Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta

What is a decent salary? watch

Announcements

    the house prices here are ridiculous although i do loathe the style of english houses
    Offline

    0
    ReputationRep:
    (Original post by Incomplete)
    depends on age, experience, qualitifactions and characther. If you as thick as two short planks are very old and have no experience 15k is an amazing wage.
    its completely subjective which is what some previous posters have alluded to
    I see your point, we are discussing salaries in the thousands yet in some parts of the world people survive on a few hundred a year........
    Offline

    0
    ReputationRep:
    (Original post by Dajo123)
    I see your point, we are discussing salaries in the thousands yet in some parts of the world people survive on a few hundred a year........
    but the cost of living is much lower! you can't really compare like for like. Someone else were might be on 500 quid a year and you on 20000 a year say, but our money buys us less that the 500 quid guy. An onion here might cost 19p, and onion there might cost 1p.
    Offline

    0
    ReputationRep:
    (Original post by Vladek)
    Someone else were might be on 500 quid a year and you on 20000 a year say, but our money buys us less that the 500 quid guy.
    Assuming their country has much in the way of recourses.

    My friend has been signed off work for 5 years and is on incapacity benefit, she receives £2000 per year (but shes pretty happy with that).
    Offline

    3
    ReputationRep:
    (Original post by Jools)
    An individual. In fact £7-8k's enough if you consider that students survive on ~£5k/year.
    In a heavily subsidized environment.
    Offline

    13
    ReputationRep:
    (Original post by Jools)
    An individual. In fact £7-8k's enough if you consider that students survive on ~£5k/year.
    And run up twelve grand's worth of debt after three years
    Offline

    2
    ReputationRep:
    I'm a student - just starting my Gap year and I've been offered a job with a salary of £10,000. I don't think its too bad since its my first job
    Offline

    0
    ReputationRep:
    doing what?
    Offline

    14
    ReputationRep:
    (Original post by Dr. Blazed)
    And run up twelve grand's worth of debt after three years
    More than that!
    Offline

    0
    ReputationRep:
    12 grand worth of debt from studying for a degree doesn't sound that big, considering that recent statistics published show that the average graduate earn 20,000 pounds in the first year. So your debt is basically about half a year's pay, so why complain? You'll most likely be very able to pay it off in 4-5 years, which is not much.
    Offline

    0
    ReputationRep:
    (Original post by boonkoh)
    12 grand worth of debt from studying for a degree doesn't sound that big, considering that recent statistics published show that the average graduate earn 20,000 pounds in the first year.
    Where did you read this? have you got a link?
    Offline

    12
    ReputationRep:
    (Original post by boonkoh)
    12 grand worth of debt from studying for a degree doesn't sound that big, considering that recent statistics published show that the average graduate earn 20,000 pounds in the first year. So your debt is basically about half a year's pay, so why complain? You'll most likely be very able to pay it off in 4-5 years, which is not much.
    Those surveys are usually based on Top 100 company salaries
    Offline

    1
    ReputationRep:
    (Original post by boonkoh)
    12 grand worth of debt from studying for a degree doesn't sound that big, considering that recent statistics published show that the average graduate earn 20,000 pounds in the first year.
    Constantly you get media reports that the graduate starting salary has exceeded £20,000. This is utter nonsense. This is usually the average of the top 100 or so blue-chip firms which only a small minority of graduates get into. The average starting salary upon graduation nationally is more like £12-13k.
    Offline

    0
    ReputationRep:
    OK. For sceptics, there will always be a way to argue against something or another. All I'm trying to do is to show that there are graduates who are earning 20,000+, and I think they are a sizeable amount of them too. Here's the link to the article: http://education.guardian.co.uk/stud...131606,00.html

    It was writen in January 2004, and I think it said that the mode of survey was by giving questionnaires to 100+ companies that hire graduates. Apparently this is not the first year this survey has been run, so all the bugs and shortcomings should have been worked out.

