High earners - how do you spend your salary?

[Citygirly]

DH and I earn just under £140k combined.

We do maximum pension payments (his is 9% as NHS) and we also give about 10% a month to charity.

Other than that, we plan to start overpaying the mortgage. We invest £1k a month (so £500 each) and save £1k for holidays. We of course do general/specific savings but then have a good chunk left over for disposable income.

AIBU to ask other high earning households how they tend to allocate their money? Just want to see if we could be using it better or this is about right for comparables.

I know @Lunar27

I was making a point.

There are millions of people on low earnings.

They aren't chucking bricks through peoples windows either.

The idea that higher earners are better people is nonsense.

At sixth form lever 20% go to private schools not the 7% of lower down the age ranges so 30% at Oxbridge from private schools is only a 10% discrepancy which can be accounted for because parents there tend to invest in all senses a huge amount in education so in my view Oxbridge is just about right now for representing the % at private and state schools. Posh comps and state grammars are another story though and those may need to be the ones discriminated against to help those on FSM to rise up.

@Topgub

I agree. I'm no better than I was when I was doing less paid work. The only thing that makes us better people is our personal conduct, morality and behaviour.

Although there is definitely a case of making better career decisions. But it's all playing the game to some extent. Personally I couldn't be a lawyer, accountant or in business as it's just not my cup of tea. So that limits my options but made the best career decision for me, in order to maximize my income and do a job that gives me genuine job satisfaction.

As I said before though, I'm lucky that I can balance both of these aspects.

• Less well paid work

@Lunar27

making better career decisions.

youmean making decisions that lead to more money.

I dont need to make better career decisions. My career is great.

It just doesn't pay well

But I'm a degree educated, highly skilled professional with lots of responsibilities

Does it frustrate you that you aren't well paid? Because that's how it comes across. Also, what do you consider to be "not well paid"?

@Citygirly

Yes it frustrates me that my role isn't appreciated and recognised for what its worth

But there's lots if factors as to why that is the case and I still do it.

I dont consider under 40k to be well paid for what I do.

What is it that you do?

Yes, that's what I meant when I said playing the game.

I didn't mean that you needed to make better career decisions personally but that it's a factor.

@Lunar27

But you're still implying that higher earnings careers are better.

Theyre not.

Not everyone wants to earn lots of money and sacrifice job satisfaction to do it.

Yes I think my role should be paid more and others less but thats not ever likely to happen.

My career is still hugely valuable to society

Society would be fucked without it

@Citygirly

I'm a senior charge nurse

Nurses should absolutely be paid more.
To be honest maybe this is a UK problem.
My sister is a nurse and is planning on moving to the US or Australia

@Topgub You are worth an infinite amount of hedge fund traders, lawyers etc. I am forever indebted to the kindness of nurses at times when we have needed them, like so many. I wish you were paid more too.

You deserve at least double your salary imo. Nurses are worth their weight in gold and I'd happily pay them 80k a year if I was in charge!

@Topgub

No, I'm not implying that at all. I don't mean better, as in better than everyone else, but better personally. I think there's a difference and if you want more then it's up to you to look at options. If you don't want to that's fine too.

Wanting more money isn't a bad pursuit. I was raised on a council estate, by my mum. She was on benefits and we were broke. I never wanted that for my kids as I wanted them to have more options. Unfortunately money provides that so it's only natural to look for something that's better FOR YOU. The fact I get huge job satisfaction is a bonus.

I'm an engineer (aerospace) and engineering pays poorly in the UK, like your sector. However, as soon as I gained some experience I went contracting, which instantly doubled my income. I now run my own business so I still essentially do what I enjoy but with an income I feel is appropriate for the job.

I'm no better than anyone else but my income is better for me/my family. That's all that really matters.

Although I appreciate where you're coming from and think you should definitely be paid more. How we solve that is difficult.

I get what you're saying @Lunar27

Thanks @gotthis @AnuSTart @lancsgirl85

Have you considered working in a private hospital?

@Citygirly

No.

You think private health care is paying nurses double what the nhs is?

I am not familiar with the differences but I would assume it would be more, but not double.

@Citygirly

Its not.

The wages are comparable. I dont know what kind of sickness/pension packages they have but I doubt its better.

PHC is trying to make money off of peoples health. Not pay its staff lots of money

Nursing homes (private) pay their carers mw while charging residents 1500 a week.

@Topgub nurses are criminally underpaid. Every one I have come across recently has been so kind and caring - what would we do without them? I think most people would agree you deserve to be paid a lot more.

This is a very interesting debate. My brother is what most would consider a very high earner. He has a specialist, in-demand technical skill and was a senior manager in his field and recently became a consultant who goes into other companies.

Love him to bits, but he’s always been lazy - always put in the bare minimum his whole life. Scraped through his exams and degree because he was down the snooker hall all the time. Yet somehow landed on his feet.

He rarely does any over time but is just naturally good at his job and everyone seems to like him, so he’s just done really well. Always being headhunted.

I don’t begrudge him as he’s clever and talented, and humble too - he’s not exactly careful with money but he doesn’t splash the cash on status items. However, given how many hardworking people I know on a small percentage of his salary that work a lot harder than him, there is definitely a moral imbalance in the world!

Not sure we can do anything about it, but it is annoying when people have the attitude of high salary = deserving it.

This advert for a charge nurse in London is 40k (with benefits like phc and pension contributions)

A band 7 with London weighting is about 45 to 55 k.

www.mcghealthcare.co.uk/view-job/nursing/private-hospital-sister-charge-nurse/j6816/