Being the sole provider is pretty much the whole point of what they were saying. Not too long ago all of that could be done whilst being the sole provider, having duel income then would have given even more.
What have your mates under 25 and on under £25k got? A four bedroom house, above average car, paid for a wedding and are bringing up 2+ kids?
£50k in eight years is £520/month, lets call it £500. Take home pay of someone on £25k is £1,660 - saving 30% of your net pay is quite a savings rate you're suggesting.
I'm not imagining a four bed house in London (like will2348's uncle bought) I was suggesting somewhere like Worksop as you said it could be done out of London. But as you move to cheaper housing areas the likelihood of a job that pays as well reduces, there is a balance to be had there.
I don't know where you got that impression from, most guys want to be the main provider yes. Few people want a wife that does nothing. Like I said the general gist is that people want to be able to own a nice house and car and take care of their family comfortably.
Saving £500 a month on a £25k is not easy and will take discipline but definitely doable but only when you're not paying £600-700 on housing, £100 on travel at least on top of expensive weekend socialising that more than likely necessitates a taxi at the end of the night. This is the very essence of what I'm saying. You have absolutely no chance if you're in London and a chance when you live somewhere else. It's unlikely the salary would remain at 25k in those 8 years as well so saving would get easier over time. Salaries above £60,000 are harder to come by but £30-40k is definitely standard for managerial roles.
One reason is because most people that work in the industries that you mentioned; investment banking and law, must give up their whole livelihood to work if they want to earn above £50k. Believe it or not, some people don't want to exchange their freedom and physical and mental health to make more money than they actually need.
'Money' has no inherent value or connection to human beings. It's simply a means of currency to trade with.
I find it difficult to believe that you don't understand why someone would rather be a teacher than an investment banker or lawyer.
One reason is because most people that work in the industries that you mentioned; investment banking and law, must give up their whole livelihood to work if they want to earn above £50k. Believe it or not, some people don't want to exchange their freedom and physical and mental health to make more money than they actually need.
'Money' has no inherent value or connection to human beings. It's simply a means of currency to trade with.
I find it difficult to believe that you don't understand why someone would rather be a teacher than an investment banker or lawyer.
Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.
I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.
When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.
Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.
I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.
When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.
Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.
I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.
When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.
Are you implying that people outside of IB/Law can never afford anything nice, can't support their families and can't enjoy themselves due to crippling poverty? Surprise: you don't have to be on six figures to be able to support a family and afford nice things.
I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
Exactly, title says well paid but for professions like IB/Law etc you work a lot more hours than the average which represents what you get paid, I mean go ahead if you enjoy doing that, but for me and many others, I can't spend that many hours doing something I don't like.
I want to earn £21,000 > x > £20,000 for the first 30 years after my graduation from university just so that I don't pay back even a penny of my tuition fees. Earning below £21,000 will not count as being in student debt technically, or am I wrong?
I want to earn £21,000 > x > £20,000 for the first 30 years after my graduation from university just so that I don't pay back even a penny of my tuition fees. Earning below £21,000 will not count as being in student debt technically, or am I wrong?
You'd be in student debt, just not making repayments.
Why don't you earn less than £10,600 then you don't pay back a penny of income tax either? Which is way higher.
I was on the Aldi graduate scheme so working in retail management then moved into sports development with the RFU. It's a long-term career move into something I'm passionate about. High wages are no good when it makes you miserable earning them.
I really find it hard to understand why people go for low paid jobs when they seem to have the intellectual capability to aim for industries which are relatively well-paid.
I see students who have the credentials and the profile potential to enter industries such as law, investment banking being etc.. but instead choose to go into places such as teaching. Are they just lazy?
So if you do intend to get out of bed for a job that pays less than £50k a year and you're smart (i.e flawless grades/credible uni/strong ECs), why? what's your motivation?
inb4, "it's my passion".
My goal is self fulfillment....what's your problem with that? I care more that I do something that interests me. If I get to travel Scandinavia doing research but I only earn £20k a year, that would be perfect for me. Don't get me wrong I do want to earn as much as I can, but it's not the main priority. Everyone is different
I would happily teach for 20k a year...I would feel like I am making a true difference. If one of my students became a successful PhD student, my life would be complete. That's all we're all doing in the long run...trying to give life meaning. TEH DEEPZ.
Why do people want to slave away at law and investment banking firms making other people rich when they can set up their own business and become extremely rich themselves. I just don't understand why people like Abdul-Karim would get out of bed in the morning to go and make these other directors richer whilst he has to work overtime in a high pressured environment. What is your motivation?
For me, money isn't everything and I want to help others but I still want to make enough to live comfortably. I can do both by becoming a teacher and setting up my own language school abroad whereby I am the person in charge and I call the shots. I'm effectively killing two birds with one stone.
Why would I work for someone else when I can do that? You will essentially be slaving away at a law firm being shouted at by your superiors and I'll be heading home from work for a nice margarita near the beach in Europe. Now tell me who's got it all worked out.
Why do people want to slave away at law and investment banking firms making other people rich when they can set up their own business and become extremely rich themselves. I just don't understand why people like Abdul-Karim would get out of bed in the morning to go and make these other directors richer whilst he has to work overtime in a high pressured environment. What is your motivation?
For me, money isn't everything and I want to help others but I still want to make enough to live comfortably. I can do both by becoming a teacher and setting up my own language school abroad whereby I am the person in charge and I call the shots. I'm effectively killing two birds with one stone.
Why would I work for someone else when I can do that? You will essentially be slaving away at a law firm being shouted at by your superiors and I'll be heading home from work for a nice margarita near the beach in Europe. Now tell me who's got it all worked out.
For some funny reason I highly doubt that. Even with years of experience IB's earn around £150k and you have to work your way up to that from around £40k. That isn't that much in reality. The reality is you'll be slaving away for someone else all day and night so they can get richer and richer. Sorry, but there's no chance you're going to be richer than myself by working for someone else. On top of that you'll have a mortgage to pay off whereas I won't have a mortgage as I already own assets.