Average earning in Industrial Placement Year

This is chem eng:
Average between my friends (may or may no be representative): About £16.5k

Mine is £14k because i went for an easy option, turns out I have got a lot more out of my placement so far than my friends so I couldn't care less about the difference in salary. One friend earns £18k I think.

Can't tell you whole year stats though since I don't know.

Reply 2

Oh and per month is normal, I don't know anybody who would get paid per week. Out of my friends, 3 of us out of 7 are not employed by the company but instead by agencies; keeps us away from employee benefits such as share schemes and keeps their headcount down.

Reply 3

OP

many thanks for the info, pghstochaj. :smile:

any idea about the salary of engineering jobs in (14-week) summer vacation?

Reply 4

<A-S-H-I-Q-U-E>

many thanks for the info, pghstochaj. :smile:

any idea about the salary of engineering jobs in (14-week) summer vacation?

Pro-rata of similar amounts to the above. The only one summer placement I have received an email about was £14k, so divide by 52 and multiply by 14 for total pay :smile:

Reply 5

OP

pghstochaj

Pro-rata of similar amounts to the above. The only one summer placement I have received an email about was £14k, so divide by 52 and multiply by 14 for total pay :smile:

Wow.. that's great! :smile:

But i'm sure it's a bit competitive to get summer placements.

Cheers

Reply 6

ukebert

13

Well, for Faber for post A2 level, pre uni, it's around 1k per month. However, it can go higher than that, up to around 14k for a year. Of course, if you're taking a sandwich course then it'll be higher cause you're more qualified.

Reply 7

OP

Any idea... how do you qualify for receiving industrial sponsorship for your final year in a sandwich programme?

Have you heard of any international (non-EU) engineering student who got sponsored after working for one year in industry and didn't have to pay his/her tuition fees for final year?

Reply 8

You just ask, on my course we get higher marks if we secure sponsorship for our final year of some form, and a job offer.

At my company, the YinI students (post VI form) get £11.5k. They are considered able to do technical admin work, as a placement student they consider me to be of graduate level in most ways.

I don't know anybody who has been sponsored for their final year, but it obviously happens. A few of my friends have job offers now, half way through their 3rd year with 18 months remaining.

Reply 9

OP

ok.. thanks again for all the replies. I've one more question to ask today (hope you don't mind answering :wink:

)

I intend to transfer to a decent UK uni directly to Year 2 (or Year 3, in case I go to a Scottish uni) of BEng Civil Engineering. Tbh, my parents can afford to pay only one year study and living expense (which will be around GBP16500). So, after completing Year 2, if I take a year out in industry (and can earn around £16.5k); won't it be possible to pay my tuition fees and living expenses for the final year from my earning?

ps: I want to apply to those unis which do not charge any tuition fees during the year in industry.

Reply 10

I can't really help with that, sorry. I do know that UMIST/Manchester charge half fees for our year in industry, so about £600 for me, but significantly higher for overseas students!

Reply 11

OP

It's ok... actually i'm not asking which unis do not take tuition fees during industrial year coz I've already figured them out. One good example is Heriot-Watt.

I'm just wondering whether you've heard anyone (esp intn'l students) financing their study cost (incl tuition fees + living expense) for the final year from what they earned during the year in industry.

Reply 12

Arminius

well if your tuition and living expense are 16.5k a year you will be very hard pressed to earn that much to keep during a placement. You will have to pay for your living etc during that placement year, which is gonna cost minimum of about £5k - then most of your earnings will be taxed at 22.5 %, reducing the pool further. I think you'd be pushed to build up more than about £8k in the bank during one year.

So, no. You can't finance your costs with one years placement earnings. Unless you can get some sort of extra help.

Reply 13

OP

Zebedee

You will have to pay for your living etc during that placement year, which is gonna cost minimum of about £5k

Okay... but what if I can save my earnings in the first year of study to spend for my living in the industrial placement year?

Isn't it possible to earn around £5k each year from part-time jobs during vacation (14 weeks), christmas, easter, and during some weekends (in term time)?

Zebedee

then most of your earnings will be taxed at 22.5 %, reducing the pool further.

Regarding the Income Tax:

Say, I can earn £16,500 during the industrial placement year. According to this website, I've to pay the tax in the following way:

(i) no Income tax on the first £5,035, leaving me with £11,465

(ii) £2,150 of this will be taxed at 10 per cent (£215)

(iii) the remaining £9315 will be taxed at 22 percent (£2049.30)

This means that over the course of the year, I'll have to pay £2264.30 in Income Tax. Therefore, I'll be left with £14,235.70.

Zebedee

I think you'd be pushed to build up more than about £8k in the bank during one year.

Could you please clarify this from any authentic website (if you know any)?

(I'm just wondering how true it is.)

Reply 14

Arminius

If your living expenses are covered from first year, then yes. i suppose you could earn £14.5k as your calcs suggest.

I don't think placement students have holidays, placement year is like going to work. So you will have about 4 weeks off, not uni holidays. I THINK.

Reply 15

Yep, 21-27 days off, you're working 12 months for that, not 9 months. You also missed off N.I from your calcs? You will however be able to claim back some of your tax since your april-end of work period means you won't earn enough to go over your 0% allowance.

Factor in living costs and commuting costs and you realise it's pretty difficult to save much over the year, plus £16.5k for civil may well be over-optimistic? I don't know.

Reply 16

OP

hmm... regarding N.I. (National Insurance) the same website states:

if you earn above £97 a week (the 'earnings threshold') and up to £645 per week you pay 11 per cent of this amount as 'Class 1' NICs

I'm just taking the figure £16.5k as an average figure. How do you calculate the income per week? (i.e. 16500 divided ?? weeks)

And do you pay the N.I. per month (when you get your salary) or per year?

Sorry if i'm asking too many questions.

Reply 17

<A-S-H-I-Q-U-E>

hmm... regarding N.I. (National Insurance) the same website states:

if you earn above £97 a week (the 'earnings threshold') and up to £645 per week you pay 11 per cent of this amount as 'Class 1' NICs

I'm just taking the figure £16.5k as an average figure. How do you calculate the income per week? (i.e. 16500 divided ?? weeks)

And do you pay the N.I. per month (when you get your salary) or per year?

Sorry if i'm asking so many questions.

Use this:
http://www.listentotaxman.com/index.php?calc=1&year=2006&age=0&add=0&taxcode=&period=1&ingr=16500&Submit=Calculate

NI is taken off as you earn.

Reply 18

OP