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

Yes - more than adequate

Depends on how many in family, cost of rent or mortgage, travel to work costs, standard of living expectations, etc.

Yes I think perfectly adequate don't forget there are plenty of people who live in london and bring home less!

Imo and generally speaking £5k pm is just about manageable in London and the home counties, but great in the Midlands and further north.

I live in London and thats more than double my take home salary!

Y E S !!!

Yes. Even after taking out the costs you give. I think it's definitely good for one person and good enough for a family - there are lots of savings if you are at home too.

Some of my adult children think they "need" a lot more than others though. If you mix with people who buy brand new cars and holiday a lot you may see a pretty decent salary as not enough.

One of my "girls" lived in london and was a SAHM till the baby was 4. She is now working part time in a more flexible but much less well paid role. They are only little once and it passes quickly. She doesn't regret not having had the same freedoms/ treats/holidays as she did when they were on two full time salaries, and nor does her husband.

I think if they are managing to buy a house in London they are doing OK.

Good Grief Yes. Google the average salary in London before tax The Office of National Statistics say in 2023 London average salary £40,000 a year. I have lived most of my life in London. Still in London now. Not sure what disposable income Gransnet community live on but I know many London pensioners who are surviving on just the state pension.

Well,.that, split 52 weeks, is more than the government gives me to look after my mum full time, so yes, very good per month!

Absolutely!

As it is net income and even in London it seems a good income. Not necessarily a reasonable income as depends on how its earned.

Depends on what you were having to do for it and what your expenses are.

It's a massive salary, 3x average, and in the top 5% of earners.

Of course it is!

Yes

Yes - anywhere. Plenty of people in London barely scraping by oon benefits.

Now we have WFH far fewer London work-based people need to live in London.

Isn't 5,000 a month 60,000 per annum? This should be enough with care. However it depends what the rent is and how many people in the family. Families with children will have difficulties.

rosie1959 Mon 15-Jan-24 16:49:45
Around £90k per annum but depends what the job is and the going rate. Also depends on expenses mortgage rent childcare ect

Absolutely yes! That’s in the top 5% earners and I live pretty close to London.

I'm glad you worked it out as £60k per annum too EmilyHarburn and not the £80k - £90k a few posters are saying. Also the tax bracket includes the top 12% of earners, not a select 5%. High salaries in London are what attract workers, and accommodation etc will also be comparatively high.

It's over 6 million people Cossy, which equates to nearly 12%. I know because until recently DH was one in London.

Joseann

I'm glad you worked it out as £60k per annum too EmilyHarburn and not the £80k - £90k a few posters are saying. Also the tax bracket includes the top 12% of earners, not a select 5%. High salaries in London are what attract workers, and accommodation etc will also be comparatively high.

I believe the £80k - £90k earnings, not what one would take home. Vast difference. thus £60k take home pa. London is expensive.

Yes, it's a bit unclear because OP says the monthly salary is £5k not the take home?

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

It says £5,000 per month take-home, in the thread title.

V3ra

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

It says £5,000 per month take-home, in the thread title.

I was reading the actual first post, not the title.
This is a London salary by the way.
To me the word salary means before tax.

Wow!