4 ms·

I live in the UK, earn less than 52k and can assure you that 70k is quite a remarkable salary to be earning. It puts you in the 94th %ile of earners. If you do

I live in the UK, earn less than 52k and can assure you that 70k is quite a remarkable salary to be earning. It puts you in the 94th %ile of earners. If you do not think that is a big deal, I do not know what to say. https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax https://www.gov.uk/government/statistics/percentile-points-f.... Edit: And my comment was actually to the claim that 70k is 'very, very low'. Which it is not. The comments section of HN occasionally reads like it is perused only by billionaires.

mytailorisrich 6y ago
That is not the point, which is, again, about the level of income where additional money no longer makes much difference. I don't dispute that 70k is a very good salary but I can tell you that 70k is far from being the level at which additional money no longer makes a difference. 70k is indeed "low" in that respect, especially with a family. An example: a good private school costs circa 16k a year. It makes a massive difference compared to your local state school. To be able to spend £16k a year cash you need to reach around this £70k income level before tax for both parents... For a single child. So IMHO, in the UK the level at which extra money no longer makes a difference to way of life or well-being is quite higher than £70k. I do agree that claiming that $70k (£52k) is not even a living wage in some western cities seems outlandish...
- tonyedgecombe 6y ago
  >An example: a good private school costs circa 16k a year. I think the argument is a good private school doesn't make much difference. I can't find it now but there was some research in the UK a few years ago that showed nearly all the superior results output from private education was determined by the input. Children starting at private schools were already ahead of their peers at state schools by a long way.
  - mytailorisrich 6y ago
    Whether these children were already ahead is beside the point. The point is that being able to afford a private school makes a big difference in what it brings to the child (education, environment, facilities, etc) and also to the potential stress and effort at the expense of quality of life it avoids (see what some people do to pass the 11+ and get into a grammar school) This is just an example to illustrate that a £50k-70k income in the UK is far from the level where additional money no longer makes much difference to well-being.
    - tonyedgecombe 6y ago
      >Whether these children were already ahead is beside the point. It's absolutely the point. You are saying a private education is essential to wellbeing and I'm saying it's irrelevant.

mytailorisrich 6y ago

That is not the point, which is, again, about the level of income where additional money no longer makes much difference. I don't dispute that 70k is a very good salary but I can tell you that 70k is far from being the level at which additional money no longer makes a difference. 70k is indeed "low" in that respect, especially with a family. An example: a good private school costs circa 16k a year. It makes a massive difference compared to your local state school. To be able to spend £16k a year cash you need to reach around this £70k income level before tax for both parents... For a single child. So IMHO, in the UK the level at which extra money no longer makes a difference to way of life or well-being is quite higher than £70k. I do agree that claiming that $70k (£52k) is not even a living wage in some western cities seems outlandish...

tonyedgecombe 6y ago
>An example: a good private school costs circa 16k a year. I think the argument is a good private school doesn't make much difference. I can't find it now but there was some research in the UK a few years ago that showed nearly all the superior results output from private education was determined by the input. Children starting at private schools were already ahead of their peers at state schools by a long way.
- mytailorisrich 6y ago
  Whether these children were already ahead is beside the point. The point is that being able to afford a private school makes a big difference in what it brings to the child (education, environment, facilities, etc) and also to the potential stress and effort at the expense of quality of life it avoids (see what some people do to pass the 11+ and get into a grammar school) This is just an example to illustrate that a £50k-70k income in the UK is far from the level where additional money no longer makes much difference to well-being.
  - tonyedgecombe 6y ago
    >Whether these children were already ahead is beside the point. It's absolutely the point. You are saying a private education is essential to wellbeing and I'm saying it's irrelevant.