Do you expect to earn more than your parents?

Poll

Do you think you will earn more than your parents?

In real terms? A lot is made about this generation going to be poorer than their parents, so do you think that that applies to you?

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Reply 1

Tahooper

I bloody hope so, otherwise I will have wasted my time trying hard in school :dry:

Reply 2

moregano

At the moment I earn more on my own than the combined income of both my parents while I was growing up (and I don't earn a lot :p:

).

I don't expect to ever be on a really high salary because I'm more motivated by work I really enjoy than stressful work which pays well, and I'd find it difficult to sacrifice a decent life outside work for a high salary.

But I certainly don't expect to ever be worse off than my parents, and at the moment me and my boyfriend feel very well off even though by most people's standards we're probably not. I think our generation have silly expectations when it comes to wealth - a lot of people my age seem to have no idea at all how privileged they've been in terms of wealth and lifestyle, even compared to others in the UK. They seem to think that owning a nice house and a car or two, enjoying holidays to France and new clothes every month is the norm, and are completely unaware of the fact that there are children in this country who have never left their home town and only just manage to get enough to eat thanks to their free meal at school. Depressing really :moon:

Reply 3

ProStacker

It isn't just about earning - it is about expenditure as well. If food, petrol, cars, insurance, houses etc cost more, earning more than your parents won't automatically make you better off.

Reply 4

standreams

I earn more than either of my parents did at my age, and in some ways I am superficially more wealthy than they were as the price of luxury items has gone down compared to the 1970s. For example, my mum definitely didn't have enough money to run a car at my age, and neither parent could dream of long-haul travels or the same frequency of weekend trips and short breaks to Europe which I take. I eat out far more regularly, and spend more money on leisure activities (sport mostly).

On the other hand, my dad got a mortgage and bought a nice house in the suburbs aged 19. At 26, and despite earning more than the average UK salary, it's only this year that I can begin thinking about putting a foot on the property ladder (and even then, it definitely won't be a 3 bedroom house in a nice suburb, and I will have to become a live-in landlord to pay the mortgage). Both my parents had 'jobs for life' (although they did move into other careers) and didn't need university or even A levels to get decent managerial careers.

I would say life is more comfortable for me than it was for them, but also more unstable, and it takes longer to get 'established.' I'm sure different people will have different experiences though.

Reply 5

Toaster Leavings

Original post by standreams

Yeah I can relate to this, it's exactly the same for me except that I'm 26 and do earn about the average UK salary.

Reply 6

skunky x

My Dad earns a hell of a lot, so I don't think I will ever beat him - especially not with my degree. It would be nice, but I also think, that I don't have a realistic idea of what I need. My Dad earns 6 figures and I don't think we live a lifestyle that reflects that. As a result I think I believe you need more to live than you do.

I hope I beat my Mum's salary - but hey, only in first year of uni. Who knows what could happen...

Reply 7

philistine

If I didn't, I'd probably be better off looking for the going price of a cardboard box, rather than a two bedroom flat in the city centre.

Reply 8

xoxAngel_Kxox

I expect to earn more than my Mum, who's a nurse, but probably not my Dad.

EDIT: I should have added that I already have my job lined up so know what my wage is going to be, so I'm not just guessing.

Reply 9

Lamptastic

I technically take home more than my Mum and Dad separately but not combined. Then again I don't have kids or any of those kinds of bills. Also neither of my parents have GCSES/O Levels as they both dropped out of school young for various reasons.

I do hope I earn more, because that was why they encouraged me to stay in school. I grew up poor and they dont want me to stay poor.

(edited 12 years ago)

Reply 10

thompsonic7

My mum, yes. My dad, no.

I want to be a teacher so I know I'll probably be around the 25k mark.
My mum works in a nursery school 4 days a week on £6 an hour.
My dad has a 6 figure salary.

Reply 11

KJane

Hope so, otherwise they'll tell me I wasted my time at University since they wanted me to get a job in the first place, but my Dad doesn't work and my mum earns 24k, so if I can manage to work my way up the ladder when I get a job then yeah.

Reply 12

Tateco

Original post by geetar

In real terms? A lot is made about this generation going to be poorer than their parents, so do you think that that applies to you?

The title of this thread and the question you are asking is not the same; how much we earn isn't necessarily consistent with how wealthy (poor/rich) we will be since this is a relative measure.

Reply 13

Frodo Baggins

My dad earns about 70K and my mum is a housewife. My mum was one of the senior managers at MARS (chocolate etc) and could have earned so much. I hope to be an investment banker and so i should earn more.

Reply 14

Pride

I'm not specifically aiming to earn more than my parents, I just know that the career I'm aiming for means that eventually, I will.

Reply 15

jennifer.tariah

Well seeing as my dad has a PhD in Medicine and Psychiatry ad earns a hefty 6-digit salary.. I might earn more when i am Very enhanced at what i'll do but in the next 20 years.. probably not..

& My mum earns around 35k + being a sole trader 20-40k per year.. maybe..

Reply 16

Hanshen

Sadly, as much as I tell myself I may do, I know that I will never earn even a fraction of my Parent's incomes. It was actually quite disheartening at first, that I will never be as 'successful' as my father; who rates success monitarily. I do however, know that my career will leave me intellectually stimulated and fulfilled, which personally matters more to me than a fortune. In some ways I see it as a bourgeoisie luxury, I have the privilege to chose a a low paying job that will give me satisfaction, whereas others could only dream of some of the opportunities I have had. Nevertheless, I don't think I need a lot of money, I was fortunate enough to come from a wealthy family and never really cared for lavish goods and excessive consumerism. Therefore, in conclusion, I will never earn as much as my parents, but I don't feel I necessarily would want to if I could regardless.

Reply 17

Sprockette

Probably not. Definitely not if I'm considering they earn in Ireland where wages are higher (though that might change with the country as it is now!). My Mum works in the bank, not management but a good average. She joined when the bank had great prospects/good pay/pension for people not going to uni. I'm jealous of her pension - 2/3 of her final salary non-contributory! My Dad worked as a guidance counsellor in a school, he retired last year. I'm not sure what they actually earn but I think it was pretty nice. Not huge but comfortable. Very comfortable if you consider they had no mortgage no pay!

I don't expect to earn what they do. I didn't choose my career for the money and scientists not in research don't earn huge amounts! If I even get into the career I want... Who knows where I'll end up.

My parents are constantly saying how awful the wages over here are, it really annoys me!? I haven't managed to get a 'real job' yet after uni and my Mum is constantly on about how my friend can't survive on her wages - she got the job she wanted straight out of uni and started on £30k... That is beyond frustrating to hear about and my Mum keeps on and on about it :frown:

Reply 18

username782284

no, I want a career somewhere in the music industry, and that's not exactly money-heavy for the most part.

My parents aren't loaded or anything, but I'm not expecting to make anything like what they do.

Reply 19

Spontogical

Potentially I could earn more than my parents combined. It just depends on how far I take my work forward. I'm not particularly bothered either way, as long as I have the essentials; then nothing else really matters.