Do you think you have more opportunity than your parents?
In terms of job opportunities, prospects of career development, access to education and friends and social life.
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yes 100%, although i'm saying this as a 80's baby who hit the job market pre-**** storm. Think myself and those born around 85/86, will be the last generation to say that.
If there are any Los Campesinos fans out there, this line on their song 5 Flucloxacillin sums it up perfectly:
A peloton of OAPs cycling up behind me
Shouting, "step up your paces, we've got places to be"
A pile-on of OAPs crashing in my slipstream
I turn, "Shut up your faces, I'm not your domestique"
If there are any Los Campesinos fans out there, this line on their song 5 Flucloxacillin sums it up perfectly:
A peloton of OAPs cycling up behind me
Shouting, "step up your paces, we've got places to be"
A pile-on of OAPs crashing in my slipstream
I turn, "Shut up your faces, I'm not your domestique"
God no.
The job market is a complete ****ing mess.
Career development is ****ed, just getting your foot in the door is hard enough. Actually getting promotions is tricky at best, but you can be sure you will get more responsibilities for the same money.
University is ****ing expensive without even factoring in living expenses.
Friends and Social life are fine though, we go that at least.
Oh and don't forget there are no houses for young people and the few we do have are far too expensive.
So in short we are ****ed.
The job market is a complete ****ing mess.
Career development is ****ed, just getting your foot in the door is hard enough. Actually getting promotions is tricky at best, but you can be sure you will get more responsibilities for the same money.
University is ****ing expensive without even factoring in living expenses.
Friends and Social life are fine though, we go that at least.
Oh and don't forget there are no houses for young people and the few we do have are far too expensive.
So in short we are ****ed.
Original post by Willy Pete
God no.
The job market is a complete ****ing mess.
Career development is ****ed, just getting your foot in the door is hard enough. Actually getting promotions is tricky at best, but you can be sure you will get more responsibilities for the same money.
University is ****ing expensive without even factoring in living expenses.
Friends and Social life are fine though, we go that at least.
Oh and don't forget there are no houses for young people and the few we do have are far too expensive.
So in short we are ****ed.
The job market is a complete ****ing mess.
Career development is ****ed, just getting your foot in the door is hard enough. Actually getting promotions is tricky at best, but you can be sure you will get more responsibilities for the same money.
University is ****ing expensive without even factoring in living expenses.
Friends and Social life are fine though, we go that at least.
Oh and don't forget there are no houses for young people and the few we do have are far too expensive.
So in short we are ****ed.
I didn't know this but university loans would be paid back with interest percentage the longer you have the loan. Seems like punishment.
Makes me wonder if the next generation will have the same issues as young people today have. For example by then maybe there won't be an NHS like that we have today, and people would be expected to retire at 75. Like, is it going to get worse, better or stay the same i wonder.
Original post by rustyappletree
I didn't know this but university loans would be paid back with interest percentage the longer you have the loan. Seems like punishment.
Neither the interest rate or repayment percentage increases the longer you have a student loan. Your repayment is fixed at 9% of your earnings above £21k per year.
So if you are earning £25k you repay £30 per month. The loan doesn't affect your credit rating, and any unpaid balance is written off after 30 years.
It's more like a tax than a normal loan repayment.
Posted from TSR Mobile
(edited 7 years ago)
Original post by rustyappletree
I didn't know this but university loans would be paid back with interest percentage the longer you have the loan. Seems like punishment.
Makes me wonder if the next generation will have the same issues as young people today have. For example by then maybe there won't be an NHS like that we have today, and people would be expected to retire at 75. Like, is it going to get worse, better or stay the same i wonder.
Makes me wonder if the next generation will have the same issues as young people today have. For example by then maybe there won't be an NHS like that we have today, and people would be expected to retire at 75. Like, is it going to get worse, better or stay the same i wonder.
Also the interest starts the moment you get the first payment meaning you rack up 3-4 years of interest before your can really pay it back.
It will without a doubt get worse.
Better prospects in everything (apart from social life and friends) than my mother, because my grandparents forced her to read politics at uni, in which she wasn't interested at all, instead of Asian languages (who cares about speaking Japanese, they said).
In respect to my father, maybe better job opportunities in international terms (due to globalisation, I can directly apply for jobs anywhere in the world). I think that the internet also makes things much easier, but his family and him had abundant social connections, certainly not less than ours now. In respect to social life, his parents gave him less money while at uni, so I may have an advantage.
They both travelled the world more than me and spent more time following their hobbies and interest, while in this competitive job market, I have to care more about grades, CV (internships and extracurriculars to differentiate myself) and must graduate in less time than them.
In respect to my father, maybe better job opportunities in international terms (due to globalisation, I can directly apply for jobs anywhere in the world). I think that the internet also makes things much easier, but his family and him had abundant social connections, certainly not less than ours now. In respect to social life, his parents gave him less money while at uni, so I may have an advantage.
They both travelled the world more than me and spent more time following their hobbies and interest, while in this competitive job market, I have to care more about grades, CV (internships and extracurriculars to differentiate myself) and must graduate in less time than them.
(edited 7 years ago)
To give a general response, I think that globalisation and the internet are helping us, but also making the job market more competitive. I'm often surprised by how at their times there were infinite career opportunities for the undeserving, accessible without any effort or merit. Those were times of easy money. And connections mattered much more, now we have online application forms managed by HR or worse by ****ing algorithms (Goldman Sachs, Barclays...)
