Young High Earners

floss2

leedsfan wrote: »

Firstly I say well done to you on earning 35k but I also think it comes across as somewhat distasteful that you are asking on here how you can earn more than 35 k when this site is going to be used mainly by people struggling. As for you having a student loan debt, well show me someone that doesn't and as for having a 10 k loan, you earn 35k, really disposable income is not an issue for you. I think this is a bit of a self congratulating exercise for yourself because truly, since more money is your aim, you could have utilised one of many other sites, yet you choose this one.....

But this is actually the Employment Board within MSE - and one of the rules of MSE is that posters are nice to one another. Why pick on this OP because he has asked a reasonable question? TBH, if he is paying off his student loan, his salary is effectively reduced to just over £32k. Why be critical of someone who has asked how he can advance himself? I am not critical of our family member....and she earns a lot more than this OP. He has probably worked hard to get this job, just as my OH has worked hard for jobs paying over £50k in the past, but has now taken a step back to have a better quality of life.

Proc

At 21 was promoted to General Store Manager (youngest in company at time) of one of the largest mobile phone retailers. Within 5 months was running the largest store in the company on Oxford Street. Started on 33k when I first got promoted, then was £48k in Oxford Street. Consistantly picked up 10k+ bonuses. Think my lowest was around 8k.

At 22/23 got promoted to what you would call an Area Manager. Salary went up by another 20k to 68k iirc, company car, but annual bonuses paid in January. Picked up a £138,000 bonus for 2007-2008. Had half paid at start of 2008, then other half is retained until 6 months later. Took my second payment and left for another company. Stayed with other company (completely different sector) for about a year or so. Picked up some decent bonus but ultimately wanted to do my own thing. Started my own limited company last June with an old work collegue, things going phenomenally well. I'm now on a 6k salary, (yes - six), but I do most of my work from home, and we have 18 employees now. We can pay ourselves dividends but we're keeping these low, and re-investing most of the cash into expanding and opening new sites. We've got 8 "sites" already.

So yes, massive pay-cut. But, it doesn't really matter because I know that in 3 years time we can stop growing as much as we are and just take home silly money.

laurenjs88

Blimey, I dont earn a "high" wage as such. I'm 21 on £16.5k+ lots of overtime & On-call shifts as an "line manager" within my company, However i'm the youngest in that job role in our branch so am earning the same as women in their late 30's - mid 40's (there's a huge age gap!) I earn more than most of my friends, Although alot are still at uni, so I expect to be overtaken quite soon!

My OH is 25 and earns £18k as a junior web dev, Should be getting a payrise in a few months but again for the area we live its a fairly good wage..

I don't imagine he'll be on £35k at 27 but hopefully by the time he is 30ish!

Thats a fab wage Leeds_lad for someone so young, One of my best male friends runs his own LTD and earns over £50k he is 24 now and another lad I know who is 29 earns near on £40-£50k in aerospace engineering stuff... It really depends on how much of the year he is away in other countries...

If you've worked for it I dont see why your getting so much stick to be fair, He's only 27, Us young-uns are quite money orientated still, Probably why so many of us end up in debt!

WeakHeart

Couple of guys I worked with had very clear goals for what they wanted to have achieved by 30 (e.g. company director of branded company by 30). They told me that they had very clear career strategies and to keep progressing both aimed to be promoted or side step (for example from HR to sales management) every two and a half to three years and this they did. One is now MD for a big brand and the other on the board for another big brand.

bring1t

No idea why lots of people seem to have taken offence at this post :think:

But to help the OP, there is this link where a smiliar question was asked. Interesting to see though that posters just got on with it and are open with their jobs and salaries without the tirade that the OP has recieved!!

http://forums.moneysavingexpert.com/showthread.html?t=1716055&highlight=how+much+do+you+earn&page=37

Chinkle

I fail to see the relevance of the post. The only way the OP can realistically compare himself is with contemporaries in the same industry as him, and salary shouldn't be the only indicator - position, responsibilities etc say more about "how well you have done". So I can see why others think the OP is just ego-massaging.

There's no point comparing with anyone else, there are 27 year old paupers living on the street and millionaires on the rich list under 20 and you can't turn the clock back and take a different career path.

I say if you're in a job that you love then you are the richest of all!!!

jimboban

Well, to add my tuppence worth -

I chose to leave school at 17 - as a straight A's student, turning down an offer from Cambridge in the process because I made the decision that I wanted to "work" - having lived on the bread line for my entire life to that point.

I have just turned 26 - have been in my current line of work for 5 years now, and for the last 3 years have earnt comfortably in excess of 100k.

As many posters have noted, money is not everything - whilst I enjoy the field that I'm in (Telecoms to apply a loose descriptor), I work 13 hour days, 5 days a week - rarely take holiday - and rarely if ever away from the delights of blackberry email.

I am glad that the fruits of my labour enable me not to have to worry about surviving day to day - but having known genuine poverty in my early years, hopefully humble enough to recognise that I am very lucky.

I cannot wait to have made enough to do something else - far far away - with far less pressures and more sleep!

JB

Welshwoofs

leeds_lad wrote: »

An extreme example there. I was more after examples such as do people in HR/marketing/Sales/finance etc earn more/less than other industries. Or do people who've done a PhD get more, or could I have people reporting in to me by now and earn more.

At your age I was working as an editor in a dot com and earning the same amount as you per year, plus bi-annual bonuses which generally came in around £10-14k. Obviously private health/pension. However I did often working 70-80hr weeks chasing those bonuses and ended up chronically ill. My partner at the time was 23 and he was earning £80k as a systems architect, again with bonuses.

On the other end of the scale I know a 26yr old with a PhD who's earning approx £15k in retail.

At the end of the day, it's the quality of life that counts, not how much you earn. There's certainly no point killing yourself for money...you can only do it for so long and then something gives...generally your physical or mental health.

Morgan_Ree

Left school at 16 and worked as a cleaner for 3 years earning about £9000 a year
Shocking money but suprisingly enough I loved the job!
Ok the cleaning part I wasn't a huge fan of but it was the people I worked with that I enjoyed. I honestly loved going in everyday
At 19 I got a 'proper job' in an office. That was about £14000 a year. Hated every minute of it
Got some temp work in a bank, hated that, fell pregnant, was on maternity leave for 7 months then found a job with the police
P/T earnings were about £10k a year. Loved that job and still do a couple of shifts a month

Then decided to go to uni and train to be a nurse
When I'm qualified I'll be starting on about £20k a year

Hardly mega bucks for me!

Is there a young low earners thread somewhere?

jdturk

jimboban wrote: »

Well, to add my tuppence worth -

I chose to leave school at 17 - as a straight A's student, turning down an offer from Cambridge in the process because I made the decision that I wanted to "work" - having lived on the bread line for my entire life to that point.

I have just turned 26 - have been in my current line of work for 5 years now, and for the last 3 years have earnt comfortably in excess of 100k.

As many posters have noted, money is not everything - whilst I enjoy the field that I'm in (Telecoms to apply a loose descriptor), I work 13 hour days, 5 days a week - rarely take holiday - and rarely if ever away from the delights of blackberry email.

I am glad that the fruits of my labour enable me not to have to worry about surviving day to day - but having known genuine poverty in my early years, hopefully humble enough to recognise that I am very lucky.

I cannot wait to have made enough to do something else - far far away - with far less pressures and more sleep!

JB

The question is have you put a figure on this or are you just going year by year, if its the latter its easy to get into the rut