Depends where you live, OP, but I would be dancing a jig.
It depends on what job you are doing and where you live.
For any flyover state, it's a great salary.
Yes, very good.
Depends on where you live and how old you are.
I was I was making $80k.
OP, It's not just how much money you make. It's how much you make minus how much you spend.
OP, they don't pay gays $80,000 for serving food.
Yes, it's practically twice my own.
R1. Yes, $80,000 is a good salary--even if you live in NYC, SF or LA.
You may not become wealthy, but yes, you can live a decent, comfortable life on $80,000 in those cities especially if you live alone or have a partner. Of course, if you have a family, you may need more income.
Seriously, how can you live on $80,000 / year???
It's only a bad salary if you're a soulless, date rapist New Yorker.
Please. My pensions are more than that.
I live in LA and I would be insanely happy to make that much.
Of course R7 is technically right, but also, what you have to give to get that $80k also matters.
$80k for a job that was moderately challenging, enjoyable, with rich professional relationships, stability and advancement, work/life balance? Hell yeah.
$80k for a soul-sucking, high-stress job, too many hours each week, lack of professional respect, doing work that does nothing good for humanity, feeling bitter and exhausted all the time, working with backstabbers, my shit on the line at all times? Not a chance. I'd need quite a bit more for that, though really, I'd position myself in a different job with less pay but greater invisible rewards like the ones above, because life is short and I Deserve To Enjoy It.
Most New Yorkers and Angelenos do not make more than $80,000. Those who do are a rarified few. All of the "glamour" jobs like media, entertainment, fashion and publishing pay a pittance salary unless you're the actual owner of the company.
The only well paying positions left in the city is if you work in finance, big law or medicine. Everything else is solidly middle class incomes, if that.
If you don't believe me take a look at most of the mid-level incomes for most of the jobs in New York. I'm not even talking entry-level...I literally mean MID-LEVEL incomes that hover around the $45,000 mark and barely budge and inch northwards.
I am newly retired but it is 3 times the most I made in any year from a job. Will admit to living in poverty at times.
It's a great salary, but it doesn't go that far if you live in a city like NYC, LA, SF, or DC.
A lot depends on whether you have more than one income in your household. I am retired from a good government job; my final salary was around $140,000. But I always lived alone, so just my income. I live in the L.A. suburbs, but definitely could not afford to live (well) in a nicer part of town, even on that salary. My pension is over $100K, and I still couldn't afford to live near the beach or in a nice area on the west side.
The average American household income is like $40K a year. And thats a household, they are factoring the income of two people to arrive at that number. So, yes, $80K is good.
For me, yes. For my cousin whose last job paid him 600k, no....
It's a great salary. I would love to have it.
I wouldn't try to live in Manhattan with it, though.
I made 50 and got a new job at 80. Its less work but deal with assholes all day. It is worth it though bc i put half that pay increase into 401k. Only get a 1% annual increase. With insurance, 401k, extra taken out for federal ( so i get a good refund) vacation and xmas club contribution equal 2k in may and oct. i take home 1985. Bi weekly.
R22, what did your cousin do?
R20 is delusional spoiled queen. I live in LA by the beach and I make about 50,000. If you are talking a big house in Malibu right on the water then no.
But if you are talking an average 1 bedroom condo or apartment in Santa Monica or the West Side its totally doable.
80,000 would be more comfortable and I dont know anyone making 100,000 who could not find a nice place anywhere in LA.
Do you have a family you support, OP? Are you married and have two incomes?
Pfffft, my horse lives on more.
Far more than mine, and I live in LA
OP here. I live in a mid-size city on the east coast. I am 42. I'm single. Thank you for your input. I really appreciate it.
R28 I have a 3BR/2BA townhome in the San Gabriel Valley. It is almost paid for. Purchased in 1987. While I could certainly afford to live in a 1BR apt. in Santa Monica, I stopped living like that when I was in my 20s.
And I'm hardly "spoiled." I am quite thrifty and have a nice nest egg.
R33, the OP was asking if 80,000 was a good salary.....not, could I have a 3 bedroom house totally paid for by the beach and live the lifestyle I have grown accustom.
You would be hard pressed to live in San Francisco or Honolulu on 80k.
Not true r35. You could live comfortably well on 80K. Maybe not for a family of 4, but certainly a single person can.
R,27. He was a VP at an international bank.
You can easily live in LA on 80K a year. NY or SF? I don't know, but I bet you could live there just fine too.