No, my parents got free university education, much more job availability, cheaper housing market, travel was cheaper too (they have both explored the world on cheap rail and sailing fairs) and frankly in they say that they felt a lot freer to travel than now because of brexit and trumps America etc whereas now there's so many restrictions and fear of being stopped.
(edited 7 years ago)
Original post by Doonesbury
Neither the interest rate or repayment percentage increases the longer you have a student loan. Your repayment is fixed at 9% of your earnings above £21k per year.
It's more like a tax than a normal loan repayment.
Posted from TSR Mobile
It's more like a tax than a normal loan repayment.
Posted from TSR Mobile
thats odd, i got my loan from student fiance England and they send me a letter once a year with interest payments. Unless my loan is different somehow?
Original post by rustyappletree
thats odd, i got my loan from student fiance England and they send me a letter once a year with interest payments. Unless my loan is different somehow?
The interest payable is added to your loan from the beginning. That's normal.
But the repayment of the loan only starts when you start earning. For example, in the unlikely event you never earn more than £21k the interest builds up (and you will keep getting annual statements) but it doesn't have to be repaid.
Original post by Doonesbury
The interest payable is added to your loan from the beginning. That's normal.
But the repayment of the loan only starts when you start earning. For example, in the unlikely event you never earn more than £21k the interest builds up (and you will keep getting annual statements) but it doesn't have to be repaid.
But the repayment of the loan only starts when you start earning. For example, in the unlikely event you never earn more than £21k the interest builds up (and you will keep getting annual statements) but it doesn't have to be repaid.
lol, so it DOES have interest. Why did you say it didn't in your first post?
Original post by mb293
No, my parents got free university education, much more job availability, cheaper housing market, travel was cheaper too (they have both explored the world on cheap rail and sailing fairs) and frankly in they say that they felt a lot freer to travel than now because of brexit and trumps America etc whereas now there's so many restrictions and fear of being stopped.
Air fares have fallen, especially when inflation is taken into account. And I think you'll find a similar tale for the cost of an InterRail ticket.
In the 80s and 90s unemployment was often above 8%, today it's 5%.
Original post by usualsuspects
To give a general response, I think that globalisation and the internet are helping us, but also making the job market more competitive. I'm often surprised by how at their times there were infinite career opportunities for the undeserving, accessible without any effort or merit. Those were times of easy money. And connections mattered much more, now we have online application forms managed by HR or worse by ****ing algorithms (Goldman Sachs, Barclays...)
Connections are still incredibly important, sure we have HR and what have you, but at the end of the day it is still the managers who have the final say on candidates.
Never underestimate connections.
Original post by rustyappletree
lol, so it DOES have interest. Why did you say it didn't in your first post?
Read what I said:
* the repayment rate doesn't increase - it's fixed at 9% of earnings
* and the interest rate doesn't increase the longer you have the loan* (of course the amount of interest payable increases - that's the nature of compound interest, but if you can't repay it they write it off).
* the interest rate varies in line with inflation. If, as is likely, inflation increases then the interest rate will increase. In due course inflation may reduce again - then the interest rate will also reduce.
Original post by Doonesbury
Read what I said:
* the repayment rate doesn't increase - it's fixed at 9% of earnings
* and the interest rate doesn't increase the longer you have the loan* (of course the amount of interest payable increases - that's the nature of compound interest, but if you can't repay it they write it off).
* the interest rate varies in line with inflation. If, as is likely, inflation increases then the interest rate will increase. In due course inflation may reduce again - then the interest rate will also reduce.
* the repayment rate doesn't increase - it's fixed at 9% of earnings
* and the interest rate doesn't increase the longer you have the loan* (of course the amount of interest payable increases - that's the nature of compound interest, but if you can't repay it they write it off).
* the interest rate varies in line with inflation. If, as is likely, inflation increases then the interest rate will increase. In due course inflation may reduce again - then the interest rate will also reduce.
ok just in your first post it sound like there was no interest, what do you mean by 'if you can't repay it? ' is that when it gets written off in 30 years , the interest gets written off? All i see is interest on my loan and it looks scary
Thanks
Original post by rustyappletree
ok just in your first post it sound like there was no interest, what do you mean by 'if you can't repay it? ' is that when it gets written off in 30 years , the interest gets written off? All i see is interest on my loan and it looks scary
Thanks
Thanks
Yes, after 30 years the entire outstanding balance is written off by the government. It is likely that most loans will end up being written off.
In fact, according to this it's 60%:
http://www.telegraph.co.uk/education/educationnews/10747315/Six-in-10-students-will-have-their-debts-written-off.html
It might look scary - but honestly don't worry about it.
Original post by Willy Pete
Connections are still incredibly important, sure we have HR and what have you, but at the end of the day it is still the managers who have the final say on candidates.
Never underestimate connections.
Never underestimate connections.
I never will, don't worry! Connections are still very important, but not as much as once. I've applied to investment banking spring weeks (internships for 1st year students) for example, and I have noticed that often the process was entirely managed by HR, with no role at all for any kind of "manager". Big banks are also much more sensible on ethical and equal hiring practices. Take Barclays, they gave everyone an automatic video interview by Hirevue, an external provider of recruitment services who claims that their algorithm can select the best candidates "by relying on data instead of gut".
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