Education
Ive never really understood the big push on education and the mindset that most people have which is education Is everything.I used to go to a private school up to sixth form and then in sixth form I went to a normal Sixth form. In this new public sixth form everyone seemed to see education as their ticket to freedom whilst in my private school everyone sort of seemed to understand that education will never really make u rich unless you base a business of it. One key thing I realised is that at my sixth form most people have no entrepreneurial mindset and are so fixated on grades which is actually a shame giving that some of these people are literally some of the brightest people you will meet. They seem to have this understanding that they’ll go to uni get a job and life will all be good. Then when I tell them about the realities of life and how you’ll probably end up earning a maximum of 150K a year which isn’t much after tax( only like 7.5K a month), and the likelihood of that is very small so you will probably get a job paying like 65K which is probably like 3.5K a month. On 3.5K a month nowadays you have to buy a house which in London now your monthly payments for a rubbish house will be over 2.5K then you have 1K to live off and pay bills which really is not a lot.
Then most of these individuals go to universities to do degrees like PPE and psychology which is basically wasting all their potential as they will realistically not be going into well paid professions and so at the end of all of that struggle and hassle of getting the top grades they will not be rewarded. In fact a child who probably just about passed GCSEs and did an accounting qualification will probably be earning more than them . When I tell them this they seem so shocked and begin to question their decisions. But surely this is common sense and understanding that when you get older you will have to pay bills and you should have some sort of financial literacy. I was wondering if any of you guys who go to public school have lessons on financial literacy?
At private school we never had lessons on it but everyone seemed to understand the nature of finances.
I would also like to put this up to encourage people to go into entrepreneurship even if it is a alongside a job because growing up now is harder than ever and your expenses will be sky high so don’t be shocked when your older.
I understand that I say this from a privileged position in that I don’t actually have to work but my point still stands.
I feel like this is why so many working class individuals stay poor as they are lied to their whole lives by the education system when in reality they will never be free whilst having a low paying job.Then most of these people get uni loans to cover costs and will end up paying back like 3 times more in the long run, all for a 60K job.
Any thoughts?
Then most of these individuals go to universities to do degrees like PPE and psychology which is basically wasting all their potential as they will realistically not be going into well paid professions and so at the end of all of that struggle and hassle of getting the top grades they will not be rewarded. In fact a child who probably just about passed GCSEs and did an accounting qualification will probably be earning more than them . When I tell them this they seem so shocked and begin to question their decisions. But surely this is common sense and understanding that when you get older you will have to pay bills and you should have some sort of financial literacy. I was wondering if any of you guys who go to public school have lessons on financial literacy?
At private school we never had lessons on it but everyone seemed to understand the nature of finances.
I would also like to put this up to encourage people to go into entrepreneurship even if it is a alongside a job because growing up now is harder than ever and your expenses will be sky high so don’t be shocked when your older.
I understand that I say this from a privileged position in that I don’t actually have to work but my point still stands.
I feel like this is why so many working class individuals stay poor as they are lied to their whole lives by the education system when in reality they will never be free whilst having a low paying job.Then most of these people get uni loans to cover costs and will end up paying back like 3 times more in the long run, all for a 60K job.
Any thoughts?
Original post by LBJ887598654899
Ive never really understood the big push on education and the mindset that most people have which is education Is everything.I used to go to a private school up to sixth form and then in sixth form I went to a normal Sixth form. In this new public sixth form everyone seemed to see education as their ticket to freedom whilst in my private school everyone sort of seemed to understand that education will never really make u rich unless you base a business of it. One key thing I realised is that at my sixth form most people have no entrepreneurial mindset and are so fixated on grades which is actually a shame giving that some of these people are literally some of the brightest people you will meet. They seem to have this understanding that they’ll go to uni get a job and life will all be good. Then when I tell them about the realities of life and how you’ll probably end up earning a maximum of 150K a year which isn’t much after tax( only like 7.5K a month), and the likelihood of that is very small so you will probably get a job paying like 65K which is probably like 3.5K a month. On 3.5K a month nowadays you have to buy a house which in London now your monthly payments for a rubbish house will be over 2.5K then you have 1K to live off and pay bills which really is not a lot.
