My friend doesn't think making $80,000 salary is a lot. What do you think?

Question

Some friends tell me that once I make that, it'll be pretty much a basic income.

Answer 1

I think that it depends upon where one resides, what the nature of employment is, as well as what one's expectation of lifestyle is?  If one lives in rural Wyoming, $80,000 would be an above average salary.  It wouldn't be quite so impressive in some place like Manhattan would it?  If it is as an entry level teacher, that is well above average.  If it is as a seasoned neurosurgeon, that is below average.  If one is content to live in a one bedroom house and drive a 1988 Honda Accord, then that is certainly enough is it not?  If one has aspirations to live in a five bedroom house and own a BMW and Mercedes, as well as engage in lavish entertainment every night, then $80,000 is not likely going to provide such a lifestyle.  It is all relative to situation, location, and expectation.

Answer 2

Well 80,000 may seem like a lot look at what it dwindles down to after you pay your rent or morgage x12 months and then gas, and food and electric and heater and water and energy.and then movies and movie rentals and games and cars and clothes....hmmmm they are right it really is a basic income.

Answer 3

if you are making it household it's not a lot. but for one person it it's definently a lot of money for one person. but with todays econonmy theres only so far you can go with a certain amount of money  

Answer 4

its 4 times what I make...so Id say thats pretty well off...

Answer 5

It depends on what the job is and how much experience or what college degree you have.  For a pharmacist it's not much but for a teacher it is.  

Answer 6

I always thought that was a lot.

Recently, I got the impression lots of people are making a lot more and even laugh at the idea of a 40K salary for people just starting out.

I don' t get it! I started out lower than 40K.

I'm staring this as interesting

I like mommy07's comment: It is true, the most important thing is how you live. If you're happy, good!

& I know a couple where the guy makes $148K a year and yet they always seem to be skimping and worrying about little $ things for no reason!

Answer 7

Depends where you live. In Omaha, Nebraska it's a lot. In New York, you'll barely get by.  

Answer 8

thats a lot

Answer 9

80,000 is a great salary. there are many people who would love to make that. 100,000, which is just 20,000 more, is really something.

Answer 10

Yes, that is quite a bit of money.

Answer 11

It depends on where you live, what taxes you pay, and so on. In The US, you'd be about middle-class.

Answer 12

It's pretty good money to me,where do your friends work Wall street.Unless you got house full of kids,or your in debt up to your neck.That's lovely money to me.

Answer 13

I think your friend spends way to much and or maybe has way to much debt. $80,000 is wonderful

Answer 14

Depends on where you are, and the job that you have; Millions of people live on less than $ 20,000.00 a year. Where I live, the average rent for a HOUSE is about $ 500.00 a month !

Answer 15

Depends on your job. If your a doctor and you make that, then your not doing too good. If you work in a grocery store, then, that would be amazing. It also depends on where you live. In the northeast, its about average. In the south, that would be a lot. Also, if you are only supporting yourself, then it can seem like a great deal, married with kids, not so much.

I make around that, and honestly, I only take home about half of it, so, it might seem like a lot, but I don't see it.

Answer 16

$80,000 a year is a very respectable wage and it is in the upper middle class range. It is not a basic salary. Do your friends make more than that? Or do they just not know what they are talking about?

Sounds like they don't know what they are talking about. My husband makes approx $55,000 and I stay at home with three kids, we own a house and two cars and are not lacking. So I would say $80,000 is pretty decent. It kind of also depends on the cost of living where you live.

Answer 17

Depends on how old you are, where you live, what sort of education you have, tc.

If you're a lawyer in New York City, it's not a lot.  If you're a factory worker in Ohio, it's a lot.

Answer 18

I think I'd like to be your friend and make that kind of money....Are they NUTS

Answer 19

It all depends on what you're doing, and what you did to get to that position. If you're working the drive-thru window at Burger King then it's huge. If you're the CEO for a chain of retail stores stretching from Paris France to San Francisco California, then it may not be much. Everything is relative in finances.

Answer 20

This is a decent salary as far as careers are concerned. However, the region in which you live (i.e. cost of living, etc.), number of dependants, and income / debt ratio can make it a not so good salary ;) . It's not necessarily how much you make, but how well you manage your money! I know people who make $180k a year and are barely making ends meet! If you don't live beyond your means and /or have a lot of children, you can have a really good life on $80k a year!

Answer 21

My dad makes around 30,000 haha.

So yeah, thats really good unless you want to be a doctor or something.

Answer 22

Just like all other comments, it really depends on where you live. I live in NYC and 80g is not that much $ in NYC. After taxes come in, its basically 40-50g cash. You cannot buy a house on a 80g salary.

Then it comes to lifestyle which location plays a role with it, I know some of my friends who are only 22-23 making over 100g in Wall Street, but they go out EVERY NIGHT POSSIBLE! 10$ for drinks here and there, 50$ on dinner, 10$ on lunch, they barely have enough to save! They just spend on anything because they are so busy working, so its they pay a premium  on anything for the convenience. For example, say your thirsty in Midtown or Lower Manhattan, it costs about $2 for a soda in some places, $2-3 for a hot dog? So from my experience, growing up in NYC 80g is average, or basically middle class.

Answer 23

I think your friend should try welfare, then he'd see that 80K is a whole lot indeed.