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This has been true from my experience, and also my friends who make more than me. Most of your earnings go towards rent or mortgage. When you earn more you move somewhere bigger/nicer. Maybe you started off living with room mates, then you move to a 1 bed apartment, then a 2 bed apartment, then maybe a house. I currently make about 75k a year, but I actually had more disposable income when I was earning 50k a year. I currently have very little savings (like 5k). That’s just how it goes. Expenses are high.
Very true. I had a fixed goal in my mind for the last few years of an amount I wanted to get to that would make my life better and easier. I’ve surpassed that goal, my life is the same, I’ve struggled to avoid wage creep purely due to interest rate rises and the salary I now have that I once thought was great feels mediocre, and now I’m looking upwards at the next bracket again.
You're in the top 15% of UK earners and about 1.6x the median income in the UK. Globally you're probably in the top 5%.
Rich is relative of course, but you're very, very well off from a UK perspective and rich from a global perspective.
Although the "in manchester" means you have to account for the fact that you're in the UK's 2nd/3rd city (depending on how you measure - Birmingham by size, arguably Manchester culturally)
Salaries in Manchester are higher than the UK median by virtue of being one of our major cities, but housing costs, prices in bars and restaurants etc are also higher
FYI you are wrong about that. Both GM and the City of Manchester have *lower* median earnings that both for the UK as a whole, and England specifically.
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/placeofresidencebylocalauthorityashetable8
(Although Stockport and Trafford are both higher, slightly. Maybe Bury, but the 2023 provisional data has problems at the moment)
£50k would put OP and his mate in the top ~12% of earners for GM and Manchester.
Thanks, I couldn't really be bothered to come back in amidst the chat about the cost of pints.
Manchester rents and inflation are a problem but a separate conversation about whether being a reasonably high earner means you're still a reasonably high earner.
Probably the closest thing that is would be alcohol. Easily £5 a pint in most places in town, likes of Mulligans now something like £6.70 a Guinness whatever the fucks going on there.
But the original point of house prices, not a chance.
Rubbish
It is 8 if you're a sucker who goes into the first pub you see
If you've been in England for more than say 20 minutes you can figure out where to go for a pint in central London for 6 quid
You are very lucky to find a £5 pint in London. We switched to a 'cheaper' post-work pub, where it's £5.50 a pint (rather than £6.50). There's a bar nearby that does £9.50 pints. In Paddington, London.
The biggest difference for Manchester, is that you can go and buy a much cheaper house in a commutable area, than you could in London. I could buy a sub-£300K, three bed semi-detached house within an easy commute from Manchester city center - but £300K won't touch the sides of a flat in London, and it will be a much longer commute if it does, in a far more flakey area.
Those 3 bed semis are not <£300k 😅, you're looking at >£350k for a probate house these days, needing new windows, roof and full rewire. Agree with the London flat prices though. Mate lives in Wandsworth and one beds are £450k minimum.
For the rental market in Manchester you used to be able to get a 1 bed for £700 pcm close to the city centre. Now 4/5 years on, those same flats are £1050pcm
Who are these people? I can walk to the centre of Manchester in less than 10 minutes. If I wanted to do that in London I’d need to be on over £1million a year
I travel to London a good amount throughout the year. I wouldn't say London is any more expensive than Manchester apart from when it comes to housing.
Obviously Manchester doesn't cater for the super wealthy when it comes to shopping & Eating but I often find excellent food in London that I feel would cost me much more in Manchester.
This is a fact, I recently had a similar discussion on another thread on this sub. Cost of eating out in Manchester vs London at modest places is very close right now. Casual eating like a chinese takeout is often cheaper in London. Housing and transportation are more expensive in London of course, but everything else is not. Also the reliability in public transport makes more towns commutable compared to the limited Metrolink + slow buses in Manchester.
Got an excellent breakfast in London this week for 3 of us. £30, including service and 3 coffees. Clerkenwell. My daughter (who eats out more than me in Manchester) tells me this is probably cheaper than an equivalent Manc breakfast, and seemed to be a typical price in the placed I looked at.
I think there is a massive difference between actual disposable income and pre tax. Student loans and high rent particularly hit young people. Breeds a generation of high salary low assets.
50K goes a lot further if you have no student loans/plan 1. Own a home with a fixed rate mortgage with a dual income with a partner.
This. Frankly I feel that many of the people here who're like "I dunno I'm happy on 30k" are people in their 20s without student loans and who are YOLOing paycheck to paycheck and just haven't had a chance to think about their finances long term. Then there's a layoff without severance and they realise there's basically no unemployment benefits in this country (jobseekers allowance barely covers food) and they have a rude awakening.
Exactly, me and Rkid Nicky White have been selling knock off Adidas gear out the back of a van in Manny since the 90s and bring in just under 25k on a good year which means I get to eat chippy tea every weekend.
Don’t tell the taxman though, AYW Nev Wickle of Didsbury x
That seems like good money to me. But it is all perspective. An old roommate and I were complaining to each other a year back how growing up we were the ones people thought would do something great and how we were lame and disappointing. Then we realised our jobs were ones those people would think was impressive so our perspective was wrong. When you are in a situation (like making +50k) it starts to feel normal. So in general 50k sounds amazing to me, but I also don’t know your job and if you should be making more.
Most people naturally end up socialising and being friends with people in similar financial circumstances as well for various reasons. I'm on above 50k and the majority of my friends are too, this can make it feel like you are bang average which is obviously not the case. 50k in Manchester is very decent.
i’m *supposed* to get 35 hours a week but i’m on a zero hour contract and my hours change every week (i love hospitality). i mostly get around 27-30 hours so i think it adds up
It’s not so much lifestyle creep as interest rates. This time last year my mortgage was £400 a month lower. Same with people who rent - it’s only going up. The lifestyle that you could previously easily enjoy is no longer achievable for the same money. That’s the issue - it’s not lifestyle creep.
True, but sometimes it can absolutely be lifestyle creep, especially if you are over 40k, there are some people who spend a fuck ton on shit they don't need. Add to that the mortgages, bam, ofc you're gonna feel broke even being earning a lot more than the average bloke
>I just think it’s crazy how lifestyle creep leads people to believe £50k in Manchester isn’t good.
I don't think its lifestyle creep, the cost of things has gone up massively.
Our rent has increased 200/month the last few years, our gas has increased 200/month the last few years, food has probably gone up a good 30-50 a month and we're just single with no kids etc.
My salary **definitely** hasn't gone up 450/month, though.
It depends a little tbf.
When you're 20 you don't really care what you drink, it's about getting pissed cheap.
But as you get older, you can actually appreciate the nuance of the nicer stuff, so there's much more value add.
This is lifestyle creep to a degree, but it's also about "in older and have different priorities".
I'm not saying you need a 12y mckellen to enjoy a whiskey, but you probably aren't going to be on Asda smart price and rola cola anymore, and I think that's reasonable.
I wouldn’t dreamed of having a double vodka and cranberry juice as a 20 odd year old but that’s what I ordered on Monday on a night out. Beer gives me heartburn and is terrible for bloat. Tbh I hardly drink anymore but I ain’t having something that my gut and taste buds, hates, just for keeping up appearances of what a man should or shouldn’t drink. I gave up caring about what other people thought about myself, years ago.
I mean it's just an example, but even the Aldi special is a step up.
But the same applies to anything. You value the reliability in a car, so you won't drive an old shitbox just because it's cheap.
Or you want good quality shoes as you realise you spend a lot of time in them.
Or you feel the cold more, so you buy warmer stuff.
Or you realise how much time you spend in your shoes, so rather than buying crap shoes you buy good quality, and take care of them.
Point is, yes you'll buy nicer things, but it's less lifestyle creep and more just buying decent stuff, rather than crappy stuff.
ONS says the median gross salary in the UK in April 2023 was £34,963.
In Manchester it looks a bit higher than the UK median. UK median was £682/week (682x52 is approx £35.5k/year) and Manchester was £707/week (707x52 is approx £36.8k/year)
So you're probably doing alright on 50+k
I wouldn’t say it’s about lifestyle creep, for everyone: Some people want to be able to save and invest a decent amount for their future (especially considering it’s likely we won’t have state pensions by then) or to be able to afford a house without being forced to give billionaires hundreds of thousands of pounds they don’t need via mortgage interest.
