Ever Wonder About the "2 Months Salary" Guideline? Check this out.

Posted by Monica 2 Comments » (add your own)

Ever Wonder About the "2 Months Salary" Guideline? Check this out.

This may be tantamount to heresy in the jewelry industry, but I have never been a fan of De Beer’s 2 Month Salary guideline. In case you haven’t ever heard about this, De Beers, in their ever-present marketing, delicately suggest spending the equivalent of 2 months of your salary on a diamond engagement ring. When asked about this over the years, my response has been to spend what you think is appropriate for YOUR situation. No two couples and circumstances are alike. Do what you want.

So today I ran across this amazing pictorial representation of this recommendation (thanks, Woot!). This artist has taken US Dept of Labor statistics for wages, figured out 2 month’s salary amounts, then assembled images of 9 rings in that dollar range for 20 professions (each piece of art is 8 by 10 inches). Check it out:

Anesthesiologist Image of Engagement Rings, Lee Gainer

"Anesthesiologist" Engagement Ring Image, Lee Gainer

Looking at the images, I find this so fascinating. It appears that size does matter: it’s a reflection on your socio-economic status, and to some it is an indicator of how much your fiance really loves you. This is a subtle, brilliant social commentary on when marketing and relationships intersect. Thank you, Lee Gainer. Check out the artist’s equally amazing installations of “the thought that counts” and “group therapy“.

"Welder" Engagement Ring Image, Lee Gainer

What do you think of the 2 months salary “rule”? Useful guideline for engagement ring neophytes, or Evil Corporate Mandate?

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Beatrice
April 10th, 2009 at 2:51 am

I think it is horribly tacky and see nothing helpful about it! It’s a mere incitation to spend above your means if you can’t afford something flashy enough. In my opinion, more useful guidelines would be:
1) Pay attention to your fiancée’s tastes; she’s the one who has to wear it. No point in splurging on a doorknob in a frilly setting if she’s the understated type. Showing that you *know* her speaks volumes and is a much more meaningful gesture than showing how big your pocketbook is.
2) Figure out your budget and spend what is reasonable for you, in the same manner that you would for any major purchase (house, car…). What good is the big rock if you both end up miserable because you have to skimp on other things (wedding, leisure… or bills)?
3) Read up, do some research and go comparison-shopping so you understand the basics (price ranges, gem quality, metals…) and get your money’s worth.
4) Find a reputable jeweler – patronize the local stores rather than chains! Speaking from personal experience, you are much likelier to get competent, attentive and personalized service there.

Incidentally, I’d never heard of this rule before moving to the US
Monica
April 10th, 2009 at 4:34 pm

Very well said, Beatrice! Your guidelines are spot on.

Some couples may not want rings at all, and instead choose to celebrate with a memorable trip, down payment on a house, etc. Other couples might want to opt for very simple bands with no stones, or maybe beautiful colored gems instead of diamonds.

If people do choose to go with an engagement ring, it is SO important to do your homework to find the best value. I recommend doing some research online, but I agree with you that visiting reputable local jewelers will give you a better idea of what you want, and can provide service above and beyond what you will find online.

There is nothing wrong with celebrating special occassions with jewelry. Just make sure you do it from your heart, not because you feel obligated.

Thanks–Platinumgirl