Related Posts
Coach
Hi folks - anyone working in Ireland? Just want to check how much salary should i ask since I have received a mail saying the application will now move forward and I've cleared interview rounds. YOE 3.5 yrs Internal Audit. Is 50k a good number to live in dublin?Grant Thornton EY Deloitte kpmg
More Posts
Amex platinum vs CSR??
Thoughts on the new Chase Freedom Flex?
Pro
RKT, any thoughts?
Is this still a thing? Lol 25/F/Chicago
Additional Posts in Compensation in Consulting
Conversation Starter
Does EY pays semi-monthly or bi-weekly?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I make $92k and I have 2 kids. My wife doesn’t work, we’re very comfortable living in in the Denver area. My kids live very full and exciting lives and we can take in all that the area offers. We have everything we need and still have enough to save every month. The main point is that being comfortable is subjective, only you know what that is.
M1 it just sounds like you had some lifestyle inflation. Big mortgage for a nice house in a good school district is people's #1 priority typically at that HHI, and it's very costly.
DMV is pretty expensive but 400k should be more than enough to live comfortably, and honestly it sounds like you are living comfortably. As long as you're hitting those savings goals I wouldn't sweat it too much.
LCOL area 180k will 100% allow you to live a great life. You won't be taking extravagant vacations every year, you won't be living in a mansion, and you won't be driving the nicest cars but you'll live better than 85%+ of the country.
People in this bowl have their reference point to a good life attached to an extreme amount of materialism and are frankly extremely out of touch with the reality of your average person.
Disagree
Household income needs to be 300k
Coach
M1 agreed!
Guys he said OUTSIDE of a large city.
All these 300k+ answers are ludicrous.
300k isn’t ridiculous
I make 250 single income one child in HCOL. I feel poor. 3 kids I think over 500 at least. Even then I would feel poor
Coach
Yup. It’s never enough. A minor improvement to standard of living requires a huge adjustment in salary. 1 kid, close to 400k HHI and there are days I still certainly feel poor. We will save, save and save and then all of a sudden a house repair item or other unplanned expense will pop up and wipe out a ton.
Ultimately this comes down to what are your largest expenses:
1 Mortgage/rent
2 Auto loan
3 School loans
If the sum is less that $4,000/month, you will be good.
I'm in Raleigh, three kids, right around, 200k and am comfortable. We have a pretty low mortgage and currently no car payment, but we could do $4000 a month on those combined and still be comfortable enough and saving some too, but would be living fairly modestly
As I said, it's 2000 sqft and four bedrooms. Also will mention that today (two years after I bought it) it's worth 425k and the mortgage at current rates would probably be closer to $2700
Coach
$400k hhi.
Fine assuming your mortgage is below 500k, no other debt, no private schools, no day care, no expensive hobbies or pricey vacations, good insurance coverage, and the discipline to save and not “keep up with the Jones’s.”
Nah they not. This is 2022. Not 2012
300-400
Mentor
Assuming single income household, $180k is fine and should be comfortable, but certainly not extravagant
180k for Charlotte is good enough.
Yeah. Wxaxrly
Mentor
Is your partner working? That should also play a role in that amount.
Large city in terms COL or large in terms of land mass?
Let’s just say Charlotte not NYC…just my salary
What does comfortable mean to you?
i think the big questions on bills is does that include medical and the ability to scale up when medical bills spike or not. I think 180 can be def done if you do public schools and just make sure to save for those heavy days
$170-200K
Depends on how much debt you have, but assuming it’s manageable then that seems to be very comfortable.
Great life? No. Don’t think so. In LCOL you need $300 HHI to live comfortably.
This is entirely based on what quality of life you want for you and your family. We have 2 kids and live outside DC and our HHI is ~325k and we’re comfy. For many though that’s excessive then for others it’s not nearly enough. Again, it’s up to your desired QoL.
We make $400k HHI, 1 kid and we live in Houston suburbs (low cost of living). I can’t save more than 10% salary for 401K and 10% salary Accenture Stock Plan Purchase