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A Quarter of UK grads are low earners watch

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    This is me. *Salaries are rubbish in NI anyway but I graduated at the worst possible time. *It also doesn't help that I chose a career path which requires further study, but which I can't afford to pay for due to the aforementioned rubbish salaries. *All stuff I could have known about before going to uni, but didn't because my school gave no careers advice and my family were no help either.
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    ...and this will get a lot worse post-Brexit, with more graduates being unemployed for a year or two and then progressing slower in their careers due to England's (the UK will probably cease to exist) economy teetering on the brink of recession for many years to come.

    But hey, don't worry, you can work in German factories, we'll give you nice jobs!
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    (Original post by Rakas21)
    Yes. Graduate wages are heavily amplified in perception by IB, the big 4, law. It's not the norm for the majority.
    I would say it's not just IB that inflates students expectations. Remember that Studentroom thread that asked what people thought they would be making? So many £50ks and over and barely saw even a few posts expecting less than 30k. Universities gloss over this too showing only the best student destinations on their "what career can I expect?" pages and not showing the full story that many end up in retail or hospitality. It reflects my anecdotal experience as well, my two younger cousins are expecting 25k to 30k as a first job salary let alone ten years later.

    We need to end this fairyland and give students realistic information so they can make informed choices. Such as getting work experience in the summer holidays, getting involved in societies etc.
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    (Original post by Drewski)
    I can see why if they can't correctly spell 'quarter'.
    Forgive me, dear Drewski, I wrote this at 3am. Edited now.
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    (Original post by Rakas21)
    Yes. Graduate wages are heavily amplified in perception by IB, the big 4, law. It's not the norm for the majority.
    That's pathetic. I started at around 40k in consulting (while living in a city way cheaper than London) and felt like I wasn't earning nearly enough for the lifestyle I wanted (and deserved, working 60+ hours a week).
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    And this is what happens when people are encouraged to go to university and get a degree they don't need instead of getting 3+ years of actually valuable experience just so the government can keep youth unemployment down.
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    Wow, a distribution of earnings? Who would have thought such a thing could happen? Amazing.

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    (Original post by Rakas21)
    Yes. Graduate wages are heavily amplified in perception by IB, the big 4, law. It's not the norm for the majority.
    This is very much true, add consulting, tech, oil&gas, medicine and those top management trainee programs to the list too.

    Everyone else (even engineers and such like) is on a pretty modest salary scale. People forget that small to medium sized companies are the greatest employer of uni grads.

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    (Original post by 99_Problems)
    I would say it's not just IB that inflates students expectations. Remember that Studentroom thread that asked what people thought they would be making? So many £50ks and over and barely saw even a few posts expecting less than 30k. Universities gloss over this too showing only the best student destinations on their "what career can I expect?" pages and not showing the full story that many end up in retail or hospitality. It reflects my anecdotal experience as well, my two younger cousins are expecting 25k to 30k as a first job salary let alone ten years later.

    We need to end this fairyland and give students realistic information so they can make informed choices. Such as getting work experience in the summer holidays, getting involved in societies etc.
    Tbf, a lot of people on TSR do manage to end up in IB/Law etc, so it's not that unrealistic. But this site has awful sampling bias to prestige obsessed and high achieving students.

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    9k a year for a library subscription fee... its all a bit sad really
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    Jaguar is offering a 30k salary after 2 years of training! That's why I'm doing an apprenticeship soon
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    (Original post by hellodave5)
    9k a year for a library subscription fee... its all a bit sad really
    Exactly, and when you can learn pretty much everything online these days what's the point :/
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    (Original post by 99_Problems)
    ...Ten years after graduating university

    https://www.theguardian.com/educatio...re-low-earners

    Thoughts?

    I know the usual suspects will say "trololololo should have picked STEM then!!?!" but I think a lot of factors are involved here such as the huge growth in the hospitality/retail service industries which often don't guarantee hours or pay well, lower growth in high skilled industries, the recent economic crisis, amount of people going to university, lack of concrete attractive options post-school.
    Things like this make me laugh.

    Since the tutiton fees hike to 9k p.a. you have all these grads who are earning average or below average salaries, and have mountains of student debt to repay, and yet they all live this YOLO lifestyle of holidays every 3 months, high-end pricey gadgets and partying every weekend.

    If they're trapped in wage slavery they deserve every second of it.
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    (Original post by Radisson Blue)
    Things like this make me laugh.

    You have all these grads who are earnings average or below average salaries, and have mountains of student debt to repay, and yet they all live this YOLO lifestyle of holidays every 3 months, high-end pricey gadgets and partying every weekend.

