Page 29 | To ask if you have a wage/income that would shock people?

Newmumatlast · 2023-02-27T20:40:07+00:00

Inspired by the tipping hairdresser thread, and a post on there about people having no idea what some people earn with an anecdote about a London cabbie earning twice what his nurse wife did. I just wondered if anyone does a job where people would actually be shocked to know their true earnings based on stereotype- either way. For example cleaner earning loads or lawyer earning very little.

Infinitebows · 01/03/2023 09:44

@Newmumatlast
Interested in learning more about variety of jobs ready for when my kids are older as feel I knew very little when growing up about anything other than regular retail or admin positions

If admin is your thing maybe think about working from home doing bookkeeping for a local firm - that's what I do and earn around £18k working 2 days sometimes 2.5 days per week max (hours always to suit me, can be done anytime) I have no outgoings for those wondering how I manage on that and have rentals also as extra income.

Badromancer · 01/03/2023 09:48

DoodleDoo37 · 01/03/2023 01:30

So I earn - salary plus bonus about 225k per year with pension contributions on top. I could earn more if I went for promotion but I can't be bothered. Household gross income is about 450k but that includes rental income from a property portfolio. I used to spend a lot on expensive clothes make up etc when I was younger - but now I'm happier getting a cheap designer bargain out of tk maxx. I tend to save as much as I can while still enjoying life the way I want to. Kids in private school so that takes a chunk and lots on extra curricular activities for them. House is nice but in no way pretentious could be a lot nicer - worth over 1mm and no mortgage. Property portfolio well thought out and worth millions (but with some mortgages). I don't buy into the whole expensive clothes, shoes and bags stuff anymore. I know I could buy them but I work too hard to pay their prices, instead I save so that as an earlier poster said you can get your freedom sooner and I prefer to spend my money on holidays and experiences and I want to retire early from work. Plus I wasn't born to rich parents, they had to watch money all their lives until retirement when I was working and helped them out, so I grew up not feeling rich but wanting to be and knowing the value of money (I feel guilty sometimes when I think of what my parents earned versus what I earn now) and even today I still don't feel rich, which may sound odd to some on here but honestly in some of the circles I mix in I'm not, I'm below average because they have had the advantage of inherited wealth, I've had to work for mine. I'm not sure what it will take for me to "feel" rich.
My boss doesn't know my wealth and neither do my colleagues as I don't talk about it and when they are boasting about their house price I just stay quiet and smile as I'm worth so much more. Plus the industry I work in is an incredibly jealous one and I wouldn't want people to treat me differently. You wouldn't look at me and assume my net worth for sure but I think showing off wealth in the times we live in now is inappropriate (just my opinion before I get flamed from those who feel they've earned it and want to splash out). I have all I want in life and way more than I need and I am very grateful for that.

@DoodleDoo37 I honestly have no clue how people get to these realms if they’ve not been born into the circle. So well done you. What job pays this kind of money?

On a separate note, I presume posters are disclosing their Gross salary? I’m interested to know how those in the higher tax brackets feel about the taxation? I only know 1 person who earns that level of money and he has lots of Companies registered that do nothing.

Seems employed Carers are one of, if not the poorest paid. It’s shameful. Especially given that we may all need care eventually or know someone that does.

Those looking after Family earning £70pw to be a full time Carer - WTF?

VK456 · 01/03/2023 10:11

A distant family member sexes chickens and earns around £40k pa.

TrickyD · 01/03/2023 10:32

Our financial adviser was amazed at DH’s pension, the biggest he had seen apparently. I am sure there must be plenty of higher pensions around, but we thank heaven for the teachers’ pension scheme. Whether the benefits are still as good I don’t know but the version he is on keeps us in cruises and holidays with kids and grandkids.

Jonesthebones · 01/03/2023 11:06

TrainTucker · 28/02/2023 18:50

Money is a funny thing

My DH has just sat through an hour long call with his mother about what a great new job his brother in law has, how important his job is is and what a high earner he is. We are delighted for his DB (who I guess earns about 75K)

DH earned £750k last year (it was exceptional-typically about £275K). He has never told any of his family this- I imagine they have no idea what he earns but from the conversation I assume they think less than £75K!

