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Less than 10% of the population will earn more than £50k. watch

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    And this is BEFORE tax.

    I remember seeing a thread where most people seemed so confident in earning 100k by the time they were 25. Just LOL.
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    (Original post by angelike1)
    And this is BEFORE tax.

    I remember seeing a thread where most people seemed so confident in earning 100k by the time they were 25. Just LOL.
    These people are wannabe investment bankers... don't kill their dreams

    But there are a few degrees out there where, even ten years ago and in the midst of the crisis, graduates were averaging a median of £50k or more. So it's a reasonable hope for some.
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    Earning 50k a year is a privilege.

    You need to earn only a median income of £24,000 a year to become the top 1% of earners in the world.
    Be grateful.
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    If it were so easy to earn that money, everything would be expensive. Imo the benefits system needs an overhaul. The state really shouldn't just give money away. They have to look at each disability and find the best way to accommodate people with them.
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    (Original post by The PoliticalGuy)
    Earning 50k a year is a privilege.

    You need to earn only a median income of £24,000 a year to become the top 1% of earners in the world.
    Be grateful.
    I'm very grateful.
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    (Original post by angelike1)
    And this is BEFORE tax.

    I remember seeing a thread where most people seemed so confident in earning 100k by the time they were 25. Just LOL.
    What is your point? It's clear that a not insignificant percentage will earn over £50k, of which some will earn significantly more.

    A good Software Engineer will earn way in excess of £50k peak earnings - in Silicon Valley you could start on ~$100k. I know many in the UK on over £100k (with 10 years of experience), and some on over £150k (outside of London).
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    (Original post by angelike1)
    And this is BEFORE tax.

    I remember seeing a thread where most people seemed so confident in earning 100k by the time they were 25. Just LOL.
    I think it's the top 20% earn more than £50k.



    But yes, life's not all paved with gold after you get your degree.
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    (Original post by RogerOxon)
    What is your point? It's clear that a not insignificant percentage will earn over £50k, of which some will earn significantly more.

    A good Software Engineer will earn way in excess of £50k peak earnings - in Silicon Valley you could start on ~$100k. I know many in the on over £100k (with 10+ years of experience), and some on over £150k (outside of London).
    Point is most young people overestimate how much they'll earn.

    (Original post by Doonesbury)
    I think it's the top 20% earn more than £50k.



    But yes, life's not all paved with gold after you get your degree.
    That's weird. Did I misinterpret the table here?

    https://www.gov.uk/government/statis...-and-after-tax
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    (Original post by angelike1)
    That's weird. Did I misinterpret the table here?
    https://www.gov.uk/government/statis...-and-after-tax
    Hmm, yours is 2014-15.

    Mine is 2015-16
    https://www.equalitytrust.org.uk/sca...-inequality-uk

    Ah hold on, mine is household not individual. Yours is correct
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    (Original post by angelike1)
    Point is most young people overestimate how much they'll earn.
    Perhaps you should present some evidence for that then.

    You've quoted statistics that show that under 10% will have peak earnings of over £50k, but not that more than that expect to. You might have the impression that 'a lot' of young people think that they will, but that's not very scientific.
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    (Original post by angelike1)
    Point is most young people overestimate how much they'll earn.
    Your statistics also only cover those that stay in the UK.
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    (Original post by RogerOxon)
    Your statistics also only cover those that stay in the UK.
    And averages vary significantly by UK region too...
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    (Original post by RogerOxon)
    Perhaps you should present some evidence for that then.

    You've quoted statistics that show that under 10% will have peak earnings of over £50k, but not that more than that expect to. You might have the impression that 'a lot' of young people think that they will, but that's not very scientific.
    I was only referring to a few threads on TSR - I'm actually not planning to write a paper on this.

    (Original post by RogerOxon)
    Your statistics also only cover those that stay in the UK.
    Well these are the best statistics i can get - for your sake I'm addressing people who are planning to stay in the UK.
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    (Original post by angelike1)
    And this is BEFORE tax.

    I remember seeing a thread where most people seemed so confident in earning 100k by the time they were 25. Just LOL.


    the stats are not surprising

    If you want to make big money most likely you'll have to do it off your own back [self employment]

    very few will become "rich" working for someone else.

    you can have a quite comfortable life working for someone else, but it's unlikely to make you wealthy
    • Political Ambassador
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    Damn 10% with 50k...Standards are pretty low
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    (Original post by ANM775)
    the stats are not surprising

    If you want to make big money most likely you'll have to do it off your own back [self employment]

    very few will become "rich" working for someone else.

    you can have a quite comfortable life working for someone else, but it's unlikely to make you wealthy
    Can't I just go into "finance" or become an "investment banker" or "trade stocks"???
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    (Original post by angelike1)
    Can't I just go into "finance" or become an "investment banker" or "trade stocks"???


    yeah you can take a degree in finance but it's pretty hard to then go into investment banking, there's a lot of competition for it. It looks like only a fraction of people who want in get in

    trading stocks, you'd need probably around at least £5k first to get started. There are low barriers to entry [you just need a broker and a trading platform] ...but then again it's not exactly easy to become competent/skilled in trading stocks, but the potential for high earnings is definately there


    same with forex, although you need less capital to start than stocks. It's not easy to become competent to the point you can do it for a living, but the potential for making big money is definitely there....
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    agreed with The PoliticalGuy

    i was always made to feel miserable on my mediocre wage but then I entered my wage into the global rich list and turns out that even if you are making minimum wage in the uk, or less, you are still part of the highest percentage of richest people in the world by income. really puts things into perspective.

    try it yourself - http://www.globalrichlist.com
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    (Original post by ANM775)
    yeah you can take a degree in finance but it's pretty hard to then go into investment banking, there's a lot of competition for it. It looks like only a fraction of people who want in get in

    trading stocks, you'd need probably around at least £5k first to get started. There are low barriers to entry [you just need a broker and a trading platform] ...but then again it's not exactly easy to become competent/skilled in trading stocks, but the potential for high earnings is definately there


    same with forex, although you need less capital to start than stocks. It's not easy to become competent to the point you can do it for a living, but the potential for making big money is definitely there....
    Lol was being sarcastic bro.
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    Interesting, I thought it would be less.
 
 
 

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