Then most of these individuals go to universities to do degrees like PPE and psychology which is basically wasting all their potential as they will realistically not be going into well paid professions and so at the end of all of that struggle and hassle of getting the top grades they will not be rewarded. In fact a child who probably just about passed GCSEs and did an accounting qualification will probably be earning more than them . When I tell them this they seem so shocked and begin to question their decisions. But surely this is common sense and understanding that when you get older you will have to pay bills and you should have some sort of financial literacy. I was wondering if any of you guys who go to public school have lessons on financial literacy?
At private school we never had lessons on it but everyone seemed to understand the nature of finances.
I would also like to put this up to encourage people to go into entrepreneurship even if it is a alongside a job because growing up now is harder than ever and your expenses will be sky high so don’t be shocked when your older.
I understand that I say this from a privileged position in that I don’t actually have to work but my point still stands.
I feel like this is why so many working class individuals stay poor as they are lied to their whole lives by the education system when in reality they will never be free whilst having a low paying job.Then most of these people get uni loans to cover costs and will end up paying back like 3 times more in the long run, all for a 60K job.
Any thoughts?
Then most of these individuals go to universities to do degrees like PPE and psychology which is basically wasting all their potential as they will realistically not be going into well paid professions and so at the end of all of that struggle and hassle of getting the top grades they will not be rewarded. In fact a child who probably just about passed GCSEs and did an accounting qualification will probably be earning more than them . When I tell them this they seem so shocked and begin to question their decisions. But surely this is common sense and understanding that when you get older you will have to pay bills and you should have some sort of financial literacy. I was wondering if any of you guys who go to public school have lessons on financial literacy?
At private school we never had lessons on it but everyone seemed to understand the nature of finances.
I would also like to put this up to encourage people to go into entrepreneurship even if it is a alongside a job because growing up now is harder than ever and your expenses will be sky high so don’t be shocked when your older.
I understand that I say this from a privileged position in that I don’t actually have to work but my point still stands.
I feel like this is why so many working class individuals stay poor as they are lied to their whole lives by the education system when in reality they will never be free whilst having a low paying job.Then most of these people get uni loans to cover costs and will end up paying back like 3 times more in the long run, all for a 60K job.
Any thoughts?
there's a lot to unpack here!
i think you're underestimating how rich these people want to be - i don't think they mean billionaires or even millionaires - for most people, a job paying 150K is a dream, and you'll most likely be paid that amount once you've worked at a company for a while: you'll have to start on low salaries, even lower than the 65K you mentioned. but to get those jobs, usually the london city ones, you basically have to have gone to a top university, definitely russel group and even better if oxbridge or another top top ranking one, because the jobs are so competitive. so these students are so focused on getting really good grades so that they can get onto these top graduate schemes/jobs etc, which is a completely reasonable career path.
your idea that to get really rich you have to be an entrepreneur is fair, because that's one of the only ways that you'll be able to make multiple millions, but i think your perception of what 'rich' is is slightly warped - i'm assuming that you come from a wealthy family since you went to private school ( i may be wrong!), but most working class people (again, i'm not sure if the students around you that you're referring to are indeed working class) literally dream of those city jobs and for them its the 'easiest' path to success - which for them, is that 150K a year which is huge amounts for them, although it might not be for you. i know that i was raised in a working class immigrant family who pushed me towards education because its the easiest route to getting those amazing jobs (which for you might not seem so amazing). starting up a business/being an entrepreneur is also not easy - it usually requires some sort of investment which most people realistically get from family members/parents - your idea seems to be that people should stop focusing on grades and instead, if they want to be rich, should become entrepreneurs, but this is a really upper class mindset because most people simply cannot afford to/don't have the financial safety to be able to gamble their life earnings starting a business. so yeah, one of those city jobs that 'only' pay around 150k a year is the easiest way to get rich to some people - and that is very rich, although not to you - most people in the uk earn around 39k.
also, degrees like PPE are extremely useful! many banks/top jobs look for and love degrees in PPE, especially from top universities like oxbridge/warwick etc. most people doing PPE at a top uni will get into a top job.
degrees like pyschology are less sought after, but usually people follow psychology because they want to be a psychologist or go into human resources - therefore, their degrees are useful to them although they might not seem like it to you.
again, your last comment that many working class people stay 'poor' because they end up getting jobs that only pay 60k, respectfully again shows me how priveleged your world-view is. most people in the UK would dream of making 60K, although it might not seem a lot to you. 60K is 20 grand higher than the national average.
i'm not sure if i'm interpreting your post wrong, but you seem to believe that your mindset of being entrepreneurial is obviously superior to these 'working class students' who are for some reason chasing grades. i just really encourage you to try to understand how privileged you are and how much money 150k is to most people.
