I earn a 6 figure salary...

[herehearher]

Just reading another thread and pretty much every post is going on about "6 figure salary" - as if this is some sort of meaningful marker.

But obviously there's a massive difference between someone on £100k and someone on £900k. So by "6 figure salary" are they just essentially saying they earn around £100k? If they earned £250k, how is it acceptable to describe that?

Completely agree with @Itisasecret everyone can get that break or opportunity if they want it. I grew up on one of the roughest housing estates in Paisley. Google Ferguslie Park and you’ll see what I mean.

I worked 3 jobs to get myself through Uni and went on to do my PhD. Both DH and I earn 6 figure sums and he is also working class from a very poor background. It’s not about lucky breaks or knowing people in the right places FFS.

@sst1234 it’s a privilege not to need state support. The majority of people claiming benefits do so when also working bloody hard. If employers paid living salaries there wouldn’t be a need. To imply someone earning 100k is hard done by is madness.

And people in London don’t all earn 100k+ looking at guardian jobs the other day it’s clear that many are on significantly less. That’s why they need state support otherwise who would be carers or cleaners in the capital?

After 100k it’s unthinkable for so many that the difference between 100 and 600k is much of a muchness.

Without sounding snobby 100K is quite normal in both my professions (tech/finance). The starting salary for a London tech graduate in an investment bank can be between 60K - 80K, doesn’t include bonus.In auditing (the supposed ‘least’ prestigious accounting role) the Big4 firms pay a minimum of 70K once you qualify, industry pays at least 20K on top so 100K by 25 isn’t rare. Some of those people don’t even have degrees, they’re school leavers who were hired as trainees and passed all the exams!

Morning Mountain dew good for you. It's a shame all the education you received didn't give you a basic understanding of statistics though.

People on shit wages often work a dam sight harder and longer than those on six figure salary's it's just they never had that break or opportunity

haha this made me chuckle because its so inaccurate. I know people who are wealthy who are complete workaholics and rarely see their family because they are always at work. They have made other life sacrifices in order to have that material wealth.

I also know many people on shit wages who are lazy AF and constantly leave work early or try to skive off at the first opportunity they get.

There are rich lazy people and poor lazy people.

Blanket statements like this are a high indicator of both ignorance and jealousy/bitterness in my opinion.

It’s a different kind of hard when you are a high earner. It’s mentally hard, I am rarely switched off, I mull over work problems on a weekend and on holiday for example, but to say I work harder than a nurse or carer is bollocks, it’s just a different kind of hard.
Earning over £100k is a lot, even in London you aren’t going to make the choice between heating and eating at that level, and that’s why it’s a marker. Plus, it’s a nice round number.

It’s not a privilege but a handicap to need state support. We have a low pay culture in this country because of this obsession with benefits to subsidize low wages. Anytime there is a crisis, the answer seems to be to hand out more money. If low wages were not topped up, employers would have to pay the going rate.

No one should be subsidized by the state to live in London. People in work should be paid their market value by their employer to work in London.

You don't think teachers are nurses never switch off too? You don't think social workers think about their cases when they try to sleep?

I was the first poster on that thread to mention a 6 figure salary. I did so only to highly to the OP that her fears about her kids not going to an RG uni were ridiculous.

I mentioned mythical because talk of 6 figure salaries on MN branched invariably turns to calls of BS.

I earn 108k BTW

I come from a WC background and was THRILLED when i finally tipped over the threshold. I cant brag about it in RL so I mention it here instead.

Still worry about money though, especially with cost of living. But I don't have to go round ASDA with a calculator anymore, and the kids can do extra curricular activities. We have a nice house and a clapped out banger, out holidays are camping.

Shoot me 🤷‍♀️

I think most people mean in the 100-150k mark when they say it - it means you should be on paper finding life financially easy but many are struggling with very high outgoings, arguably overstretched on their mortgage so they don't have the affluent lifestyle you would imagine. We fall into this income category but we are far from rich, that said we are saving £2k a month for retirement, because of our age we need to

I earn 7 figs so everyone is poor compared to me!

Are you using pension contributions to avoid the effective 60%+ tax rate that you get through the loss of your personal allowance?

The OP reads as you trying to minimise an 100k salary as not being much which is tacky considering the current financial situation of a huge chunk of the country.

What's your point?

Assume you’re referring to my post where I clearly said it’s a different kind of hard, but hey let’s nitpick where we can because it’s always a race to be the most badly done to. Presumably social workers and nurses mull over horrors that they can’t switch off from, like I said, a different kind of hard.

Sorry YellowHpok, I didn't mean to single you out any more than anyone else and total respect to you for all you've achieved. But you must admit, the thread was quite funny to read as a whole because everyone is going on about "6 figures". Whereas the OP was asking about RG unis!

@AnaïsM no not currently. I've only just tipped over and have had to get a financial advisor in to assist with what to do next. I find it very complicated tbh. I'm NHS and there are added complications with our pensions that I dont fully understand, but appreciate will bite me in the ass if I don't sort something soon.

Yeah sorry OP I can see I set the tone.

I'm very fortunate to have found a field of work I am passionate about that pays well. It doesn't make me any more worthy than anyone else

In defence of @Itisasecret if her husband works 17 hours 5 days a week he earns £22 ish an hour assuming £100k wage. I work in care, with nurses on £20ph. After tax (assuming the nurses work 40h pw) her husband will have less take home pay per hour than them. So it does seem the high wage 1) reflects the amount of work he’s doing and 2) isn’t dissimilar to a nurses wage, and I’ve never heard anyone complain that nurses are overpaid!

The average salary in London is I think just under £54k how is double that not a lot of money?

Do you think nurses, carers, social workers just switch off?

I’d rather earn £99k for tax purposes

In defence of @Itisasecret if her husband works 17 hours 5 days a week he earns £22 ish an hour assuming £100k wage. I work in care, with nurses on £20ph. After tax (assuming the nurses work 40h pw) her husband will have less take home pay per hour than them. So it does seem the high wage 1) reflects the amount of work he’s doing

This is a good point.

I WFH, am paye, and my role offers unlimited overtime.

I'd be on over £100k if I did 17 hours a day! So it's an achievable possibility that I could pull in the mythical six figures in the next year.

But what a way to live - it's not a choice I'd make for any amount of money.

A perfect example of why lower taxes are good.

This is not true! it’s not about having a lucky break. It can be simply about working your way up and achieving promotions. I work with hundreds of people who have done that.

Saving £2k a month!

That's significantly more than a large amount of mumsnetters take home a month .

Believe me, if you can afford to save £2k a month you are not 'far from rich'.

I would imagine that you think this due to the circles you move in.