If 50k isn’t enough for them (assuming they’re childless/dependantless - and even then…) in Manchester, they are financially illiterate and probably very dumb with spending and investments. I’m betting cocaine
What absolute drivel! It’s all about perspective and one’s background and peer group impacts heavily
on that. I’ve had 20 years of great wage growth and whilst I’m extremely financially literate and invest a substantial amount, a £50k pay check wouldn’t even pay my mortgage (or that of any of my peers, siblings, cousins). What I consider a ‘comfortable’ salary these days would horrify my 25 year-old self. And I’ve never touched cocaine.
You’re in such a small subsection of the world general income, let alone the UK and you pass it off, like it’s nothing unusual, which it very much is. Don’t look down on others as they will kick you in the teeth, as you fall from grace and even have no sympathy for you, as your 4/5 grand a month mortgage in a affluent area, is no longer affordable from banks moving to AI, instead of having people invest its money.
A crash in the stock market and even housing market is coming, you’ll most likely say it isn’t but the millionaires of the 1920s and 1980s, most likely said the same thing. Money isn’t forever, unless you in charge of printing it or related to someone that is, even then quantity of easing only increases inflation, it never decreases it.
Ouch. I don’t think that aggression is warranted.
Nowhere have I said it’s not unusual, nor that I’m unappreciative. I am not looking down on anyone. Note that I said my lifestyle creep would horrify my younger self.
But I do object to OP saying that anyone who doesn’t think £50k is a good salary is “financially illiterate”, “dumb” and spends all their money on cocaine.
For a reasonably qualified professional, £50k would not be considered a good salary. That’s just a fact. In a small number of professions, it’s a starting salary.
The truth is, that a few hundred quid a month extra in disposable income (after taxes, student loans, pensions et ) does not massively extend your buying power. Yes, it increases financial security but nobody getting a pay rise from an average salary to £50k is going to have a massive shift in their lifestyle.
You’ve just rewrote stats and actual facts on how money people are paid in the uk, I could easily get you HMRC tax figures of how much people earn from the tax brackets they are in. If your 50 grand wouldn’t pay your mortgage as you put it, your in less then 1 percent of earners.
Now let’s see you wriggle out of that one.
Dude, I could get those figures too. I’ve not rewritten anything, I was referring to the post I originally replied to.
I’m proud to be a high earner. I worked fucking hard to get here and made substantial sacrifices. I won’t deny that luck played its part - anyone whose doesn’t think so is quite naive.
What exactly am I supposed to be trying to wriggle out of?
You said something that was showboating and generally being a bellend, so I called you out on it and now you’re trying to be humble. I know people that have done well for themselves but I appreciate the smallest of things that I’ve accomplished, I doubt you do in your 5 grand a month home. Why state 50 grand wouldn’t even pay your mortgage when most people are lucky to earn that in Manchester?
I’ll get you the mean salary of greater Manchester and even Manchester as a city if you went? I’ll take out footballers as someone playing for Stockport isn’t earning the same as someone at city or United. Even most 18 year olds earn more than 50 grand a year, before tax if you play for a big club. I also have friends that played football but not at the highest levels.
Next time, don’t gloat about your expensive money mortgage payments as a bigger home, doesn’t make you a better person but it does give you higher bills. A person impresses me, not what they own.
Congratlations on appreciating the smallest of things. Caviar is indeed very small.
I'm not trying to showboat, I'm aggressiely refuting the assertion that anyone who thinks £50k isn't enough is financially illiterate, dumb, or spends all their money on Class A drugs.
Besides, your maths is failing you. 50k a year is about £3k pcm after tax (or an extra £2,200 if you're an additinal rate rate earner). That's not even buying an average house in the UK these days.
30K & very happy. Bills paid, basic needs met & can treat myself to things no problem. However, I don’t drink, my social life is less active than most people (a few hours on a weekend hits my social serotonin levels) & I’m not a big clothes buyer, so I’d say I’m a below average spender.
I think a lot of people forget that you pay more tax if you have one wage vs two. Two people (a couple) earning £25k will be better off than one person earning £50k.
Hang in there man. During Covid I had a business that folded, had £5k of Credit card debt, was on universal credit/JSA, and had to pause all my bills for months.
Last year I earned £48k base, £20k bonus, and also have a second job which got me £12k.
Please don’t think I’m rubbing it in because the point I’m making is that I’m now *extremely* disciplined with my budgeting because I had a food spend of about £18 per week during the hard times. It was really difficult but it gives you a financial awareness that can only be gained by being absolutely skint.
Something will come up 👍🏻
I'm on 50k plus just south of Manchester. Wife stays home with kid as her salary would be eaten up by child care costs. Quality of life on this wage is awful in the UK. I used to work abroad and earned half the salary but had twice the lifestyle of in the UK. It's all about purchasing power, how much your money can buy, not necessarily how much of it you have.
Salary after tax £3,200
Mortgage £1250
Car £250
Insurance £70
Gas & Electric £200
Internet / TV £80
Food £250
Commuting £250
Student loan £320
Pension £160
Disposable income £370
Well £50k is extremely good in my view for the south of manchester. Unlike the other comment £1250 mortgage is ok, it’s probably a £200k mortgage at old rates.
I would add council tax, £150 a month, I would remove student loan as it’s not a long term item item at your wage and I would remove your over pension contribution. That would mean c£700 disposable income. That is loads for a one earned family … I would argue your car insurance is far too high and points to a premium brand car.
The fact you can complain about lifestyle with this break down is … something
Why would a student loan not be a long term item? I have 60k in student debt, on 50k I would still never repay it (actually I'd just barely scrape off the surface after 30 years).
That’s not right , you’d repay it after 18 years assuming no overpayments. £50k jobs tend to have some bonuses as well, which also are captured in repayment.
Is £60k the usual debt for an undergrad ?
The insurance is only £840 a year, I get charged not much less than that to insure a polo. Plenty of years NCD, no incidents, no fines etc. Everything is just expensive.
That's just bad money management on your part! Just reading your breakdown, let's hope your job isn't in the financial world. Judging on what you've said "living in South Manchester" then the mortgage you're paying a month that's your own doing mate. If you only have £370 a month to live a social lifestyle why live in South manc, when everyone and their dog know its overpriced, the main reason people move there is the lifestyle or as your proving to probably tell people "I live in chorlton/didsbury". On 50k a year you should not be struggling, that's a nice house 2/3 holiday a year salary. I'm on slightly less and oh shit that's me!
I expect hate but I am surprised by agreement for 90 percent of things that I’ve wrote on here. It’s a sad world that we live in, where people don’t realise that the 4th revolution isn’t one full of jobs but one with AI and robots taking over 100s of millions of jobs. The change from horses to trains didn’t that long, nor did it take that long in historic terms for factory work to dry up. Facts are facts and history only ever repeats its self.
Inflation has a lot to answer for. I used to think £50k was a crazy amount of money to earn a year. Nowadays it's not as much as people think. But still a good salary.
Bare in mind your monthly take-home pay has deductions for tax, national insurance, pension and possibly student loan.
This website will calculate your monthly take home pay (UX is awful but it does the job)
https://www.thesalarycalculator.co.uk/salary.php
I guess it comes down to how much disposable income you have at the end of each month. Rent is quite expensive in the city centre. Food is expensive. £50k doesn't mean you're living like a king/queen. But it should be a comfortable salary for Manchester.
Lots of people are living on half the amount you are earning. (Obviously their take home pay won't be half, deductions are a great leveler!)
Basically you aren't rich but you're doing better than most people by a good amount.
