.

What industry are you in if you don’t mind me asking? All of my friends earn more than I do, sales seem to be fantastic earners but doesn’t suit my personality at all, my lawyer friends earn well but are all really stressed and neurotic. I think real estate/asset management seems to be lucrative but not too stressful, certain finance roles seem to be also lucrative but not the same level of having to be “on” like sales/law.

Family Income goal for both in the next 5 yrs (so we would be in 40s) is 200k, with my target at 50-60k ish. I don't want to earn more as that would involve moving companies but i have good benefits & pension.

Do people actually have family income goals?!
I have literally never had that conversation with DH.

@Bluesheep8

Those of us who earn about the average salary don't post on these threads

I did. I earn below the average.

You must be the exception that proves the rule 😊

Not that it is a rule. Just an observation based on reading many threads about earnings.

These threads always amaze me. I live in an affluent area, mix with many local people through my work/children’s school and nursery and have plenty of friends and family living around here and yet I would say the majority are in jobs where they would be earning around the £30-50k mark which seems like nothing compared to the average wages people earn on here.

Do people actually have family income goals?!
I have literally never had that conversation with DH.

It's more just knowing I want to be in X role which pays X & DH having his own goals. Then you just add the two together. Surely it's quite normal to discuss goals no matter what they refer too?

@GoryGilmore DH works with people who earn 1m plus (top law firm). It's mind blowing really

I earn 13k as a part timer and would earn about 21k full time in my job. I scrape by some months and have no chance of ever saving up enough to buy a house. My goal salary would be enough to not have to hold my breath each time I check my bank account to see how empty it is!!

Also what do people do to earn even 50k let alone 100k+, drug dealing?? Selling any unnecessary organs until you have none left?? 🤣

I would have said £100k plus but the nursery bills are stopping soon so I think I'll feel rich then!

I’d be thrilled with £50k. I live in a fairly cheap part of the country, I don’t want children and my outgoings are low. I went back to university last summer but before that I was on £25k and DH is on £20k, and we lived well with a couple of holidays a year and enough nice things to be happy.

£50k would be very comfortable and I have no interest in working crazy hours with loads of managerial responsibility.

On about £64k now but am due to finish my Masters in July and then get more

@GoryGilmore

These threads always amaze me. I live in an affluent area, mix with many local people through my work/children’s school and nursery and have plenty of friends and family living around here and yet I would say the majority are in jobs where they would be earning around the £30-50k mark which seems like nothing compared to the average wages people earn on here.

It all depends on what's behind that, though. If you have investments or own your home, you could live quite comfortably in an affluent area on a lower salary. My friends who got onto the property ladder (and stayed there!) much earlier than we did don't have the same salary but arguably live more comfortably than we do.

Our mortgage is punishingly high due to bad credit so while my income looks great on paper, we're paying huge expenses just to own our home. Like I said, plenty comes in, and plenty goes out -- the numbers got larger but the lifestyle feels the same.

@Drunkenmonkey

Do people actually have family income goals?! I have literally never had that conversation with DH.

Yes, we do. We know what we need to be earning to retire when we want to retire, and to do what we want to do in retirement. Plus helping the DC with university, etc. -- we know what we need to earn to hit those goals.

We have an IFA who helps us plan that.

It as a single parent and single earner I pay loads more tax per month than 2 people would on half my salary each...

(I should say, £50k from my salary, not combined). I’ll be 33 when I finish university and I should start on around £37k - if I can get the job I want

I currently earn just under 32k and have no desire to go up a band having done it before, so 32k it is for me

I've never had a goal salary. Having said that I'm on a salary now (£86k) that I feel is comfortable. We have a big mortgage, nursery fees to pay and seem to spend a small fortune on food so it never feels like we have loads sloshing about but I have more than enough to live on comfortably.

It's a lot less than I used to earn in a different business to the one I work in now. When I left there I was on £135k but I was miserable so happily said goodbye to that salary for a much lower one (£65k at the time) to be happier and I certainly am!

I suppose in terms of my lifestyle I don't feel a burning need to ever earn more than I do apart from the fact an increase in salary means I am progressing in my career which I would like to continue to do.

£45k ish here and I’m considered very junior at the firm I work for. DH works for a bank and is on a similar salary.
We live in an expensive part of the country and we are comfortable as in bills are paid and food in the cupboards and a paid for car each. But we aren’t ‘well off’ which I consider to be affording several holidays a year, new clothes, cars, multiple activities for children, cleaner, car valet, gym memberships and regular beauty/well-being appointments etc and still putting money away for future yachting and golfing and cruising in our retirements. This is the standard of living of the majority of our neighbours!
Childcare fees stopping in a few months will help.
It’s all relative.

Additionally, I pay about £500-£600 in debt a month, when that’s gone it’ll feel like a huge payrise. Cannot wait!

I’d be happy with 60K post tax income and a manageable amount of stress. In my line of work though you can earn more if v skilled and not have to become a ‘manager’

I’m 44 and think I’ve hit my peak salary. However job is exceptionally stressful and I am literally dreaming about how long I have to sustain my salary at this level for before I can retire early (14 years is the goal....but it seems so long.....) I still have promotion possibility into a c-suite role in my field, but the thought fills me with dread!

We have family income goals. The next one we want to hit is a combined income of 200k. We are a fair way off in current roles but could conceivably hit in the next couple years if things line up.

I’m 38 and my base salary is £42, which is fine to support my family.

I aspire to increasing that by at least £10k in the next 3-5 years which is probably achievable in my current company if not in this role. I haven’t thought further than that, but I’m not willing to get more money if it also means more stress.

I peaked at around £200k over a decade ago before having kids and it’s been a downward spiral ever since. You could literally draw a graph of salary/kids and see the correlation. Finally culminating in redundancy (only working mother in the team, go figure).

I'd love to earn £45-55k but I can't progress any further in my field without additional qualifications, so I'm going to have to study and be patient to get to my desired salary.