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    (Original post by Potally_Tissed)
    Excellent outside London, still pretty reasonable in London.
    really? tell me more because I'm on 23k and wanna go to London,particularly East. Which place do you recommend by any chance? :holmes:
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    (Original post by liarpoker)
    That's the whole point. These jobs are 'elite' and attract the best graduates from the leading universities. Your average joe from xyz poly is not the target audience. The below list show a selection of the firms which I'm talking about. I have interned at 3 of the listed firms over the course of this summer. I go to one of the best universities in the country and most of my social circle will be starting on 30k+. At other universities, it will be different, the same focus/emphasis on getting these jobs does not exist.

    http://www.rollonfriday.com/InsideIn...8/Default.aspx

    I'm sure that you can now accept that if you're aiming for a career in corporate law, 40k and upwards is not unrealistic.
    Good for you, it will be no trouble to come back with a P60 then will it?
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    (Original post by Princepieman)
    Please stop with the 100 hours a week spiel, no one works that much consistently. The average is more like 80, spread over 6 days - much more realistic than this concept of 100 hour weeks. Plus, those who work on the markets side generally have much laxer hours in the range of 60 ish, for the same base salary + bonus.

    It's not all doom, gloom and boom as you are led to believe. I'm not even going to delve into the ridiculousness of your 'banks are shady' statement.

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    Spot on. IBD is not 100+ hours every week. In the summer period, it would be very rare for an analyst to work 100 hours in fact. The analysts I work for are doing 60-70 most weeks during the summer but hit 70-100 the rest of the time.

    Also you do get your guaranteed holidays, food every night, taxis home, subsidised medical etc..


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    (Original post by Oschene23)
    Spot on. IBD is not 100+ hours every week. In the summer period, it would be very rare for an analyst to work 100 hours in fact. The analysts I work for are doing 60-70 most weeks during the summer but hit 70-100 the rest of the time.

    Also you do get your guaranteed holidays, food every night, taxis home, subsidised medical etc..

    I've been one of maybe 5-10 on the floor a lot of the weekends I've worked.

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    Graduate jobs in IB make up a ridiculously small percentage of the jobs grads will go into. When talking about how good a starting salary is, it is the worst comparison you could possibly use, especially where it's pay is at an extreme in the market.

    Once you factor in how many graduates are 1) not getting into a "graduate skilled job", 2) how many graduates get into graduate skilled jobs but not on graduate programmes 3) how many graduates work for small organisations rather the big brands you have heard of 4) that IB grad vacancies only make up less than 5% of the graduate jobs on graduate programmes with the big organisations, you can see the scale of the issue.

    £24k as a starting salary will be higher than average, even for London. The average starting salary for the Times Top 100 employers is £30k - and that is only 100 organisations, most of which are clustered in London, and are the pinnacle of pay/prestige.

    People should read this for why the average starting salaries presented in the press are skewed:

    http://www.theguardian.com/careers/r...raduate-salary

    Or watch this:

    http://youtu.be/PY0tVWrsCXw




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    (Original post by yabbayabba)
    It's a run of the mill grad job, not law or banking. I'm alright with it, just curious and wanted to see if it was average or not.
    In that case it's very good, you've got no worries!
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    24 is a good starting salary for London. There are finance jobs in London I applied to in London when I was looking paying 20k with 200 applications for the one job. For graduate schemes they should pay starting salary of 24k minimum. Graduate jobs pay 20k+

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    (Original post by Juichiro)
    Other times, my friend. Back in the days, far less people went to uni.
    It still exists today, though takes a bit longer to get to those points. Hence why school leaver schemes are quite popular for example. At first the salary is low, but by the time everyone graduates, they'll be on roughly the same salary and already have a job and have experience.
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    Right, let's take this ridiculous 70k earnings in year 1, for 80 hours a week, and break it down.

    80*52 = 4160. We'll deduct 6*80 for holidays (6 weeks holiday a year), so that comes to 3680 hours of work per year.

    70k, after tax, national insurance, and student loan repayments, comes to 43,150. Source: http://www.listentotaxman.com/70000?student=y

    43,150/3680 = 11.72 an hour. Not bad by any means, but hardly an hourly rate worth crowing from the rooftops about. Now consider that you have to live in London, most likely in a central location which will enable you to put in the hours required without being killed by commute times.

    Now consider a 25k job, for 40 hours a week. That comes to 19,360 over a year (source: http://www.listentotaxman.com/25000?student=y).

    40 hours a week * 46 weeks of the year (6 weeks holidays, same as the banker) = 1840 hours a year.

    19360/1840 = 10.52 an hour.