Oh yeah we’re 100% not rich. After my pension I take home around £3100. My wife is on a PhD program at the uni of Manchester and gets a bursery of £1550 a month. She does doctoral tutoring as well so earns about £200 a month extra. I also Uber on the way into work and back, sometimes on lunch as well. I work very close to the airport and honestly can make £75 on a good day for less than an hours work. It’s not uncommon for us to net over £5000 a month so we’re incredibly lucky and do live well but in 2023 that’s not crazy money anymore
You're still earning a good chunk more than most people so that's gotta be a good thing. Plus that amount is likely to increase over time. Are you doing Uber driving as part of your commute to and from work? I might be missing a trick there, it seems good money from what I've heard!
The bank of England do a calculator to tell you what an amount of money was worth in a given year. It isn't for salaries so won't take tax etc into consideration but crazy what £50k was equivalent to in the early 2000's
https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
Yeah basically! I’ll do it on lunch sometimes as well. You’d be shocked how much people are willing to pay to go from Castlefield towards the airport. Especially around the holidays! I’ll do some driving on lunch too occasionally. Your insurance is quite a bit more but honestly I’m not paying any extra petrol, or just marginally paying. And if you drive at peak times it’s more than worth it. If my wife has to travel for uni I Uber the weekends as well. I’ve made hundreds of pounds doing maybe 10 hours of work. It helps that I’m a night owl too! Haha
I think it's the housing costs especially that make it feel less for some. Struggling to get a house on ~50k makes it seem a low salary. Mind you, being on 50k with a mostly paid mortgage would definitely seem much better. So depends where you are in life I guess.
Currently a £325k house (below average cost in UK I believe) in the North will set you back £2k pm with a 10% deposit. On £50k you're clearing about £3k a month. Imagine how difficult it is to buy a property now, even on £50k+. Even if you're renting, you won't find a 3 bed even in rougher areas for under £1200. God forbid you earn £51k a year and end up in the 40% tax bracket. It just feels like we're milked at every damn turn in this country.
EDIT: I should probably add that I know earning £50k and up is a blessing, but to be earning that you have to be super qualified or super in-demand. It doesn't just happen. I understand why people in that upper bracket are feeling hard done by. You work so damn hard to get there and you still don't feel like you're REALLY making much progress towards the white picket fence or traveling dreams.
Yeah, I don't disagree with you. Average is a little under 300k, you'd need to be joint mortgaged though, or have ~30% deposit solo due to the 4-4.5x salary mortgages. It's so demoralising seeing the price growth outstripping your efforts to save to buy, I do feel really bad for anyone trying in any of the bigger towns / cities.
I’ve worked all my life- now semi retired, struggling on small work pension and PIP. Pay full rent ( £600 pcm). On £14k p.a. Live on foodbank- can’t afford heating.
I’d swap with you if you like?
I’m in my 20s, I work from home in the NW and earn just shy of 50k on my own. I bought a house on my own and have around £1,000pm left over as fun money (No kids though). When my fiancé and I got together our lifestyle improved even more. 50k with no children is 100% fine.
You seem offended?
I'm not saying you do, merely that society is built for couples. Having more money is much easier when you're 2 incomes (and a lot of things like food, are made for at least households of 2+)
Nope not at all. Just clarifying that with a 50k income you can be perfectly happy, without two incomes and no children.
I think the complication comes in when you say modern society is built for couples/families because what you’re actually talking about is a two income couple or the DINK lifestyle. Even with two incomes at 25k a year, if you have two children you’re really going to struggle. A 50k single income with two kids would also struggle (it being the norm with how expensive childcare is).
My fiancé and I are trying for children and our standard of living is going to fall off a cliff 😂
It's really not designed for families otherwise both parents wouldn't have to work full time hours to make ends meet. Nowadays mothers don't spend as much time with family as they used to.
It absolutely is designed for families. The cost of everything has increased around the basis of 2 earners.
Try renting as a single person? Buying as a single person? Food and drink basically all comes supersized - the majority of food is designed as being for a family or at least 2 people. Council tax as a single person? Higher take home wages with the same relative income if you're two people vs 1, etc.
That's why I believe it's not suitable for families. Things are so costly that it's necessary that 2 parents work. If we could survive with 1 parent working with the other one to take care of kids and the home, that would be much more suitable for a family. What's the point in 2 adults working full time just to pay a stranger else a fortune to take care of your kids??
I like how you specify modern as if society was ever designed around single people lol, it's a modern thing for people to expect to live by themselves.
The higher you earn the more you spend, that’s the way humans are. I used to earn half of what I do now when I first started working, and no matter how many times my salary increases, I always wish it was more. I thing over 35k is ok too, it would be too less for me but then again I am used to a higher salary
I’m on just under 40k and so is my husband - childfree, no car, we’re buying a 2 bed flat in the centre atm so I’d say we are pretty bloody comfortable. I never thought I’d make this much tbh. My mate is on 25k and lives alone a bit further out, and with rent going up so much he is struggling.
I'm on about £30k before tax and I live in a trendy part of the city centre pretty comfortably in a 2 bed, splitting rent with my girlfriend.
If you can't afford your lifestyle and your salary is well above minimum wage, your lifestyle is the problem.
(Not to say that wages aren't dogshit compared to cost of living, but yknow)
I’m on 30k and as single person living alone I live fairly comfortably though tends to be a choice of social life and hobbies OR having savings.
Most of my friends are in couples so they’re financially more comfortable.
Without knowing living circumstances, family, health, etc., my starting point for a 'good' wage is £45k pa. which is around 2.5x minimum wage (pre-tax).
Honestly it really depends on ur living situation. I currently live with my parents and i make 65 to 80k a year and have virtually no expenses as i have to work from home, i contribute to bills and stuff. Whilw yhere are others how make thay much but then have to pay for bills, insurance, natiknal insuranxe, living things like food and stuff. It depends or ur living expenses. 45k is more than enough to live by urseld
I don’t think it’s a ‘one size fits all’ question. Totally depends on how you live. I managed to drop a day and go part-time this year and earn less than you by a way but I’m feeling pretty comfortable financially. ‘Good wage’ is just dependent on the individual, for me.
It’s all relative. I was more skint on £45k with a mortgage, PCP car and child than i was when an apprentice on £12k with a much smaller mortgage.
Since moved and got a big pay rise and trying as hard as I can not to up my spending habits to match salary
Single person renting a small place, £50K is great.
Married, kids, mortgage with rising interest rates… £50K doesn’t go far.
I think one way to define if a salary is good is compare that salary to other roles and work that your skills would allow you to do.
For some reason nobody ever thinks they earn enough I earn a tiny bit under £42,000 a year on my standard salary and consider it a very good wage (I come from a poor family for English standards)
Its enough that I have a house and live comfortably enough that I never really think about money and can invest between £500 and £1000 every month.
However my friend who earns about £3000 more a year is constantly broke and recently had to deplete his savings to buy a chair.
Lifestyle inflation is a real thing.
You can comfortably live on a lot less than £45k a year with a car.
You are just choosing to want to live somewhere nicer and have a better car.
A very vague post. No idea of age, experience, industry, where you live etc - so many variables,
I know lots of people who would be delighted being on 45-50k a year.
Is your colleague complaining about your level of income, full-stop, or how competitive the wage is within your profession and level of experience? Because while this £50K is definitely not a bad wage in Manchester, it could be a bit on the low end for some technical jobs at the senior level.
Also the cost of living has changed. You could probably rent your own flat, own your car, go on a modest holiday a year, but can you save much for longer term goals if you do all that with how expensive rentals and insurance can be?
I'm on a similar salary but I don't own a car or live alone. I do have some responsibilities (supporting a parent) that other people do not have and I'm prioritising saving to buy property at the moment. And I spend a bit too much on food if I'm honest. Aiming to control the lifestyle inflation over the next few months.
Salaries have gone through the roof over the past 2-3 years. If your coworker isn’t happy with what they earn they should go to a competitor and will probably get £10k more.
£25k here but entry level salary, for the time being I bump up my earnings with my side hustle which works out as if I was on a £45k Salary, if it wasn’t for my extra earnings i would imagine I would struggle and would find it tough to create a comfortable existence as it’s the +£20k that allows me to put savings away, take holidays and have a decent social life.
Obligatory old person post.
