Which professions do you think are overworked/underpaid? Similarly which are well paid?

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  • theoretica
    theoretica Posts: 12,256
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    redlfc wrote: »
    Prior to consultant the max basic salary is 47k as senior registrar!


    I think one difference is that you keep quoting the basic salary, but comparing it to other job's total earnings. As you acknowledge, there is scope to earn more - how many doctors do earn only the basic salary and nothing more? Secondly, in all professions not everyone reaches the highest salaries - the senior registrar salary is part way up the salary scale for a doctor. All other careers have many people who never earn the top salaries - don't compare the highest fliers in one career with an average or basic in another.



    I suspect that you are very influenced in your perception of your earnings by your current friends and environment. Move out of London and you will instantly feel much richer by comparison to the people around you.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • redlfc
    redlfc Posts: 101 Forumite
    theoretica wrote: »
    I think one difference is that you keep quoting the basic salary, but comparing it to other job's total earnings. As you acknowledge, there is scope to earn more - how many doctors do earn only the basic salary and nothing more? Secondly, in all professions not everyone reaches the highest salaries - the senior registrar salary is part way up the salary scale for a doctor. All other careers have many people who never earn the top salaries - don't compare the highest fliers in one career with an average or basic in another.



    I suspect that you are very influenced in your perception of your earnings by your current friends and environment. Move out of London and you will instantly feel much richer by comparison to the people around you.

    the reason Im quoting the basic salary is as a fair way of comparison - obviously more is earnt if you include nights/weekends/evening on calls - but then other professions dont have to do this so how can i include it. Im not saying other professions start at 9 and leave at 5 on the dot of course not - neither do I when im meant to finish at 5. Everyone will always have to work more than they are contracted to in reality to get the job done

    I dont think its fair to use gross salary including weekend work if others dont have to work on a weekend ..
    Your second point regarding comparing high fliers in other careers to "basic" doctors in medicine - again its a direct comparison based on time - to get to senior registrar level takes a minimum of 17 years from starting med school as I illustrated - I think its fair to compare since youll be atleast 35 by this point and thats if you started med school at 18 and progressed every single year without fail

    you are right though i am influenced by friends/London
  • redlfc
    redlfc Posts: 101 Forumite
    Pennywise wrote: »
    No, around £100-£120k is perfectly do-able for experienced partner GPs and NHS dentists working full time. The last firm I worked for had a lot of doctor/dentist clients and I still do a few now I have my own practice. One of the biggest challenges at the moment is keeping their total incomes under the £100k threshold to avoid the penal marginal tax rate of 62% and avoiding their NHS superannuation pension pots breaching the lifetime threshold, hence why so many only work 3/4 day weeks.

    thanks for that! I didnt realise this as speaking to GPs/Consultants I know ive never come across anyone above 100k aside from the private orthopaedic surgeons. None of my relatives who are GPs earn over 80k
  • redlfc
    redlfc Posts: 101 Forumite
    cardsguy wrote: »
    I work for a large-ish tech company doing a mixture of software development and infrastructure work - and everything else on the side to ensure all is running smoothly. It’s pretty high pressure and I never work only 40 hours - while office hours are not that long you would usually find yourself working out of hours and on weekends (how many, I’m not sure as I don’t keep track). On the upside there is no bureaucracy, no dress code (think shorts and tshirt in summer, which is both funny and awkward when most of the City is wearing a suit and tie), business class travel and very good comp. Definitely a big part of it is going above and beyond, innovating, being passionate and changing the status quo.

    This notwithstanding, a recent CompSci grad (22-23 years old) with some internship experience working for a FAANG (Facebook, Google et al) in London will definitely get at least £60-70k basic and something like $100-120k in stock RSU vesting over 4 years to start with - and even more if they went to grad school or masters, or are specialized in AI or ML. Fair when comparing to being a doctor and saving lives? Probably not, but this is the current job market and where the focus is right now.