Brother in law has a flashier job title then DH (they are both in the same profession). He works for a small local company and DH for an international company. DBILs role in DHs business is on about £275K- the same as him.

What is the profession, @TrainTucker?

Inhouselaw · 01/03/2023 11:39

Badromancer · 01/03/2023 09:48

@DoodleDoo37 I honestly have no clue how people get to these realms if they’ve not been born into the circle. So well done you. What job pays this kind of money?

On a separate note, I presume posters are disclosing their Gross salary? I’m interested to know how those in the higher tax brackets feel about the taxation? I only know 1 person who earns that level of money and he has lots of Companies registered that do nothing.

Seems employed Carers are one of, if not the poorest paid. It’s shameful. Especially given that we may all need care eventually or know someone that does.

Those looking after Family earning £70pw to be a full time Carer - WTF?

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This is me too. We didn’t have much money growing up but my (Asian immigrant) parents were very ambitious for us. I actually wasn’t following their path of ambition but later made my own choice to go into law (which they had strong reservations about because it’s not “family friendly” and tried to put me off). Of course as a women I could only do the ambitious careers that also enable me to take full responsibility for the family!

I don’t mind paying the substantial taxes if that’s what it takes for this country to function and for people to get the support they need. I pay all my taxes in full, I think it was 70-80k last year. I do have an issue with how income and wealth is taxed differently, meaning that people who actually work for their income pay way more tax than people who inherited it or draw an income from capital assets. Our taxation system is supposed to be based on the premise that those who have more pay in more to support those who have less, but that is far from the case.

fairycakes1234 · 01/03/2023 11:59

Biilie82 · 28/02/2023 19:12

How on earth do you know how much everyone around you earns? Maybe they avoid you because of your attitude?

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Agree, and why do you all look scruffy?

Magentax · 01/03/2023 12:06

I don’t mind paying the substantial taxes if that’s what it takes for this country to function and for people to get the support they need. I pay all my taxes in full, I think it was 70-80k last year. I do have an issue with how income and wealth is taxed differently, meaning that people who actually work for their income pay way more tax than people who inherited it or draw an income from capital assets. Our taxation system is supposed to be based on the premise that those who have more pay in more to support those who have less, but that is far from the case.

I agree with this. I earn really well (160k) but I am very harshly taxed on it, I receive no child benefit and got no help with childcare. That's actually fine I don't need the help and can afford the tax.

I do find it very irritating however that our tax system is so slanted towards income rather than wealth. There is zero reason for this other than vested interests of those in power who tend to have lots of inherited assets. I also object to the fact that lots of my taxes are really going to the shareholders of huge employers as instead of forcing employers to pay a reasonable wage we instead subsidise these wealthy business owners via tax credits.

ThisIsPlanetEarth · 01/03/2023 12:35

Kafkascat · 28/02/2023 08:56

I'm flummoxed to see how many band 7 NHS nurses there are on MN. Are there no band 5 ward nurses anymore ?

I'm a part time band 5 nurse over 30 years qualified, working in a critical care area.
I need to double check exactly but last year I'm sure I earned around £19,000 or less in my permanent job. Do bank shifts and now occasional agency for extra money.
Regularly work 12 hour nightshifts and weekends.

Original poster

Newmumatlast · 01/03/2023 12:59

Inhouselaw · 01/03/2023 11:39

This is me too. We didn’t have much money growing up but my (Asian immigrant) parents were very ambitious for us. I actually wasn’t following their path of ambition but later made my own choice to go into law (which they had strong reservations about because it’s not “family friendly” and tried to put me off). Of course as a women I could only do the ambitious careers that also enable me to take full responsibility for the family!

I don’t mind paying the substantial taxes if that’s what it takes for this country to function and for people to get the support they need. I pay all my taxes in full, I think it was 70-80k last year. I do have an issue with how income and wealth is taxed differently, meaning that people who actually work for their income pay way more tax than people who inherited it or draw an income from capital assets. Our taxation system is supposed to be based on the premise that those who have more pay in more to support those who have less, but that is far from the case.

