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I am a software engineer and I earn £55k. It's about twice the national average. I must live an economy lifestyle to put anything aside - taking care to not he
by clnq 4y ago
I am a software engineer and I earn £55k. It's about twice the national average.
I must live an economy lifestyle to put anything aside - taking care to not heat my home too much, to never eat out, and not buy any luxuries. And on some months when I need private healthcare (as the NHS has collapsed to the point that some urgent appointments have months-long waiting lists) or dental costs, I have to dip into those savings.
I'm leaving the UK as soon as I have savings to do so. But it might take a while. I feel a lot of empathy for people earning around the national average salary. I don't know how they'll survive the Winter without using savings or going into considerable debt, especially those who have dependents. I am privileged to at least not go into debt and realistically think about leaving this country.
- origin_path 4y agoBut is that a UK thing or not? I worked for a fintech company in London and was earning on the order of £250,000/yr. We had quite a few eng who were earning between £100k-£150k. Admittedly it was a UK/US company - the founders were American and the eng team was almost all in London. But it's not like your salary says something deeply fundamental about the UK, no more than salaries in Mountain View tell you something about the whole of the US.
- clnq 4y agoThe necessity of frugal living while earning twice the national average definitely says something fundamental about a country's economy. There are many countries in Europe where earning double the average salary will make one quickly accumulate wealth. Regarding the London fintech experience, you are right, it is comparable to Mountain View. The financial industry in London is a well known exception to the rule when it comes to salaries in the UK.