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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask what your goal salary is?

601 replies

SmokeyApo · 14/04/2021 14:40

Hi all, just being nosey here Grin

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.

OP posts:
DragonMamma · 14/04/2021 17:45

My current boss is on c£100k with bonus so I’d like to aim for that, which is one rung up on the ladder.

Christmasfairy2020 · 14/04/2021 17:47

I'm the lowest paid in my job 32k. It's secret how much everyone gets. I want 35k

Grumpycatsmum · 14/04/2021 17:48

Currently on 51k for 4 day week. Earned about 2.5 times that about 10 years ago. What I earn now is plenty as have savings and sufficient for pension
Ideally like to be on about 75k as it would better reflect what I do/experience

dobidobidooo · 14/04/2021 17:49

I was always told that your wage should match your age. So 20k'ish in your 20's and so on. I'm 35 at the moment and I earn 25k with benefits that equate to another 8k but I work part time (3 days), and I am in a trainee role (career change) I will expect my salary to go up to 36-40k in 2 years once I have finished training.

WombatChocolate · 14/04/2021 17:49

I’ve always thought of my target in terms of household income. If one earns more, it means the other can cut back a bit.

My target household income is that which gives us the lifestyle we want which includes things like holidays, pension payments which will let us retire at the point we’ve chosen, savings and ensuring mortgage was cleared by the point we chose.

When the target is reached, it means one or both of us can work less.

So we work backwards from the cost of lifestyle and work to achieve that, rather than having a target salary and letting lifestyle be determined by that.

We both work (me not full time) and find work okay but aren’t really interested in promotions or working harder.

Fortunately for us, our target household income has been achieved for the last 15 years. We have the house we want and haven’t had a mortgage for 10 years. We have the holidays we want and our pensions are on track to allow us to stop work in late 50s. We have enough savings to replace cars or the boiler or do some household projects. We have funded the children through independent schooling . Apart from the school fees, we have never spent significantly on anything really but been frugal and cadre full with money and not attracted to material things.

Neither of us seek to earn more than we do now, but as our costs of living fall (with the kids leaving school and uni soon) we will then look to reduce our target salary and work less hard.

I think it’s just a different way if thinking about it. We know what is enough for us and aren’t interested in working to get more than that.

justwant2beamum · 14/04/2021 17:51

Wow what does everyone do for a job?! I'm a solicitor and I only earn £35k. It feels like a lot of stress and qualifications for crap pay - I was sold it as a good career where you will make loads of money which tbh is all I'm bothered about. I mean it would be nice to like my job but I currently hate my job with a shit wage so I'd rather hate my job for a good wage! Any lawyers career changed?! What could I realistically get into and earn better money 😂

WombatChocolate · 14/04/2021 17:52

Justwant, I’d imagine you have the capacity to earn significantly more than £35k by making the right choices about where you work. You clearly aren’t at the ceiling pay for your career.

lifeturnsonadime · 14/04/2021 17:54

@justwant2beamum

Wow what does everyone do for a job?! I'm a solicitor and I only earn £35k. It feels like a lot of stress and qualifications for crap pay - I was sold it as a good career where you will make loads of money which tbh is all I'm bothered about. I mean it would be nice to like my job but I currently hate my job with a shit wage so I'd rather hate my job for a good wage! Any lawyers career changed?! What could I realistically get into and earn better money 😂
what area of law and where?

City and commercial / banking/ insurance law is big bucks.

Criminal / family out of London I'd say you are earning pretty average. Depends on your level of qualification too.

afrikat · 14/04/2021 17:56

I'm currently on £74k and not interested in another jump up. I have a good work life balance and my role is challenging but not overwhelming.

Sleepisoverrated150 · 14/04/2021 18:01

If we had a combined income of 100k I would be very happy. Currently have a combined income of around 66k as I’m PT and we are quite comfortable.

For me I would rather earn less and have a better work life balance than go back FT.

girlofnow · 14/04/2021 18:02

I earn about 50k part time (full time would be 70ish) and I'm in early forties. Absolutely happy with this and no desire to take on any more responsibility!

Hagqueen · 14/04/2021 18:04

£45-50k would be enough for me, I am in my early 30s and on £31k. I live in a poorer area, my salary brings in more than needed to buy an average 3 bed. For me, getting up to my peak salary goal would mean my ideal housing location, plus holidays and luxuries.

