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Salary for Business Placement-£36,000?!

athena2050

Ive got a friend at Bath, doing Business Admin, and he has been told that in his 6 month placement he can expect to be paid from 16-36 grand. This just seems a bit unfair on all the people with degrees working for say, PWC, where the yearly wage is nowhere near 36 grand for first yr qualified accountants - can anyone confirm this??x

Reply 1

Alchemy

Depends lagrely on your first year grades along with the company you work with.

Reply 2

Multiplexed

Not bad i say. But the 16-36 would usually mean that he starts on 16ish which is quite low. :frown:

Reply 3

athena2050

Really? I am completely not in the loop on any of this. so it is poss to get 16 thou for six months of work? Wow. Im in the wrong degree obviously x

Reply 4

Multiplexed

athena2050

Really? I am completely not in the loop on any of this. so it is poss to get 16 thou for six months of work? Wow. Im in the wrong degree obviously x

I don't really think it would be 16, i was just exaggerating. Bath's Business Admin is an excellent degree, he's probably hitting the mid-25's as a rough guess.

Reply 5

Busta

It is true. I've spoken with the Management School and they have at students do placements and earn 35k

Reply 6

President_Ben

NB: IB start salary is 35.

Reply 7

Stan Hibbert

Is that 35k a per annum salary so they will only get 18k because they are working there for 6 months? Surely they are not going to get 35k for 6 months work. that would be equivilant to 70k a year salary.

Reply 8

becs_in_bath

As I'm a BBA student at Bath and currently on my second placement, thought it was only fair I commented on this and stopped you all becoming too deluded.

1. On your first placement, salaries are usually around £12 - 15K - that's for a year, so in the six months you can expect to earn between £6-7.5K (don't forget you'll be taxed though!) I worked for BMW and earned a straight £1K per month.

2. Yes, the salaries for second placements are usually higher than the first ones, but it largely depends on what you want to do. A lot people end up trying to get into the big financial institutions in London (Deutsche Bank, Citigroup etc). There is a lot of competition for these places, and only around 5 students are offered placements with them - this year infact DB didn't take anyone. These are the only firms which pay as highly as the OP said (I believe it is actually £32K so you would earn 16K). You also have to sign your life away for 6 months if you're working for these firmsand be prepared to work all night, so the pay per hour you receive probably works out about the same as other placements!! Most other firms pay second placement students somewhere around £15-17K annual salary. Where I am, I'm getting £7.5K for the six months, but it wasnt about the money for me - I wanted to stay in Bath and this was one of the only placements available here, plus I dont want to work in anything to do with finance so the big-payers didn't interest me anyway.

So, if you're all hoping to have £30K in the bank after your placements, think again! And I'd advise you all not to apply to placements just because of the salaries, it's the experience you're really there for, the pay is just a bonus.