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oldmisery

Average Professionals Wage

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just got a new job. what do "professionals" earn these days? My new wage is above the average and his probably high in comparison to a majority of people. I have no mortgage and live well. However, living is expensive and even I do not have a lifestyle which you would probably expect. I drive a 7 year old car and do not waste money. When I look at house prices (especially in london and the home counties) I cannot accept house prices, they look extremely frothy.

Are there a lot of people on earnings of excess of me? Are people without my outgoings living on credit?

Suffice to say what is a good wage?

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Guest grumpy-old-man

just got a new job. what do "professionals" earn these days? My new wage is above the average and his probably high in comparison to a majority of people. I have no mortgage and live well. However, living is expensive and even I do not have a lifestyle which you would probably expect. I drive a 7 year old car and do not waste money. When I look at house prices (especially in london and the home counties) I cannot accept house prices, they look extremely frothy.

Are there a lot of people on earnings of excess of me? Are people without my outgoings living on credit?

Suffice to say what is a good wage?

you tell us how long is a piece of string & we will tell what is a good wage :blink:

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just got a new job. what do "professionals" earn these days? My new wage is above the average and his probably high in comparison to a majority of people. I have no mortgage and live well. However, living is expensive and even I do not have a lifestyle which you would probably expect. I drive a 7 year old car and do not waste money. When I look at house prices (especially in london and the home counties) I cannot accept house prices, they look extremely frothy.

Are there a lot of people on earnings of excess of me? Are people without my outgoings living on credit?

Suffice to say what is a good wage?

How do we know if we earn more than you - you don't say what you earn. Neither do you define "professional". Are we talking doctors or footballers? Even your seven year old car could be a Bentley for all we know! ;)

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profession : chartered engineer

therefore any jobs of a similar level ie teacher,solicitor,surveyor

wage : 40-50k bracket

car : vw bora (+100k miles from new)

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There are several engineering categories in this list which has been discussed before.

Type of engineer, age, location and if your any good also need to be considered.

http://www.housepricecrash.co.uk/forum/ind...2&hl=salary

A 40k salary is way above average. If you wanted to you could get a huge mortgage.

BTW Shouldn't you have asked this question before you accepted your new job?

Edited by DONT PANIC !!! DONT PANIC !!!

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profession : chartered engineer

therefore any jobs of a similar level ie teacher,solicitor,surveyor

wage : 40-50k bracket

car : vw bora (+100k miles from new)

are you saving anything?

i am on around 35k South East and put 450 p/m away.

I still go out for a dink now and again and take out food occasionaly - leave myself about £700 p/m disposable.

clothes and gadgets do not account in this equation they come out of savings but are few and far between.

what do you have disposable and what do you save?

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I know my market value for my profession and I will be earning above 40k. What I am asking is how do people afford their lifestyles? I inhereted a house and therefore dont need to worry about borrowing. I just look at thecost of everything and ask myself how do these people live and why do they appear to have so much more than me. Am I earning far less than other professionals? I live in a crap part of w london and would like to move to a better post code. however, is a 2 bedroom mid terrraced house in teddington worth 340k? who can afford a micky mouse mortgage of 200k + ?

ps I also do save but my savings dont seem to even make a dent in the amounts for an area not full of undesirables.

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are you saving anything?

i am on around 35k South East and put 450 p/m away.

I still go out for a dink now and again and take out food occasionaly - leave myself about £700 p/m disposable.

clothes and gadgets do not account in this equation they come out of savings but are few and far between.

what do you have disposable and what do you save?

Well, I'm probably quite representative of many of my generation (aged 33) - on 26k (teacher), wife on 13k, two children and rent of 800pcm. Can't save a thing - live in cheap bit of London, don't go out but do drive a 4 year old car (Fiesta - we travel light and buy very little petrol). Thank god my pension is taken care of. Any deposit is going to have to come from govt schemes. Sorry, taxpayers. We could have bought a house instead of having our first baby 3 years ago, but then we'd be stuck with a 1000 pcm mortgage, no chance of paying this on 1.5 salaries so no chance of ever being able to have kids. It's a grand life in the Miracle Economy ...

