Do you consider £5000pm take home pay a good salary?

It’s my daughter’s salary ( well her husbands, she’s a stay at home mum ) & she said to be comfortable they need about 6500 a month. Plenty of her friends are on about £8000 pm but they both work full time.
Her mortgage is £1700pm. If she was paying for childcare that would be another £1500pm.
I personally think 5k a month is a great salary - but apparently not.

Bloody fantastic (to me)!

It depends on your outgoings vq, as everywhere.

Absolutely,

Surely the question was " do you consider £5000 a good salary" the person's outgoings should not be considered just the fairness or otherwise of the salary. I would consider the responsibilities of the role etc.

Kandinsky

It’s my daughter’s salary ( well her husbands, she’s a stay at home mum ) & she said to be comfortable they need about 6500 a month. Plenty of her friends are on about £8000 pm but they both work full time.
Her mortgage is £1700pm. If she was paying for childcare that would be another £1500pm.
I personally think 5k a month is a great salary - but apparently not.

I think 5k a month take home could be fine in rural Suffolk, no mortgage, childcare - but as she tells you, in London, not comfortable.

well it's far more than 95% of the population have to manage to live on, comfortable or not.

The vast majority of people have to keep their outgoings to significantly less than £5000 a month. I'm sure most people could increase their outgoings to that amount if they had it, but the fact remains that most don't.

To some YES to others NO, all depends on the actual outgoing expenses.

I would advise her to get a job if it’s not enough for her!

Dh worked in oil industry so my perception is probably a bit skewed. A project manager earns upward of £140.000 pa. Some of the family are senior teachers/depute heads (secondary) and their salary is over £72000 pa. 5k pm is not an unreasonable figure but very much depends on where in the country you live and associated costs.

I agree with you £5000 net a month is great. Especially for one person. My dd and her dh both work in difficult and stressful public sector jobs, but bring home much less but with an even higher mortgage. London borders.
Maybe instead of looking up at their £8000 pm net friends it might help if they appreciate they are a lot more comfortable than most.
Lucky them.

Is it the salary of a London MP?

It sounds good but of course it depends on so many factors. One of the biggest is housing. The average house price in London is over £700,00, in Liverpool it is around £200.00.
Living mid country I notice general prices can be quite different south (higher) and north (lower).

It would even be a good salary in Bristol which is very close to London prices. For example £5.00 for a bag of chips from the chippy and £7.00 for a pint of beer, £10.00 for a glass of wine. Rents are around £1,600 for a studio flat (basically a bedsit) if you can find one!

I'm a Londoner and both my kids earn less than that but they think they're on good money. They both earn around £60k per annum. One is married and his wife also works, the other is still single. They're opinion is your Daughter doesn't know how well off she is and needs to give her head a wobble.

Kandinsky

It’s my daughter’s salary ( well her husbands, she’s a stay at home mum ) & she said to be comfortable they need about 6500 a month. Plenty of her friends are on about £8000 pm but they both work full time.
Her mortgage is £1700pm. If she was paying for childcare that would be another £1500pm.
I personally think 5k a month is a great salary - but apparently not.

The problem with going back to work when the children are young enough to need care is that nurseries are very expensive, working itself involves costs eg travel, business clothes and many other general expenses and juggling work with childcare can be very stressful.

Unless your DD is worried about missing out on promotions etc then staying at home for just a few years, if they can afford it, is probably a good idea. Or both psrents try to work flexible hours.

I know some posters will censure me for saying that. 🙂

Ignore those who boast about their high salaries. It's vulgar to talk about religion and money!

flappergirl

It would even be a good salary in Bristol which is very close to London prices. For example £5.00 for a bag of chips from the chippy and £7.00 for a pint of beer, £10.00 for a glass of wine. Rents are around £1,600 for a studio flat (basically a bedsit) if you can find one!

That's why they're all moving over to Wales!

Callistemon21

Kandinsky

It’s my daughter’s salary ( well her husbands, she’s a stay at home mum ) & she said to be comfortable they need about 6500 a month. Plenty of her friends are on about £8000 pm but they both work full time.
Her mortgage is £1700pm. If she was paying for childcare that would be another £1500pm.
I personally think 5k a month is a great salary - but apparently not.

The problem with going back to work when the children are young enough to need care is that nurseries are very expensive, working itself involves costs eg travel, business clothes and many other general expenses and juggling work with childcare can be very stressful.

Unless your DD is worried about missing out on promotions etc then staying at home for just a few years, if they can afford it, is probably a good idea. Or both psrents try to work flexible hours.

I know some posters will censure me for saying that. 🙂

Ignore those who boast about their high salaries. It's vulgar to talk about religion and money!

No censure here.

As a sahm/person I quite agree.

I wanted to raise our children, not send them out to care, not pay for work expenses, and surprise, our children felt the same.

High salaries are just high salaries, no basis for family happiness.

We lived in London when our children were small and it certainly wasn't comfortable. We managed, just about, like many young families

Those who are living a comfortable life in London whilst bringing up a young family are, like, very lucky indeed!
Perhaps expectations are higher now.

like? That was supposed to be imo

That’s a huge salary so yes. My kids work in London in very good jobs and they’d be over the moon to earn that much. The median UK salary is around £35k including in areas that aren’t far off or equivalent to London prices. With respect I think people really need a reality check if they think £100,000pa isn’t a massive salary.

I think your daughter needs some different friends if she's feeling out of her comfort zone, however much income they have each month 🤔

It’s a good wage, definitely. But the couple are feeling the pinch because it’s stretching to cover a SAHM. A tight budget but down to choices. Perhaps mum could do a couple of evenings work in a bar/call centre or a Saturday morning to boost the family income? If not then it is what it is - for the time being as sacrifices have to be made in the short term.

Goodness yes