What kind of salary should I be applying for realistically? Watch

alexs2602
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Maths with Stats graduate from Loughborough - First.

I feel like I might be being a little optimistic. The average is supposed to be £26k for my course and uni, I believe. I've been looking for £25k+ though, because at least with the big companies that's common. I wouldn't say it's unusual to see 28, 30, and if I'm honest that's where I'm hoping to start. I'm reluctant to apply to £25k.
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Palmyra
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You don't apply for salaries. You apply for jobs.
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SarcAndSpark
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The salary is, in many ways, neither here nor there. Salaries will vary a lot geographically, and some companies will offer slightly lower salaries with better perks etc, or may offer better career progression.

The questions to ask are:

-Do you have the experience required for the role?
-Do you meet the personal specification for the role?
-Does the role fit into your long term career plans?
-Does the role offer any benefits that might be worth taking a slightly lower starting salary?

Are you currently applying for these roles? Are you getting interviews?
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Hammad(214508)
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If you just got graduates you should be looking for getting experience rather than money , it will eventually come to you. Get a job, get experienced and then progress to other jobs after a year or so
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alexs2602
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(Original post by SarcAndSpark)
The salary is, in many ways, neither here nor there. Salaries will vary a lot geographically, and some companies will offer slightly lower salaries with better perks etc, or may offer better career progression.

The questions to ask are:

-Do you have the experience required for the role?
-Do you meet the personal specification for the role?
-Does the role fit into your long term career plans?
-Does the role offer any benefits that might be worth taking a slightly lower starting salary?

Are you currently applying for these roles? Are you getting interviews?
Early days yet. Been applying two weeks - 6 or so applications that I've spent a lot of time on. I've had my CV reviewed by two people in HR in London. That's fine, one said "great first attempt at a graduate CV" in his words and that was before I updated it significantly. I don't think I'll find out whether I'm making the right approach just yet because I haven't been doing it long.

It's the lower limit that's problematic for me. Person spec should be good. Role fits into long term career plans. Main benefits that would be worth taking lower salary for would be good training opportunities basically, right? Most of the rest is ********.
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nutz99
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That average takes into account the inflated salaries in London. In practice most people will earn less than that in their first year.

My niece who graduated with a first from an integrated MMath degree struggled to get a job and ended up as an Analyst in a small firm earning about £21k. Prospects were poor there and advice and assistance was non existent. She was pretty much thrown into the deep end.

Six months on and she applied for a job at an international company. With the combination of the degree and the experience, she got that job. Earning about £28k with great prospects and a good training package.

Looking for £25k may be optimistic. Just get some experience under your belt then you will have a much better chance and choice of jobs you can apply for.

(Original post by alexs2602)
Maths with Stats graduate from Loughborough - First.

I feel like I might be being a little optimistic. The average is supposed to be £26k for my course and uni, I believe. I've been looking for £25k+ though, because at least with the big companies that's common. I wouldn't say it's unusual to see 28, 30, and if I'm honest that's where I'm hoping to start. I'm reluctant to apply to £25k.
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SarcAndSpark
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(Original post by alexs2602)
Early days yet. Been applying two weeks - 6 or so applications that I've spent a lot of time on. I've had my CV reviewed by two people in HR in London. That's fine, one said "great first attempt at a graduate CV" in his words and that was before I updated it significantly. I don't think I'll find out whether I'm making the right approach just yet because I haven't been doing it long.

It's the lower limit that's problematic for me. Person spec should be good. Role fits into long term career plans. Main benefits that would be worth taking lower salary for would be good training opportunities basically, right? Most of the rest is ********.
It depends what works for you- some people might see, for example, a company car as worth taking a lower salary for (although maybe not in London).

Within the first month or so, you should have some idea as to how your applications are working out, and then you'll have some idea as to whether you're pitching things correctly or not.

It sounds like you value salary over pretty much anything else, so you may as well spend a bit of time applying for roles with a salary you want, but if you haven't heard anything back within 4-6 weeks, you might want to start re-thinking things.

It is worth remembering that getting a job can be a bit of a numbers game- if you're only managing to send out 3 applications a week, and you don't have much else on, you're probably spending a bit too long on each application.

