Girlfriend is 31, a doc, just put £81k on her tax return for last year, so pay is not poor in any way. Her nursing assistants in the op theatre are typically on +/- 40k. Thing about medicine is it's typically shifts and that's it till the next day (yes, i know about the exans). Other jobs with similar pay typically have the hours spilling much into personal time with no such thing as overtime.
I work as a Principal Service Management Specialist for the NHS in Swansea/Cardiff and pull in £32K before expenses. (Age 44, been in role for 4 yrs delivering ITIL best practice across national NHS Wales IT services) |Consider that decent bread for Swansea as most other people I know work in call centres down here for peanuts!
31? Assuming she has done the traditional route, she is 8 years post leaving med school, so a good 6 years in to speciality training - so by reckoning she is an SpR? http://www.hospitaldr.co.uk/features/hospital-doctors-pay-scales-for-20092010 Her base SpR salary will be around £40K, depending where she works (London weighting?), so somehow she is pulling in another £41K in additional payments, which I would say is far in excess of what most doctors manage. Typical overtime usually adds around 50% on, which is pretty much working all the unsocial hours and not ever going home. Essentially, how is she taking home £81K without being a consultant? I'm intrigued simply because I might want to do the same. I would also really love to see how a theatre assistant is on £40K a year. Nursing roles are AfC bands 5-6, with bands 7 and above being reserved for senior nursing management staff. Yet £40K needs you to be on Band 8, or the very peak of Band 7 after a long NHS career. http://www.hospitaldr.co.uk/guidance/nurses-and-nhs-managers-pay-scales-for-20122013
My best friend left uni at 21 to work in marketing in London. He's 27 like me and now has now set up a marketing consultancy with his creative partner, must earn £40-50k. So £40k at 27 isn't unreasonable. Having his own company, it's also very tax efficient! For comparison, I left uni at 23, I'm an engineer (in the 'chartered' sense, rather than technician sense) in a global engineering company. I entered on a graduate scheme and now earn £35k at 27. Last year I got ~£43k including bonuses and extra money for being on-call to support tests 24hrs. I'm at supervisor level, with a team of a few other engineers to look after. Another factor in pay is the company culture. Unfortunately engineering and manufacturing in my company are dominated by the Union, and there's a lot of "old timers". This leads to an environment where historic agreements tend to lead to good job security, but the reward is poor. There is a grading structure which pay is directly linked to, and you can only be promoted through it so quick. It's not linked to you're role either, so stepping up to be team lead I didn't get any extra pay. The new role will help me get experience towards applying for the next level but it's still frustrating. There are performance reviews but the union won't agree to them being linked to the reward, everyone gets a flat rate annual raise negotiated by the union. This changes one you get into management, but it's a long slog. My wife, by comparison, joined the company on the same graduate intake as me, but did a management fast-track programme in HR. She earns £50K now at 29. I wish I had done the equivalent scheme in engineering, but when I wasn't as confident when I got out of university and felt more comfortable in the 'professional' route rather than the management 'route'. Like people have said, money is all relative, it depends what you get for it. My friend gets much less for his money in London than we do in the midlands, though he get's all the extra culture of being in london.
Damn, do they not have any perks?? I'm in retail management myself and am on £25k (still awaiting my first pay review). I'm on the bottom rung at the moment though, our store manager is on £120k plus car, travel and living allowances...
I know I'm late but btw, what do you do exactly to earn that much in IT? Banking sector by any chance?
Yeah, senior reg. 40k base + London + top (1a?) banding (anaethetics/intensive care so she always does 48hrs average) = 61k for her core job, plus the rest from locums / private. The private place pays £55/hr for a 24 hour shift, plus additional hours 'holiday' pay so £1.5k for 24 hours work where most of the day is normally spent sleeping / doing study. Before anyone comments, this is private work for paying customers, not nhs rates which are much lower (yes, that pisses me off too, but i can't complain that much ) ODP is on 40k, top of his band. She works 13 hour shifts (plus an hours travel each way), but as a result often has whole weeks off or runs of 5-6 days off at a time, so very tired in blocks but lots of recovery time. If you're interested I'd say go for it. She absolutely loves what she does (even the shitty people dying days), not having to worry how to pay the bills is a bonus. She does expect to take a pay cut in the early consultant days as the private stuff will dry up initially.
Consulatancy actually (my role is internal though). I've got friends on well over £100k in the same organisation in senior internal IT roles. Started in practice then transferred across - I agree it's hard to build upto that level organically.
Thanks muchly for the additional detail - I was expecting locum to add a chunk on, but not that much! I'm still deciding my career path and which branch of medicine I want to spend the rest of my life doing - much of it really comes down to personal interest, rather than cash.
Ah, I can work out pretty close then... Well, I promised... Made a hair over £90k pre-tax last year as a first year reinsurance broker. Base salary was £30k, with the rest made on a 1% commission. Was hideously over-pressured, very unhappy, and really working in that environment made me quite a horrible person I think. I only have to look back at some of my posts on here, full of boasts, arrogance, and needlessly scathing comments to see that. This year, working as a software development consultant I'll barely scrape £36k. But I'm happier, and honestly, ones overheads adapt with earnings... so while I'm living humbly now, I still have no money at the end of each month; just as I did then! (Still can't help looking down my nose at people sometimes though!) In my opinion £40k at 27 is very achievable in practically any industry (But not necessarily in any role). Work hard, reach for what you want, you'll get there. (Sorry, I'm 24)
Ahh... Money, that wonderful thing that makes your life bit easier sometimes. Never had annual salary while working, as I've been working only part time and the longest "career" I had was bit short of half a year. My best monthly pay before taxes was bit over 3.2k€. This was pretty good when taking in consideration that I was working as a security guard (three out of my four jobs I've had has been on security). You can just imagine how many hours, weekends and nights I've been working then. Currently studying IT, so I hope I don't have to work so many hours to get 3.2k€, preferably after taxes, when I have some qualifications and experience under my belt first. Also I do little bit semi-active trading with portion of my savings, but I'm mostly having pretty small profits/losses annually. Maybe someday I learn to be a little bit more profitable. I enjoy trading rather much even when I don't make much money or I have to take losses. There is just something special on the moment when you try to keep your greed in control and not let your losses run too far, and not forcing yourself to put a position if there is nothing worth trading. It is so challenging in a way, but also it can be very rewarding and sometimes very dissapointing. (Yes, I am talking about stock trading). Sure I would love to work as a professional trader, but I just don't believe that it is so easy to get into that business. Sure I could go read economics/finance to the university, but I'm sure that it will not take me too far, you just can't become a successful trader by going to school... Right? So I rather try to get a decent job which I can enjoy and trade my own money and learn from mistakes. Maybe someday I can trade so well that it's my full-time job. I hope... Dreams aside, what kind of salary I should expect with Cisco certifications, does anyone have any experience? If I have Bachelor's Degree on IT (university of applied sciences) and CCNA under my belt? Just wondering because we are going trough the CCNA (routing and switching) course at uni. Also it has been pretty interesting so far so it could be something I could enjoy if I can't find any good job from datacenter enviroment. What I like to believe in life "Do what you enjoy, and the money follows".
Why would you advise that? So many alternative finance people are against it because it is being propped up again towards a bubble.
Just from experience really. I got on the property ladder 7 years ago at the age of 23. Ive been paying slightly less than renting the same sort of property would cost in my area and ive chipped away 20-25k odd off my mortgage. Thats money in my pocket when I leave. Im no financial expert but thats a result in my book. Which is why i suggested looking at if the op could save or pay off a mortgage as an alternative to thinking of things like....how much do I earn.