    CompSci must really be in at the moment - some of my friends who I went to university with all moved to California after creating successful apps and are making a killing out there ! Its a great career to be in with this technology centred world we are living in and I think the prospects will only get better
  • redlfc
    redlfc Posts: 101 Forumite
    FBaby wrote: »
    I am friends with a number of consults ts and GPSs all in their late 40s/50s and all earn just under or above £100k.

    They do indeed private work, but they do at the SPIRE /BUPA/Nuffield companies in the area. The also do nhs work there. The GP I know earn this too although both work PT now. Another has now decided to become a Locum GP and earns over £100k. She works weekends though at a walk in centre.

    *Also people who are on 35k jobs at 22 are very unlikely to earn 60k at 60 - in reality it will be 6 figures by 30s*
    I don't think that's true. It very much depends on what they aspire to. Finance graduates within the NHS for instance can start at Band 7 and earn £35k in London but only a few will make it to band 8C and earn over £60k even in their 50s.

    In the end, whatever the profession, you make it what you want. Many doctors are happy with a £70k job, especially if marrying another professional. I think the issue is that you are in thos years where you're not really a student any longer but not recognised as valuable employee either so it feels a bit of a kick in the teeth at the moment.

    Thank you - I agree I think life as a junior doc in England can be very tough/demoralising - currently working in A+E and im constantly going from nights-days - working 1 in 2 weekends and its very difficult to enjoy life when you feel like youre practically living in the hospital

    Hopefully as youve suggested things will pick up once you become more senior - though I suspect medicine in the UK will become a less and less entered career with the way things are
  • Pennywise
    Pennywise Posts: 13,468
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    redlfc wrote: »
    None of my relatives who are GPs earn over 80k

    Are they full or part time?
    Are they partners in their practices?
    Are they fully experienced i.e. aged mid 40's and above?

    Younger, salaried GPs and those not working full time will indeed be around that pay level you suggest.
  • redlfc
    redlfc Posts: 101 Forumite
    Pennywise wrote: »
    Are they full or part time?
    Are they partners in their practices?
    Are they fully experienced i.e. aged mid 40's and above?

    Younger, salaried GPs and those not working full time will indeed be around that pay level you suggest.

    full time 10 sessions a week 70-80k
    they are in 30s but I didnt know the age of salaried GPs matter I had thought it was just being a partner which would increase your salary
  • redlfc wrote: »
    what field is this if you dont mind me asking? as I do have friends in city in finance but 60k for graduate rising to 100k is unheard unless Investment banking?
    Yes, investment banking. Most of the names that people will have heard of (Citi, Deutsche, HSBC, BoA etc.) start graduates at or around that level.

    It goes up much, much more slowly from there than it used to nowadays, and the bonus cap has changed the way it works a lot too.
  • redlfc wrote: »
    unfortunately I foolishly did not look into the salary side of things in comparison to other jobs especially when taking into account degree length/student loan/low salary increases as junior - my own fault

    Just assumed as a doctor i would be very well paid
    They still can be, but I think that you need to work towards some specific roles for that. GPs can still get six figures at a reasonable age, for example, and if you become a private consultant there’s a huge amount to be made.
  • theoretica
    theoretica Posts: 12,256
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    redlfc wrote: »
    I dont think its fair to use gross salary including weekend work if others dont have to work on a weekend ..
    It works both ways - other careers may not have to do weekend work, but they may also not have the opportunity to increase the salary for the extra they do. Though I think very many careers do have out of hours working, not necessarily as having to be in for given hours, but as things needing to be done and deadlines and expectations that can't be met without.


    redlfc wrote: »
    Your second point regarding comparing high fliers in other careers to "basic" doctors in medicine - again its a direct comparison based on time - to get to senior registrar level takes a minimum of 17 years from starting med school as I illustrated - I think its fair to compare since youll be atleast 35 by this point and thats if you started med school at 18 and progressed every single year without fail



    35 is only about 1/4 of the way through your working life... so assuming you hope for a salary that increases all through your working life you would still be on less than your personal average. You would need an equivalent point in other careers to compare with.


    According to this the average earnings for a GP in 2016/7 were £92.5k. https://files.digital.nhs.uk/05/386344/gp-earn-exp-1617-rep.pdf
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
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