I have never broken 50K in my salary and 80K would be some kind of dream come true. That's a great, fantastic salary - especially for someone like myself who has nearly no expenses (no kids either).
I'm in in the job market right now and seeing salaries range from 35K to 60k in my field. (mid-experienced managerial)
Wrong R35, you could rent a nice place in San Francisco for about 2 -3,000. The dot com boom is over.
Have a looksee:
I see a lot of people in LA and NYC and I guess they could be trust fund brats or get a supplement from their parents, but I don't know. There seems to be a lot of retail workers licing just fine in New York and LA. Yeah, they may have three roommates in a 5th floor walkup, but they are surviving.
If you live in DC, you qualify follow income housing at 68k so 80k you might scrape by....but need to 100ks to really live comfortably...
BS R41. Prove it. Low income housing usually means you have to own less then 3,000 total in physical assets, including a car.
If I made $80k a year, I'd be able to put sixty of it in the bank or a 401k or something. I'm so used to cutting coupons, thrift stores and going without, I wouldn't know what to do with it.
I think 80k is amazing and would love a salary that high. You can definitely live in NY, LA, SF on that. It is definitely way above average.
But I realise that people have different expectations and different spending habits, so it *is* pretty relative and I wouldn't want to work a shitty job for that either.
My salary is a few dollars short of 80K. I work in DC and live in MD. It's a contractor position so I get zero benefits. Am I poor? No. But I don't feel like I'm doing particularly well since it's DC and 80K is nothing special here. Add that to having student loans and zero benefits at age 39.
I am also aware I'm doing a lot better than many others (and that I was out of work for 6 months last year) so I try to keep the whinging to a minimum.
18 000 people applied for unemployment benefits last week, so, yea, I'd say that's a good salary, OP.
to add to the echo chamber, 80k is shit in any big city. christ, my partner and I gross 300k a year together and we still cant afford to buy 90% of the condos they are building in Williamsburg, Brooklyn where we live.
its fucking pathetic.
[quote]I wouldn't try to live in Manhattan with it, though.
I live alone in a fairly large 2-bedroom apartment in Harlem and only make $66,600 as a legal secretary. Definitely not living high and mighty but do okay for myself. Guess it all depends on how many bills you have and if you're good at managing expenses.
[quote]its fucking pathetic.
Oh, dear. 300k a year and such poor grammar.
You could barely survive on $80,000 in the Bay Area. Sad truth.
Bullshit, R51. I know several who do. Depends on where, obviously. SF would be tricky on $50k, but doable.
It depends how you manage it - I make 85K I put 15% into my 401k with match pre tax and another 10% into the ESPP post tax. My salary is low for my skill set and I could go to another company and make 100K plus bonus but...I get 4 weeks vacation, I work from home 3-4 days a week, I can work the hours I want to no one is watching me clock in or out as long as the work gets done.
As much as I put away for retirement and savings - my actual take home is closer to what someone making 50 k would be getting...I own my own condo with mortgage, bills etc I manage to keep about 12K in my emergency fund. I drive a 2012 european sedan, have nice clothes nice things..I travel, going to vegas in a week as a matter of fact and flying first class...so yeah you can live pretty well.
You could live in Manhattan but you would have to live like a normal person...cooking your own food most nights instead of going out to a restaurant every night. Waiting for holiday sales to buy clothes and making clothes last instead of buying full asking price and shopping every single weekend for something new. You will also probably have to live with a boy/girlfriend, friend or roommate if you wanted to live in a trendy neighborhood.
The problem is, no one who comes to NYC wants to live a normal life anymore. Everyone has this Sex and the City fantasy and it's killing the 40 and younger generation. Credit is not income. You cannot live on credit and still be standing. It will come back to haunt you eventually.
I always wondered how so-and-so was able to live like a socialite until I realized that everyone was living off their credit cards or that Mommy and Daddy were pitching in even though the people were well into their thirties. Sad, sad, sad that people are so materialistic that they can't face reality.
I make $110 and live in NYC, but barely get by. I had to cut my 401k contribution in half last year in order generate more net income. Living in NYC, there are so many cultural events, art exhibits, etc to attend and new restaurants to sample, that these things tend to devour my paycheck. Sometimes I wish I wasn't an urban sophisticate, since I'd be able to save more. It's a trade-off, I suppose.
I echo what an above poster said - if you live alone, it's a lot different.