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A teachers wage will improve. You seem to be living within your limits. how many people in similar situation have two cars a mortgage and a holiday abroad?

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It sounds like you are single. That is the problem. I am also single. We can't compete against couples. Say you earn 40K. A couple on 20K each will still have more money than you due to the way the tax system works. Ie, you're paying 40% about above 33K. They only pay 22% on the entire 40K.

When it comes to buying property they have a massive advantage. I'd say its not uncommon to find a couple on £60 K+ combined in London and they're only paying the 22% tax. Their disposable income is so much higher.

Neil

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It sounds like you are single. That is the problem. I am also single. We can't compete against couples. Say you earn 40K. A couple on 20K each will still have more money than you due to the way the tax system works. Ie, you're paying 40% about above 33K. They only pay 22% on the entire 40K.

When it comes to buying property they have a massive advantage. I'd say its not uncommon to find a couple on £60 K+ combined in London and they're only paying the 22% tax. Their disposable income is so much higher.

Neil

Neil

The thust of what you say is true, but the point at which you pay 40% tax should include the personal allowance i.e. 33,300+5,035=38,335, and if you pay into a pension, you need to be earning well over 40k before you actaully pay higher rate tax.

mjd

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If you're job isn't tied to London, why not ship out to somewhere cheaper? There's always a demand for teachers.

I earn 30k in London. Rent/bills are £600, I try to live on £600 spends and save £500 (approx per month). I don't have a car, TV, iPod etc and I lease my PC from work because it's cheaper. I too don't understand how the average household (income £35k per year in London) affords the lifestyles I see around me. Even at my current rate of savings, it will take me 10 years to put together a deposit big enough to buy a half decent 1 bedroom flat in London. Why bother?

Am going to give it one more year to save a bit more and then look at moving somewhere where wages are higher (e.g. Ireland, HK or maybe one of these little tax havens) or cost of living lower (Scotland, Oz, NZ or Southern Europe). Am still young-ish and single, so figure I might as well go wherever makes economic sense.

I work with lawyers who earn up to £100k a year, but still think of themselves as not being particularly affluent.

We've created a situation that's Bonkers.

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I earn 50k pay 300 pcm to rent a room and let my house out for 1500pcm with no mortgage.

I have to say, most of my wages are taken in tax, its ridiculous and my transport is now costing me around 150 a week to get to work. I work shift, so nights and days so the 50k that sounds great is not so great after all, its a tough life with very little social life to speak of as most people will be out at work themselves when I get time off.

I would consider myself a wage slave, lucky to see 2700pcm after deductions.

I dont save a single penny, spend most of it going on holiday, and pissing it up the wall. If you work hard then I think its right you should enjoy yourself, I have too many friends who were sensible and unfortuantely did not live to reap the rewards of their frugal existence.

Happiness in my book comes way above money, its a shame that I am on my own thinking this.

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Guest AuntJess

profession : chartered engineer

therefore any jobs of a similar level ie teacher,solicitor,surveyor

wage : 40-50k bracket

car : vw bora (+100k miles from new)

I don't know many teachers who earn between 40-50K so you'd better leave that class of workers/professionals out. :)

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if someone on 100k doesnt feel affluent then it shows the cost of living for us higher rate tax payers is madness. Ive been waiting for a HPC for years. As time goes on I can see this will happen at the same time as a loss in social cohesion due to mass mindless immigration. My view is that a 1930 crash may come and political extremism not experienced by the uk take root. like the roaring 20's many chumps can't see the writing on the wall. I have maried friends on lower wages than me talking about investing in Bulgarian property. They have no idea of how much they can potentially loose. They see bulgarian property as being safer than the stock market!

I think people on wages lower than me dont see 20-30k as a lot of money due to the value of their homes. I have not lost track of the value of money. this is why I ask what are average professionals earning?