    If they're trapped in wage slavery they deserve every second of it.
    Isn't it more the reverse though? You spend like that because you are trapped. So I have friend who lives the lifestyle you describe with many weekend breaks and lots of partying etc. because his salary is so low that saving is kind of pointless.

    It's hard to feel motivated to save for a mortgage, car, starting a family if your salary is 19k, you live in the South, and in a houseshare it would take ages. The goalpost seems a very long way away so might as well spend it as you get it and enjoy being young. If you're saving a measly 100 pounds a month it will take ten years to get a £10k deposit. If you were on 35k saving would seem more worthwhile as the goal is actually in sight.
    (Original post by DarkMagic)
    This is me. *Salaries are rubbish in NI anyway but I graduated at the worst possible time. *It also doesn't help that I chose a career path which requires further study, but which I can't afford to pay for due to the aforementioned rubbish salaries. *All stuff I could have known about before going to uni, but didn't because my school gave no careers advice and my family were no help either.
    Would you consider taking your talents elsewhere? My friend is moving to Denmark in a few months after working in retail since his graduation. He has a applied for an IT role and actually got it.
    (Original post by Jee1)
    Jaguar is offering a 30k salary after 2 years of training! That's why I'm doing an apprenticeship soon
    I read that and thought it was quite impressive. Good choice! My first salary after graduation was 24k which is ok but then I also have that much in debt while apprentices won't have that.
    (Original post by Princepieman)
    Tbf, a lot of people on TSR do manage to end up in IB/Law etc, so it's not that unrealistic. But this site has awful sampling bias to prestige obsessed and high achieving students.Posted from TSR Mobile
    That's true. But it inflates the expectations of lurkers and students reading that who are going for different careers I would say. It certainly did to me back in old 2010. Yet it isn't the reality I didn't realise that the 24k I got was actually a lot for my course when you look at the unistats for my course the average is 17k but that is the side unis and colleges don't talk about.
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    (Original post by Jee1)
    Exactly, and when you can learn pretty much everything online these days what's the point :/
    It helps a lot with structuring your learning. But you can buy a single book for £80-100 which has the perhaps accumulated knowledge of mankind in a specific area.
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    (Original post by 99_Problems)
    Would you consider taking your talents elsewhere?
    Heading to Australia in September 😄.
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    (Original post by 99_Problems)
    That's true. But it inflates the expectations of lurkers and students reading that who are going for different careers I would say. It certainly did to me back in old 2010. Yet it isn't the reality I didn't realise that the 24k I got was actually a lot for my course when you look at the unistats for my course the average is 17k but that is the side unis and colleges don't talk about.
    I agree careers advice in this country is a complete and utter shambles. So many posts on TSR show that by themselves. I heard someone once say that STEM degrees are a way to riches - being fully serious - when engineers and scientists have lower than expected salaries.

    I wouldn't look at your course average, what matters is your job/industry's average. Others on your course might be doing something completely unrelated to your current job - which I guess is another issue, people using course salary averages as benchmarks.


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    (Original post by hellodave5)
    9k a year for a library subscription fee... its all a bit sad really
    Speak for yourself. I dread to think of the amount of gold I used in my dissertation, not to mention the running of all the equipment, other materials and chemicals, professors time, the amount I printed for free. And that was just my dissertation.

    I also only paid £3k, they're not such good value now I admit.
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    (Original post by TitanicTeutonicPhil)
    That's pathetic. I started at around 40k in consulting (while living in a city way cheaper than London) and felt like I wasn't earning nearly enough for the lifestyle I wanted (and deserved, working 60+ hours a week).
    This sense of entitlement is hilarious. Why do you deserve a certain lifestyle?

    Jobs are 50% luck anyways. I know people starting in consulting on £100k who would wonder what the hell you did wrong. Equally there's nothing "pathetic" about earning less. You've been luckier than some.
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    (Original post by Dheorl)
    Speak for yourself. I dread to think of the amount of gold I used in my dissertation, not to mention the running of all the equipment, other materials and chemicals, professors time, the amount I printed for free. And that was just my dissertation.

    I also only paid £3k, they're not such good value now I admit.
    You said speak for myself but that you also agree? The lack of value was my point really.

    All the materials etc. isn't that valuable, and professors time isn't worth 9k to you.

    3k, sure... Even still, is a lot of money between a class; the average if I remember correctly is around the ballpark of £30-40 per lecture... and that's before the rise to 9k...
 
 
 
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