To think getting less than 50% of your pay is crazy?

[rampe]

If someone earns £15,000 a month. They have a student loan. They pay in 10% into their pension.
They take home less than £7,000 a month.

Cry me a river. Imagine having to pay off A LOAN and INVEST in your own future and have £7k a month left over.

oh boo hoo, how will anyone possibly survive on £7k a month?

YABU

15k a month? ok yeah its heavy but surely not long til student loans paid off, short term pain for long term gain and im sure that degree gained is part of why theyre earning so much

If you took a zero off the figures, I might have some sympathy. Otherwise, is this post supposed to be goady or are you really that insensitive?

At that salary I'm sure the student loan will soon be paid off.

Meanwhile a nurse could have the same loan and take decades to pay it off.

Which is fair?

I think OP maybe meant per year?? But no student loan until £27000 pa so perhaps not

They don't get less than half their pay.

About £3k of their salary is diverted to a) a debt they incurred and b) their future savings.

I'd hope someone earning almost 200k would be smart enough to understand that and mature enough to handle that to be quite honest.

dont think so as dont think repayments kick in at that amount

No one on £15k a year is paying off their student loan yet.

Lol OP; there is so much jealousy on this site you are unlikely to get any sensible answers. Every thread about money/high earners, the energy is just crazy.

The tax system in this country is just awful.

Why are you including pension in money that is being 'taken off' them?

It couldn't be a year. You don't pay student loans until you earn around £25000 a year depending on the plan.

10% pension is a lot too.

£15000 a MONTH?!! I don’t think there can be many with this worry!

Well with a salary £15k a month it isn’t going to take long to pay off your student loan, so that’s a short term issue. Also, very very few graduates are going to start on £15k a month, so I imagine they’d have paid most of it off as they worked up to £15k a month. My DH earns slightly less than that but he paid off his student loan years ago.

£84k/year take-home.

Somewhere a tardigrade weeps gently for you as it plays a stringed instrument on one shoulder.

Don’t care someone is earning more than me. I do care if they moan they’ve got to pay off a loan they took out to be able to pay more. I do care they moan about having to pay 10% into pension- because 1) they don’t have to and 2). It’s an investment in their own future.

I’m going to buck the trend and say I agree. I don’t earn anywhere near that but objectively regardless of how much you earn it is crazy that you would only take home less than half your salary.

I am trying to reduce my hours because am on a tax borderline and the increase in tax just isn’t worth the extra hours I’m working.

I agree OP, these are typically the people who generate jobs for others too, look at the thanks they get.

Losing your personal allowance is an additional delight.

If they want more take-home, they can simply stop paying into their pension. But of course they won't do that because being able to put that much money into your pension is a very good thing 🤷‍♀️ Student loan is a temporary thing and at £15,000 a month, I doubt it will be long before it's paid off.

Is it the tax rate that you're really complaining about without saying as much? Because that's actually discussion worthy.

Feel free to earn less to pay less tax...

I agree on the personal allowance, but is it really an issue that they have to pay back their student loan and choose to put a lot of money into their pension? There’s nothing unfair there.

Christ! I don’t earn that in a year!

OP, you do realise that paying into a pension is just a form of saving money, yes? You're saving the money for your own future, not giving it away!

Presumably this person could get a minimum wage job instead.

Yes, that would be such a good thing for the coffers of the country. Honestly, are people really this dim?