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Guest AuntJess

if someone on 100k doesnt feel affluent then it shows the cost of living for us higher rate tax payers is madness. Ive been waiting for a HPC for years. As time goes on I can see this will happen at the same time as a loss in social cohesion due to mass mindless immigration. My view is that a 1930 crash may come and political extremism not experienced by the uk take root. like the roaring 20's many chumps can't see the writing on the wall. I have maried friends on lower wages than me talking about investing in Bulgarian property. They have no idea of how much they can potentially loose. They see bulgarian property as being safer than the stock market!

I think people on wages lower than me dont see 20-30k as a lot of money due to the value of their homes. I have not lost track of the value of money. this is why I ask what are average professionals earning?

University lecturers (with two/3 degrees) between 25 and 35K. Principal lecturers a bit more.

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I work with lawyers who earn up to £100k a year, but still think of themselves as not being particularly affluent.

Reasonably affluent?

Probably looking at taking home £10k pcm at least. Say a household income of £200k?

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100k is not much if you are working for someone.

I would guess you would be lucky to see 50k of it per annum after taxes.

Then you can guarantee that a women will be taking half of it, and your savings when she reaches 40 years old along with your house.

So in real terms, you would probably be better off working a 37hr week serving drinks in a wine bar, chatting up the ladies and taking one back to your place each night, and earning 25K.

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I work with lawyers who earn up to £100k a year, but still think of themselves as not being particularly affluent.

I earn 100k a week , claim housing and unemployment benefit , i live in a large country house , drive a rolls , like women , wine and song and still struggle to make ends meet , what is going wrong with this country .

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It sounds like you are single. That is the problem. I am also single. We can't compete against couples. Say you earn 40K. A couple on 20K each will still have more money than you due to the way the tax system works. Ie, you're paying 40% about above 33K. They only pay 22% on the entire 40K.

When it comes to buying property they have a massive advantage. I'd say its not uncommon to find a couple on £60 K+ combined in London and they're only paying the 22% tax. Their disposable income is so much higher.

Neil

Being a couple ain't necessarily the answer. My missus works full time watching the kids and trying to keep the (rented) house up to snuff. Find it difficult myself expending effort on a house I don't own (or rent from the bank ;) )

So, we're on high 30s k, rent's £300pcm, we try to save £300pcm (I've just moved to shifts with a shift allowance, so what with that, the booty I'm going to make by gambling on IRs on Betfair, and the imminent crash, we should be able to save a bit more)

I'm an IT professional BTW. Cisco, ISS and Check Point certified. Still earning less than I should as I've just come out of training to prove I can cut it in the real world.

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100k is not much if you are working for someone.

I would guess you would be lucky to see 50k of it per annum after taxes.

Spot on. A few quid short of 100k a year but in a very (VERY) insecure job. House bought in 97 and paid for with a nice cash/investment nest egg for retirement growing at a vast rate.

However I come from a poor family background so can't do flash expenditure, old 'worn' everything. If i drop dead my mother/brother/sister will get a fortune.

BUT i subscribe to the looming financial meltdown theory hence the reason i read this site. I get by with what will do not what is in fashion. New Porsche Cayenne, peanuts, don't need it. I like making do and repairing stuff.

When the proverbial hits the fan i will be able to get my immediate family into my small country manor and ride out the storm!

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chatting up the ladies and taking one back to your place each night, and earning 25K.

on that money - in London, the women would scarper pretty quickly when they saw where you were living! :lol:

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If you run your own business, you can live a much more tax efficient life. You can run your car at 40p per mile, things such as mobile phones and internet connections are legitimate business expenses, not forgetting a modest (ahem) entertainment budget ;) Work from home and you can offset a percentage of your rent and bills against tax, register for VAT and you'll start saving 17.5% on many items, not forgetting of cause to pay yourself in dividends of company profits (lower tax again).

It's a lot of work starting a business, doing the accounts, you give up your employment "rights" and take responsibility for your own income, but no one said life was going to be easy.

I believe home ownership as we knew it for the average earner is probably over for the moment. Government policy is not going to change that situation in the coming few years as far as I can see, and under the premiership of Gordon Brown it will probably get far worse for someone on an average income wanting a home. We can speculate about whether house prices are going to fall in the long term, but realistically the only way to improve your situation in the shorter term is to maximise your earnings and minimise your tax bill.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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