Spot Posted May 9, 2011 Share Posted May 9, 2011 Hi All, I was checking how various prices had inflated the other day using this Inflation Calculator and I thought i'd stick the salary of my current job in from when I started almost 10 years ago. I was suprised to see it return almost to the penny what my current salary is. So considering in the last 10 years tax and stealth tax has increased, if my salary has effectively remained static due to inflation it's not suprising I actually feel less well off as the government is now taking a bigger slice. I'm an IT professional (25 years experience) currently with a large global company and I didn't think I was on a particularly great salary (happy enough though as I only have a 5 minute commute) but having recently been looking at what jobs are available I haven't seen anything out there paying close to what I get (except obviously in London). How have the rest of you done? Have your salaries also been static compared to inflation or better or worse? Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted May 9, 2011 Share Posted May 9, 2011 How have the rest of you done? Have your salaries also been static compared to inflation or better or worse? Worse mostly. Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted May 9, 2011 Share Posted May 9, 2011 Mine is much higher, nearly double in real terms according to that calculator, over the last 10 years. That's mostly because I have advanced quite a bit in my career and made some correct choices in terms of which job I took on. I personally think inflation is much higher than official figures so my pay rise is not as good as it would seem. Quote Link to comment Share on other sites More sharing options...
plummet expert Posted May 9, 2011 Share Posted May 9, 2011 Hi All, I was checking how various prices had inflated the other day using this Inflation Calculator and I thought i'd stick the salary of my current job in from when I started almost 10 years ago. I was suprised to see it return almost to the penny what my current salary is. So considering in the last 10 years tax and stealth tax has increased, if my salary has effectively remained static due to inflation it's not suprising I actually feel less well off as the government is now taking a bigger slice. I'm an IT professional (25 years experience) currently with a large global company and I didn't think I was on a particularly great salary (happy enough though as I only have a 5 minute commute) but having recently been looking at what jobs are available I haven't seen anything out there paying close to what I get (except obviously in London). How have the rest of you done? Have your salaries also been static compared to inflation or better or worse? Much worse. About 40% less well off.. Quote Link to comment Share on other sites More sharing options...
Milton Posted May 9, 2011 Share Posted May 9, 2011 Try the Brown Calculator Quote Link to comment Share on other sites More sharing options...
SirGaz Posted May 9, 2011 Share Posted May 9, 2011 From 1995, About a fiver an hour worse off :angry: Quote Link to comment Share on other sites More sharing options...
pezo Posted May 9, 2011 Share Posted May 9, 2011 Hi All, I was checking how various prices had inflated the other day using this Inflation Calculator and I thought i'd stick the salary of my current job in from when I started almost 10 years ago. I was suprised to see it return almost to the penny what my current salary is. So considering in the last 10 years tax and stealth tax has increased, if my salary has effectively remained static due to inflation it's not suprising I actually feel less well off as the government is now taking a bigger slice. I'm an IT professional (25 years experience) currently with a large global company and I didn't think I was on a particularly great salary (happy enough though as I only have a 5 minute commute) but having recently been looking at what jobs are available I haven't seen anything out there paying close to what I get (except obviously in London). How have the rest of you done? Have your salaries also been static compared to inflation or better or worse? I only started full time work in 2006 and my wage has gone up 100% since then, plus the last 2 years I have had 10% wage increases every year, which seems good. On the other hand I currently dont get paid enough to live with the misses and save so we are both living with our parents to save money, which isnt good. Quote Link to comment Share on other sites More sharing options...
Djini Posted May 9, 2011 Share Posted May 9, 2011 2001: £36k (£44.6k in todays money according to that inflation calculator) 2011: £60k - because I studied ******ing hard and worked hard for promotions + I do a much harder job now. So I earn more. Saying that, I get raped on TAX, both both overt (40% bracket, more NI) and covert (petrol, food, insurance), so it feels like I earn less. Still, my houses value doubled in that timeframe, so I should be happy right :/ Quote Link to comment Share on other sites More sharing options...
tahoma Posted May 9, 2011 Share Posted May 9, 2011 I remember the first time I cleared over a grand a month, I think it was '94. I was in a shared house with some mates, and my monthly living expenses came to about £200 pm. I don't think I've felt richer since. Quote Link to comment Share on other sites More sharing options...
