to believe the Mumsnet High Earners?

[LigPatin]

Every time there's a thread about earnings, there's always multiple posters who claim that most people on the thread must be inflating or plain lying about their salaries.

Whilst I recognise that people lie, especially on anonymous forums, I find it quite sad that people prefer to dismiss these posts as lies rather than take inspiration/education from them (or just not care).

I come from a poor background - we never had enough money to the point that food and electricity use was rationed. We weren't on the streets, but that was a looming possibility. We lived (mostly) within the midlands.

I fell into nannying as a career (having dreamed of being a primary school teacher) and my first job was in Kensington. The housekeeper had been gossiping about the rent on the house we worked in - it was £3k a WEEK. This was 2012-ish. I remember wondering how on Earth anyone could afford paying £200k+ a year on rent alone, when - in my mind - earning just £50k was amazingly rich.

I remember walking through Kensington and Knightsbridge and Chelsea and seeing thousands and thousands and thousands of these houses, all huge and grand and all presumably commanding similar rent or sale value than the one I worked in. They were all clearly lived in and used.

Perhaps it was arrogance, or naivety, but I figured that if there were enough people who could afford to pay £1k, £2k, £5k+ a week on rent (or buy million pound houses), then there must be a lot of money out there to be earned, and I couldn't see any reason as to why I couldn't find a way to get a share of that money.

That's sort of how I feel about these earning threads - hundreds of people are posting about their high salaries and instead of scoffing that they must be sad-sacks who hang out on Mumsnet to lie about their lifestyles - I think it's inspiring and encouraging to see so many women out there making amazing money and securing their futures.

FWIW - I was 21 back in Kensington, amazed at the £3k a week rent. I'm coming up to 30 now and my average yearly income is about £120k. I remind myself every day of how lucky I am, and how 21 year old me would have been incredulous. Though I'm, of course, absolutely nowhere near being able to rent a £3k a week house

That’s an excellent point @XingMing.

Despite the comments on here OP genuinely well done. Do you mind me asking about the small business you set up and how you made a start?

@wesowereonabreak

*to add, I want the same rate, so I am happy to pay more in total. I disagree with a higher percentage for some!

The problem is that the wages gap is so huge that it's not possible to set a flat rate that can apply to everyone, raise as much money as we currently need to run the economy (and we spend more than we raise already, hence government borrowing), and still allow the lower earners to eat.

I appreciate your motivation here is not that you should pay less, and that you personally are happy to pay more in the interests of a fair rate.

The problem is that the people on the lowest wages simply can't accommodate an increase, so the flat rate is set not by what you, who can afford an increase, can pay, but by what they, who cannot, can.

But if you reduce the rate paid by everyone (in this case, literally every one else) to what is an affordable rate for the lowest paid you reduce the tax take by billions. I don't have the figures, not even a rough idea, but I'd be very surprised if we end up with even as much as 10% of the current take. I'd not be very surprised if it's less than 1%

Obviously, you could increase the flat rate but bring in tax free bands and other sliding scales so the people who are already paying as much as they can at the lower end don't carry as much of the burden...and indeed that's exactly what we already do, and that's why we do it that way

I am a NHS Consultant in palliative medicine...I will never earn the sort of money that could pay those rents no matter how “incredibly hard” I work...I already work incredibly hard, my salary is fixed as a public sector worker and my specialty doesn’t (nor should it in my opinion) lend itself to private practice. To imply that by knowing that there is a lot of money out there and setting my mind to getting a slice of it then I might succeed is naive to say the least...

@Saturdayrabbit42

I am a NHS Consultant in palliative medicine...I will never earn the sort of money that could pay those rents no matter how “incredibly hard” I work...I already work incredibly hard, my salary is fixed as a public sector worker and my specialty doesn’t (nor should it in my opinion) lend itself to private practice. To imply that by knowing that there is a lot of money out there and setting my mind to getting a slice of it then I might succeed is naive to say the least...

I suspect you are naive to think you are not well paid, you may not be able to rent in Knightsbridge but that doesn’t mean your slice isn’t more than your share.

More than her share?? Should everyone's share be equal, then, regardless of contribution?!

I was a high earner. I had two kids very close together (15m age gap). Nursery was nearly £100 a day. I invoice in arrears. Hopefully paid within 28 days. That meant having to find over £4K of post tax money to be able to finance starting work, then either leave work early/start work late/catch up at night. I went part time. Paying higher tax meant that nursery was an even higher post tax cost.

• nearly £100 per child

I didnt say I wasn’t well paid...I am more than content with my salary and with the great job satisfaction and I love my job very much...but setting my mind to earning enough to pay those rents wouldn’t make it happen no matter how hard I tried...apologies if I implied that I didn’t feel I was paid enough

@Saturdayrabbit42

I didnt say I wasn’t well paid...I am more than content with my salary and with the great job satisfaction and I love my job very much...but setting my mind to earning enough to pay those rents wouldn’t make it happen no matter how hard I tried...apologies if I implied that I didn’t feel I was paid enough

I knew what you meant. I think it was clear and I agree with you.

@Pedalpushers

I prefer to take inspiration from people based on their specific achievements and what they've done to improve the world or help others. Being inspired by someone's salary is a bit sad.

Yes.

Not everyone has any desire to earn such a high salary so it's hard to find it inspiring really...

