What is considered a high wage?

[billybob99]

I know a lot of people that say they earn good money and high wages, but then they continue to tell me the pre-work that goes into getting to work to earn that money.

Someone earns 60k a year, but has to wake up at 5am, Monday to Friday, get ready, wait for the bus to the train station. Jump on the tube for about 1.5 hours for an 8am start.

Finish work at 6pm, get home just before 8pm.

From this, I would calculate this as a 13 hour shift, when working out the hourly rate, its not that much, and this is even before working out income tax etc.

Someone earns 80k a year but has to drive 2.5 hours to work and another 2.5 hours back, Monday to Friday, 9am to 5pm.

This would be similar, a 14 hour shift.

If time is money, should one start the timer from when one gets up, to work out the true money you're earning.

 

[Deleted member 59730]

If time is money, should one start the timer from when one gets up, to work out the true money you're earning.

If you think like that a job will not make you happy.

The deciding point for me becoming a photographer was when I read a book about David Lean making a film. It was describing a night scene. It dawned on me that there were people so happy and fulfilled in their work that they didn't mind working all night. I decided then that I would aim to never work regular hours. I've never regretted the decision.

I've experienced dawns all over the world while tourists are still tucked up in bed. At sunsets I've had some of the most iconic views all to myself.

 

[arnydnxluk]

If time is money, should one start the timer from when one gets up, to work out the true money you're earning.

Definitely.

I have always worked from home and it's only recently that I actually stopped to think how much time is spent by people commuting.

For example if you commute 1 hour each way, and there are 253 working days per year, that's 506 hours spent commuting - over 21 days (or 31 days if you factor in sleep).

Roll on self-driving cars and more remote positions.

 

[Mr D]

Depends on the job. £20 an hour would be a high rate of pay for a cleaner. For a City broker I'd expect it would be low.

There are people who do want to travel so much for their job rather than move or find a room to rent close to the job.

 

[Jeff FV]

The numbers are fairly easy to crunch.

Based on your example above, £60k pa, 13 hours a day, working 47 weeks a year (so five weeks annual leave) equates to an hourly rate of £20.

In the second example, £80k pa, 14 hours a day is roughy £24 per hour.

The problem is that most people will not live close by those jobs that pay £60 or £80k pa and so will need to commute.

An interesting post & thought experiment.

 

[UKSBD]

It also depend on how much time you actually work.
In my case I probably spend a good 10 hours a day on the PC but 9 1/2 of those are me just playing, visiting forums, experimenting, etc.

I used to have a full time job and do what I do now in evenings.
I could still do that now, but choose not to as I like just loafing around all day

 

[billybob99]

The numbers are fairly easy to crunch.

Based on your example above, £60k pa, 13 hours a day, working 47 weeks a year (so five weeks annual leave) equates to an hourly rate of £20.

In the second example, £80k pa, 14 hours a day is roughy £24 per hour.

The problem is that most people will not live close by those jobs that pay £60 or £80k pa and so will need to commute.

An interesting post & thought experiment.

Yes definitely worth a thought.

I've always thought of it like this and also in terms of how much of the £60k do I get after tax etc.

A lot of people that earn £60k act as if they actually earn £60k a year net, when they don't.

 

[billybob99]

It also depend on how much time you actually work.
In my case I probably spend a good 10 hours a day on the PC but 9 1/2 of those are me just playing, visiting forums, experimenting, etc.

I used to have a full time job and do what I do now in evenings.
I could still do that now, but choose not to as I like just loafing around all day

This sounds a lot like me.

Pretty much spent last week looking at desktops and cars.

This coming week looks the same.

 

[UKSBD]

I have to go and approve directory listings in the mornings and evening which wastes 30 minutes off my day in which I could be watching cat videos :-(

 

[STDFR33]

It only works if you value your time the exact same as the time spent at work.

Some people would rather work and earn more money. Others value their time out of work more than their time at work.

It’s not an exact science.

 

[dotcomdude]

For me, a high wage was when I was saving £500 a week - after paying all of my housing/living costs etc.

 

[Alan]

The government considers any one earning over £46,351 a 'high wage', regardless of whether they commute 5 hours a day or not, and they consider anyone earning over £150,000 as a 'very high wage'.

 

[billybob99]

The government considers any one earning over £46,351 a 'high wage', regardless of whether they commute 5 hours a day or not, and they consider anyone earning over £150,000 as a 'very high wage'.

True. Then again the government considers a lot of things

 

[Mr D]

For me, a high wage was when I was saving £500 a week - after paying all of my housing/living costs etc.

Yes, some could consider that a high wage then.
There are people who have never got £500 gross a week in their life.

 

[Mr D]

The government considers any one earning over £46,351 a 'high wage', regardless of whether they commute 5 hours a day or not, and they consider anyone earning over £150,000 as a 'very high wage'.

Sadly some of the media and some social commentators consider high income individuals to be wealthy.
Income and wealth not being the same thing.

 

[estwig]

Time is the only thing of any true value, more money can always be earned, once spent you can't get time back.

I've never had a job, I don't have a CV and have never been on a job interview, or been paid simply for my time. For me there isn't work and leisure time, there are just some things in my life I prefer doing to others. I get on with the stuff I need to do, to then be able to enjoy the things I like doing.

 

[JEREMY HAWKE]

I would join the foreign Legion if I had to give somebody else 14 hours a day

At least you know where you stand in the Legion and they cook your dinner

 

[Annoying Donkey]

At least you know where you stand in the Legion and they cook your dinner

Unless you're the cook...

 

[Financial-Modeller]

The answer is that a high wage means different things to different people.

When working for multiple clients in different sectors its possible to be the high-paid guy in one team and the low-paid guy in another.

Another consideration to @billybob99 post is the cost of getting to work. Many of those commuting by train will be spending 10% of their gross income on their travelcard. A colleague was mortified recently to realise that he needs to earn GBP25k per annum to just get to work.

 

[Higgsy]

I personally feel wealth is being able to afford to live the lifestyle you enjoy.

 

[Haindiary]

All that will be above average earnings in the region or specialization.

 

[HFE Signs]

Someone once said to me 'you can only measure wealth by the fewness of you wants', I was a young man at the time and I thought 'what a nutter', as I've grown more experienced I fully appreciate what he was saying. In essence you will always cut your cloth accordingly, thus putting yourself under more and more pressure. Sometimes being content with a happy medium is the best way.

 

[billybob99]

Someone once said to me 'you can only measure wealth by the fewness of you wants', I was a young man at the time and I thought 'what a nutter', as I've grown more experienced I fully appreciate what he was saying. In essence you will always cut your cloth accordingly, thus putting yourself under more and more pressure. Sometimes being content with a happy medium is the best way.

This is spot on.