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

[Newmumatlast]

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.

@pippinsleftleg sorry forgot to add I use HMRC basic tools for payroll. I did use the Sage payroll package for years but it got too expensive to warrant.

There are also plenty of people talking about their very low salaries, but somehow that is ok/believable. Both ends of the spectrum exist and you only have to have a look at the many, long private school discussion threads to realise that there are many people in the 1% represented on these boards.

Do the income figures giving percentages only include those on PAYE? That would explain it. Quite a few on this thread are self-employed or have income from dividends etc.

@Inhouselaw and @Magentax Very , very good points there about earned versus inherited wealth tax.
I say that as someone who has never earned much but the greed amongst the massively wealthy individuals and companies now repulses me.

They are never going to take enough from us are they?

@Infinitebows thank you - I'll look into xero and quick books. Think I'll give Sage a miss though!

@ThisIsPlanetEarth me too. 30 years qualified, band 5, ICU. I come out with more - around £28k for 30 hours- but I don't do agency or bank as recovering from long covid and don't want a relapse.

Yes well lower salary jobs are more common and so of course not questioning that.

Ok I’ve crunched the numbers and based on government data, 3% of taxpayers earn more than 100k (based on 2019-2020 figures - it may be more now), which equates to almost a million individuals. We’ve had around 20 of them represented on this thread? It’s not that hard to believe. For the higher numbers, there are around 320,000 earning more than 180k. I’d guess we’ve had around 10 people reference individual incomes higher than that

I think that's the point of the thread - that you have a shocking salary or income.

Definitely more than 10 people but I am really not that invested or even bothered to count. I guess the “shock” was the point of the thread.

Its rubbish isn't it? I'm less hours than you. I will earn slightly more this year due to the pay rise in Scotland and doing the odd agency shift.

Good luck. A VERY wealthy author told me that the first five million are the hardest to sell - apparently, after that, it's all gravy.

I never think anyone makes up their salary on MN. What is the point? Eg the corporate lawyers (I think two are on the thread plus me) are very unlikely to be over playing their salary (as partners in top London firms may be on £1m a year in the biggest firms and most of that data is public including the starting salaries when you qualify in City law firms).

Someone mentioned wanting to know the jobs so that they can advise their children. That is very wise because it is useful for teenagers to have information even if they decide they have no interest in high paid work.

On tax, my own view is it is far far far too high and I wuold much rather have a much small state. We have the highest tax burden for 70 years now and even though the top rate in theory is "only" 45% income tax plus 2% NI i.e. 47%, by the time you compare with the past - no no single person allowance, no child benefit, 9% graduate tax for some higher earners (student loan), much small pension allowances than their used to be and many other changes (used to be mortgage interest tax relief in my father's day and also tax relief if you covenanted money to your student children) - all that has gone and yet we still have the veyr high rate. Add on 20% VAT, insurance premium tax, stamp duty so massively higher up to 12% ( I thought 1% was disgusting when I bought this house in 1997 -the rate had just doubled from 0.5% the year before), higher if it is a second home or bought in a property, just so so much tax and so much government utter waste.

My clients know what I earn as a self- employed consultant. Last year my Co turned over >£300k. I worked hard for that without any other help. This year the Co will earn c£170k as I also have an inside ir35 job for a few months, so overall the same sort of income.

I would however prefer a permanent job paying less but still 6 figures - there are several of them about. However, even with over 30yrs experience, my age is now against me, so I suspect I'll remain self employed...!

Should add I font dress like I earn tgat much, I drive a 12yo car too, so people wouldn't know it.

My mum goes around saying, I know it doesn't look like it, but my daughter earns a lot of money. It makes me laugh.

I do dress up when I'm at board meetings :)

Does people believe that NHS nurse jobs are more skilled and responsible than any other jobs? Lots of my PhD friends earn less than 40k a year, that requires much longer years to get their qualifications.

A nurse's mistake can very easily kill someone. So yeah, I rate that as more responsibility than a uni lecturer.

Also, it shouldn't be a race to the bottom. Just because skilled job A is paid a shite wage doesn't mean that skilled job B should also be paid a shite wage.

Interesting you should say that. In the over 30 years I have been a nurse, it has changed so much.
We have to continually keep up to date with changing research, now have to revalidate every 3 years, providing proof that we have achieved the standards set by the NMC. Also have to pay the NMC £120 per year to be able to practice as a nurse. I attend study days, webinars in my own time.
@Kafkascat will confirm that the stress of working in an ICU in literally life and death situations frequently, takes it's toll on your physical and mental health. The amount of knowledge we are supposed to know, giving IV drugs and infusions etc etc, also to work all the machines, sometimes feel like I need an engineering degree. If you have someone sick in ICU, you want someone looking after them who knows what they are doing.
Nurses working in other areas have their own stressors to deal with.
I work with quite a few nurses who have a masters degree, this seems to be expected now if you want promotion.
I have a relative who has a PhD, not medical related, who has worked very hard for it. Not sure exactly how much they earn but would say its probably well over £60k at least.