Education isn’t just about making money though. A good education can help you navigate through life generally and will give you a much better understanding of how your society works. You’ll find its a lot harder negotiating with lawyers, financiers etc and generally getting things done without an education.
On the economic side of things, I’m not sure how old you are but I’m a definitely older than you and can tell you that what you’ve said is a typical misconception found among many students , namely unrealistic expectations. You think £60 k is a low salary? Go out in the world and try and achieve it, you'll soon see how hard that is
Nobody is going to make the kind of sums that you’re talking about. Only 5% of the population make £85k + so if you are making £65k that is very good indeed, let alone £150k (again, extremely unlikely that anyone is going to do that)
And as for entrepreneurship, two problems with that - 1) not everyone has the aptitude for it and 2) competition and I mean competition from very well-funded organisations. Again, stats show that most (90%) of businesses fail during the first year.
Where I agree with you is that economic practicality and striking a balance between study of its own sake is often lacking in the educational system but be real - a salary of £60K is very good. If anyone is making that, they really shouldn't complain
And education still does generate a better salary than lack of it so economically it still does make sense even if loans as you've correctly suggested have impacted it somewhat
Finally if that salary still isn't enough to buy a house in London, then that's a problem with the way our economy is run and society generally; an individual is not likely to be able to solve that through their own efforts
On the economic side of things, I’m not sure how old you are but I’m a definitely older than you and can tell you that what you’ve said is a typical misconception found among many students , namely unrealistic expectations. You think £60 k is a low salary? Go out in the world and try and achieve it, you'll soon see how hard that is
Nobody is going to make the kind of sums that you’re talking about. Only 5% of the population make £85k + so if you are making £65k that is very good indeed, let alone £150k (again, extremely unlikely that anyone is going to do that)
And as for entrepreneurship, two problems with that - 1) not everyone has the aptitude for it and 2) competition and I mean competition from very well-funded organisations. Again, stats show that most (90%) of businesses fail during the first year.
Where I agree with you is that economic practicality and striking a balance between study of its own sake is often lacking in the educational system but be real - a salary of £60K is very good. If anyone is making that, they really shouldn't complain
And education still does generate a better salary than lack of it so economically it still does make sense even if loans as you've correctly suggested have impacted it somewhat
Finally if that salary still isn't enough to buy a house in London, then that's a problem with the way our economy is run and society generally; an individual is not likely to be able to solve that through their own efforts
(edited 10 months ago)
Original post by pkchan
there's a lot to unpack here!
i think you're underestimating how rich these people want to be - i don't think they mean billionaires or even millionaires - for most people, a job paying 150K is a dream, and you'll most likely be paid that amount once you've worked at a company for a while: you'll have to start on low salaries, even lower than the 65K you mentioned. but to get those jobs, usually the london city ones, you basically have to have gone to a top university, definitely russel group and even better if oxbridge or another top top ranking one, because the jobs are so competitive. so these students are so focused on getting really good grades so that they can get onto these top graduate schemes/jobs etc, which is a completely reasonable career path.
your idea that to get really rich you have to be an entrepreneur is fair, because that's one of the only ways that you'll be able to make multiple millions, but i think your perception of what 'rich' is is slightly warped - i'm assuming that you come from a wealthy family since you went to private school ( i may be wrong!), but most working class people (again, i'm not sure if the students around you that you're referring to are indeed working class) literally dream of those city jobs and for them its the 'easiest' path to success - which for them, is that 150K a year which is huge amounts for them, although it might not be for you. i know that i was raised in a working class immigrant family who pushed me towards education because its the easiest route to getting those amazing jobs (which for you might not seem so amazing). starting up a business/being an entrepreneur is also not easy - it usually requires some sort of investment which most people realistically get from family members/parents - your idea seems to be that people should stop focusing on grades and instead, if they want to be rich, should become entrepreneurs, but this is a really upper class mindset because most people simply cannot afford to/don't have the financial safety to be able to gamble their life earnings starting a business. so yeah, one of those city jobs that 'only' pay around 150k a year is the easiest way to get rich to some people - and that is very rich, although not to you - most people in the uk earn around 39k.