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agree with you 100%

OP posts:

3WildOnes · 01/03/2023 13:02

saffy2 · 01/03/2023 06:53

I earnt £27k in one year working only 3 days a week as a childminder legitimately within my numbers. Do you even know what you’re talking about?! 😂
childminding can be very lucrative and I have always earned well while doing it. If you limit your outlay and work to capacity it’s easy to make good money. If I worked to full capacity 5 days a week, hired an assistant etc I could easily be over 50k in the year. I choose not to.
full time at full capacity for me 5 days a week would bring in £780 a week, with each child doing 40 hours a week. In reality they would actually do more. And that’s without any after school children. That would equal roughly 37k a year before expenses. Without any after school children and only working 8 hour days, so in reality I would earn much more if I went for full capacity 5 days a week and added in after school children too.
you don’t know what you’re talking about.

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My childminder charges £80 for a full day. She could earn quite a lot if she had three little ones full time. Even more with a few after school.

thefizz · 01/03/2023 13:14

Very fortunate and thankful here. Recently (early) retired senior CS. Disposable income p.m. after all bills groceries and so on is 3k per month. I also got a six figure tax free lump sum on early retirement.

I worked hard for it, started at the lowest grade available at the time and worked my way up. Got a CS funded University education too which my parents could never have afforded for me back in the day.

No kids, no mortgage helps. But I spread my bounty around and polish my halo regularly. Thankful and blessed.

Heather2000 · 01/03/2023 13:47

I recently signed a publishing agreement for my first novel. Constant comments from (lovely, supportive) friends and family about taking them all out for dinner, drinks are on me etc. Advance was £600. A recent article said the average wage for authors is £7000 a year, which is why most authors also have a full time job. People also don't realise the advance has to be earned out, you don't get paid any royalties until the royalties accrued go over the amount of the advance.

Big, celebrity names who mostly use ghostwriters and get paid ridiculous advances mean everyone thinks all authors are loaded!

I'll probably earn about 60p per copy sold in a bookshop, far less on any sold on Amazon, so hopefully it'll sell over 1000 copies and earn out the advance. If not it's unlikely I'll get published again!

Watchinglionking · 01/03/2023 13:57

Magentax · 01/03/2023 12:06

I don’t mind paying the substantial taxes if that’s what it takes for this country to function and for people to get the support they need. I pay all my taxes in full, I think it was 70-80k last year. I do have an issue with how income and wealth is taxed differently, meaning that people who actually work for their income pay way more tax than people who inherited it or draw an income from capital assets. Our taxation system is supposed to be based on the premise that those who have more pay in more to support those who have less, but that is far from the case.

I agree with this. I earn really well (160k) but I am very harshly taxed on it, I receive no child benefit and got no help with childcare. That's actually fine I don't need the help and can afford the tax.

I do find it very irritating however that our tax system is so slanted towards income rather than wealth. There is zero reason for this other than vested interests of those in power who tend to have lots of inherited assets. I also object to the fact that lots of my taxes are really going to the shareholders of huge employers as instead of forcing employers to pay a reasonable wage we instead subsidise these wealthy business owners via tax credits.

Really good point @Inhouselaw and @Magentax. I'm in the same boat. High earner from regular background and worked hard to get there (corporate lawyer). Happy to pay my taxes but do find it unfair how we're taxed heavily and more harshly than those with inherited wealth.

bellswithwhistles · 01/03/2023 14:07

Salita · 28/02/2023 18:50

My 21 yr old son got first job in London as equity trader on £68,000 plus annual bonus. Next year will be over 100k+

More than his Mum & Dad earn!