@Badromancer hi - thanks for your kind comments. I'm in banking in London - senior management. I was never a top student but I had ambition and a determination to get on and studied until I was 27 to get my qualifications - so did miss out on a lot of fun in my 20's. I work hard and do long hours but no more than nurses doctors teachers police who all carry a much greater responsibility for life and society. I've also been lucky to work in an industry where those salaries are the norm if you're senior. But I also work with people who earn more than me and think they are underpaid.

On the tax front I'm very much of the view that if you earn more you have to pay more and it's a moral duty to society. Without sounding like a goody two shoes when Quarteng reduced the tax rate for those earning over 150k from 45% to 40% I was livid - absolutely livid - especially when those at the lower end were only gaining £12 per month. It was so unfair. And when Hunt reduced the higher rate tax bracket for 45% from 150k to 125k - I was happy about it - but in the circles I work in I was a lone voice. That tax increase represents about £100 more a month in tax to me - which I can well absorb from my take home pay - as I always tell my kids - if we have to cut back in these times - we're cutting luxuries- so many more are cutting essentials. Also I want all children to have equal opportunities and if me paying more tax can help that then I need to pay it. I got a good state education which got me to Uni (never got top results I'm not an A* level student) - and that plus my determination has helped me get where I am and I want that for all kids who grow up and want to better themselves and for that we need to pay more tax and invest in education. My only issue at the moment is that I'm paying it to a Tory Government who are completely corrupt and lining their own and their friends pockets - but when Labour get in at the next election I'm hoping that will change.
My boss who is a Tory thinks I'm a communist - and that I'm probably jealous of his wealth - when in fact I'm much more wealthy than he is - but he doesn't know. I've always voted Labour - even Corbyn who would really have taxed me proper. I support all the strikers train drivers - nurses - teachers etc (but again at work I'm a lone voice and people mock my views). But I got my political views from my mother - she grew up in the 40's in proper poverty - no state aid no benefits - if they had no money they didn't eat and she shared her hard times with me throughout my life - and I've never forgotten that and I pass on those stories to my kids also - and remind them never to take for granted the life they have.

Also in life I've found it is those who have least to share who share the most. I do give to charity - but only money as I'm very time poor but when I downsize my job I will give my time also and try to make a real difference. London and the world I inhabit is pretentious and false and you're judged on what you wear - which restaurant you eat at - what is the brand of your handbag - which hotel you stayed at for your holidays etc and I hate that. I have lots of friends who are what I call real people and I'm far closer to them and few work in banking. All my properties are in our name - so I pay 45% tax on all my rental income as well- which is right and proper. None of them are in companies. I hope I don't sound pretentious - as I know I'm privileged but I try v hard to remember where I came from - the journey in life I've taken and never forget there are those who have not been able to travel that path due to circumstances beyond their control.

@moraxella, I know even I'm shocked by the earning potential of the data science and IT industry. It isn't too difficult either once you have learned how to manage workflows and use systems such as salesforce, aws, power bi, QlikView etc. and learn how to code to a basic level. I did a basic Project Management qualification on the side as well through open uni which really helped me applying for roles. I was hoping to break at least 32k for this role as I found it on reed with no disclosed salary and my first job out of uni was 30k (yes I had done other jobs before this), yet got offered upper 30's with bonus options and monthly wfh pay. My TL has only been in the job a year and in the industry for 3 years and I've worked out she's roughly on near on 50k a year.

@PearCrumbleCustard I'm an accountant working in banking. And it's never too late to change career. It's hard work to qualify - 3 years of study and exams but after that if you're in London the rewards are there. We need more women also - so if you can go for it!!

I’m not so sure about the data salaries - I see lots of entry ones for £30 pa, etc

@Inhouselaw well done you for where you have got to in life. Just on the inherited tax point being lower than income tax - it's not really. If your assets are not stored offshore like most of the Tories do - then only the first 325k (650k for a couple is tax free) after that everything is at a flat rate of 40%. And in the case of most assets (aside from a family home) tax will have already been paid. Take an investment property for example - stamp duty when you buy it - income tax on rental income at your highest marginal rate and then Inheritance tax when you pass it on if you don't do a PET.

This is from a 2023 salary guide with region set to East mids which is apparently 3% below national average (London salaries are 22% above national average so would be higher).