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Original poster

Is 42,000 a good salary?

140 replies

RDW1989 · 09/02/2018 22:47

I’m 28 and currently earn 42,000. This went up from 33000 the previous year as I had a big promotion. I feel like this is pretty good for my age, but everyone in my profession talks about how rubbish the money is, especially given how hard the work is and the log hours we often end up working (although often from home, evenings and weekends etc)

Salary goes up around £1000 a year until £49000, after that I’d need another promotion but due to planning to start a family soon I don’t see this happening for me for a long while!

How does this compare? Do you think this a reasonable salary?

P.s. I know it’s crude to talk about money, hence posting in an anonymous forum Wink

OP posts:
MrsJoshDun · 09/02/2018 23:14

Sounds standard lecturer salary where I work. Everyone starts off on band 7, then goes to band 8 after 3 years. Top of band 8 is about 55k and takes a while to get to the top and I think the bottom of band 8 is about 44k.

Petalflowers · 09/02/2018 23:15

Yes, good salary at any age, and one a lot of people,would dream of earning

littlemisscomper · 09/02/2018 23:16

Well at the moment I'm out of work but I was (and hope to be again soon!) on £24000. That's down in Cornwall though so although I'm fairly happy with that I would feel drastically different if it was London. But then I'm a nanny, so never going to be paid terribly well for obvious reasons. As a PP said re astronaut, it all depends what you do/hours you put in/where you live!

Winebottle · 09/02/2018 23:16

It's not bad but below inflation increases for the next 7 years is poor progression.

lecossaise · 09/02/2018 23:16

Shhhh telling people about this salary in universities will not gain support for the UCU strikes!

BakedBeans47 · 09/02/2018 23:18

It’s a good bit more than I earn in my 40s and many years qualified in one of the professions (but I think I am quite underpaid). And also a lot more than I imagined lecturers would earn! Lol x

WitchesHatRim · 09/02/2018 23:19

It's not a bad salary but I wouldn't think of that as a good salary unless you had just started working properly

Meanwhile in the real world....

foodiefil · 09/02/2018 23:20

Great salary imo! But where do you live? London - not that great. The North - you can live a good way of life. All dependent on necessary outgoings

BakedBeans47 · 09/02/2018 23:20

I’m also not sure that MN is the best place for responses as there tends to be a lot of people at pains to announce their 6 figure salaries here

starzig · 09/02/2018 23:21

It is a high salary in general terms. Not sure for a PhD lecturer as I am not one. I have 20yr experience in a degree level job and I am on 28k for comparison.

blueshoes · 09/02/2018 23:22

Congrats on your promotion. That is a good jump in salary. £42K is good salary in general for someone who is 28 but not so good in London if you stagnate at this level. You will need to have a higher earning partner to make it work in London at £42,000.

You should be aiming for £70K if in London over the next 5-8 years - is that the next salary jump?

Cherrycokewinning · 09/02/2018 23:24

I wouldn’t work long hours for it but then it sounds like you have a vocation which is different I think.

saladdays66 · 09/02/2018 23:26

Yes, it’s very good.

Outymcoutface - wtf?

AndNoneForGretchenWieners · 09/02/2018 23:28

I think it's a good salary. I'm 39 and earn £48k, and I am amazed how far it goes even with DH on the sick and not getting paid. But then we live in the Midlands with a tiny mortgage and no childcare costs. I can imagine it wouldn't be so generous in a more expensive part of the country. It's all relative.

WitchesHatRim · 09/02/2018 23:28

I’m also not sure that MN is the best place for responses as there tends to be a lot of people at pains to announce their 6 figure salaries here

Yes. Only on here would 42k at 28 not be considered a very good salary.

Original poster
RDW1989 · 09/02/2018 23:31

Thanks everyone for your responses. For comparison, during my PhD I did an internship for 3 months in industry. They paid me the equivalent of my current salary as an intern, and the starting salary would be £60k and can rise to £100k plus. I will never earn £100,000 in academia. I guess I was wondering whether the company I worked for just offers unusually high salaries (it’s an industry leader so maybe) or whether others are omnivores this type of salary and just don’t mention it as no one really likes to talk money.

I guess as you say it’s all relative. Industry jobs are mainly (although not all) in London. There is nothing in industry within a one hour commute of my home and dh can’t move because of his job which is a family business.

OP posts:
Hellywelly10 · 09/02/2018 23:31

Runningbutnotscared pmsl

BuzzKillington · 09/02/2018 23:32

It's slightly less than I earn. But I work in the public sector, so a big salary wont ever happen, plus we live in the SE, so it's a relative pittance. But! My work/life balance is perfect and my job is flexible and not too stressful. And I enjoy it.

My husband works in the private sector, earns a lot more than me and has better earning prospects.

PickAChew · 09/02/2018 23:33

Depends where you are and what you do. It's more than DH earns as a salaried software developer in the NE with over 20 years experience.

Original poster
RDW1989 · 09/02/2018 23:34

Indubiousbattle - I have a lectureship. I’m a few years ahead of my peers as I skipped masters level stated my PhD at 21 and went straight into a lectureship rather than a post doc. So others at the same level as me are in their early to mid 30s. I’m happy that it’s a good salary for academia, I guess I’m curious as to how it compares to industry salaries, especially with the current pension system debacle...

OP posts:
redmarkone · 09/02/2018 23:34

what does your partner earn?

if your partner earns half that and you go on to have children, if you keep mortgage low, eg £1K - 1.2K per month, then you will be fine assuming you dont have cars to pay for and other debts and assuming you have to pay £ 275 per week private day nursery.

any more context? apart from you job, house and wanting kids?

redmarkone · 09/02/2018 23:35

cross post - i see you want to know how it compares to other industries.

feska5 · 09/02/2018 23:38

I would say you are doing very well. You obviously work hard and as long as you enjoy it and feel rewarded I wouldn’t be concerned. . Don’t listen to other people. You’re very young and clearly ambitious. You have a great future. Enjoy life.

PickAChew · 09/02/2018 23:38

That discrepancy is countered by cost of living, btw. This week's Kirsty and Phil was looking for houses similar to ours around Windsor at 4 times the price. We live in an expensive part of town!

GrockleBocs · 09/02/2018 23:39

My role would pay at least twice my salary in the corporate world. I left that world and went to the 'public' sector but I kept that going through child bearing and disability. I wouldn't have had that flexibility in the corporate world.

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