I often wonder how different my life would be if I had someone else living with me that made the same amount.
I make around 110K. I know I have it pretty good - but I don't live extravagantly.
I make close to 90k in LA and I live alone. I'm doing alright.
Yes, it's a good salary. Most people are way below that level, or they are unemployed.
I live in Denver, and could live on 80k, but not well. I eat out 5 nights a week. My gym membership is $300 a month. Mortgage is $5k a month. Car payment of $600 a month. I spend $7k a year on travel, because Denver is boring. I wouldn't die on $80,000 a year, but I don't know if I would be happy.
[quote] I live in Denver, and could live on 80k, but not well. I eat out 5 nights a week.
Learn to cook.
[quote] My gym membership is $300 a month
Find a cheaper gym
Depends on what you are doing and for which company. Are they going to suck you dry, or will you have a work to home life balance?
I am planning on living on $4K a month for my retirement, in San Francisco. People spend and live way beyond their means, and you can live cheaply if you have your finances under control.
[quote]I often wonder how different my life would be if I had someone else living with me that made the same amount.
My friend is ALWAYS pushing me to get a roommate because he insists everything would be so much better for me financially -- i.e., I could save more, spend more, etc. But as I keep telling him, (1) I've never had a roommate and don't want one because I just prefer living alone and (2) after all of the bad -- no, make that nightmare -- roommates he's gone through to get to the good one he finally has now (an older lady who works as a nanny), I'd rather just keep on going like I'm going, thank you very much.
But he is right about one thing: he's always had roommates and he has saved a helluva lot of money over the years, being able to afford many things I can't even though he makes a lot less money than I do (he loves fashion and labels and paid $2,000 for his Burberry coat this past winter). But still I know I'm happier the way I am.
r59 your mortgage is 5000 a month?? You are not living on 80K a year with that!
Well, I don't know people, [R52], I am people. I live here, and in my experience it's a stretch to properly live (not simply exist on the bare minimum) under six figures.
R59 here. I could obviously live on 80k a year, but I like my lifestyle. I could downsize my home, eat at home, and work out at a cheap gym. I could also drive a less expensive car. I would not say that a 'good salary' of 80k a would buy these things. I guess it is all a matter of perspective. To some people, living well is having a roof over their head, food on the table, a decent car, and being debt free.
What services do you get at your gym?
My Jim is 300 a month but he has a 12" cock.
"To some people, living well is having a roof over their head, food on the table, a decent car, and being debt free." I totally agree. With no pensions and social security being put further and further out, people have to anticipate how they are going to live after 55.
Your lifestyle sounds extravagant, R59. $300 for a gym? Barbaric.
Is San Francisco really as expensive as some of you claim? That's terrifying.
SF isn't that expensive. We just have some spendthrifts in this thread.
I make $100K but it doesn't mean anything. I spend everything I make, and then some. I have no savings except for a severely anemic 401(k). I've never owned real estate, except with a BF who gave me half, and I don't know why...somehow I think everything's going to work out fine. I have what you might call a fool's optimism.
Your gym must suck. Mine is $500/month.
I live in Phoenix for 12,000 a year and I have my own place. Really, I do. I was just never one to spend money I guess.
"I make $100K... I spend everything I make, and then some."
How on Earth...?
R63, please re-read R58's first sentence ... he said he COULD live on $80K, not that he IS.
R74 is that annoying Kristin Wiig character from Saturday Night Live....OKaaaaaaY?
r1 That myth won't die. The median income in Manhattan in 2012 was $65,000. So yes $80,000 is more than enough to get buy in ANY US city unless one goes the more expensive neighborhoods within them.
LOL, you can't live on $80,000 in SF, NYC, or LA. Unless you were living on the street, LOL! Maybe that's why there are so many homeless there.
r16 is dead on.
It's more than I make.
The question makes no sense. $80K for a software developer in Bumfucke, Kansas, or 80k for a sanitation worker in Manhattan? Is $80K a good salary for an attorney? A school teacher? A waitress?
What R78 Said. You can live anywhere in America for 80,000 a year including LA, NY and SF. Just not in the wealthy areas of those cities.
Medium income in Los Angeles is 56,000 per household. That means all the income from everyone in the house combined. I think the US average per person is closer to 35,000.
r79, you can live on 80K in Manhattan. Cheap apartment (under 1700), no car, don't go partying every night...definitely doable.