A lot also depends on how badly you need to find a job. If you've got some savings, and you're able to live at home for a bit, then you're obviously under less pressure than a lot of people. However, do be aware that having a big-ish gap on your CV will make you less desirable, and that Brexit is likely to cause a lot of uncertainty in the autumn and may mean less jobs are available.
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alexs2602
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(Original post by Hammad(214508))
If you just got graduates you should be looking for getting experience rather than money , it will eventually come to you. Get a job, get experienced and then progress to other jobs after a year or so
If I wanted money I'd go for more and wouldn't restrict myself to my field. I'm looking for experience but I don't want to sell myself short or restrict myself too much in terms of options either.
(Original post by nutz99)
That average takes into account the inflated salaries in London. In practice most people will earn less than that in their first year.

My niece who graduated with a first from an integrated MMath degree struggled to get a job and ended up as an Analyst in a small firm earning about £21k. Prospects were poor there and advice and assistance was non existent. She was pretty much thrown into the deep end.

Six months on and she applied for a job at an international company. With the combination of the degree and the experience, she got that job. Earning about £28k with great prospects and a good training package.

Looking for £25k may be optimistic. Just get some experience under your belt then you will have a much better chance and choice of jobs you can apply for.
I suppose it depends on the restrictions - I'm still a bit stuck on the whole graduate job/scheme thing where I'd be locked in for 2 - 3 years. If I go entry level then as you say it's easier to get in and out when I find something better.
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alexs2602
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(Original post by SarcAndSpark)
It depends what works for you- some people might see, for example, a company car as worth taking a lower salary for (although maybe not in London).

Within the first month or so, you should have some idea as to how your applications are working out, and then you'll have some idea as to whether you're pitching things correctly or not.

It sounds like you value salary over pretty much anything else, so you may as well spend a bit of time applying for roles with a salary you want, but if you haven't heard anything back within 4-6 weeks, you might want to start re-thinking things.

It is worth remembering that getting a job can be a bit of a numbers game- if you're only managing to send out 3 applications a week, and you don't have much else on, you're probably spending a bit too long on each application.

A lot also depends on how badly you need to find a job. If you've got some savings, and you're able to live at home for a bit, then you're obviously under less pressure than a lot of people. However, do be aware that having a big-ish gap on your CV will make you less desirable, and that Brexit is likely to cause a lot of uncertainty in the autumn and may mean less jobs are available.
Part of what I'm struggling with currently is understanding the vague language of job descriptions. "Experience in X" but no indication of how many years. Like, just tell me so I can stop wasting my time. I don't want to lose time I could be doing something else with.

I guess what I'm saying is I'm concerned I'm overvaluing the salary. Perhaps I should better read the benefits packages. I couldn't care less about this kind of stuff

Fresh fruit selection delivered 3 times a week, Free monthly breakfasts, Team Lunches
Beer fridge & Selected wines + other beverages
Weekly Football, Pool table, ping pong tournaments, poker nights, Office events, social gatherings, Fun Games room
Birthday Cakes/Cards
Summer & Christmas parties, Roof terrace area
Training is where it's at. Days off are pretty standard. Flexible work hours wouldn't go amiss. Free laptop/mobile/tablet wouldn't be bad but not a deal maker.

I mean numbers help, but quality game too. Crap apps will go straight in the bin. I need to perfect writing cover letters - understand what recruiters are looking for, where to find that info so I can knock it out in an hour. But practice will help there.

Fair point. I do wanna move out. Low-er salary then move as soon as the job I actually want to spend a few years at comes along.
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ltsmith
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what career?
what role?
what location?
what type of company? startup? SME? big corp?
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potatohouse
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I would say ignore the salary. If u look at the actual sample size for those stats (assuming u got them from unisyats) it’s Usually only about 40 people. I wouldnt rely on them, apply for lower salary Jobs, it doesnt make u any less worth. You can Continue to apply for higher salary Jobs even after getting one, 20k aint the end of the world
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alexs2602
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(Original post by potatohouse)
I would say ignore the salary. If u look at the actual sample size for those stats (assuming u got them from unisyats) it’s Usually only about 40 people. I wouldnt rely on them, apply for lower salary Jobs, it doesnt make u any less worth. You can Continue to apply for higher salary Jobs even after getting one, 20k aint the end of the world
Jesus, yeah. Sample size was tiny. Thanks for the heads up. Didn't see that. I'll have to reassess; I still think I'm worth more than £18k, for example - that's basically minimum wage.
(Original post by ltsmith)
what career?
what role?
what location?
what type of company? startup? SME? big corp?
Data Analysis. Decent sized city. Not sure about type.
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ltsmith
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(Original post by alexs2602)
Jesus, yeah. Sample size was tiny. Thanks for the heads up. Didn't see that. I'll have to reassess; I still think I'm worth more than £18k, for example - that's basically minimum wage.

