5 ms·

This has caused a bit of a stir because the UK hasn't quite understood the relative weakness of wage growth for the last 10 years. The culturally understood mil

by reedf1 4y ago

This has caused a bit of a stir because the UK hasn't quite understood the relative weakness of wage growth for the last 10 years. The culturally understood milestones of "high pay" 30/50k have also not increased with inflation. I get paid well for the UK - but I could triple or even quadruple my salary in the US/Australia. Combined with relatively high taxes (my marginal tax rate is 60%) - it isn't a great value proposition for many professionals, and despite the luxuries (healthcare, gun control) - almost everyone I know is eyeing the exit.

ZephyrBlu 4y ago
You think you would triple or quadruple your comp in Aus? The US I get, but Aus seems to be about the same as the UK. Also, how is your marginal tax rate 60%? I'm guessing you mean 40%. https://www.gov.uk/income-tax-rates https://www.gov.uk/income-tax-rates
- csomar 4y ago
  He is either adding vat or social security.
- ubercow13 4y ago
  Personal allowance tapers after 100k, making the effective marginal rate 60% between 100-125k. If you include student loan payments too, it's actually more like 69%! There are other even more extreme marginal rates hidden in the tax system if you have children, I believe there are even some circumstances of >100%
  - curiousguy 4y ago
    You can easily put money in your pension and avoid the tax. So if you’re making 125k and put 25k in your pension, you will only pay taxes on 100k. Take advantage of tax wrappers and UK tax is kind of okay when comparing with other countries.
    - ubercow13 4y ago
      Absolutely. The 60% marginal rate will still kick in somewhere though, with the recent increase in annual pension allowance I guess it would be 160-185k, which would actually make it 65% as it'd be on top of the additional rate.
  - Aeolun 4y ago
    Between 100k and 125k, but your average/effective tax rate is still around 40%.
- dukeyukey 4y ago
  Looking at levels.fyi, London pays developers more than anywhere outside the US and Switzerland.
makingstuffs 4y ago
The worst thing about it all is our healthcare is barely even a benefit anymore. You’d be more likely to find a leprechaun than get an appointment with a doctor and don’t get me started on dentistry.
- InCityDreams 4y ago
  To where are you referring?
  - ClumsyPilot 4y ago
    Uk - Britain is ceaselessly proud of it's NHS, and 10 years ago it was fine. I wiuld call in as a student complaining about a running nose and would get an appointment withing a day or two. In the past few years it fell off a cliff. Recently I called in about a serious infection and got told there are no appointment left this month. At all. It was the 2nd of March. Thr only way to get treatlent is to go to the accidents and emergency department of a hospital and to sit for 6 hours in a queue.
    - iamben 4y ago
      Where are you based? I'm in central London and - whilst I agree it has been and could be better - have had no problem getting an appointment. Most of it is app based now, right? I'll message in the morning or the night before, a doctor will video call within 48 hours (usually, but often same day) and will ask me to come in if I need to. Otherwise they'll just prescribe after the call and send the prescription to my local pharmacy.
      - ClumsyPilot 4y ago
        There is functional GP left in London? How about in-person appointments? I am in East London, Newham, with Doctor IQ app, thats been my experience so far
        iamben 4y ago
AmericanChopper 4y ago
Your last two posts are this exact comment.
SXX 4y ago
Healthcare is free in UK of course and this is hug compared to US situation, but I do have a few older friends who moved to EU simply because there are countries with as good healthcare and much less waiting.
dukeyukey 4y ago
I don't think that's the case - looking at levels.fyi, London pays more than anywhere outside the US and Switzerland. Definitely more than Australia, despite a lower cost of living.
meghan_rain 4y ago
Exit to where?

by reedf1 4y ago

ZephyrBlu 4y ago

You think you would triple or quadruple your comp in Aus? The US I get, but Aus seems to be about the same as the UK. Also, how is your marginal tax rate 60%? I'm guessing you mean 40%. https://www.gov.uk/income-tax-rates https://www.gov.uk/income-tax-rates

csomar 4y ago
He is either adding vat or social security.
ubercow13 4y ago
Personal allowance tapers after 100k, making the effective marginal rate 60% between 100-125k. If you include student loan payments too, it's actually more like 69%! There are other even more extreme marginal rates hidden in the tax system if you have children, I believe there are even some circumstances of >100%
- curiousguy 4y ago
  You can easily put money in your pension and avoid the tax. So if you’re making 125k and put 25k in your pension, you will only pay taxes on 100k. Take advantage of tax wrappers and UK tax is kind of okay when comparing with other countries.
  - ubercow13 4y ago
    Absolutely. The 60% marginal rate will still kick in somewhere though, with the recent increase in annual pension allowance I guess it would be 160-185k, which would actually make it 65% as it'd be on top of the additional rate.
- Aeolun 4y ago
  Between 100k and 125k, but your average/effective tax rate is still around 40%.
dukeyukey 4y ago
Looking at levels.fyi, London pays developers more than anywhere outside the US and Switzerland.

makingstuffs 4y ago

The worst thing about it all is our healthcare is barely even a benefit anymore. You’d be more likely to find a leprechaun than get an appointment with a doctor and don’t get me started on dentistry.

InCityDreams 4y ago
To where are you referring?
- ClumsyPilot 4y ago
  Uk - Britain is ceaselessly proud of it's NHS, and 10 years ago it was fine. I wiuld call in as a student complaining about a running nose and would get an appointment withing a day or two. In the past few years it fell off a cliff. Recently I called in about a serious infection and got told there are no appointment left this month. At all. It was the 2nd of March. Thr only way to get treatlent is to go to the accidents and emergency department of a hospital and to sit for 6 hours in a queue.
  - iamben 4y ago
    Where are you based? I'm in central London and - whilst I agree it has been and could be better - have had no problem getting an appointment. Most of it is app based now, right? I'll message in the morning or the night before, a doctor will video call within 48 hours (usually, but often same day) and will ask me to come in if I need to. Otherwise they'll just prescribe after the call and send the prescription to my local pharmacy.
    - ClumsyPilot 4y ago
      There is functional GP left in London? How about in-person appointments? I am in East London, Newham, with Doctor IQ app, thats been my experience so far
      - iamben 4y ago

AmericanChopper 4y ago

Your last two posts are this exact comment.

SXX 4y ago

Healthcare is free in UK of course and this is hug compared to US situation, but I do have a few older friends who moved to EU simply because there are countries with as good healthcare and much less waiting.

dukeyukey 4y ago

I don't think that's the case - looking at levels.fyi, London pays more than anywhere outside the US and Switzerland. Definitely more than Australia, despite a lower cost of living.

meghan_rain 4y ago

Exit to where?