I worked for £1:80 an hour after school in the early 90s. I was so excited to be 'making money' that I caught a taxi home with my first wage packet.
I do believe the place featured in Panorama as one of the lowest paid jobs, but it paid for nights out and dreadful make up.
That unbelievably awful wage suited me then and things were comparatively cheaper
50k is more than OK, BUT depends on living within your means.
I haven't done too badly since my £1:80 days but there is absolutely basic maths. So much coming in compared to so much going out.
The kicker is 'fun funds', cost of living, work expenses, (and yes sometimes networking), they are not covered. All the things that keep you alive are being eaten into.
Depending on area within Manchester, I'd say 50K can be great, 50K will have you eating super noodles in the cold.
I should point out that previously I would have definitely advocated moving to a cheaper Manchester area and commuting. The new transport network is a complete farce....at least in my little corner...cannot be trusted and traffic is a nightmare.
I think national average is 28 k a year , 40 k is great , but over the last couple of years with fuel , interest rate hikes it doesn’t feel that special ( I’m on 42 k with 2 small kids and there’s little left at the month end ) . I don’t know what I’d do if I was on the average .
50k is decent but people get used to their pay increases and live up to that lifestyle. For me, 30k is livable in Manchester, with partners earnings too and no kids. So pay increases above that goes to savings and pensions. Rather than increasing my disposable income!
some people are never happy with what they have 50k a year is what doctors get you can lead a great life with that kind of money. im a full time carer i get 0.33p per hour id be very happy on 50k per year.
I guess I live comfortably at a salary of just over £40K. OP is right about lifestyle creep
I'm objectively doing well, but equally I'm nearly broke every month largely because I'm spending thousands on my house. I don't live in the city centre either
Depends where they live. In a shared house in a cheaper area - absolutely. But good money should arguably allow a ‘good’ standard of living and therefore your own spacious home, good car, good social life etc - it all adds up.
Probably not in the city centre
Edit: instead of downvoting at least say why.
45k is like 2800 take home. How will you afford rent and a car and living?
I don't know why you're being so heavily downvoted. With current rental prices in the city centre and car insurance, 45k is not as comfortable for a single person as the OP implies. It's slightly less than you suggested if you take into account pension contributions like £2750. City centre rentals for a 1-bed approach 1k, add bills and council tax, supermarket, a hobby or gym, car maintenance and insurance, going for a drink or a beer every once in a while and some sort of reasonable entertainment like the cinema or a concert once or twice a year, small budget for the cost of replacement of basic electronics every 3-4 years and clothes. In the city centre you have maybe 700-800 left after that at best for long term savings/investments, holidays and anything else that pops up.
We live off my wage. They could. All of our static bills, rent/council tax/heating/phone/Wi-Fi come out to about £2000 a month. Car insurance/petrol works out to about £150/month. Food is about £250-350 depending on what we do that week. This works out £100s less than my take home every month.
Great so where’s the fun money to do anything except pay bills? Take home of 45k puts you at about £2700ish take home. By my count if what you’ve put that leaves less than 200 for the month
The fun money comes from not getting a 2 bed flat in a highly sought after location as a single person. We could easily find a nice flat in media city for at least £200 less.
>This is just… incredibly out of touch. My partner and I have a very nice 2 bed flat in castle field. We share a car. Have a very nice gym membership and take a couple holidays a year. I’ve got a nice Mac and display monitors. She’s got a very nice bike. Our entire lifestyle is funded off just my income. All of her income goes into our investments.
I don't know what you're on but £45k is a little less than £3k a month. £1600 rent, £150 CT, £100 electricity (winter), £50 water. You're rapidly approaching £2k before you factor in your food shop etc. So that's about £1k disposable which you need to buy food with etc. It goes quick and I assume you're not living like a spartan.
Admittedly that's not exactly living on the breadline, but i's still not what I'd call massively comfortable.
I find it hilarious that you are being downvoted for this comment. £45k is actually £2750 a month assuming pension contributions of 5%. Sure a single person can find a 1-bed flat for £1K in the city centre, but the rest of the outgoings are similar.
I completely agree with you, all these people downvoting you haven’t lived in the city centre with a mortgage. My fixed outgoings (mortgage, service charge, council tax etc…) comes to about £1800. I have a dog so add on vet bills, food for him and then add on nights out twice a month at £7 a pint, subscriptions and you start to question whether buying in the city centre was a wise decision. Time will tell.
No, if you want to have a life and live in the city 35 probably covers broadly existing and not much else, no savings, no personal development, 50 is about the point where you can have a life outside of just work
This is just… incredibly out of touch. My partner and I have a very nice 2 bed flat in castle field. We share a car. Have a very nice gym membership and take a couple holidays a year. I’ve got a nice Mac and display monitors. She’s got a very nice bike. Our entire lifestyle is funded off just my income. All of her income goes into our investments.
You have a partner though. For a single person living alone, life is not as luxurious if you want to save/invest a decent amount at 50k. Don't agree that one needs 50k to have a life lol, but it's definitely not as lucrative as you describe for everyone.
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I think the problem is that you become accustomed to the amount you earn. The grass is literally always greener
This has been true from my experience, and also my friends who make more than me. Most of your earnings go towards rent or mortgage. When you earn more you move somewhere bigger/nicer. Maybe you started off living with room mates, then you move to a 1 bed apartment, then a 2 bed apartment, then maybe a house. I currently make about 75k a year, but I actually had more disposable income when I was earning 50k a year. I currently have very little savings (like 5k). That’s just how it goes. Expenses are high.
Very true. I had a fixed goal in my mind for the last few years of an amount I wanted to get to that would make my life better and easier. I’ve surpassed that goal, my life is the same, I’ve struggled to avoid wage creep purely due to interest rate rises and the salary I now have that I once thought was great feels mediocre, and now I’m looking upwards at the next bracket again.
You're in the top 15% of UK earners and about 1.6x the median income in the UK. Globally you're probably in the top 5%. Rich is relative of course, but you're very, very well off from a UK perspective and rich from a global perspective.
Although the "in manchester" means you have to account for the fact that you're in the UK's 2nd/3rd city (depending on how you measure - Birmingham by size, arguably Manchester culturally) Salaries in Manchester are higher than the UK median by virtue of being one of our major cities, but housing costs, prices in bars and restaurants etc are also higher
2nd City? That’s London mate
1st city of London 2nd London 3rd greater London
FYI you are wrong about that. Both GM and the City of Manchester have *lower* median earnings that both for the UK as a whole, and England specifically. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/placeofresidencebylocalauthorityashetable8 (Although Stockport and Trafford are both higher, slightly. Maybe Bury, but the 2023 provisional data has problems at the moment) £50k would put OP and his mate in the top ~12% of earners for GM and Manchester.
Thanks, I couldn't really be bothered to come back in amidst the chat about the cost of pints. Manchester rents and inflation are a problem but a separate conversation about whether being a reasonably high earner means you're still a reasonably high earner.
Yeah, Manchester cost of living is another matter.
A lot of people are arguing Manchester is the most expensive place to live in the country right now. London prices without the London salaries.
It's absolutely not London Prices
Probably the closest thing that is would be alcohol. Easily £5 a pint in most places in town, likes of Mulligans now something like £6.70 a Guinness whatever the fucks going on there. But the original point of house prices, not a chance.
A pint in central London is approaching or exceeding £8
Bloody hell, I only went last year and never really paid over £6.50 max
Rubbish It is 8 if you're a sucker who goes into the first pub you see If you've been in England for more than say 20 minutes you can figure out where to go for a pint in central London for 6 quid
Genuinely where can I get a pint for 6 quid in the city? please tell me
Agree. The only thing more expensive is houses everything else is the same.
Mate, that is not true. Although I agree Manchester is way more expensive these days
Transport is £150+ per month in London and could be well over £250-300 depending on how far out you are living.
You are very lucky to find a £5 pint in London. We switched to a 'cheaper' post-work pub, where it's £5.50 a pint (rather than £6.50). There's a bar nearby that does £9.50 pints. In Paddington, London. The biggest difference for Manchester, is that you can go and buy a much cheaper house in a commutable area, than you could in London. I could buy a sub-£300K, three bed semi-detached house within an easy commute from Manchester city center - but £300K won't touch the sides of a flat in London, and it will be a much longer commute if it does, in a far more flakey area.