$80K is about what I will make this year all totaled and I live in a Manhattan co-op. It's enough to cover my expenses, including paying off CC debt accrued in over the last few years, but barely.
The most I've earned on salary was $125K - that was before W's crash.
[bold]Do you think $80,000 per year is a good salary?[/bold]
[quote] LOL, you can't live on $80,000 in SF, NYC, or LA. Unless you were living on the street, LOL!
I live in LA on $57k a year. And for years I lived on far less than that here. But my house is paid off and thanks to Prop 13 my property taxes are low.
Yes, it's a good salary. I make about that and live comfortably in Manhattan. I go out a lot, take cabs and dine out occasionally. My tastes are not expensive, though. If you require theater tickets, go clubbing and dine out a lot, it will be hard. If you have a car to park, forget it.
$2,000 for a Burberry coat? That's one you don't want to forget on the train!
I thought gay men tended to have higher paying jobs?
I live on $10,500 a year. So, yes, $80,000 per year is a good salary.
stuck in my city
Living in Manhattan, since so many of you seem interested, is so much about rent. If you live in a rent stabilized apartment which you can easily afford, then yes, 80k is alright. Before the downturn in the economy, I was making in the 90k range and it felt good. Now, I can only hope for 70k/year. But, my rent is still cheap and I have money in the bank.
What do you do, r90? That isn't even minimum wage.
The starting wage for first-year lawyers at good firms is $160K. Plus bonuses. $80K is roughly the median wage for second-tier law school grads with jobs in midsize to large cities, most of whom are 25-26 when they graduate. So, no, I don't consider it a good salary. Hell, even my schoolteacher aunt makes close to that, thanks to seniority and her teachers' union.
Are you talking about $ 80.000 gross or net? If its net pay, it's nice for a single person in NYC !
$80k is a good salary no matter where you are. It sounds like some of you spend WAY too much fucking money. $300 per month on a gym? Why? Do you have a personal trainer? And if so, WHY? You can get a more than decent gym for $100 a month or even less. Or just run outside for free.
Also, I don't get this obsession with brand spankin' new cars. Get a fucking used Honda Civic, Nissan Altima, or Toyota Corolla. They're relatively cheap, built to last and you won't lose money the minute you drive it off the lot. I don't care how much money I had, I could never spend more than $300 a month on a car payment. More than that just feels wrong.
Yes, if you live in Sri Lanka.
I live in St. Louis, and $80,000 would be ok.
I just retired, and have about $80,000/yr to live on now, with Social Security, pensions, and draw-down of 401k/IRAs. I don't have payroll taxes now, so I actually net more than when I was working.
I live fairly well for St. Louis (condo, Audi A4, etc). So far this year, I have vacationed in New York, Chicago, Las Vegas, and will be spending 9 days in San Francisco and 10 days in China in October and November. I know I am not rich, but still feel like I have what I need to enjoy life.
At the same time, I doubt I could live as well if I moved to New york or San Francisco.
I can't even believe this was a serious question. $80k is plenty.
I live in New York and made a maximum of about $25k before taxes for the past nine years. Before that, even less. I've had at least two roommates at all times here. Though I didn't always live in New York.
I recently started a second job, and I've basically doubled my monthly income (about $2800 after taxes), and it's made a huge difference. I can actually pay my bills (I've even started to think about paying off my student loans) and move forward with many of my life's dreams for once.
Those of you who question whether it's possible to even live on *double* what I'm making now... what is your fucking problem?
You can live in SF on 80k a year but almost half of that will be on rent unless you want to live in the Tenderloin (ghetto).
With a roommate or partner, 80k in SF is fine. Outside of the city itself, it will get you even further.
I have a feeling that everyone griping about living in a big city on 80k eats out constantly and can't be bothered to budget.
Or maybe they just don't want a roommate or don't have a partner, R100?
I can't speak to NY but in LA you can have a one bedroom comfortably on 80k. In SF you'd be spending half of your net income each month on rent for a one bedroom, you may do a better with a studio. You can certainly do fine if on 80k if you live outside of SF proper (Daly City, the Peninsula, East Bay). It's doable.
Daly City, lol!
I can't afford to live in NYC and I make more than 80K. So I live in an apt in the suburbs and stay with a friend in NYC on weekends to go do things. It's the only way I can enjoy going to restaurants, plays, vacations, etc, all the things people do to enjoy themselves. Even still, I sometimes coast into payday on fumes.