Anymore aspirations for a higher salary in my career (public sector) means more responsiblity than I would want.

bungaloid · 14/04/2021 18:05

A nice salary in terms of pension and tax is £140k. You can put away the maximum £40k pension contributions, cap your taxable salary at £100k and avoid tax complications to do with personal allowance or pension allowance loss.

Flappityflippers1 · 14/04/2021 18:06

When I go back to work FT I want to be earning £30k+

I think I will be lucky to get to £50k during my career, but that is sticking with what I love and my passion. I could go into other areas and earn a lot (sales as the main area) but then I wouldn’t get the technical aspects of my role which I enjoy and give me purpose.

CommandoDog · 14/04/2021 18:07

We run our own business - goal income for us is £600k a year...we can dream! Smile

TheRealMrsMorningstar · 14/04/2021 18:10

If you had asked me when I was 16/17 what I wanted to earn at my current age (40's) I would have said 50k or thereabouts. Now, at my current age I would be glad to earn 20/25k and would think that was great. I've been out of work for years (parent carer).

TheGoogleMum · 14/04/2021 18:15

I'm an nhs worker, realistically top of b7 is my likely upper limit (about 47k).

IsAnybodyListening · 14/04/2021 18:19

I'm 38 and on about 22k and Dp 40k.

My next move I am aiming for 30k, however it's all about lifestyle and outgoings isn't it? I'm not really aiming for a goal salary.

I feel very lucky I can buy food without worrying about the cost. Also we have ds16 and dd20 who is back from uni, and can buy them what they need.

When they were very little and I was a SAHM and DP was on 12k a year as an apprentice in his industry (a runner essentially) that was hard and it reminds me how bloody lucky we are now. I'm already planning that when I am mid 40's and the mortgage is gone, to take a sabbatical and travel a bit with Dp. So that's my goal if I had to have one.

notalwaysalondoner · 14/04/2021 18:22

@belle002 I’m a management consultant with a top firm. It is highly stressful with long hours, plus based in London. They compete with investment banks and top tech firms for talent, hence the very high salaries. I have however made it manageable by having strong personal boundaries and rarely work past 7-8pm (norm for many colleagues is 10-11pm) but now I’m expecting a baby I don’t see it working for me any longer.

puppychaos · 14/04/2021 18:24

In my sector I probably won't earn more than £50k. I'm happy with that!

folloyourarro · 14/04/2021 18:25

I said I wanted to be on £50k by the time I'm 35, I had kids young and am public sector. Looks like I should be able to do that by 34 so will need a new goal, I'm not really sure but don't think I could get much more than 70k unless I change my field or go down some kind of director route. I tend to make 5 year plans so not that far ahead yet, civil service grade 6 by about 38 would be good.

unchienandalusia · 14/04/2021 18:28

I've just taken a big cut from £100k in London. V busy role. 3 hours commuting a day.

Now on £50 but wfh with local meetings. So have cut nearly £20k of taxed income on season ticket au pair and clubs etc.

Aim to get back up to £80k or so within 5 years (when I'll be 50).

Gobbeldegook · 14/04/2021 18:38

A one off payment of 20k would be fab. Just enough for a deposit to get on the property ladder.

Mvemjsunp86 · 14/04/2021 18:41

Am mid 30s, London-based and earning around £130k pa. I don't think I have a target salary. What I have does me extremely nicely - I started off on £16k and cannot quite believe my luck. DH earns about the same. We are child-free and intending to stay that way.

Work 8am-6pm. Most importantly, I love my job. I find it intellectually challenging and very worthwhile. Think top salary if I continued in this field would be about £200k or so. But I have done a number of swivels from role to role/sector to sector so potentially there are some future swivels ahead of me which could bump it up further.

Target salary: what I have tbh. And I have my target life too (long may it continue. But who knows what life has in store).

WhoTookAllTheGoodNames · 14/04/2021 18:44

I’m early 30s and until a few months ago I was earning just under £40k, which sounded great in paper but the stress of my job increased intensely over lockdown and covid and my workload more than doubled and my mental health was suffering badly and I was also starting to have physical health problems caused by stress. I was so unhappy. I thought what’s the point of being financially comfortable if I’m not even able to enjoy life.
So I’ve left my profession which took me many years to get established, I’ve taken on a role in a charity sector now earning £15k That’s right - I took a £25k pay cut. It’s not forever, and I do eventually hope to go back into my profession but right now I am enjoying the new role which is rewarding in all other ways but the money! My mental health and also physical health was more important.