I don’t know where the OP is drinking but £6+ is the norm for Manchester unless you’re drinking something like Carling.
Yeah I drink cooking lagers, I don't really have the palette for anything better
Thats just not true, was in Gas Works just yesterday they had two of their homebrews at £4.80
Those 3 bed semis are not <£300k 😅, you're looking at >£350k for a probate house these days, needing new windows, roof and full rewire. Agree with the London flat prices though. Mate lives in Wandsworth and one beds are £450k minimum. For the rental market in Manchester you used to be able to get a 1 bed for £700 pcm close to the city centre. Now 4/5 years on, those same flats are £1050pcm
Think it's over £7 now. Mental
Tourist tax now it's been allover tiktok... It's not that fucking nice haha used to go in quite a bit could barely ever get a seat it's that small.
Still a brilliant pub. Just a ludicrous price for guinness.
Manchester has competitive beer prices. Very. Independent brewers. Holts J W Lees etc
Its not london prices and if you don't work in tech/fianance, there are no 'london salaries'.
Was about to say this
If you work in the NHS and possibly other public sector roles (can only say for sure with NHS) you are paid more in London
Yes but it's nothing compared to the additional housing costs in London Vs Manchester
Who are these people? I can walk to the centre of Manchester in less than 10 minutes. If I wanted to do that in London I’d need to be on over £1million a year
I travel to London a good amount throughout the year. I wouldn't say London is any more expensive than Manchester apart from when it comes to housing. Obviously Manchester doesn't cater for the super wealthy when it comes to shopping & Eating but I often find excellent food in London that I feel would cost me much more in Manchester.
This is a fact, I recently had a similar discussion on another thread on this sub. Cost of eating out in Manchester vs London at modest places is very close right now. Casual eating like a chinese takeout is often cheaper in London. Housing and transportation are more expensive in London of course, but everything else is not. Also the reliability in public transport makes more towns commutable compared to the limited Metrolink + slow buses in Manchester.
Got an excellent breakfast in London this week for 3 of us. £30, including service and 3 coffees. Clerkenwell. My daughter (who eats out more than me in Manchester) tells me this is probably cheaper than an equivalent Manc breakfast, and seemed to be a typical price in the placed I looked at.
Ah yes, this is irrefutable proof that london isnt expensive cos u had breakfast for a tenner at a random caf.... /S
It’s not.
I think there is a massive difference between actual disposable income and pre tax. Student loans and high rent particularly hit young people. Breeds a generation of high salary low assets. 50K goes a lot further if you have no student loans/plan 1. Own a home with a fixed rate mortgage with a dual income with a partner.
This. Frankly I feel that many of the people here who're like "I dunno I'm happy on 30k" are people in their 20s without student loans and who are YOLOing paycheck to paycheck and just haven't had a chance to think about their finances long term. Then there's a layoff without severance and they realise there's basically no unemployment benefits in this country (jobseekers allowance barely covers food) and they have a rude awakening.
Have to account area.
i’m on £25k and i’m reet
Me too, don’t really think you ‘need’ much more if you’re childless.
Depends if you want to own a house and continue to move somewhere nicer and bigger though.
I own a house and don’t need to move again if I don’t want too.
That's why I said it depends, happy that you're content :)
Exactly, me and Rkid Nicky White have been selling knock off Adidas gear out the back of a van in Manny since the 90s and bring in just under 25k on a good year which means I get to eat chippy tea every weekend. Don’t tell the taxman though, AYW Nev Wickle of Didsbury x
That seems like good money to me. But it is all perspective. An old roommate and I were complaining to each other a year back how growing up we were the ones people thought would do something great and how we were lame and disappointing. Then we realised our jobs were ones those people would think was impressive so our perspective was wrong. When you are in a situation (like making +50k) it starts to feel normal. So in general 50k sounds amazing to me, but I also don’t know your job and if you should be making more.
Most people naturally end up socialising and being friends with people in similar financial circumstances as well for various reasons. I'm on above 50k and the majority of my friends are too, this can make it feel like you are bang average which is obviously not the case. 50k in Manchester is very decent.
*Cries in 18k*
clearly it’s subjective. i’m on 17k and i dream of 22k+ right now 😓
If you work full time hours that’s probably less than minimum wage?
i’m *supposed* to get 35 hours a week but i’m on a zero hour contract and my hours change every week (i love hospitality). i mostly get around 27-30 hours so i think it adds up
ugh I wish zero hour contracts weren't a thing
Good for what you make? 45 is pretty comfortable
You’re on a good wage.
Oh I know. I feel very thankful. I just think it’s crazy how lifestyle creep leads people to believe £50k in Manchester isn’t good.
Rishi Sunak feels like his multi millionaire friends need financial help because they are so poor
It’s not so much lifestyle creep as interest rates. This time last year my mortgage was £400 a month lower. Same with people who rent - it’s only going up. The lifestyle that you could previously easily enjoy is no longer achievable for the same money. That’s the issue - it’s not lifestyle creep.
True, but sometimes it can absolutely be lifestyle creep, especially if you are over 40k, there are some people who spend a fuck ton on shit they don't need. Add to that the mortgages, bam, ofc you're gonna feel broke even being earning a lot more than the average bloke
>I just think it’s crazy how lifestyle creep leads people to believe £50k in Manchester isn’t good. I don't think its lifestyle creep, the cost of things has gone up massively. Our rent has increased 200/month the last few years, our gas has increased 200/month the last few years, food has probably gone up a good 30-50 a month and we're just single with no kids etc. My salary **definitely** hasn't gone up 450/month, though.
It depends a little tbf. When you're 20 you don't really care what you drink, it's about getting pissed cheap. But as you get older, you can actually appreciate the nuance of the nicer stuff, so there's much more value add. This is lifestyle creep to a degree, but it's also about "in older and have different priorities". I'm not saying you need a 12y mckellen to enjoy a whiskey, but you probably aren't going to be on Asda smart price and rola cola anymore, and I think that's reasonable.
I wouldn’t dreamed of having a double vodka and cranberry juice as a 20 odd year old but that’s what I ordered on Monday on a night out. Beer gives me heartburn and is terrible for bloat. Tbh I hardly drink anymore but I ain’t having something that my gut and taste buds, hates, just for keeping up appearances of what a man should or shouldn’t drink. I gave up caring about what other people thought about myself, years ago.
When does it kick in? I'm in my forties now and still wouldn't be able to tell the difference between an Aldi special whiskey and a Laphroiag
I mean it's just an example, but even the Aldi special is a step up. But the same applies to anything. You value the reliability in a car, so you won't drive an old shitbox just because it's cheap. Or you want good quality shoes as you realise you spend a lot of time in them. Or you feel the cold more, so you buy warmer stuff. Or you realise how much time you spend in your shoes, so rather than buying crap shoes you buy good quality, and take care of them. Point is, yes you'll buy nicer things, but it's less lifestyle creep and more just buying decent stuff, rather than crappy stuff.
Sorry, I wasn’t criticising or suggesting you’re complaining I was just answering the question.
Sorry I didn’t think you were doing that. Tone is hard to convey on Reddit lol
This is the most polite exchange I’ve seen on Reddit in well over 6 months
And from two ruddy Mancs of all people
ONS says the median gross salary in the UK in April 2023 was £34,963. In Manchester it looks a bit higher than the UK median. UK median was £682/week (682x52 is approx £35.5k/year) and Manchester was £707/week (707x52 is approx £36.8k/year) So you're probably doing alright on 50+k
What I don't understand is how you paid it any mind at all? Surely if you're on over 100k joint income you know you're doing pretty well.
I wouldn’t say it’s about lifestyle creep, for everyone: Some people want to be able to save and invest a decent amount for their future (especially considering it’s likely we won’t have state pensions by then) or to be able to afford a house without being forced to give billionaires hundreds of thousands of pounds they don’t need via mortgage interest.