Data Analysis. Decent sized city. Not sure about type.
22k to 25k
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mnot
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(Original post by alexs2602)
Maths with Stats graduate from Loughborough - First.

I feel like I might be being a little optimistic. The average is supposed to be £26k for my course and uni, I believe. I've been looking for £25k+ though, because at least with the big companies that's common. I wouldn't say it's unusual to see 28, 30, and if I'm honest that's where I'm hoping to start. I'm reluctant to apply to £25k.
I think looking at the number probably ent the right way to look at your grad jobs.

What/where do you want to be in 5,10,15 years...

Do you want to work in flexible, fun easy going family business where opportunities are more limited or do you want to be sat in board room in 15 years, in which case a job with lots of exit opportunities or upwards/management mobility. Once you pick what you want, the numbers will figure themselves out. If u want cash then go high finance or consulting
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Princepieman
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market rate for the type of company and job you're aiming for.

could be £150k, could be £60k, could be £20k, could be £35k.
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alexs2602
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(Original post by mnot)
I think looking at the number probably ent the right way to look at your grad jobs.

What/where do you want to be in 5,10,15 years...

Do you want to work in flexible, fun easy going family business where opportunities are more limited or do you want to be sat in board room in 15 years, in which case a job with lots of exit opportunities or upwards/management mobility. Once you pick what you want, the numbers will figure themselves out. If u want cash then go high finance or consulting
To be quite fair, I'm looking to emigrate as soon as I have enough experience (2 - 3 years probably). So experience and training should probably be my priority. That said, I'm past "student living" - I don't want to be living paycheck to paycheck - so if I give myself a £5k cushion post-tax then £23/24k+ (pre-tax) might be a good idea. £5k isn't an awful lot in the grand scheme. I'll need to pay for driving lessons next year so that'll be £1k easy.

Still figuring that one out, that's the point of the early years for me. In some ways a start up might be a good idea.
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SarcAndSpark
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(Original post by alexs2602)
Part of what I'm struggling with currently is understanding the vague language of job descriptions. "Experience in X" but no indication of how many years. Like, just tell me so I can stop wasting my time. I don't want to lose time I could be doing something else with.

I guess what I'm saying is I'm concerned I'm overvaluing the salary. Perhaps I should better read the benefits packages. I couldn't care less about this kind of stuff


Training is where it's at. Days off are pretty standard. Flexible work hours wouldn't go amiss. Free laptop/mobile/tablet wouldn't be bad but not a deal maker.

I mean numbers help, but quality game too. Crap apps will go straight in the bin. I need to perfect writing cover letters - understand what recruiters are looking for, where to find that info so I can knock it out in an hour. But practice will help there.

Fair point. I do wanna move out. Low-er salary then move as soon as the job I actually want to spend a few years at comes along.
It's up to you what you care about- some people will be into that kind of thing!

I agree that "Experience in X" is very vague, I'd guess as a minimum these companies would want at least a year's experience with X, unless it's very clearly an entry level job- but that's just my assumption.

I would say that you do have to bear in mind that employers are all looking for slightly different things, and whilst there are general standards of cover letter/application/CV that will be seen as good, sometimes you just won't seem like the right fit and that's ok- better than wasting your time starting a job that isn't right for you.

I understand not wanting to waste your time but it really is a numbers game- unless you're applying for very niche jobs where few people will meet the requirements, even the "perfect" application won't get interviews every time. Because of this, it's best not to emotionally invest too much in jobs you apply to- set yourself a cut off time for working on your application for each job, and try to aim to get X number of applications done each day/week.
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Loughborough University
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Hi alexs2602

There have been a lot of valid points to consider on the thread so far!

I would personally recommend ensuring that the job that you are applying for meets all of your needs and requirements, alongside looking for suitable progressions and CPD opportunities. With that in mind, although the salary should be considered when applying for jobs, it shouldn't be sole focus as there may be opportunities to progress through the company.

We wish you the best of luck in your search and please feel free to visit our careers website or contact a member of the team for further advice and guidance - https://www.lboro.ac.uk/services/car...and-graduates/

Becky


(Original post by alexs2602)
Maths with Stats graduate from Loughborough - First.

I feel like I might be being a little optimistic. The average is supposed to be £26k for my course and uni, I believe. I've been looking for £25k+ though, because at least with the big companies that's common. I wouldn't say it's unusual to see 28, 30, and if I'm honest that's where I'm hoping to start. I'm reluctant to apply to £25k.
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