Tbh though that sounds quite low. My bf at the time back in 1995 started on £80k as a trader. That's nearly 30 years ago. I would n't do it for all the money in the world - utterly soulless and destroying. He was lucky to get out in one piece ('retired' age 35 with a few million and he now doing a 'regular' job)

pippinsleftleg · 01/03/2023 14:15

Infinitebows · 01/03/2023 09:44

@Newmumatlast
Interested in learning more about variety of jobs ready for when my kids are older as feel I knew very little when growing up about anything other than regular retail or admin positions

If admin is your thing maybe think about working from home doing bookkeeping for a local firm - that's what I do and earn around £18k working 2 days sometimes 2.5 days per week max (hours always to suit me, can be done anytime) I have no outgoings for those wondering how I manage on that and have rentals also as extra income.

Can you tell me which qualifications (if any) you took.

this is also on my list of things I could do (I currently work in finance, non qualified)

Infinitebows · 01/03/2023 14:33

@pippinsleftleg
Hi, I have no accounting qualifications. It's all I've ever done since school (actually lying there - I did 5 years legal secretary) but since then started work for a local building/groundwork's firm, I picked up how to do payroll, VAT, CIS and generally accounting from lots of googling and calls to an accountant friend. I wouldn't even say my job is particularly skilled...if you have a decent accounts package it mostly does it all for you, you just need to know the basics of entering information on to it. I probably play it down what I do but if I can do it, trust me, anyone can 😊

pippinsleftleg · 01/03/2023 14:38

Infinitebows · 01/03/2023 14:33

@pippinsleftleg
Hi, I have no accounting qualifications. It's all I've ever done since school (actually lying there - I did 5 years legal secretary) but since then started work for a local building/groundwork's firm, I picked up how to do payroll, VAT, CIS and generally accounting from lots of googling and calls to an accountant friend. I wouldn't even say my job is particularly skilled...if you have a decent accounts package it mostly does it all for you, you just need to know the basics of entering information on to it. I probably play it down what I do but if I can do it, trust me, anyone can 😊

Thanks, that’s really helpful.

I’ve only ever done accounting roles and definitely pick up knowledge on the job rather than formal training.

Cococomellonn · 01/03/2023 14:48

Sotiredmjmmy · 27/02/2023 22:02

£30-40k is very average and typcial for solicitors that are employees rather than partners. Yes some earn way over that but the average is in that ballpark

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What are you basing this on @Sotiredmjmmy

Are you a legal recruitment agents? Some of the agents produce average salary info for different areas of all and areas.

I am a solicitor and have many solicitor friends in the commercial area and we all earn £50k+, in fact a few of us well over that, (outside london), not partners, qualified 3-10 years PQE

At my from newly qualified solicitor starts on £40k - not london or one of the top tier firms!

eurochick · 01/03/2023 15:02

With regards to tax I don't mind putting a reasonable amount in the pot but I don't think it is always used well! I remember when I was starting out as a lawyer I was earning about 60k. My good friend had been applying to the civil service for ages and getting rejected. She then got a civil service role on a temp basis through an agency. They loved her and made her permanent. The agency accidentally copied my friend on their invoice for "finding her". It was pretty much my annual tax bill. So all the tax I paid that year went to an agency for putting someone into an organisation they had applied to many times directly.

I also resent subsidising the wages of workers in wealthy organisations. A few senior employees and the shareholders profit hugely from that and the rest of us are paying for it.

OMGyoucantbeserious · 01/03/2023 15:15

My friends OH is an Orthopaedic Surgeon. Does lots of private work and earns about £350k p.a. according to her. There's money 'in them bones' !

Honeybee8409 · 01/03/2023 15:21

Shocked at all the salaries in the 100s of thousands despite figures suggesting this is top 1%. And they are all on mumsnet!

pippinsleftleg · 01/03/2023 15:28

@Infinitebows could I ask one more question - what software do you use?

CattySam · 01/03/2023 15:28

@Honeybee8409
I know, funny isn’t it?! Pretty sure there’s some serious tale telling on this thread!

Infinitebows · 01/03/2023 15:34

@pippinsleftleg
Of course ask away... I use Sage £33 pm package - it's far too complicated for what I need but the company I work for used it previously. I say at every single year end I'm going to change to quick books or xero but the thought of starting from scratch and setting it all up fills me with dread if I'm honest. I've heard they're much easier to use. Any opinions?