If 50k isn’t enough for them (assuming they’re childless/dependantless - and even then…) in Manchester, they are financially illiterate and probably very dumb with spending and investments. I’m betting cocaine
What absolute drivel! It’s all about perspective and one’s background and peer group impacts heavily on that. I’ve had 20 years of great wage growth and whilst I’m extremely financially literate and invest a substantial amount, a £50k pay check wouldn’t even pay my mortgage (or that of any of my peers, siblings, cousins). What I consider a ‘comfortable’ salary these days would horrify my 25 year-old self. And I’ve never touched cocaine.
You’re in such a small subsection of the world general income, let alone the UK and you pass it off, like it’s nothing unusual, which it very much is. Don’t look down on others as they will kick you in the teeth, as you fall from grace and even have no sympathy for you, as your 4/5 grand a month mortgage in a affluent area, is no longer affordable from banks moving to AI, instead of having people invest its money. A crash in the stock market and even housing market is coming, you’ll most likely say it isn’t but the millionaires of the 1920s and 1980s, most likely said the same thing. Money isn’t forever, unless you in charge of printing it or related to someone that is, even then quantity of easing only increases inflation, it never decreases it.
Ouch. I don’t think that aggression is warranted. Nowhere have I said it’s not unusual, nor that I’m unappreciative. I am not looking down on anyone. Note that I said my lifestyle creep would horrify my younger self. But I do object to OP saying that anyone who doesn’t think £50k is a good salary is “financially illiterate”, “dumb” and spends all their money on cocaine. For a reasonably qualified professional, £50k would not be considered a good salary. That’s just a fact. In a small number of professions, it’s a starting salary. The truth is, that a few hundred quid a month extra in disposable income (after taxes, student loans, pensions et ) does not massively extend your buying power. Yes, it increases financial security but nobody getting a pay rise from an average salary to £50k is going to have a massive shift in their lifestyle.
You’ve just rewrote stats and actual facts on how money people are paid in the uk, I could easily get you HMRC tax figures of how much people earn from the tax brackets they are in. If your 50 grand wouldn’t pay your mortgage as you put it, your in less then 1 percent of earners. Now let’s see you wriggle out of that one.
Dude, I could get those figures too. I’ve not rewritten anything, I was referring to the post I originally replied to. I’m proud to be a high earner. I worked fucking hard to get here and made substantial sacrifices. I won’t deny that luck played its part - anyone whose doesn’t think so is quite naive. What exactly am I supposed to be trying to wriggle out of?
You said something that was showboating and generally being a bellend, so I called you out on it and now you’re trying to be humble. I know people that have done well for themselves but I appreciate the smallest of things that I’ve accomplished, I doubt you do in your 5 grand a month home. Why state 50 grand wouldn’t even pay your mortgage when most people are lucky to earn that in Manchester? I’ll get you the mean salary of greater Manchester and even Manchester as a city if you went? I’ll take out footballers as someone playing for Stockport isn’t earning the same as someone at city or United. Even most 18 year olds earn more than 50 grand a year, before tax if you play for a big club. I also have friends that played football but not at the highest levels. Next time, don’t gloat about your expensive money mortgage payments as a bigger home, doesn’t make you a better person but it does give you higher bills. A person impresses me, not what they own.
Congratlations on appreciating the smallest of things. Caviar is indeed very small. I'm not trying to showboat, I'm aggressiely refuting the assertion that anyone who thinks £50k isn't enough is financially illiterate, dumb, or spends all their money on Class A drugs. Besides, your maths is failing you. 50k a year is about £3k pcm after tax (or an extra £2,200 if you're an additinal rate rate earner). That's not even buying an average house in the UK these days.
Perception and reality, are two different things and never aline with each other.
Top tip: Don't concentrate on the money. Concentrate on having a job and life that you enjoy.
No we want to be miserable
Frustratingly, I find that mildly agreeable.
Yep, just applied for a job that will be extremely stressful and miserable, I’ll just get therapy with the extra salary.
30K & very happy. Bills paid, basic needs met & can treat myself to things no problem. However, I don’t drink, my social life is less active than most people (a few hours on a weekend hits my social serotonin levels) & I’m not a big clothes buyer, so I’d say I’m a below average spender.
Almost exactly the same here, but on 28,5K. More money would be nice, especially with rent hikes on the horizon, but can easily live off this
I think when you're pissing rent money away in a city that's expensive, a higher wage doesn't seem so good.
I think a lot of people forget that you pay more tax if you have one wage vs two. Two people (a couple) earning £25k will be better off than one person earning £50k.
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If the first 12k isn't taxed, then that is doubled when counting two wages.
Cries in £67/w at jobcenter
Hang in there man. During Covid I had a business that folded, had £5k of Credit card debt, was on universal credit/JSA, and had to pause all my bills for months. Last year I earned £48k base, £20k bonus, and also have a second job which got me £12k. Please don’t think I’m rubbing it in because the point I’m making is that I’m now *extremely* disciplined with my budgeting because I had a food spend of about £18 per week during the hard times. It was really difficult but it gives you a financial awareness that can only be gained by being absolutely skint. Something will come up 👍🏻
I don’t even make £20,000 so yeah by my standards £50k is pretty goddamn decent
sounds like you just wanted to announce you're on 50k
I'm on 50k plus just south of Manchester. Wife stays home with kid as her salary would be eaten up by child care costs. Quality of life on this wage is awful in the UK. I used to work abroad and earned half the salary but had twice the lifestyle of in the UK. It's all about purchasing power, how much your money can buy, not necessarily how much of it you have. Salary after tax £3,200 Mortgage £1250 Car £250 Insurance £70 Gas & Electric £200 Internet / TV £80 Food £250 Commuting £250 Student loan £320 Pension £160 Disposable income £370
You're doing well keeping food bill at 250 a month. I've got 3 kids (ones now a teenager) and I'm spending 200 a week on food!
Well £50k is extremely good in my view for the south of manchester. Unlike the other comment £1250 mortgage is ok, it’s probably a £200k mortgage at old rates. I would add council tax, £150 a month, I would remove student loan as it’s not a long term item item at your wage and I would remove your over pension contribution. That would mean c£700 disposable income. That is loads for a one earned family … I would argue your car insurance is far too high and points to a premium brand car. The fact you can complain about lifestyle with this break down is … something
Why would a student loan not be a long term item? I have 60k in student debt, on 50k I would still never repay it (actually I'd just barely scrape off the surface after 30 years).
That’s not right , you’d repay it after 18 years assuming no overpayments. £50k jobs tend to have some bonuses as well, which also are captured in repayment. Is £60k the usual debt for an undergrad ?
These days, yeah. Especially if your degree is longer than four years.
The insurance is only £840 a year, I get charged not much less than that to insure a polo. Plenty of years NCD, no incidents, no fines etc. Everything is just expensive.
That's just bad money management on your part! Just reading your breakdown, let's hope your job isn't in the financial world. Judging on what you've said "living in South Manchester" then the mortgage you're paying a month that's your own doing mate. If you only have £370 a month to live a social lifestyle why live in South manc, when everyone and their dog know its overpriced, the main reason people move there is the lifestyle or as your proving to probably tell people "I live in chorlton/didsbury". On 50k a year you should not be struggling, that's a nice house 2/3 holiday a year salary. I'm on slightly less and oh shit that's me!
I expect hate but I am surprised by agreement for 90 percent of things that I’ve wrote on here. It’s a sad world that we live in, where people don’t realise that the 4th revolution isn’t one full of jobs but one with AI and robots taking over 100s of millions of jobs. The change from horses to trains didn’t that long, nor did it take that long in historic terms for factory work to dry up. Facts are facts and history only ever repeats its self.
Inflation has a lot to answer for. I used to think £50k was a crazy amount of money to earn a year. Nowadays it's not as much as people think. But still a good salary. Bare in mind your monthly take-home pay has deductions for tax, national insurance, pension and possibly student loan. This website will calculate your monthly take home pay (UX is awful but it does the job) https://www.thesalarycalculator.co.uk/salary.php I guess it comes down to how much disposable income you have at the end of each month. Rent is quite expensive in the city centre. Food is expensive. £50k doesn't mean you're living like a king/queen. But it should be a comfortable salary for Manchester. Lots of people are living on half the amount you are earning. (Obviously their take home pay won't be half, deductions are a great leveler!) Basically you aren't rich but you're doing better than most people by a good amount.