    12-13k seems to be a unlivable. Taking a rough low estimate of 25% salary tax, that means the take-home salary is only around 9,750 per year, which translates to 800 pounds a month. I think most of you students will find that if you add up your all the expenses you are going to incur in uni (housing,food,allowance,transpor tation,clothes) you will find that your monthly budget is in excess of 500 pounds. Therefore, 800 pounds a month is pittance when you consider you have to pay for furniture, household appliances and all that as well.

    15,000 seems like a good minimum, and 20,000 seems to be a liveable amount.

    For a comparison, think of it this way.... if you work 40 hours a week at 6 pounds an hour unskilled wage for 43 weeks a year, you're earning 10,000 pounds. IF a graduate starting salary is only 12,000 pounds a year, then why bother going to uni?
    Offline

    1
    ReputationRep:
    Hopfully at least 30k starting although I hear Accenture (one of the top consulting firms) start you on 28k.
    OR, a nice Investment Banking job starting on 35K (lol) and by time I'm 30 hopefully earning near or over the 100k mark. But I do have a few business plans in my head so when i'm tired of making money by helping rich people get richer I may start working for myself. All I'll need is a few clever graduates with good business minds willing to start on 20k (long ghours!!) but 5 years down the line we shall go public and they shall be laughing all the way to the bank.
    Any takers.
    Please post your CV's.

    Hey Jools I hear you're interning in the city, my sources are saying the best graduates are starting on thr 45k mark, now that sounds crazy do you know anyone from uni going for one of these super jobs. I presume it's corporate finance though.

    45k per year. Thats £865.38 per week. Divide that by say 90 hrs and £9.61 per hour.lol. (AND ALL THAT'S OMITTING TAXES AND STUFF)
    Why is it that figures like that don't seem to phase graduates and admittedly myself? Maybe it's the future career prospects or the fact that we can tell mummy and daddy that we work for JP Morgan and the like.
    Offline

    0
    ReputationRep:
    45k per year. Thats £865.38 per week. Divide that by say 90 hrs and £9.61 per hour.lol. (AND ALL THAT'S OMITTING TAXES AND STUFF)
    Errrr.. you're planning to work 90 hours a week? Let me see... on a 5 days work-week, that comes up to 18 hours a day? Geez...

    And face it... 9 pounds an hour pay isn't that good. You could get more than that giving piano lessons, and that doesn't even require a uni degree!
    • Very Important Poster
    • PS Reviewer
    Offline

    21
    ReputationRep:
    Very Important Poster
    PS Reviewer
    (Original post by Jools)
    Constantly you get media reports that the graduate starting salary has exceeded £20,000. This is utter nonsense. This is usually the average of the top 100 or so blue-chip firms which only a small minority of graduates get into. The average starting salary upon graduation nationally is more like £12-13k.
    The national average is actually a fairly healthy £16,393

    More than I was earning in my first post-graduation job....
    Offline

    2
    ReputationRep:
    (Original post by Jools)
    The average starting salary upon graduation nationally is more like £12-13k.
    Indeed.
    Offline

    14
    ReputationRep:
    (Original post by TheWolf)
    Indeed.
    Yeah, I think the modal value is more like 12-13K (I would use the mode here rather than the mean which is squewed (sp?) by a small minority of higher earners).
    Offline

    12
    ReputationRep:
    (Original post by ChemistBoy)
    Yeah, I think the modal value is more like 12-13K (I would use the mode here rather than the mean which is squewed (sp?) by a small minority of higher earners).
    Since the distribution is unlikely to be unimodal it is better to see a nice graph PQ?
 
 
 
Poll
Do you like carrot cake?
Useful resources

Articles and guides:

Hands typing

Degrees without fees

Discover more about degree-level apprenticeships.

A-Z of careers Advice on choosing a careerCV writing helpCovering letter helpInterview tips

Featured recruiter profiles:

CGI logo

CGI is open for applications

"Offering a range of apprentice and sponsored degree positions."

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

ICAEW logo

Merck

"Merck is a global leader in specialized pharma & chemicals – join us!"

Army logo

The Army is recruiting now

"With hundreds of roles available, there’s more than one way to be the best."

Bianca Miller, runner-up on The Apprentice

Handle your digital footprint

What would an employer find out about you on Google? Find out how to take control.

Quick links:

Unanswered career sector and employment threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.