What Salary Puts You In The Top 10% In Ireland
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- čas přidán 8. 09. 2024
- In this video we're taking a look at what salary puts you in the top 10% of earners in Ireland. We explore the average salary in Ireland, both before and after tax, as well as data from Revenue which shows how many taxpayers are paying the higher rate of income tax. We also take a look at the salaries required for top 5%, top 1% and top 0.1% status in Ireland. Finally, we take a look at some of the characteristics of the top 10% including their occupation, gender and spending patterns.
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AIB have upped the interest rate on their deposit account from 2% to 3% as well up to €48,000 I believe.
These videos deserve wayyyy more views. Thanks a mill for the videos, I've actually watched almost all of them 🙌🔥
Glad you like them!
Great video, I left Ireland a few years ago to try out a new job in the US. At one point, before I left - I stopped looking at payslips as I was getting royally fleeced in tax every month. As well as income tax it would be interesting to benchmark how much VAT charges compared to the rest of Europe. Whatever you have left over after all the taxes gets grabbed again when you try to spend it.
Good vid 👍. The pension disparity between public v private v self-employed people would be an interesting video idea
In response to your closing comments about being better off earing less if you are happy rather than earning more and being unhappy, this does not apply to those who support a single income family. Choice is superseded by obligation and necessity.
Average pay in each Irish city, and in smaller towns, would make for an interesting breakdown. Obviously living expenses are higher in Dublin than Cork, and higher in Cork than rural locations. Higher average salaries in Dublin no doubt skew the national results.
Very well researched as usual! I found the statistic on self employed people vs. PAYE to be pretty surprising. It looks like the best way to make money in Ireland is to do contract work/ work for yourself. I'd love to know the quantity of people in the 1 and 0.1% self employed! 🤑
thanks Dan! very informative as usual :) I was expecting the average salary to be around 38k. Glad to hear it is higher.
Good video, What percentage of peoples income is paid out in hidden taxes? Vat,car tax ,house tax, fuel tax?it would be interesting to see how much is left in people’s accounts after paying all tax’s in Ireland
~70k is the top 10%
Until recently i was a full time carer and part time cleaner earning under 20k a year, and i was homeless sleeping in an abandoned factory off the N7.
Saved up enough to build a log cabin and start my own business, meanwhile a friend who earns twice as much is still struggling to make rent and spending over €200 a month on disposable vapes.
Not to put that bootstrap theory on anyone, or to talk her down at all because i recognize im very lucky to not have any addictions myselr but it really is true that your income is less important than where you put it.
Good information. Thanks for sharing.
Great to see investors outside of the U.S
My wife absolutely forbids me from talking about money to anyone she knows. This is why my mother-in-law (Dearg-due - Irish for 'beloved mother-in-law', as I call her,) refers to me as "unemployed". It does have the curious effect that none of the relatives ask me for money and they talk in whispers at a distance in case they catch some horrible disease.
The median salary this year is €46,999, it is also nice to see the minimum wage go up to €25.7k.
Usually when people ask what the average income is what they're really asking is what the median income is. Good vid.
Yes, he meant the median, which is 47k, average/mean is 55k.
This is so true! (Coming from an Irish Person). Sorry but is this a good place to ask a question?
Thanks Dan 👍.
Great channel
Your videos are great. Although you don’t answer any questions or provide feedback in your promo links. Why is that??
Great video
it would be nice to have these numbers broken down a little. Would be good to see average/median income and average/median expenditure by county and/or province.
@7:01 well, obviously that 83k has to be reduced by pension contributions and tax-efficient wrappers like the US's Roth-IRA or the UK's ISA. Unfortunately those types of schemes don't exist in Ireland.
You get 40% pension relief on the way in for contributions and assets grow tax free. Sounds very tax efficient to me 🤔
A Roth IRA doesn't reduce your income tax at all. Contributions are made post tax but the growth is tax free and withdrawals are tax free after 59.5. Irelands private pension is the same as a US 401k but the contribution limits are higher in the US and we don't have a 2 million cap.
I make 70k pre tax and feel like I haven’t a pot to piss in.
Yep. Tax is a killer
I feel you there.
and how much it became after tax?
😂😂😂😂😂😂😂
Problem woth Ireland is we're never taught to invest (always to save).. make smart investments when young
Excellent video Dan. Nice to see we have a very progressive/fair tax system (high rate of tax comes in around the median salary). Hopefully the threshold goes up to €50k as Leo has stated. Employers will be more likely to give pay rises (as it lands in the workers pocket).
Why did you choose average over median as the most appropriate benchmark?
Guys what is the everage salary for a regular person in dublin? no college degree
How would 2024 tax paid data be available considering we’re only in January
Hey Malone, amazing video, thanks a lot! I have a question, I work as a sole-trader and my income will be higher than 37500€ so I'll need to pay tax and additionally 23% of VAT. Is there any way not to pay the VAT when you cross the 37500€ earnings? I'm happy to switch to other business types.
Ireland is doesn't pay compared to California. Sanfrancisco is only 25% higher cost of living than Dublin. I make 60k in Ireland down from 300k in sanfrancisco. Same job Same exact company
Why did you use Average and not Median?
It’s far more indicative of the man on the street’s average take home pay
Malone, it's shocking. I cant talk to anyone about money, not my family, wife, friends. No one. Its shocking. I could never understand it
Question, but that higher makers increased the average income of the country, no?!How many % of the population makes the average 45k? I believe we would have a more accurate figure. I couldn’t find this date, if you could please!!
Because if you said in the minute 4:30, that 61% of people pay the standard 20% (36k max) that means that 60% makes max up until standard, not counting those that makes less.
So the number of the population that pay over 36k (higher rate) is 31% but as some would be between 36-45k, let’s say that this ‘average’ 45k would be around 20%-+.
Wouldn’t you agree?! Interesting
Meh, not a great video- using stats from 2016 isn't accurate regarding salaries whatsoever
Suimiúil!
There is no way €45,000 gross is €36,000 after tax. Taxes are way higher than that.
20% anything under €769 ,then 40% anything over €769
I just cant find a good reason to pay any tax, especially when i see how the current government soending habits ,if ur paye ur a rat in a cage sorry
Great video