Is $40K a year a decent salary to you?

[FathomFear]

40K is a damn good.

I'm not sure how old you are. But I think for any age bracket, that's a decent income.

 

It's all relative to what your skill, goals and ambitions are. If you're a doctor, for example, 40k would be an absolutely terrible income.

 

I currently manage a team of over 30 people. I wouldn't do it for less than 75k.

 

When I was in my early 20s I would have been thrilled with 40k though. Again, it's just relative to so many factors.

[Blue Spiral]

I don't make that much. I'm pretty sure that neither of my parents have ever made that much, either, by way of comparison.

[Alezia]

It wouldn't seem a whole lot to me personally, but I think it is fine to live on in you cut luxuries. All very relative of course to where you live and your field. If you were an admin aisstant, I would say that it was great.

[ut804]

uhh you need at least 50k around my area. I would be upset to make 40k because I have a MA degree, plus this city is so damn expensive. i always thought anything under 50k is just not good enough.

[SVSV]

1. I'm curious about what's behind the question -- Is it about whether you think it's enough for yourself, or what?

 

2. I'm surprised by the number of people who seem to think $40K is nothing, chump change. This seems like a big lack of perspective. You might make more than that and believe you'd have a hard time with less. But many people make a lot less.

 

I was fairly comfortable with $40k, and now I'm making less than half that (and not so comfortable, but I will return to the middle class).

 

Some facts:

 

* The U.S. median household income is about $50K -- and the average household is about 2.5 people.

* $40K is about the median household income for non-metro areas.

* The median income for U.S. individuals is about $27k.

 

Sources:

* link removed

* link removed, esp. p. 4-5

[hrtlsngl7]

dep where u live??? i pay 27k taxes on my house a yr...

 

40k is nice.. but its not what it used to be even 5 yrs ago...

 

look at gas prices, food prices.. inflation is running high and only gonna get worse..

 

27k in taxes? What do you have? A billion dollar home? Drive a Bentley too? I do fine w/ 50k a year. I pay 1k+ a year in taxes.

[jenna-is-here]

It all depends on where you live. If you lived in NYC, that would not get you much of a place to live. If you lived in a rural area or tier 3 city, you could probably live okay. It comes down to $19.23 an hour.

[StrawberryYogurt]

Like everyone has said, depends on age, potential salary increases in that job/field, family circumstances, student loans?, city. I'd say 40K is o.k., but you couldn't be the sole earner in the household.

 

I started out making that much 12 years ago after college, but now, I wouldn't be happy making that much unless it was a field I really loved.

[SoulSoldier]

Living in Michigan and being a young 20-something, I'd love $40,000 a year. It would be more than enough to pay off my credit card debt and would be enough over a few years to pay off the student loans, too. And I'd be able to live relatively comfortably off of it and possibly get a mortgage within a few years as houses are quite cheap here. Basically, I would be very grateful to earn that much at this point in my life.

[Ac143]

In my college years - I would be thrilled with 40K in college or right after, but after some experience out in the workforce - its pretty low & there is no way me or my hubby could ever survive with each of us making 40k. That's just me though - there's a ton of variables, age, location, job, the career you choosen all play a factor etc...

[Squiggy]

IMO 40k is pretty good, up here in canada.

[90_hour_sleep]

40k rocks!!

 

unless you want a house. at least...that's how it is where i am. basically...family income needs to be six figures to own a house and be anything other than house poor. or...you need to build yourself. but even a lot is outrageous in my neck of the woods. 40k would be a financial impossibility!