My SIL and her hubby has a combined income of 70K GBP. She is always saying she can't afford this, can't afford that. 2 kids...both are at home with nanny.
Probably paying the nanny!!! Proper nannies are very well paid in the UK, especially London if they are living out!
<em>edited by Cornish Pixie on 18/03/2011</em>
Ouch..welcome to dubai then! :)
Having recently left the UK where I was born and lived for the last 34 years, I can safely say the UK is in a dire state in terms of jobs, and everything is so hideously expensive. It doesn't end with rent (we had a small 3-bed ex council house in Surrey and it was almost £1000 a month) as there is council tax, gas and electric, phone, water rates, tv licence, and don't get me started on petrol...
We struggled on a £43k household salary, so I started work again part time, which just about paid for my son's nursery while I was at work, so the maths just did not add up. We were not extravagant, ran one old banger of a car, bought second hand clothes, but we did have holidays and breaks as this was our weakness.
To have a good standard of living in the UK you need two good salaries, savings, own your own home, and have kids who are not at nursery (which costs a fortune, £1000 a month for full time).
Any questions, do ask!
Having recently left the UK where I was born and lived for the last 34 years, I can safely say the UK is in a dire state in terms of jobs, and everything is so hideously expensive. It doesn't end with rent (we had a small 3-bed ex council house in Surrey and it was almost £1000 a month) as there is council tax, gas and electric, phone, water rates, tv licence, and don't get me started on petrol...
We struggled on a £43k household salary, so I started work again part time, which just about paid for my son's nursery while I was at work, so the maths just did not add up. We were not extravagant, ran one old banger of a car, bought second hand clothes, but we did have holidays and breaks as this was our weakness.
To have a good standard of living in the UK you need two good salaries, savings, own your own home, and have kids who are not at nursery (which costs a fortune, £1000 a month for full time).
Any questions, do ask!
My SIL and her hubby has a combined income of 70K GBP. She is always saying she can't afford this, can't afford that. They own a 2 bed in Central London, so they pay mortgage. Have 2 kids...both are at home with nanny. She doesn't drink, doesn't go out much...I wonder where her money goes. Still a shocker to me. She told me recently prices have gone up and it's very difficult to SAVE.
The average salary in the UK is something like 27kGBP per year isn't it? I found this link which may or may not help. http://www.statistics.gov.uk/cci/nugget.asp?id=285
But the simple fact of whether it is enough for them to live on is dependent on where in the UK the job will be based as others have said. Price of housing will vary dramatically on location, and of course travelling costs can vary massively dependent on distance from office to home.
E.g - when I lived in London I earned almost 4 times more than my brother and yet he was always seemingly better off than me as his monetary outgoings were less than mine (mortgage / travelling), but probably in percentage terms of income and expenditure about the same as mine.
Without more info on location and whether he expects to put his children in private education, be the sole earner, run 2 cars etc it's difficult to advise any more. But it's probably fair to say that there are an awful lot of people in the UK who earn less than or equal to that and survive just fine.
But remember - petrol is a shocker in the UK! Quite the wake up call whenever I'm back there.
Hi,at that salary level his tax would be 20%, 40% kicks in after 42k with the new changes..I have only noticed that petrol is the biggest prob.food,rents are cheaper in the uk.
Using the HMRC's (the UK government's) own tax calculator, this works out after tax and National Insurance at GBP 26,074 - 34,630 per annum, or GBP 2,172 - 2,885 per month.
Personally, I think it really depends on where they want to be based, and whether they are in it to make money or just have quality of life. I can only tell you from my experience, but renting a nice 2 bed flat in London (i.e. my flat!) is GBP 1,000 per month, whereas a friend rents the same near Bristol and pays only GBP 600 per month. Working in the UK you will never be able to save what you can out here (he'll be paying 40% tax), nor will that salary afford domestic help and two cars (petrol is over 8 times more expensive than it is here)
If he's going to be working for a good UK company, then you can assume that he may also get 10-15% of his salary as pension contribution as well.
Cost of living varies wildly depending on location, so he needs to know that. For instance, some salaries include a 'London allowance' because the cost of living is significantly higher there.
It depends on where they live and whether they want to rent/buy, whether they would need/want to pay for private schooling and medical insurance.. Apparently, Scotland is idyllic :)
He's getting an offer where he could be based in any location in UK and the salary would be around £35-48k
Is it sufficient for him and his wife and 2 kids? His job require travelling extensively in the Uk and internationally but that would be paid for by the company.
How much should he ask for or is whatever they are offering enough for a family of 4?
xx