View Poll Results: Are your wages increasing faster than the cost of things you buy?

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  • Hell no!

    26 68.42%
  • About the same I think

    5 13.16%
  • Actually Yes, my salary is going up faster than costs.

    7 18.42%
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Thread: Are YOUR wages passing inflation? Mine aren't!

  1. #81
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    Re: Are YOUR wages passing inflation? Mine aren't!

    Quote Originally Posted by AndyDel View Post
    My wages have been gone up far above inflation for the last 7 years but that's because i've steadily moved into larger companies and left where i was, loyalty often doesn't go rewarded i'm afraid.

    I pay roughly £1400 a month in tax / NI (Including benefit in kind tax from company car), i'm 30.
    I'm in my 40s and earn a helluva lot less than i did in my early 30s. I can't be bothered to get up at 6 in the morning to commute for over 2 hours each way for a meeting to earn a bit more. At the time it made sense - now, I'd rather have the time even if it means not having a flash car and tailored shirts. Plus I really can't be bothered with taking endless certification exams. Too stressy and time consuming - I'd rather be a midrank safe pair of hands frankly, even if I could out-flash most of the flash whizzkids. Being the guy who fixes the error at 4am and gets praise is still the guy working at 4am. I've enough savings to retrain as a sparky and get out of the IT gig if cloud kills the fun.

    I'd hate to be young now - too much debt to be paid off and no mortgages available thanks to my generation's excesses (cheers Tony and Gordon)

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    Seething Cauldron of Hatred TheAnimus's Avatar
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    Re: Are YOUR wages passing inflation? Mine aren't!

    Quote Originally Posted by scaryjim View Post
    So how do other companies in your industry manage to pay higher wages? They face the same market forces, they pay the same NI contributions, yet apparently they can afford to pay more than you can (otherwise the going rate wouldn't be higher than you can pay).
    This is a very good question, the issue is complex, and broken in to two parts. We're in a start-up phase, so we are just haemorrhaging cash. The other is that our skills overlap very much with what investment banks want and are looking to employee. In both cases they will pay NI, except for some of the latter using very complex payment schemes that are tax empt.
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    HEXUS.timelord. Zak33's Avatar
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    Re: Are YOUR wages passing inflation? Mine aren't!

    Quote Originally Posted by wasabi View Post
    I'm in my 40s and earn a helluva lot less than i did in my early 30s. I can't be bothered to get up at 6 in the morning to commute for over 2 hours each way for a meeting to earn a bit more. At the time it made sense - now, I'd rather have the time even if it means not having a flash car and tailored shirts. Plus I really can't be bothered with taking endless certification exams. Too stressy and time consuming - I'd rather be a midrank safe pair of hands frankly, even if I could out-flash most of the flash whizzkids. Being the guy who fixes the error at 4am and gets praise is still the guy working at 4am. I've enough savings to retrain as a sparky and get out of the IT gig if cloud kills the fun.

    I'd hate to be young now - too much debt to be paid off and no mortgages available thanks to my generation's excesses (cheers Tony and Gordon)
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  4. #84
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    Re: Are YOUR wages passing inflation? Mine aren't!

    in asnwer to the OP question - heck no!

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    Re: Are YOUR wages passing inflation? Mine aren't!

    Quote Originally Posted by wasabi View Post
    I'm in my 40s and earn a helluva lot less than i did in my early 30s. I can't be bothered to get up at 6 in the morning to commute for over 2 hours each way for a meeting to earn a bit more. At the time it made sense - now, I'd rather have the time even if it means not having a flash car and tailored shirts. Plus I really can't be bothered with taking endless certification exams. Too stressy and time consuming - I'd rather be a midrank safe pair of hands frankly, even if I could out-flash most of the flash whizzkids. Being the guy who fixes the error at 4am and gets praise is still the guy working at 4am. I've enough savings to retrain as a sparky and get out of the IT gig if cloud kills the fun.

    I'd hate to be young now - too much debt to be paid off and no mortgages available thanks to my generation's excesses (cheers Tony and Gordon)
    Can understand that, although the average people hit peak earnings is mid 40s.

    I think it depends entirely what you do and circumstances, I know plenty of contractors who’s day rate would make your eyes bleed but they’re saving, working towards an eventual goal of going permanent on less money but for easier life. Another chap I know worked like a dog from 20-35 taking every contract and hours god would send him and just bought property constantly, he now owns around 8 and now lives off the rental income while mincing about at home. I’m personally permanent, while the day rate for contracting appeals I prefer having a bit more security.

    As I work in Management Consultancy in the I.T industry, my sacrifice is working away 3 nights a week with hotels or long-term accommodation provided dependent on project length. It does however mean we live in one of the cheapest areas in the country (as it doesn't matter where i live), have a large 4 bedroom detached property and with working from home on Monday / Friday I likely see my family more than I would performing a long commute each day. Also, our mortgage is something like 12% of our take home pay (that’s with the wife working part time low income position).

    Definitely agree on the debt front, I feel for young people trying to make a career and live in London, it’s so disproportionate it’s insane. I’ve got colleagues and friends paying 30-45% of their family take home pay on their mortgage, at a time when rates a as low as they can ever get. Terrifying.
    Last edited by AndyDel; 01-05-2014 at 07:45 PM.

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    Re: Are YOUR wages passing inflation? Mine aren't!

    Quote Originally Posted by AndyDel View Post
    My wages have been gone up far above inflation for the last 7 years but that's because i've steadily moved into larger companies and left where i was, loyalty often doesn't go rewarded i'm afraid.

    I've meet people who do the same job at age 45, have done so at the same company for 10-15 years and are on less. This is despite the fact they're far more experienced and in allot of cases very good performers.

    If you're good enough to warrant a market rate salary from your current employer in terms of performance reviews, you're good enough to do that job elsewhere for more money and not worry about lack of safety probation period wise within the first year. Also, unless you've worked for a company 20-30 years any comfort afforded by redundancy pay in the worst case will normally be countered over time if your pay increases enough.
    Very very well said. This also sums up my situation 100% as well. I have had 4 engineering related jobs in 5 years went through redundancy when one company closed the division I was in, and did some contracting. I have finally settled at a company I hope to stay with now .

    Each move was the harder path with a new team, new responsibility and a new role to adapt to but I was ready for the challenge and accepted the risks. So whilst pay with each company rises/rose at inflation (more or less) the step ups with each company have been good to me.

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