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The default assumption here that someone has £30,000 per year to put into savings seems a little bit high for most UK salaries?
by xnorswap 3y ago
The default assumption here that someone has £30,000 per year to put into savings seems a little bit high for most UK salaries?
- reedf1 3y agoI think the assumption is that you need a high salary to do FIRE generally.
- beezlebroxxxxxx 3y agoIt's definitely dependent on COL in area where you choose to retire, and what your expected spending is in retirement. Whether you decide to have children also has a pretty big impact. DINKs with a relatively modest income can still FIRE with substantial nest-eggs if their saving % is aggressive. There's also been a cultural shift around FIRE in the last 10 or so years. The original mindset was focused on pretty extreme thriftiness and a general DIY approach to lowering annual expenses to maximize saving rate. Nowadays, the focus is much more on getting the biggest number possible, and maintaining a fairly affluent and luxurious (by early FIRE standards) lifestyle into retirement. To some extent that shift was fed by the money-printer near zero bound interest rate boom years of '08 to '19, so it will be interesting to see whether it maintains that trajectory.
- intelVISA 3y agoIf that were true then the UK would have a bigger startup scene than the US? No decent SWE works for less than $200k p/a even if that means going solo (contract/entrepreneur) when facing a devalued local market
- reedf1 3y agoLondon has some of the highest dev salaries in Europe. But, you'd be lucky to get close to a US SWE salary here. Not that those jobs don't exist (I have one), but definitely the US SWE salary experience is not representative of the UK.
- AdamN 3y agoDo you work for Big Tech or finance or something else?
- xnorswap 3y agoProfile says they're a Quant, so definitely not a typical software engineer.
- varispeed 3y agoConsidering high taxes, high cost of living average dev salary in London is pretty depressing. There are exceptions of course...
- xnorswap 3y agoTypical senior software engineer salaries in the UK are around £60-90k outside of London (and you see adverts for as low as £45k!), a bit more in London / Fintech, up to around £120k. For a regular SWE, $200k (~£160k) is ludicrous for the UK market, but please feel free to offer me a job for that or point me toward the job postings that offer that. Going contract may be better, but keep in mind you spend time between jobs and chasing leads, and you're unlikely to get a stable years-long contract, especially post IR35 when HMRC will determine you to be a hidden employee (and rightfully so).
- willsmith72 3y agowhat bubble are you living in mate
- CalRobert 3y agoAmerica, presumably
- dukeyukey 3y agoNot sure I understand you? UK tech salaries are a good bit less than the US, although still on the higher side compared to the non-US Western eorld. And the UK has the biggest startup scene outside the US or China. I know a few people on ~£140k which is definitely high, but getting much past that is harder. Most mid-to-senior developers I know (in and around London) are on £65k to £120k.
- bufio 3y agolol