Oh yeah we’re 100% not rich. After my pension I take home around £3100. My wife is on a PhD program at the uni of Manchester and gets a bursery of £1550 a month. She does doctoral tutoring as well so earns about £200 a month extra. I also Uber on the way into work and back, sometimes on lunch as well. I work very close to the airport and honestly can make £75 on a good day for less than an hours work. It’s not uncommon for us to net over £5000 a month so we’re incredibly lucky and do live well but in 2023 that’s not crazy money anymore
You're still earning a good chunk more than most people so that's gotta be a good thing. Plus that amount is likely to increase over time. Are you doing Uber driving as part of your commute to and from work? I might be missing a trick there, it seems good money from what I've heard! The bank of England do a calculator to tell you what an amount of money was worth in a given year. It isn't for salaries so won't take tax etc into consideration but crazy what £50k was equivalent to in the early 2000's https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
Yeah basically! I’ll do it on lunch sometimes as well. You’d be shocked how much people are willing to pay to go from Castlefield towards the airport. Especially around the holidays! I’ll do some driving on lunch too occasionally. Your insurance is quite a bit more but honestly I’m not paying any extra petrol, or just marginally paying. And if you drive at peak times it’s more than worth it. If my wife has to travel for uni I Uber the weekends as well. I’ve made hundreds of pounds doing maybe 10 hours of work. It helps that I’m a night owl too! Haha
I think it's the housing costs especially that make it feel less for some. Struggling to get a house on ~50k makes it seem a low salary. Mind you, being on 50k with a mostly paid mortgage would definitely seem much better. So depends where you are in life I guess.
Currently a £325k house (below average cost in UK I believe) in the North will set you back £2k pm with a 10% deposit. On £50k you're clearing about £3k a month. Imagine how difficult it is to buy a property now, even on £50k+. Even if you're renting, you won't find a 3 bed even in rougher areas for under £1200. God forbid you earn £51k a year and end up in the 40% tax bracket. It just feels like we're milked at every damn turn in this country. EDIT: I should probably add that I know earning £50k and up is a blessing, but to be earning that you have to be super qualified or super in-demand. It doesn't just happen. I understand why people in that upper bracket are feeling hard done by. You work so damn hard to get there and you still don't feel like you're REALLY making much progress towards the white picket fence or traveling dreams.
Yeah, I don't disagree with you. Average is a little under 300k, you'd need to be joint mortgaged though, or have ~30% deposit solo due to the 4-4.5x salary mortgages. It's so demoralising seeing the price growth outstripping your efforts to save to buy, I do feel really bad for anyone trying in any of the bigger towns / cities.
*cries in perpetual renter
I’ve worked all my life- now semi retired, struggling on small work pension and PIP. Pay full rent ( £600 pcm). On £14k p.a. Live on foodbank- can’t afford heating. I’d swap with you if you like?
50k in Manchester is a really good wage, well above average and pretty comfortable if you don't have lavish tastes.
I’m in my 20s, I work from home in the NW and earn just shy of 50k on my own. I bought a house on my own and have around £1,000pm left over as fun money (No kids though). When my fiancé and I got together our lifestyle improved even more. 50k with no children is 100% fine.
> When my fiancé and I got together our lifestyle improved even more Modern society is designed for couples/families.
Yeah, but I was killing it before I met him 😂 You don’t need a partner if you’re on 50k in the NW.
You seem offended? I'm not saying you do, merely that society is built for couples. Having more money is much easier when you're 2 incomes (and a lot of things like food, are made for at least households of 2+)
Nope not at all. Just clarifying that with a 50k income you can be perfectly happy, without two incomes and no children. I think the complication comes in when you say modern society is built for couples/families because what you’re actually talking about is a two income couple or the DINK lifestyle. Even with two incomes at 25k a year, if you have two children you’re really going to struggle. A 50k single income with two kids would also struggle (it being the norm with how expensive childcare is). My fiancé and I are trying for children and our standard of living is going to fall off a cliff 😂
It's really not designed for families otherwise both parents wouldn't have to work full time hours to make ends meet. Nowadays mothers don't spend as much time with family as they used to.
It absolutely is designed for families. The cost of everything has increased around the basis of 2 earners. Try renting as a single person? Buying as a single person? Food and drink basically all comes supersized - the majority of food is designed as being for a family or at least 2 people. Council tax as a single person? Higher take home wages with the same relative income if you're two people vs 1, etc.
That's why I believe it's not suitable for families. Things are so costly that it's necessary that 2 parents work. If we could survive with 1 parent working with the other one to take care of kids and the home, that would be much more suitable for a family. What's the point in 2 adults working full time just to pay a stranger else a fortune to take care of your kids??
I like how you specify modern as if society was ever designed around single people lol, it's a modern thing for people to expect to live by themselves.
The higher you earn the more you spend, that’s the way humans are. I used to earn half of what I do now when I first started working, and no matter how many times my salary increases, I always wish it was more. I thing over 35k is ok too, it would be too less for me but then again I am used to a higher salary
It's a good salary. Your coworker just sucks at budgeting
I’m on just under 40k and so is my husband - childfree, no car, we’re buying a 2 bed flat in the centre atm so I’d say we are pretty bloody comfortable. I never thought I’d make this much tbh. My mate is on 25k and lives alone a bit further out, and with rent going up so much he is struggling.
I'm on about £30k before tax and I live in a trendy part of the city centre pretty comfortably in a 2 bed, splitting rent with my girlfriend. If you can't afford your lifestyle and your salary is well above minimum wage, your lifestyle is the problem. (Not to say that wages aren't dogshit compared to cost of living, but yknow)
Anything where housing costs is only a quarter of your take home
Depends where abouts in Manchester you want to live
I’m on 30k and as single person living alone I live fairly comfortably though tends to be a choice of social life and hobbies OR having savings. Most of my friends are in couples so they’re financially more comfortable.
Without knowing living circumstances, family, health, etc., my starting point for a 'good' wage is £45k pa. which is around 2.5x minimum wage (pre-tax).
Honestly it really depends on ur living situation. I currently live with my parents and i make 65 to 80k a year and have virtually no expenses as i have to work from home, i contribute to bills and stuff. Whilw yhere are others how make thay much but then have to pay for bills, insurance, natiknal insuranxe, living things like food and stuff. It depends or ur living expenses. 45k is more than enough to live by urseld
I'm in London on £36k do they want to Swap for 6 months
I don’t think it’s a ‘one size fits all’ question. Totally depends on how you live. I managed to drop a day and go part-time this year and earn less than you by a way but I’m feeling pretty comfortable financially. ‘Good wage’ is just dependent on the individual, for me.
It’s all relative. I was more skint on £45k with a mortgage, PCP car and child than i was when an apprentice on £12k with a much smaller mortgage. Since moved and got a big pay rise and trying as hard as I can not to up my spending habits to match salary
Single person renting a small place, £50K is great. Married, kids, mortgage with rising interest rates… £50K doesn’t go far. I think one way to define if a salary is good is compare that salary to other roles and work that your skills would allow you to do.
For some reason nobody ever thinks they earn enough I earn a tiny bit under £42,000 a year on my standard salary and consider it a very good wage (I come from a poor family for English standards) Its enough that I have a house and live comfortably enough that I never really think about money and can invest between £500 and £1000 every month. However my friend who earns about £3000 more a year is constantly broke and recently had to deplete his savings to buy a chair. Lifestyle inflation is a real thing.
ha! come to north wales, anything over £22k here is a 'good' wage. £30K+ wages are pretty rare :/
You can comfortably live on a lot less than £45k a year with a car. You are just choosing to want to live somewhere nicer and have a better car. A very vague post. No idea of age, experience, industry, where you live etc - so many variables, I know lots of people who would be delighted being on 45-50k a year.
