ITV prog tonight on pensions and benefits

atush

HappyMJ wrote: »

£800 per month. How would I live today though?

Well my 25 year old is paying that much into his pension (incl employers contribution).

So it is certainly doable.

gadgetmind

Average graduate salaries here.

http://www.savethestudent.org/student-jobs/whats-the-expected-salary-for-your-degree.html

Of course, an average is an average, and someone with a so so degree from a former poly will command less than someone with a 1st from Russell Group.

Mind you, even a £20k salary up here would let someone have a fair crack at a modest house in a slightly iffy area. Or as they say in London, a town house in an up and coming area.

hyubh

gadgetmind wrote: »

Fairly typical for a good degree (1st or 2.1) in Computer Science or Electronic Engineering.

Probably double what you'd get for a "burger flipping" degree such as sociology.

Did Anthony Giddens cut you up this morning or something…? I’m pretty sure the sociology graduates from Oxford, Cambridge, York, Warwick etc. generally get on fine in the job market, i.e. it’s where you got your degree from that is most important, not what subject it was in.

gadgetmind

hyubh wrote: »

where you got your degree from that is most important, not what subject it was in.

Yes, right breeding, right university, actual ability and skillset negotiable.

Those who didn't "choose their womb with care" need to make better decisions from being multi-cellular onward.

mania112

atush wrote: »

Well my 25 year old is paying that much into his pension (incl employers contribution).

So it is certainly doable.

Interesting when you think about it.

Average salary is £26,000 and the government's prescribed pension contribution figure is 8% once the AE phasing has finished in 2019.

This means on average the monthly contribution to a pension is going to be £173 (that's removing the qualifying earnings band, which would actually make it less!).

You have to go so far beyond 'average' to making a meaningful pension in retirement. The lower income people are understandably dismayed.

somethingcorporate

gadgetmind wrote: »

Average graduate salaries here.

http://www.savethestudent.org/student-jobs/whats-the-expected-salary-for-your-degree.html

Of course, an average is an average, and someone with a so so degree from a former poly will command less than someone with a 1st from Russell Group.

Mind you, even a £20k salary up here would let someone have a fair crack at a modest house in a slightly iffy area. Or as they say in London, a town house in an up and coming area.

What is somewhat depressing is those salaries have hardly moved since I and my wife graduated back in 2007. I started in professional services on £26.5k and my wife in law on £36k. Both for top graduate firms and neither of which pay much more in 2016.

hugheskevi

What is somewhat depressing is those salaries have hardly moved since I and my wife graduated back in 2007. I started in professional services on £26.5k and my wife in law on £36k. Both for top graduate firms and neither of which pay much more in 2016.

I started as an Economics graduate back in 2000...salary was £22,180 and the average in the table in the link is £23,604 - an annual growth rate of 0.4%.

missbiggles1

gadgetmind wrote: »

Yes, right breeding, right university, actual ability and skillset negotiable.

Those who didn't "choose their womb with care" need to make better decisions from being multi-cellular onward.

I don't think anybody's ever suggested that York and Warwick are particularly elite.

gadgetmind

York is very good for Computer Science and we take a lot of good graduates from there.

atush

somethingcorporate wrote: »

What is somewhat depressing is those salaries have hardly moved since I and my wife graduated back in 2007. I started in professional services on £26.5k and my wife in law on £36k. Both for top graduate firms and neither of which pay much more in 2016.

But if you graduate at 22, then qualify as a professional (such as law or accounting) then your salary goes right up by age 25?

Well that is how it happened with my son anyway. And his younger brother who has only just graduated and is in his first year of work at just age 21 (summer baby so a year younger than many graduates).

Being male, and having survived to their 20's and non smokers, they have a pretty high LE so I suspect they may have to work longer than their parents. But I assume they will be able to if they have to.