Young High Earners

Dark_Jester

Hi Leeds_Lad

I have read the entire thread with great interest. Unlike some posters I don’t think your gloating. I'm like you but you have achieved a bit more than me in terms of salary, but that could be largely due to you being in the financial sector and me being in the scientific sector.

I have a PhD and earn around £30k, with benefits like company car and expenses (travel, mobile, petrol and internet). My wife is a Barrister and although she earned less then my at the start, since starting her new job she is raking it in. However, her monthly income varied from £3k to 8k a month.

I have always dreamed of being a Scientist and I guess I am living out my dream. However, it doesn’t stop me being jealous of people within the financial sector like yourself and my wife and the amount of money that you guys earn. I just find anything financial boring (guess it explains why Im on this forum seeking advice) but I wish I didn’t since I could be earning a lot more working as an Investment banker, Accountant, Lawyer ect

Guess I should be grateful that I have a job at the end of the day. Money may not be everything but it does make a significant difference to the quality of one’s life.

Quiet_One

mitchaa wrote: »

A good thread and I've always used my age as a measure of how well I am doing aswell.

At 17 I was earning £13k pa
At 18 I was earning £14k pa
At 19 I was earning £20k pa
At 20 I was earning £22k pa
At 21 i was earning £24k pa
At 22 I was earning £30k pa

Then I became licensed and my aim was to try and achieve a 2x age earning pattern.

At 23 I was earning £40k (FY 06/07)
At 24 I was earning £46k (FY 07/08)
At 25 I was earning £52k (FY 08/09)
At 26 I was earning £55k (FY 09/10)

I am 27 now, and suspect FY 10/11 will be around £58k

I believe I am doing fairly well in terms of salary earned but there are a lot of other 27yr olds out there earning far in excess of what I do. I have never been to university and I live in Aberdeen. (Aircraft Engineer, Oil & Gas)

In terms of average salary, I believe you are around average at £35k for a male in FT work according to ONS data.

I disagree with what you say about age and how much your earning to me is irrelevant. I would much rather and do have a 'life' outside work and working 70 hour weeks is not normal and will after a while bring you down to bad health and stress - marriage break up neglecting your kids etc and even possibly lead to an early death! I really think your going about this the wrong way money and age is not important. In fact I think its rather shallow, theres nothing wrong with wanting to progress and be the best at what you do but lining up you age to certain pay groups when your not even through your 20's? I find rather sad and feel sorry for you.

donquine

Quiet_One wrote: »

I disagree with what you say about age and how much your earning to me is irrelevant. I would much rather and do have a 'life' outside work and working 70 hour weeks is not normal and will after a while bring you down to bad health and stress - marriage break up neglecting your kids etc and even possibly lead to an early death! I really think your going about this the wrong way money and age is not important. In fact I think its rather shallow, theres nothing wrong with wanting to progress and be the best at what you do but lining up you age to certain pay groups when your not even through your 20's? I find rather sad and feel sorry for you.

I think mitchaa is ambitious and that's a quality that should be admired, not pitied. No, I don't earn as much as him - but you know what? One day I'd like to earn more. I don't see what's wrong with that.

mitchaa

Quiet_One wrote: »

I disagree with what you say about age and how much your earning to me is irrelevant. I would much rather and do have a 'life' outside work and working 70 hour weeks is not normal and will after a while bring you down to bad health and stress - marriage break up neglecting your kids etc and even possibly lead to an early death! I really think your going about this the wrong way money and age is not important. In fact I think its rather shallow, theres nothing wrong with wanting to progress and be the best at what you do but lining up you age to certain pay groups when your not even through your 20's? I find rather sad and feel sorry for you.

Who mentioned 70hr weeks? I work 35hr weeks in an engineering environment. The only stress I have in my job is remembering if I have torque loaded a nut properly. You have to take your time fixing aircraft as flight safety is paramount and no undue stress is ever placed on you for that reason.

As to family/social life, I am a very happily married man with a little boy of 2 running around and causing havoc. He keeps me busy, fills my day and I wouldn't be without him. My wife is pregnant with another. Social life is great, I have a good group of friends who I go out with every couple of weeks. I live in a nice big countryside home away from city life stress and couldn't be happier.

I am not overweight, I am actively fit and cannot remember the last time I was stressed out. I'm not quite sure why you have stereotyped me with working every hour god sends and having a stressful work life? That couldn't be further from the truth.

I set myself targets, there is nothing wrong with being ambitious and I will not stop until my ar*e is sat in the directors seat. Ambition is a good quality to have in my opinion and it has certainly done me no harm. I'm not quite sure where you are coming from with your rude post. The 2 x age/salary was my target, my aim, my goal if you like. I have worked hard to get in the position I am in and not quite sure why I am under your criticism?

Money makes the world go round and my 2 boys and wife will have the very best that I can provide them with. I am not rich, nor wealthy but my salary does provide me with a good quality of life. There are plenty of people earning far more than what I do, I really couldn't give a monkeys.

I am happy as are my wife and little 1 and that's all that matters.

stphnstevey

My wife earns about £10k, but LOVES here job - she works in an animal rescue centre.

Sometimes salary isn't everything and a real small amount of jobs give something other than salary as a reward.

However she is lucky that my salary means collectively we each earn above the average salary mentioned below, so she has the best of both worlds really

bristol_pilot

Interesting that even the highest-earning of the 'high earners' on here has an income considerably lower than someone who does no paid work at all but produces 5 kids and lives off the state (housing benefit alone can be up to £57k net). Think 'outside the box', leeds_lad.

woody01

leeds_lad wrote: »

Hi - being the ambitious type, I always like to measure myself against how other people in similar circumstance do for themselves.

I'd be interested to hear if there's anyone out there who has managed to bag a real high paying job at a young age?

I'm 27 and on £35k - probably middle of the road - there anyone who is earning lots more and younger/same age? How did you do it?

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I was toucking £46K when i was 30.
I am now 37 and heading for considerably more.

Sorry, but your pay is nothing special.

Blackpool_Saver

I didn't read all the replies but I was thinking it's about the same as some of the benefit people isn't it?

OP, we had a thread about how people on benefits are getting the equivalent and more of your salary...........

mitchaa

woody01 wrote: »

I was toucking £46K when i was 30.
I am now 37 and heading for considerably more.

Sorry, but your pay is nothing special.

Woody, I dont think he ever did to be fair.

He earns enough to be in the countries top 20% so he isn't doing too badly At 27 and still relatively young, £35k is not a bad salary.

I suppose it depends where you live. £35k in Newcastle for example will give you a good quality of life, £35k in central London will most certainly not.

MsDee

bristol_pilot wrote: »

Interesting that even the highest-earning of the 'high earners' on here has an income considerably lower than someone who does no paid work at all but produces 5 kids and lives off the state (housing benefit alone can be up to £57k net). Think 'outside the box', leeds_lad.

Very true, but at least the 'high earners' EARN their money.