How much do you earn

[strangerontheinternet]

Have previously come across a similar thread on another forum and it was so interesting! Basically people commented with their job, age and how much they earn. I hate my job/industry and feel it doesn't pay well like I was led to believe but also feel I have no idea what's out there career/job wise and how much various jobs would earn so what I could do.

I'm 27, a solicitor in Scotland and earn £35k

52
Full time TA in an independent school
£10-300

Teacher, 41, top of the upper pay scale but no additional responsibilities. £41,604

Yeah you don't have to spend it all. I think I've worked out I get about 52% of my pay packet. My mortgage is small, my house is only worth 240k or so. We could buy bigger but actually really like our house. I decorate it myself as I enjoy it. I garden myself and have an allotment. I do have a cleaner as I hate cleaning. No kids so no childcare costs.

I definitely spend money on food as I think food quality is important, but we're vegetarian and I don't drink so even then, the bill isn't that high. We're eco conscious so try to buy sensibly and vintage. We have a 14 year old bmw that's very comfortable and runs really well so no need to buy another. We have two dogs who we like to take on holiday so they're usually airbnbs or campervan trips.

I bank a lot of cash.

My sister and her husband have about the same combined income as we do and do the opposite of everything I've said above, as they really live the high life, which suits them. We both respect each others attitudes and choices but are like chalk and cheese when it comes to risk.

Oh that was in response to @hemhem

Teacher. Top of pay scale at £41604 but work part time so a bit less.

I work on a 0.5 contract and earn 27k (so would be 54k if full-time).

if you earn 4k a month extra you don't just spend it... you invest. you put cash towards your children's uni funds, or car fund. you add to your pension pot. you buy legal advice so you have a robust will.

you could also outsource some of the drudge work at home - cleaner, gardener. if you don't like doing it.

trust me, i've been poor and i've been rich (as in, i had more money coming in than we'd been used to, when i switched jobs). you find something to do with the cash... in our case, it mostly meant still living like students, but trying to make the future more comfortable. seeing relatives and parents in poverty growing up hammered home that a pension/property/insurance is so important to cover if you can afford it.

you don't just buy "stuff" with everything you have coming in.

@GappyValley I would love to know what your mortgage is, but of course it's inappropriate to ask.
Despite our low earnings we have less than £90k / less than 10 years to pay back on our burbs 4 bed semi.
We've lived here for over 16 years. Bought it for £280k and it's (apparently) worth over £550 now. (We bought a 2 bed flat in Hounslow 20+ years ago at the bottom of the market for less than £70k and then the market went kaboom. So we were very lucky in that regard.) Our mortgage I think is maybe £1200 p/m but we're overpaying.

@79andnotout We don't have enough disposable cash month to month to have savings.

Thank you @Weirdlynormal I think that's exactly what he's going to do.

@Z0rr0 I think that’s a really important point. Someone looking to buy your house would obviously need to earn a lot more, so for younger people higher salaries easily get eaten up.

@WhiteLittleDots I definitely get that and I would totally pay for a cleaner and a decorator and have better holidays, maybe even more than one a year.
Not sure about the car tho. Fancy cars get really complex and I prefer them quite simple and also because I prefer to drive one that I can just shrug if it gets a scratch or the kids grind crumbs into the seats. Expensive cars give me the heebie jeebies where I would be losing my mind about something happening to it.

@hemhem But presumably there'd be more than one person so even if the other partner only earned £20k, that's on top of the £100k. What you're describing is £100k between two people.
We don't need child care or pay for commuting, or cleaners etc. I'm trying to think what we have left for bills and stuff once the mortgage and council tax is paid. I think maybe £1200. We buy nice gin but that's the only extravagance. We don't have debts but no savings either.

Fascinating. Thanks all.

£100k a year is at least £35k in tax and NI, and by the time you've paid for full time childcare and a big mortgage there's about £2k a month left for all the other bills, food shopping, commuting costs, cleaner, gardener, and so on. Obviously plenty to live on still but these type of people are time poor and rely on others for a lot, which they pay for!

Why do you assume everyone on six figure salaries has big mortgages and has to pay for child care?

40, Director of internal operations, private sector. £140k + usually 20% bonus, sometimes much less.

41
50k plus commission (about £15k)
Business Development Manager
Northwest

you just have a sensible mortgage

Where can I get one if those? I was still at school in the 90s.

Full time carer for my ds so around 3k a year, DH is on around 18k.

33, 20k, only gone upthis year. Started as an apprentice earning 10k), work as a low minion in local authority.

For those in HR, do you have any advice on how to get your foot in the door please?
I need to retrain and was thinking about an undergraduate HR degree.

@lily193 not assuming everyone, but a lot of people I see with that type of salary have that type of lifestyle. I'm a tax advisor so its something I come across a lot

31, Finance Manager, 19K (part time - 25 hours per week)

@hemhem But then you have relentless pressure to earn just to pay off a mountain of debt, rather than using your salary to enjoy some luxuries to make life more enjoyable. I don't understand that at all - how stressful.

@Lily193 it's not just a "mountain of debt" though is it? It's likely a more luxurious house than if they bought more cheaply which they can enjoy, and unlike "free money to spend on luxuries" it's a luxury that's an investment that will most likely pay out in the long run.

@lily193 yep its definitely a lifestyle choice. I guess some people would see the big house/mortgage as a luxury and an investment. Doesn't suit everyone of course but everyone has different priorities