I just think that statistics are more helpful than a thread composed primarily largely self-selecting respondents and fantasists.

Knowing that around 3-5% of the UK population earns 100k, for example, tells me that it's possible (that's a couple of million people, after all), but also gives me realistic expectations by telling me that MOST people do not earn that much.

A thread full of people saying they earn over 100k doesn't really help in any other way, but I'm guessing it does make a fair few people feel inadequate, as if it's a super easy thing and somehow everyone earns way more than them.

@Ridgere
Agree. If you read MN you could be forgiven for thinking about 30% of the population earn at least 100k. and the rest are too lazy to work hard enough for it Since the RL figures are, like you say, 3-5% and average wage is 30-38k there is quite a discrepancy.

Agree with this

It’s the same with areas. The 3-5% aren’t going to be spread equally over the U.K. I’m local to Sevenoaks and Tunbridge Wells. I expect a lot more than 5% of those living there are higher earners, so it can seem that more people are wealthy if that’s all you know or see. Other areas probably don’t have any higher earners so it can seem that no one really is and it’s all made up.

Because I grew up in wealthy areas it doesn’t seem made up to me and I’d never think someone was lying or a fantasist, because I’d find that strange. Although when it’s pointed out I can see it could be true. But still seems peculiar to me.

Sorry, lots of seems in there

@GreyhoundG1rl

More than her share?? Should everyone's share be equal, then, regardless of contribution?!

No it was the poster who talked about getting “her slice”. I was just saying it sounded like she had more than an equal share would be. Of course everybody should be paid differently, the free economy is not perfect but better than the alternative. I just think it is different for someone on the minimum wage to be encouraged to explore their options and aspire to earn more than someone who is already well paid.

Ridgere
Agree. There's always an element of self-selection when it comes to income threads on here. You're unlikely to have lots of posters on comfortably average to middle salaries talking about their average salary that gives them a comfortable but not affluent lifestyle.

Then there's also the fact that quite a lot of people have been brougt up not to discuss money and finances in that sort of way. I've got wealthy friends, but they would never entertain a conversation about how much their house is worth or what their current salary is because they were brought up not to do that.
I'm similar. Unless it's a trusted friend/relative asking a question or advice related to my line of work then I wouldn't be entering into discussions about wealth. Annoyingly, this has led to some relatives deciding that I'm loaded when common sense says a teacher isn't earning a 6 figure salary

It's alarming how many people on this thread have swallowed the lie about big salaries meaning working ridiculous hours, never having free time, etc. I actually think this sort of thing is designed to keep people from working class backgrounds 'in their place'. The reality is often the exact opposite - that the people making six figures really don't work that much at all, because they delegate everything. Yes, they do have more responsibility but that doesn't necessarily translate into a massive workload. It can mean attending a couple of important meetings in a week and getting info to pass on, or passing on info to others.

I have never worked as many hours and had as much stress as when I was working very badly paid, low status jobs. I worked as a TEFL teacher for years and could never get time off for a GP appointment or anything else, and if I did manage to, it was unpaid time off and a hassle to arrange. After that, I worked somewhere that paid over twice as much money and it was totally fine to pop out for things like that. I had flexibility over my schedule and way less stress. I was friendly with a manager who earned about 30K more than me, and she had even less work and even less stress. I know people who work as analysts and 'operations managers' who were on 80-90K by the time they were about 28. They really aren't that clever or hard working at all - they just aimed for this kind of career and feel entitled to that kind of salary because their parents gave them career advice and/or they got good career advance from going to prestigious independent schools.

I know I definitely grew up feeling like 'people like me' didn't get these good jobs. I was never encouraged to aim for something like that, despite getting really good grades at school and having a degree and a Master's from very good universities. People around me were earning 25-30K so I thought that was the norm and I couldn't aspire to more. Believe me, if you come from a well-off family and have a privileged life, you just expect to earn decent money. A lot of it is a matter of expectations and mindset.

@Rozziie I completely agree. I was fortunate to get a scholarship to a private school that completely changed my fortunes and aspirations. Before that I remember thinking of my friend's dad who was a Coca Cola salesman as the epitome of flashy global business life and so many of the girls I went to school with, also very bright and hard working, have ended up in low paid and insecure admin jobs, or on benefits because when you're a single mum on a low income, childcare is totally unaffordable.

High income jobs are never going to be appropriate, accessible or desirable for everyone - but there are a ton of people who might love them and do a better job than the mediocre incumbents (generally richer, whiter and male-r).

In particular, we have to start telling our daughters that sometimes the way to get a really family friendly job is to aim high and be in a good position to set your own terms and lifestyle once/if children arrive.

[quote sassbott]@LipstickLou that’s such a shame! It’s a given that actually at that age, most people have accumulated a wealth of knowledge and experience which is super valuable.
Any transferable skill sets into other industries?[/quote]
Nooo too long in the tooth. I tried the charity sector but I expected commercial practices. Very different to high street retail. Most people are from a whole career in charity organisations. High street unless M & S or JLP are dirty words.

[quote fizbosshoes]@Ridgere
Agree. If you read MN you could be forgiven for thinking about 30% of the population earn at least 100k. and the rest are too lazy to work hard enough for it Since the RL figures are, like you say, 3-5% and average wage is 30-38k there is quite a discrepancy.[/quote]
3-5% earn 100K?