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By age 35, what salary do you expect to earn? Poll

Reply 300

f1mad

13

Original post by Zweihander

Definitely over £500,000. Two words. Investment Banking.

Haters gon' hate, potatoes gon' potate and mirers gon' mire.

Reply 301

Llamageddon

18

Original post by py0alb

I very much doubt that. There's a general rule that says if you earn it, you will find a way of spending it. I have quite a few friends on 100k living in London or New York. Trust me: saving is not part of the lifestyle.

I wouldn't swap lifestyles for twice the money. Well... maybe twice the money.

Doesn't debt increase proportional to income? I remember reading that but I can't remember where I read it and whether it's reliable.

Reply 302

f1mad

13

Original post by Extricated

Wow, it's an internet forum, stop masturbating over fantasies that you will be an investment banker over TSR. He doesn't need to act professional on an internet forum, last time I checked TSR wasn't a corporate whorehouse.

ffs

Yes, yes it is.

Reply 303

py0alb

3

Original post by Llamageddon

Doesn't debt increase proportional to income? I remember reading that but I can't remember where I read it and whether it's reliable.

Not on a broad scale, but in certain micro labour markets possibly. Its certainly well documented that consumption rises quickly with an increase in income, but then only falls off extremely slowly with a subsequent decrease in income.

See:
http://en.wikipedia.org/wiki/Life-cycle_hypothesis

and

http://en.wikipedia.org/wiki/Permanent_income_hypothesis

for details of two theories.

Reply 304

Goku101

At 35 years old, it will be 14 years after I have graduated with a masters in Aerospace engineering (rocket science) and 11 years after a Ph.D with a chartered engineer status so that means I expect around £150,000+ plus bonuses. however, I might patent something very new and inventive and become very rich before that or perhaps even start my own company or something, therefore I will hypothetically be earning many times more than that.

Reply 305

T.Adams VI

£100k Minimum. (by todays worth)

Middle office IB, should be a senior VP by then (it's a fairly natural progression to this title).

In reality I should hit £100k by 30. Any salary increase after that is too hard to predict.

People may neg, but I am being completely realistic. Very conservative I'd say.

(edited 12 years ago)

Reply 306

Thegoodleftundone

9

By the age of 35 I fully expect to be a dictator. Everyone who voted here except me will be earning nothing.

Reply 307

oo00oo

10

Original post by Llamageddon

When it comes to unrealistic goals then this is not always true. To get to £500k would require a lot of risk taking. Being heavily in debt and nowhere near that figure a very real possibility if you chase it. Does a gambler always do better than they otherwise would when they throw all their chips down?

And why is it that you think that having ambitions of a high income means that one will take lots of uncalculated risks? When I have ambitions, I do my best to achieve them, and I know that the best way to achieve them is to approach them with lots of thought and rigour.

I won't be making any uncalculated and unsecured risks in my quest to earn this kind of money.

Frankly I find £500k to be such a high figure that it can only really be achieved by high levels of risk. IB has a very high dropout rate, starting up a business requires a lot of debt and so on.

Well you're clearly not aware of some of the things that I'm aware of when it comes to making money.

150k-200k.

Originally Posted by py0alb
Those who answered high numbers, how many hours do you expect to be doing a week.

I hate to break it to ya, but when you're on 100k, your hourly wage really won't be much better than someone in a regular job on £40-50k, because you'll be working 80 hours weeks minimum.

Responded to by

And then retire aged 40 with more than a few million in the bank...

<3 x

Lol, somenoe needs to brush up on their math.

Whilst the hourly rate observation is true thats not the worst of it, you will be worse off than a couple earning 40K each. It does not get better either as your next 12k of pay rises or bonus basically goes direct the taxman.

If you earn 112K compared to 100K then not only are you paying 40% tax on that 12K plus 1% NI , but your tax code disappears resulting in you paying a further 40% on the value of the personal allowance tax code. Your extra 12K ends up being good enough to dial in a few pizzas.

I did the calculation last year and if my salary had been split equally between my wife and I we would have been circa 1K per month, take home, better off.

Reply 310

cl_steele

2

I'll be ashamed if its under £50k ...

Reply 311

Tsunami2011

15

Original post by T.Adams VI

~~Middle office IB,~~ * back office IB

fixed

Reply 312

oo00oo

10

Original post by Llamageddon

Doesn't debt increase proportional to income? I remember reading that but I can't remember where I read it and whether it's reliable.

Only if you choose for that to be the case.

If you earn £100k and decide that you're so wealth that you're going to live in a £600k house, drive a £60k BMW X6, buy £10k suits and regularly eat out at Michelin star restaurants, then chances are you're going to be flat broke in no time and most of your expenditure will have to go on debt.

