BMA (British Medical Association) taking industrial action

lostinrates

DaddyBear wrote: »

You're kidding right. £100k is around the average wage for a lawyer, but don't let facts get in the way of your point. Just out of curiosity, if doctors have it so good, why didn't you become one?

No, it is not. The average wage for corporate solictors and some area of law barristers is high, but not the group as a whole.


I know the top paying firms wages, but not all the bonuses, in fact the first few years of the big firms ( and the tc and nq salaries for all offering tc afaik) are all free to access on line, have a look, you will find those offering the six figure salaries to nq or are not that common, and take few trainies . The highest paying tc offering firm is around 100k and takes either two or four people a year for TCs (cannot remember which). Increments are large, but not tht large.

chewmylegoff

DaddyBear wrote: »

You're kidding right. £100k is around the average wage for a lawyer, but don't let facts get in the way of your point. Just out of curiosity, if doctors have it so good, why didn't you become one?

Because I'm an accountant...

How is £100k the "average wage" for a lawyer? Any evidence to back that up?

chewmylegoff

DaddyBear wrote: »

totally missing the point.
If all new proposals are passed, public sector workers earning over £50k per year will contribute the following into their pensions
doctors 14.5%
civil servants 8.5%
armed forces f@*k all.
Hardly fair

Isn't the 14.5% rate for doctors earning more than £110kpa?

lostinrates

the_flying_pig wrote: »

30 yr old solicitors on "at least 100k+"? only likely at magic circle [i.e. 5 companies] firms only.

accountants, yeah, at big 4, say about 1 in every 50 or so trainees who starts out is partner material. for that 1 in 50, when they make partner, say in their early mid 30s, they'll be on a quarter mill easy, with more to come, but that's for those who get to the very top of their tree only.

the average GP is on north of £100k that's what's astonishing.

No, not magic circle, they pay less. Usually American or 'multinational' ( which usually means american).

Dh has been offered jobs by magic circle firms recently and its not so much. In fact, was offered an in house job that paid more.

michaels

There does seem to be a tendency, not just by those in the public sector, to look at the top 1% of earners and assume that is what 'everyone' is getting. A quick look at the income distribution stats will show what a small percentage of the population it is actually earning over 100k.

chewmylegoff

the_flying_pig wrote: »

30 yr old solicitors on "at least 100k+"? only likely at magic circle [i.e. 5 companies] firms only.

accountants, yeah, at big 4, say about 1 in every 50 or so trainees who starts out is partner material. for that 1 in 50, when they make partner, say in their early mid 30s, they'll be on a quarter mill easy, with more to come, but that's for those who get to the very top of their tree only.

the average GP is on north of £100k that's what's astonishing.

There are plenty of 30 year olds outside the magic circle earning £100k in London, but they are still not "average".

lostinrates

michaels wrote: »

There does seem to be a tendency, not just by those in the public sector, to look at the top 1% of earners and assume that is what 'everyone' is getting. A quick look at the income distribution stats will show what a small percentage of the population it is actually earning over 100k.

Or declaring 100k. Those employed, like solictiors and employed accountants, have less room for arranging their finances to best suit them.

the_flying_pig

lostinrates wrote: »

No, not magic circle, they pay less. Usually American or 'multinational' ( which usually means american).

Dh has been offered jobs by magic circle firms recently and its not so much. In fact, was offered an in house job that paid more.

that's a tiny niche that does exist, i agree, but by & large the big 4/magic circle are the best paying, most prestigious law & equity partners.

and at these firms it's true that you've got to be knocking on the door of equity partnership [i.e. to have outperformed your cohort of russell group graduate entrants, pulling yrs worth of 60-80 hr weeks, etc] to earn more than an average GP who's looking at a few bunions for a few days a week. if you don't make equity partner by mid-late 30s you're out. but a doctor can bumble on, working short weeks, for decades.

but if the market says a deloitte partner is worth a half mill a year or whatever then fair enough, fair enough, that's what they get. v wrong to compare publci sector employees with this. compare GPs with top notch government lawyers or whatever.

The_J

chewmylegoff wrote: »

For every solicitor in a city law firm making £100k+ there are 10 in rubbish jobs, at the cps, at the local council, working for small high street firms. There are then another 20 law grads woking as paralegals or in some other admining job consistently failing to get a training contract.

Accountants- only a tiny % become partners at large firms, or FDs etc. Salaries are lower than for law, and outside London you earn much less.

Even a rubbish solicitor is on 50-60k. Magic circle associate is 175k.

Accountants I would agree with, 100k would be a good salary for an accountant. But that's because someone who qualifies as an accountant either goes into something much more profitable (if they have people skills) or stays being an accountant (if they are squares). Then the biggest nerds get to be partners.

misskool

chewmylegoff wrote: »

There are plenty of 30 year olds outside the magic circle earning £100k in London, but they are still not "average".

How long does it take to be qualified as a GP? Or to start work as one? And more importantly, do GPs really as a whole earn £100k or do they have a range as well?

Actually, in all fairness, I wouldn't mind a GP being paid what they're worth. I would happily rate my GP so his pay would be linked to performance. After all, they do provide a service right?