# 40k pa - 29 yrs old



## eirefinq (18 Apr 2009)

Hi, just wanted peoples opinion - im 29 and earning €40k gross per annum currently, is this good money or what? i'd appreciate anyone's views - just not sure how well/not so well i am doing! thanks guys!


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## Mommah (18 Apr 2009)

Well its more than the average industrial wage which is circa €36 800 apparently. So yes you seem to be doing better than average.

However its impossible to comment without knowing your skills, industry etc. 
How long you have been in this area/career.
Have you progressed?
Is there oppourtunity for progression?
Is there job security.

More important questions (for yourself) would be what are you doing with the 40k?
Fast women and cars?
Have you got a pension?
Saving to buy a home.
Paid off your car.
Paid off any debts etc etc 
At 29 I would hope you are having a reasonable amount of fun...but still saving for the future.


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## AJC (18 Apr 2009)

Hmmm.   Did you leave school at 16?  Have you done a PhD?  Have you been bumming around on a beach until 2 weeks ago or have you been working hard for 10+ years? 

Are you in the private sector with no job security, no guaranteed pension and no rights to annual increments or pay rises, or are you in employed by the government or one of it's agencies?

The permutations make it impossible to give any sort of informed opinion imho


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## Airtight (19 Apr 2009)

If your on 40k and still in a job your doing well


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## UptheDeise (19 Apr 2009)

Also you have to take into account:

- Company pension contributions
- Company health contributions
- Share or stock option schemes available
- Bonuses received during the year
- Availability of overtime
- Other perks, like free parking, sports and social club events, subsidised canteen etc
- Comapny allowances for extending education, upskilling etc.


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## johnno09 (19 Apr 2009)

Can you afford a roof over your head, food, heating? 
Can you afford to save for the rainy days? 
How likely are you to keep your job? 

What was the point of this question? An ego trip? A little hug and a reassuring "you're doing fine sweetie"? Something to help you sleep at night? Validate your life choices thus far? I think getting to the root of your motivation for asking it would be much more useful a question.


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## Guest116 (19 Apr 2009)

Mommah said:


> Well its more than the average industrial wage which is circa €36 800 apparently. So yes you seem to be doing better than average.


 
Well, better than those earning an industrial wage that is. I dont know why people persist with comparing to the average industrial wage, it would make more sense to compare to the average wage across all industries maybe.

Better still the OP should compare against various salary surveys available online.


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## Mommah (19 Apr 2009)

Oooh deary me...Aristo and Johnny seem to have Sunday-nightitis.
I've just put the kids to bed and they have a bad dose too...first day back to school tomorrow.
Monday probably won't be as bad as ye expect guys.

Is the average industrial wage not the average wage for the country?
Irrespective of industry?

What harm in bench marking yourself every now and again.
Helps with goal setting and general self improvement, me-thinks.

Good luck tomorrow


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## Purple (19 Apr 2009)

The average industrial wage is usually the average wage of everyone outside of the agricultural sector.


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## Purple (19 Apr 2009)

OK, here's a definition and here's an old thread on the subject from AAM.


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## Guest116 (20 Apr 2009)

Purple said:


> The average industrial wage is usually the average wage of everyone outside of the agricultural sector.


 
Is it? Saw this quote on AAM from one of the links posted above...

"No, average industrial wage is the average wage of people working in industry. Does not include public sector workers or non-industrial services workers who usually earn more than average industrial. The stat is a bit of a hangover from the days when most people in the western world were employed in factories.

Generally should be seen as the average wage of someone working in a manufacturing plant"


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## Guest116 (20 Apr 2009)

Mommah said:


> Oooh deary me...Aristo and Johnny seem to have Sunday-nightitis.
> I've just put the kids to bed and they have a bad dose too...first day back to school tomorrow.
> Monday probably won't be as bad as ye expect guys.
> 
> ...


 
Don't take it personally if someone doesn't agree with you.


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## Purple (20 Apr 2009)

aristotle25 said:


> Is it?


 Yes, read the first link I posted.
The term dates back to a time when it was really only industry or farming.


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## Mommah (20 Apr 2009)

aristotle25 said:


> Don't take it personally if someone doesn't agree with you.


 
I don't. I've been with the same OH for 17 years....I'm very used to it!


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## Protocol (20 Apr 2009)

CSO earnings data:


*Industrial earnings* (series discontinued)

Jun 2007 = 627.24 pw = 32,616 pa

[broken link removed]


*Construction* (series discontinued)

Dec 2008 = 822.31 pw = 42,760 pa

[broken link removed]


*Financial* (series discontinued)

Jun 2007 = 886.34 pw = 46,090 pa

[broken link removed]


*Distribution and Business* services (series will be discontinued in 2009)

Sep 2008 = 714.34 pw = 37,094 pa

[broken link removed]


*Public sector*

Dec 2008

[broken link removed]


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## Airtight (20 Apr 2009)

Mommah said:


> I don't. I've been with the same OH for 17 years....I'm very used to it!



Whats an OH?


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## Mommah (20 Apr 2009)

OH = Other Half


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## eirefinq (20 Apr 2009)

hi all, just to get back to my original question! things seem to have got a little side tracked here.... anyways i have a defined benefit pension scheme and have been paying into that since the age of 19, I also put away 150 euro per month currently into an avc for myself, started avcs when I was 24 and have gradually built up to 150 euro per month since then. any thoughts would be appreciated... thanks again guys n please, less of the bickering amongst one another


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## Mommah (21 Apr 2009)

Sounds like you are doing great.
Saving into your pension is very important.
but at your age you also need more liquid savings for the short to medium term...such as buying a house/apt/car.
How are you working towards these goals?


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## eirefinq (21 Apr 2009)

well i owe €13k on a consolidated car/personal loan. I would love to change the car though. I had about 30k in shares in various companies which I was planning to buy a gaff with but sadly for me they are only worth a few hundred of euro now  i have no short term savings...


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## Mommah (21 Apr 2009)

Well I would drive the car into the ground...and focus on paying off the loan.
Your share port-folio might recover...hopefully, eventually!
You need to have some emergency cash funds...at least €1000 I would say...ideally 6 months cost of living, eventually.

Well done you. I wish I had been as good back in the day!


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## DangerMouse (22 Apr 2009)

If you want my opinon at 40K at 29 you are doing well. I am assuming you are degree educated and working in a non management role or you have been working since school with steady progression (work experience will match your degree in this case in my opinion). Just check your pension scheme, you mention it is defined benefit and you are paying in since 19 but you also mention you have changed jobs. Are you sure it isn't defined contribution.


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