Is GBP 42.000 a good salary to work and live in the UK?

Question

I have just gotten a job offer to work and live in England. I have no clue whether I can afford a good living and savings with GBP 42000.

Could anyone help me on that?

Answer 1

Not a bad salary in total, but don't forget that you will have to pay tax and national insurance on that, plus most places now expect you to pay into a private pension fund. As others have said, it depends entirely where in the UK you will be working as to whether or not this is a comfortable wage to exist on.

BTW...we do have a sales tax in this country...it's called VAT (value added tax) and currently it is 17.5%, although there are some items which are zero rated. The price you see advertised normally includes the VAT already.
http://www.direct.gov.uk/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/BeginnersGuideToTaxArticles/fs/en?CONTENT_ID=4015895&chk=8gHIJf

Answer 2

Depends on your job skills and the satisfaction you will derive from the job.

If you are a top surgeon or premiership footballer you may feel undervalued. However if you are a data entry clerk or a Catholic priest then you will certainly feel reasonably paid.


Perhaps the closest judgement is that you can buy a house on mortgage up to four times your net salary (i.e. after tax). My guess is that would allow you to borrow up to £150,000. This would allow you to buy a modest semi detched house in many parts of the country but not in London or the South East when you would be lucky to find even the most modest property within your price range.

Answer 3

That's a really good salary compare to most.

Me and my partner don't earn that combined!

I used to earn £10k a year, live on my own and manage all bills, rent etc and run a car and manage to save a little each month.

You will be paying the higher rate tax of 40% though but you will still have plenty. depending where you are moving you should be able to rent something quite decent for less than £400 a month.

Answer 4

If you have a wife who is not working and children who will need to attend fee paying schools in the uk and you are going to live in London and out of that salary you need to pay rent, then you will definitely NOT be living the high life. I think it also depends on what your tax situation is. We are taxed at 40%!

If you are single, your salary is tax free and you are being provided with accomodation then 42,000 pounds will enable you to live a very comfortable life here.

Answer 5

Yes, £42,000 a year is a good salary. If you have to pay tax (depending on which country you are resident) it is about £2,500 a month roughly after tax. If you live in London, you will be able to live comfortably. If you live outside London, you'll be able to save some money.

Al

Answer 6

Unless you're going to be the MD of a major company & based in London you'll be doing fine.

I, personally have never had a salary that high & most average people dont.

Contrary to what robotripper989 tells you there is no class system so you cant be in any class.

Answer 7

Really depends where the job is. If it is in the North of England, most parts of Scotland and Wales then it is a very good wage. If it is in London you will find that your money is stretched paying house rental, transport etc...

Answer 8

Yep that is a Brilliant salary. You can now afford to live in England and have a full tank of petrol in your vehicle!

Answer 9

Yes, you can afford to live comfortably and save money in most areas of England. It is way above the average wage.

any other jobs going there?

Answer 10

I would say it depends on whether its just you you have to look after on it. £42k for one person would be plenty, and would be able to live a really good life.

If you have a partner and kids to look after on it, things obviously wouldnt be so great, especially if you are living in the south of england. Altought i would say you would still be comfortable