If, however, you earn £100k and decide that you're going to live in a £250k house, drive a £25k BMW 3 series, wearn £500 suits and spend the rest of your money wisely, chances are you'll have a massive surplus.

Reply 313

samcrowe

im 18 and earn £15500 just now, so if that could double i'd be happy i suppose :smile:

Reply 314

Llamageddon

18

Original post by oo00oo

And why is it that you think that having ambitions of a high income means that one will take lots of uncalculated risks? When I have ambitions, I do my best to achieve them, and I know that the best way to achieve them is to approach them with lots of thought and rigour.

I won't be making any uncalculated and unsecured risks in my quest to earn this kind of money.

Having a few scenarios where high ambitions are purely positive endeavours doesn't support a blanket statement that people will always be more successful with unrealistic ambitions than without. I said nothing about "uncalculated risks", not that having high ambitions in the least bit forces you into purely rational, calculated risks.

Reply 315

Julii92

Original post by Goku101

At 35 years old, it will be 14 years after I have graduated with a masters in Aerospace engineering (rocket science) and 11 years after a Ph.D with a chartered engineer status so that means I expect around £150,000+ plus bonuses. however, I might patent something very new and inventive and become very rich before that or perhaps even start my own company or something, therefore I will hypothetically be earning many times more than that.

Apologies if this is a stupid question, but can chartered engineers with Ph.D's really earn that sort of money after 10+ years? Is that a consequence of moving upwards into increasingly managerial positions?

Reply 316

py0alb

3

Original post by oo00oo

Only if you choose for that to be the case.

If you earn £100k and decide that you're so wealth that you're going to live in a £600k house, drive a £60k BMW X6, buy £10k suits and regularly eat out at Michelin star restaurants, then chances are you're going to be flat broke in no time and most of your expenditure will have to go on debt.

If, however, you earn £100k and decide that you're going to live in a £250k house, drive a £25k BMW 3 series, wearn £500 suits and spend the rest of your money wisely, chances are you'll have a massive surplus.

Given that you will almost certainly be living and working in central London, a £250k house isn't really a viable option.

Reply 317

Intriguing Alias

16

Depends on what career I decide to take but hopefully £70k+ by the time I'm 35 (assuming no inflation) - looking at trading, software engineering or maybe something a bit more business-orientated like consulting.

I guess if I made it as a trader (and decided I wanted to be one) it would be over £200k, perhaps over £500k depending on how good the trader is (and if they move into hedge funds). Consulting could be similar, maybe slightly less (£150k+ish). I don't know about software engineering, but starting salaries are usually between £30k and £70k (rare) but by 35-40 a lot of people are in a management position/senior developers or even opening their own software development studio.

Original post by Zweihander

Definitely over £500,000. Two words. Investment Banking.

Ouch you got a lot of negs for that!

(edited 12 years ago)

Reply 318

evening sunrise

11

Original post by oo00oo

Only if you choose for that to be the case.

If you earn £100k and decide that you're so wealth that you're going to live in a £600k house, drive a £60k BMW X6, buy £10k suits and regularly eat out at Michelin star restaurants, then chances are you're going to be flat broke in no time and most of your expenditure will have to go on debt.

If, however, you earn £100k and decide that you're going to live in a £250k house, drive a £25k BMW 3 series, wearn £500 suits and spend the rest of your money wisely, chances are you'll have a massive surplus.

The first paragraph does not come close to a 100K life style. The second paragraph is more like it, unless you decide to take your kids abroad on holiday and get them half reasonable xmas presents. In which case the annual surplus is minimal.

Mortage payments on 600K are ? 250K are ?

Reply 319

Electronica

14

Original post by Goku101

At 35 years old, it will be 14 years after I have graduated with a masters in Aerospace engineering (rocket science) and 11 years after a Ph.D with a chartered engineer status so that means I expect around £150,000+ plus bonuses. however, I might patent something very new and inventive and become very rich before that or perhaps even start my own company or something, therefore I will hypothetically be earning many times more than that.

So you've not finished (probably not started) university and are already planning your PhD. Excellent. :cool:

Someone has a very unrealistic impression of how difficult an engineering degree actually is. :rolleyes:

Also, good luck in the aerospace industry with such a poor economy. :biggrin:

Average salary for engineering graduates is around £45,000. A PhD doesn't make that much of a difference either.

At the peak of my own engineering career I expect to earn 50-75k. Which if you take into consideration inflation (4%? 4.5%?) will probably end up around 95-145k. But I expect that the poll meant pre inflation.

By age 35, what salary do you expect to earn? Poll

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