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

Yes, that is the real question Dizzyribs

Are they aspiring to a lifestyle beyond their income or just finding it difficult to live within their means for some reason?

Absolutely yes!

The question is “is it a good salary? “ not “is it enough?”
Those saying it is inadequate- I wonder why we’re in the position that someone earning this much- twice the pay of say teachers or nurses- is not able to live really well. What has society become that you have to earn more than average, more than employers can or will pay, just to afford to live.

Definitely, yes

Just looked it up, a new teacher in London earns £34,500. So that's 2.6 teachers.

No it isn’t. There isn’t a single salary for all levels of train drivers, in all the regions of the UK. The most experienced drivers in the highest paid region - London - earn a little below £60k (c£3500 a month net) not over £90k pa.

£5000 a month? Hmm, isn’t that what train drivers are paid? And they re holding us to ransom for more ! Just saying.

Yes it's a good income, unfortunately most people are in the 20-30k annually.

Yes.

I would say that even at London prices £5000 a month is ample. It's a case of looking at your income and expenditure to see where you can save. CAP Money is a charity who can help with this.

Yes, a lot
more than I've ever earned!!

I feel for younger people these days, two salaries are essential to afford a family but then family life is not as we knew it ( most of us at grandparent age ) .
The next generation is going to be worse yet.

Considering that teachers, nurses, other professions plus those in less well-paid jobs still manage to live and work in London, then yes, I'd say that £5,000 take home pay is comfortable.

It is all dependent on the price of housing, both rents and mortgages which can be extortionate in some areas.

I'm in London, as is my daughter. She's a single parent earning around £60k gross including bonus and did struggle with nursery fees but now both her children are at school she can cope. She owns her own place without a mortgage which obviously does make a difference.
I think that whether £5000 a month in hand is enough will depend on how ambititious you have been in your choice of property and size of mortgage.
I have friends with children earning that much and more. Some have huge houses in expensive areas with large mortgages and they do a lot of moaning about how tough it is. Others have smaller, less fancy houses in less expensive areas and live happier lives.

Yes. You need to earn a lot pre-tax to take that much home.

Wow!

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.

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

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

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

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.

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

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

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.