also, degrees like PPE are extremely useful! many banks/top jobs look for and love degrees in PPE, especially from top universities like oxbridge/warwick etc. most people doing PPE at a top uni will get into a top job.
degrees like pyschology are less sought after, but usually people follow psychology because they want to be a psychologist or go into human resources - therefore, their degrees are useful to them although they might not seem like it to you.
again, your last comment that many working class people stay 'poor' because they end up getting jobs that only pay 60k, respectfully again shows me how priveleged your world-view is. most people in the UK would dream of making 60K, although it might not seem a lot to you. 60K is 20 grand higher than the national average.
i'm not sure if i'm interpreting your post wrong, but you seem to believe that your mindset of being entrepreneurial is obviously superior to these 'working class students' who are for some reason chasing grades. i just really encourage you to try to understand how privileged you are and how much money 150k is to most people.
i think you're underestimating how rich these people want to be - i don't think they mean billionaires or even millionaires - for most people, a job paying 150K is a dream, and you'll most likely be paid that amount once you've worked at a company for a while: you'll have to start on low salaries, even lower than the 65K you mentioned. but to get those jobs, usually the london city ones, you basically have to have gone to a top university, definitely russel group and even better if oxbridge or another top top ranking one, because the jobs are so competitive. so these students are so focused on getting really good grades so that they can get onto these top graduate schemes/jobs etc, which is a completely reasonable career path.
your idea that to get really rich you have to be an entrepreneur is fair, because that's one of the only ways that you'll be able to make multiple millions, but i think your perception of what 'rich' is is slightly warped - i'm assuming that you come from a wealthy family since you went to private school ( i may be wrong!), but most working class people (again, i'm not sure if the students around you that you're referring to are indeed working class) literally dream of those city jobs and for them its the 'easiest' path to success - which for them, is that 150K a year which is huge amounts for them, although it might not be for you. i know that i was raised in a working class immigrant family who pushed me towards education because its the easiest route to getting those amazing jobs (which for you might not seem so amazing). starting up a business/being an entrepreneur is also not easy - it usually requires some sort of investment which most people realistically get from family members/parents - your idea seems to be that people should stop focusing on grades and instead, if they want to be rich, should become entrepreneurs, but this is a really upper class mindset because most people simply cannot afford to/don't have the financial safety to be able to gamble their life earnings starting a business. so yeah, one of those city jobs that 'only' pay around 150k a year is the easiest way to get rich to some people - and that is very rich, although not to you - most people in the uk earn around 39k.
also, degrees like PPE are extremely useful! many banks/top jobs look for and love degrees in PPE, especially from top universities like oxbridge/warwick etc. most people doing PPE at a top uni will get into a top job.
degrees like pyschology are less sought after, but usually people follow psychology because they want to be a psychologist or go into human resources - therefore, their degrees are useful to them although they might not seem like it to you.
again, your last comment that many working class people stay 'poor' because they end up getting jobs that only pay 60k, respectfully again shows me how priveleged your world-view is. most people in the UK would dream of making 60K, although it might not seem a lot to you. 60K is 20 grand higher than the national average.
i'm not sure if i'm interpreting your post wrong, but you seem to believe that your mindset of being entrepreneurial is obviously superior to these 'working class students' who are for some reason chasing grades. i just really encourage you to try to understand how privileged you are and how much money 150k is to most people.
I don’t think I’m superior and I understand that all this privilege I have could all go very quickly. My main point is that so many people spend too much time working on grades. Like realistically am A star student could probably get an A if they revised a few weeks before a levels and then spend the rest of the year trying small entrepreneurial things. They would probably still get into top Russel group universities with A grades. I understand that that education is important and even I went through the whole process of sixth form. More importantly I actually find it sad that there’s individuals out there that could be making so much money if they just focused a bit of their time on a business and the if it is successful then they could go full time and earn a lot more than they would from their job.
Also I understand how ur saying 60K is above average but if you live in any major city,especially London your mortgage or rent is through the roof and you’re paying more than half your salary towards just a place to live.You then have an extra 1K to pay for bills and live off which really isn’t a lot. The figure 60K seems nice but in reality 60K to our generation really isn’t a lot as you will still be just about getting by.
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