Lepista Posted May 9, 2011 Share Posted May 9, 2011 2001: £36k (£44.6k in todays money according to that inflation calculator) 2011: £60k - because I studied ******ing hard and worked hard for promotions + I do a much harder job now. So I earn more. Saying that, I get raped on TAX, both both overt (40% bracket, more NI) and covert (petrol, food, insurance), so it feels like I earn less. Still, my houses value doubled in that timeframe, so I should be happy right :/ Everybody is comparing discretionary incomes, right...? Quote Link to comment Share on other sites More sharing options...
davidg Posted May 9, 2011 Share Posted May 9, 2011 I'm an IT professional (25 years experience) currently with a large global company and I didn't think I was on a particularly great salary (happy enough though as I only have a 5 minute commute) but having recently been looking at what jobs are available I haven't seen anything out there paying close to what I get (except obviously in London). My impression is that IT salaries have stagnated since the dot.com boom (and if you were not part of that boom then since the late 90s) and dropped in real terms. Quote Link to comment Share on other sites More sharing options...
Panda Posted May 9, 2011 Share Posted May 9, 2011 (edited) 1985 to 1998 = 23 years.............For my wage to stay with inflation in this 23 year period of time, i would have needed a 4% rise per annum actual pay rise. Funny thing is, savings rates have matched the inflation in this period, if i had £450.00 in 1985, today it would be worth £1166.00 if it had kept pace with inflation. Savings rates at 20% tax have matched RPI. Divide the £450.00 by 2.3 = £...195.65......Divide £1166.00 by 2.3 = £506.95 Same job wage in 1985 = 195.00........wage in 2008 = £400.00 http://swanlowpark.co.uk/bank0604.jsp 2008 5.00 2007 5.55 2006 4.68 2005 4.92 2004 4.56 2003 3.73 2002 4.00 2001 4.50 2000 5.00 1999 4.25 1998 6.00 1997 5.65 1996 4.75 1995 5.53 1994 5.31 1993 5.82 1992 8.65 1991 11.37 1990 14.23 1989 12.02 1988 9.68 1987 10.54 1986 8.75 1985 7.57 Edited May 9, 2011 by Panda Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted May 9, 2011 Share Posted May 9, 2011 Everybody is comparing discretionary incomes, right...? My disposable income has probably tripled or quadrupled in real terms over the last 5 years or so. Not only have I become increasingly tight as I grow older, I've found that partnership with another person helps bring costs down significantly. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted May 9, 2011 Share Posted May 9, 2011 My disposable income has probably tripled or quadrupled in real terms over the last 5 years or so. Not only have I become increasingly tight as I grow older, I've found that partnership with another person helps bring costs down significantly. Quite a way above the inflation-alone figure, although 10 years ago I was only just starting work. Feels like more as well, I'm living in a much nicer place, not driving a pokey ancient wreck, and don't usually think about the cost of anything I buy other than the most expensive items (but I've never been much of a big spender anyway). Still not enough to put me into paying higher rate tax, but if house prices weren't stupid I'd be perfectly happy with my income and how its changed. Quote Link to comment Share on other sites More sharing options...
jethrotull Posted May 9, 2011 Share Posted May 9, 2011 As most of my income goes on housing, the inflation I face is house price inflation. Price of clothing is irrelevant when it is <2% of my expenditure. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 9, 2011 Share Posted May 9, 2011 2001: £36k (£44.6k in todays money according to that inflation calculator) 2011: £60k - because I studied ******ing hard and worked hard for promotions + I do a much harder job now. So I earn more. Saying that, I get raped on TAX, both both overt (40% bracket, more NI) and covert (petrol, food, insurance), so it feels like I earn less. Still, my houses value doubled in that timeframe, so I should be happy right :/ ...so are you happier than you were in 2001? Quote Link to comment Share on other sites More sharing options...
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