    Yeah, if the banker does make 70k (seems on the high side, but whatever), he earns more per hour. A whole 1.20 per hour more. Hardly something worth waving your **** about IMO.

    If the bankers total earnings are 50k per year instead, he is worse off (per hour) than the 25k dude working 40 hours a week.
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    (Original post by voiceofreason234)
    Right, let's take this ridiculous 70k earnings in year 1, for 80 hours a week, and break it down.

    80*52 = 4160. We'll deduct 6*80 for holidays (6 weeks holiday a year), so that comes to 3680 hours of work per year.

    70k, after tax, national insurance, and student loan repayments, comes to 43,150. Source: http://www.listentotaxman.com/70000?student=y

    43,150/3680 = 11.72 an hour. Not bad by any means, but hardly an hourly rate worth crowing from the rooftops about. Now consider that you have to live in London, most likely in a central location which will enable you to put in the hours required without being killed by commute times.

    Now consider a 25k job, for 40 hours a week. That comes to 19,360 over a year (source: http://www.listentotaxman.com/25000?student=y).

    40 hours a week * 46 weeks of the year (6 weeks holidays, same as the banker) = 1840 hours a year.

    19360/1840 = 10.52 an hour.

    Yeah, if the banker does make 70k (seems on the high side, but whatever), he earns more per hour. A whole 1.20 per hour more. Hardly something worth waving your **** about IMO.

    If the bankers total earnings are 50k per year instead, he is worse off (per hour) than the 25k dude working 40 hours a week.
    Lolll. It's not as amazing as it seems!

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    (Original post by Reue)
    And yet if it were so common you would think we'd have a lot of graduates on here earning that amount?

    But we don't, and indeed not a single person has ever came back here with proof that they actually went on to earn the first year earnings that they claimed they would.

    So my challenge to you remains: please come back with proof that you earnt what you claim you will.

    Until then, I shall remain sceptical of people like you who try to claim with certainty that you will be earning a high salary right out of university.
    I kinda have proof of my wage if you want. Its not like stupidly high but its pretty decent too
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    Congrats on your job offer. Its a pretty nice starting salary :-)
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    I'm on a grad scheme in London earning 24K. As I studied in London I knew it would be tight, but to be honest my spending habits are atrocious. I live in Zone 2 at the moment but I'm looking to move further out soon! I did doubt my decision of accepting the job at first, but considering how much training and exposure I'm getting, I feel pretty blessed. Congrats on your offer! Take it and run!
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    This is a pretty good salary!!
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    (Original post by liarpoker)
    I personally would expect in the region of 40-45k, based on the profession that I'm entering.

    (Original post by Reue)
    Judging by your previous threads you're about to enter 3rd year?

    So you'll graduate in 2016? Which means in April 2017 you'll be able to come back and show us a photo of your P60 showing a 40-45k first year salary?

    I'd very much love to see that. Please don't forget

    Bump. Don't forget to show us that P60, should have been posted out to you by now for tax year 16/17
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    (Original post by Reue)
    Bump. Don't forget to show us that P60, should have been posted out to you by now for tax year 16/17
    Hate to burst your bubble, but anyone getting into law won't earn their starting salary for either one or two years post graduating where they have to do the GDL and/or the LPC before they can start a job.

    If this person graduated in 2016, then they have at best been on the LPC for most of the time since then, and probably won't start a training contract for another couple of months.

    But well done on remembering to come back to a two-year long thread to try and prove a point - thats definitely perserverance for you
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    (Original post by J-SP)
    But well done on remembering to come back to a two-year long thread to try and prove a point - thats definitely perserverance for you
    Been asking people for about 7 years now, still waiting for the first one to come back and show that they are making anywhere near what they claimed they absolutely would after graduating.
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    I was very happy to start my first graduate job in London on £24k. But that was in 1990.
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    (Original post by welcometoib)
    the smaller firms in ib? they pay more buddy. all big ibs pay the same minimum 50k.
    No they don't. On either count. Only the top smaller firms pay more and that's literally a handful of them.
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    (Original post by J-SP)
    Hate to burst your bubble, but anyone getting into law won't earn their starting salary for either one or two years post graduating where they have to do the GDL and/or the LPC before they can start a job.

    If this person graduated in 2016, then they have at best been on the LPC for most of the time since then, and probably won't start a training contract for another couple of months.

    But well done on remembering to come back to a two-year long thread to try and prove a point - thats definitely perserverance for you
    (Original post by Reue)
    Been asking people for about 7 years now, still waiting for the first one to come back and show that they are making anywhere near what they claimed they absolutely would after graduating.
    Law is surprisingly low paid. I'm gonna hopefully push for 38K come January, as that's my market worth atm
 
 
 
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