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I'm 24 and I earn £50k a year AMA Watch

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    Given the salary range I'm assuming the back is fairly large - do you b work on specific products or is it a mix? What accounting/treasury systems do you have?
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    (Original post by MyFightSong)
    Are you Indian by any chance?
    Haha I was thinking the same.
    "Sharif" gives it away doesn't it?
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    (Original post by silent ninja)
    Congratulations op. You're doing well in your career and remain rooted and humble. It's nice to see someone giving back to the forum

    If you are happy in the work you do, life becomes easier and the money takes care of itself as you gain skills and experience. The alternative is to burn out and/or become miserable

    Sent from my SM-G925F using Tapatalk
    Thanks!
    (Original post by MyFightSong)
    Are you Indian by any chance?
    No
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    (Original post by natninja)
    Given the salary range I'm assuming the back is fairly large - do you b work on specific products or is it a mix? What accounting/treasury systems do you have?
    Well, technically I'm in the middle, not the back but I agree, the infrastructure function is fairly large.I work on product control for a specific desk, before this I did a rotation around a few desks. I'd prefer not to give away my firms details and disclosing accounting systems, stuff like that.
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    what are your future plans, do you plan on continuing to stay in product control for your bank, make a move?

    also what are your favourite reads about banking?

    is there anything you'd recommend doing to get in the highest bonus pool? (if that pooling system applies to your area?)

    thank you
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    (Original post by Twinpeaks)
    How do you know what life he wants? My sister and her boyfriend rent in London, earn less than 50k and have a pretty good life in my eyes.
    A good lifestyle is very subjective.
    Because 50k salary doesn't necessarily correlate to this:
    (Original post by Sharif92)
    you can get that life you want
    Yes it's enough for some, but for the majority, it isn't likely. Most people are unlikely to be content with sharing a house with others or living far out and having to spend a significant portion of their time commuting.

    I actually live and work in London, all myself and my colleagues earn over 50k yet many of us are still renting small apartments and rely on heavy budgeting. Either way, my salary may be higher since moving to London but I had a much better life back in Bristol with a lower salary.
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    (Original post by NX172)
    Because 50k salary doesn't necessarily correlate to this:


    Yes it's enough for some, but for the majority, it isn't likely. Most people are unlikely to be content with sharing a house with others or living far out and having to spend a significant portion of their time commuting.

    I actually live and work in London, all myself and my colleagues earn over 50k yet many of us are still renting small apartments and rely on heavy budgeting. Either way, my salary may be higher since moving to London but I had a much better life back in Bristol with a lower salary.
    Where do you live in London? It's all relative, perhaps you came from a more comfortable background, so now you perceive your lifestyle to be less than what you are accustomed to.

    Edit:

    Haha, my question was answered by a quick look into your post history.

    A thread of yours- 'I'm a landlord, AMA'.

    "Whether or not we Landlords are human(e), do we really care about our tenants? Whatever, fire away.

    Yes your rent money does pay for our nice cars."

    It appears wealth is very relative indeed, you do seem to suffer a very poor, basic life stlyle!
    Poor you, with your above £50K income, your rental property, and your nice cars
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    (Original post by Twinpeaks)
    Where do you live in London? It's all relative, perhaps you came from a more comfortable background, so now you perceive your lifestyle to be less than what you are accustomed to.

    Edit:

    Haha, my question was answered by a quick look into your post history.

    A thread of yours- 'I'm a landlord, AMA'.

    "Whether or not we Landlords are human(e), do we really care about our tenants? Whatever, fire away.

    Yes your rent money does pay for our nice cars."

    It appears wealth is very relative indeed, you do seem to suffer a very poor, basic life stlyle!
    Poor you, with your above £50K income, your rental property, and your nice cars
    If you bothered to read, my post is about people on 50k. Hence why my example was about my colleagues. Obviously I don't have this problem as I have additional income from investments.
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    (Original post by NX172)
    If you bothered to read, my post is about people on 50k. Hence why my example was about my colleagues. Obviously I don't have this problem as I have additional income from investments.
    Perhaps you should bother to read your own posts-

    "Either way, my salary may be higher since moving to London but I had a much better life back in Bristol with a lower salary."

    Yeah your post wasn't at all about you.
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    (Original post by Twinpeaks)
    Perhaps you should bother to read your own posts-

    "Either way, my salary may be higher since moving to London but I had a much better life back in Bristol with a lower salary."

    Yeah your post wasn't at all about you.
    Why does that matter with regards to that specific comment?
    Anyone, regardless of salary can agree that for the equivalent position outside of London, you will likely have a better life.
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    Do you invest in the market?
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    (Original post by Sharif92)
    Well, technically I'm in the middle, not the back but I agree, the infrastructure function is fairly large.I work on product control for a specific desk, before this I did a rotation around a few desks. I'd prefer not to give away my firms details and disclosing accounting systems, stuff like that.
    Typo, meant bank. Fair enough, why product control rather that say FP&A?
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    (Original post by gr8wizard10)
    what are your future plans, do you plan on continuing to stay in product control for your bank, make a move?

    also what are your favourite reads about banking?

    is there anything you'd recommend doing to get in the highest bonus pool? (if that pooling system applies to your area?)

    thank you
    I plan to stay in product control but in a more senior position.
    I haven't read anything about banking.
    In my area, bonuses are the same for all analysts and associates. At higher levels, the bonus depends more on your performance and how much you screw up. Top performers at the analyst/associate level or any middle office/back office role tend to be rewarded early promotions rather than bonuses.
    (Original post by Peter Lynch)
    Do you invest in the market?
    Yes.
    (Original post by natninja)
    Typo, meant bank. Fair enough, why product control rather that say FP&A?
    I never really considered it, I just found product control very interesting and went for that.
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    Not sure if I missed this so will ask; presuming you work in (or near) the city, what region do you or most of your colleagues live in? Wondering what areas, perhaps Canary Wharf or Southwark, are popular with analysts etc
 
 
 
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