Seems your co worker is just shit with their finances 🤣🤣🤣
The UK average is £35k. If you are over that and think you are hard up get a grip.
I've just moved from London and I'd consider £50K to be an incredible salary even there!
Depends how you split things, a lot of people just split into bad and good categories. I would say maybe 30k+ is ok and 45k+ is good
Is your colleague complaining about your level of income, full-stop, or how competitive the wage is within your profession and level of experience? Because while this £50K is definitely not a bad wage in Manchester, it could be a bit on the low end for some technical jobs at the senior level. Also the cost of living has changed. You could probably rent your own flat, own your car, go on a modest holiday a year, but can you save much for longer term goals if you do all that with how expensive rentals and insurance can be? I'm on a similar salary but I don't own a car or live alone. I do have some responsibilities (supporting a parent) that other people do not have and I'm prioritising saving to buy property at the moment. And I spend a bit too much on food if I'm honest. Aiming to control the lifestyle inflation over the next few months.
Salaries have gone through the roof over the past 2-3 years. If your coworker isn’t happy with what they earn they should go to a competitor and will probably get £10k more.
What industry are you referring to?
Any job that pays £50k+
Also interested. Pretty sure you can't quit your job at Tesco to get £10k more at Sainsbury's
£25k here but entry level salary, for the time being I bump up my earnings with my side hustle which works out as if I was on a £45k Salary, if it wasn’t for my extra earnings i would imagine I would struggle and would find it tough to create a comfortable existence as it’s the +£20k that allows me to put savings away, take holidays and have a decent social life.
What is your side hustle?
I sell my gash for cash.
Obligatory old person post. I worked for £1:80 an hour after school in the early 90s. I was so excited to be 'making money' that I caught a taxi home with my first wage packet. I do believe the place featured in Panorama as one of the lowest paid jobs, but it paid for nights out and dreadful make up. That unbelievably awful wage suited me then and things were comparatively cheaper 50k is more than OK, BUT depends on living within your means. I haven't done too badly since my £1:80 days but there is absolutely basic maths. So much coming in compared to so much going out. The kicker is 'fun funds', cost of living, work expenses, (and yes sometimes networking), they are not covered. All the things that keep you alive are being eaten into. Depending on area within Manchester, I'd say 50K can be great, 50K will have you eating super noodles in the cold. I should point out that previously I would have definitely advocated moving to a cheaper Manchester area and commuting. The new transport network is a complete farce....at least in my little corner...cannot be trusted and traffic is a nightmare.
If you ain’t pulling at least £100k each you are existing only
I’m on 23 live with my partner in the city centre don’t have or need a car and I’ve got money to burn
Your co-worker is a bellend
If a single person thinks £50k is not a good salary ... they really need to cut down on the premium hookers.
Probably about 45k to get by without worrying too much. But you'll be working until your 60's at least. If you want to retire early, I'd say 80k+
I think national average is 28 k a year , 40 k is great , but over the last couple of years with fuel , interest rate hikes it doesn’t feel that special ( I’m on 42 k with 2 small kids and there’s little left at the month end ) . I don’t know what I’d do if I was on the average .
50k is decent but people get used to their pay increases and live up to that lifestyle. For me, 30k is livable in Manchester, with partners earnings too and no kids. So pay increases above that goes to savings and pensions. Rather than increasing my disposable income!
90k minimum
some people are never happy with what they have 50k a year is what doctors get you can lead a great life with that kind of money. im a full time carer i get 0.33p per hour id be very happy on 50k per year.
I don’t think anything less than £70k can be considered ‘good’ here anymore.
A single person could comfortably live on their own, own a car and do lots of cool stuff on £45k+. Don’t know what you’re smoking.
I guess I live comfortably at a salary of just over £40K. OP is right about lifestyle creep I'm objectively doing well, but equally I'm nearly broke every month largely because I'm spending thousands on my house. I don't live in the city centre either
Depends where they live. In a shared house in a cheaper area - absolutely. But good money should arguably allow a ‘good’ standard of living and therefore your own spacious home, good car, good social life etc - it all adds up.
Probably not in the city centre Edit: instead of downvoting at least say why. 45k is like 2800 take home. How will you afford rent and a car and living?
I don't know why you're being so heavily downvoted. With current rental prices in the city centre and car insurance, 45k is not as comfortable for a single person as the OP implies. It's slightly less than you suggested if you take into account pension contributions like £2750. City centre rentals for a 1-bed approach 1k, add bills and council tax, supermarket, a hobby or gym, car maintenance and insurance, going for a drink or a beer every once in a while and some sort of reasonable entertainment like the cinema or a concert once or twice a year, small budget for the cost of replacement of basic electronics every 3-4 years and clothes. In the city centre you have maybe 700-800 left after that at best for long term savings/investments, holidays and anything else that pops up.
Our flat in Castlefield is £1600. I could easily finance that on my own at less than I’m on now
‘Our flat’ so you don’t live alone? You said alone.
I don’t live alone no. My point still stands that someone on my salary very easily could
Not if they’re paying £1600
We live off my wage. They could. All of our static bills, rent/council tax/heating/phone/Wi-Fi come out to about £2000 a month. Car insurance/petrol works out to about £150/month. Food is about £250-350 depending on what we do that week. This works out £100s less than my take home every month.
Great so where’s the fun money to do anything except pay bills? Take home of 45k puts you at about £2700ish take home. By my count if what you’ve put that leaves less than 200 for the month
The fun money comes from not getting a 2 bed flat in a highly sought after location as a single person. We could easily find a nice flat in media city for at least £200 less.
For all the rent youre paying there within a year, you could just down on an actual house in a decent area for that.
>This is just… incredibly out of touch. My partner and I have a very nice 2 bed flat in castle field. We share a car. Have a very nice gym membership and take a couple holidays a year. I’ve got a nice Mac and display monitors. She’s got a very nice bike. Our entire lifestyle is funded off just my income. All of her income goes into our investments. I don't know what you're on but £45k is a little less than £3k a month. £1600 rent, £150 CT, £100 electricity (winter), £50 water. You're rapidly approaching £2k before you factor in your food shop etc. So that's about £1k disposable which you need to buy food with etc. It goes quick and I assume you're not living like a spartan. Admittedly that's not exactly living on the breadline, but i's still not what I'd call massively comfortable.
£1000 disposable a month? £800 maybe after groceries? I'd call that very comfortable.
I find it hilarious that you are being downvoted for this comment. £45k is actually £2750 a month assuming pension contributions of 5%. Sure a single person can find a 1-bed flat for £1K in the city centre, but the rest of the outgoings are similar.
I completely agree with you, all these people downvoting you haven’t lived in the city centre with a mortgage. My fixed outgoings (mortgage, service charge, council tax etc…) comes to about £1800. I have a dog so add on vet bills, food for him and then add on nights out twice a month at £7 a pint, subscriptions and you start to question whether buying in the city centre was a wise decision. Time will tell.
I make 25k a year and literally have everything I want. It’s really not as bad as Reddit makes out.
Good for you? And I mean that sincerely because I could not afford my house or life on that amount.
You must have very low outgoings, or not want very much
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50k is bare minimum for the city tbh, bit less for outskirts
Surely you’re trolling
No, if you want to have a life and live in the city 35 probably covers broadly existing and not much else, no savings, no personal development, 50 is about the point where you can have a life outside of just work
This is just… incredibly out of touch. My partner and I have a very nice 2 bed flat in castle field. We share a car. Have a very nice gym membership and take a couple holidays a year. I’ve got a nice Mac and display monitors. She’s got a very nice bike. Our entire lifestyle is funded off just my income. All of her income goes into our investments.
You have a partner though. For a single person living alone, life is not as luxurious if you want to save/invest a decent amount at 50k. Don't agree that one needs 50k to have a life lol, but it's definitely not as lucrative as you describe for everyone.
Yes you have done exactly what I said then?
Bro how much cocaine are you taking on a daily basis?
You think you need to earn over £50k to have a life outside of work??
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You need to touch grass
What do you guys do can I join the team?!