Which professions do you think are overworked/underpaid? Similarly which are well paid?
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That's about as high as starting salaries get. It's just a touch under the UK average salary which is not bad for year one.
£46500 would put you in the top 15% of UK earners.
75k is inside the top 5% of earners. And you that's potentially just 11 years away? It seems okay!
I would imagine that only a handful of jobs would be that financially rewarding so quickly. Maybe if you are a very skilled recruiter you can earn that through bonuses. A talented software developer would probably leap to around that fairly quickly too.
But in London you will find there is always someone earning more than you. You could earn £1m a year and still feel poor compared to your peers. Don't get obsessed with it, it'll ruin you!
yes but dont forget the degree is double the length of others. Also I dont agree the year 1 salary is high anyway - almost all graduate schemes have a higher starting salary and thats for 3 year courses - as a first year doctor youre already a few years behind everyone - with a much higher student loan to boot!0 -
steampowered wrote: »Your work roster sounds far, far easier than what I have always had to put up with. Though to be fair I do get paid more.
A 40 hour work week is nothing. That is what, 8 hours per day? That's 9 - 5 !!!
As someone working in finance in the city (think lawyer/financial adviser), I can tell you that 60-80 billable hour work weeks are common. That is only work that gets billed to clients- not hours spent on admin, training or lunch. I do sometimes work 80-100 hour weeks.
The trainees and juniors I work with in the finance world get paid well but they do work 9am - 5am shifts when we have deals to close.
I perhaps agree that junior doctors are underpaid. Especially in London, since the public sector does not seem to take account of regional differences in wages/living costs as much as the private sector does. But not by much. £46,500 is far in excess of the average salary and you earn more by being promoted.
I think senior doctors are overpaid. GPs in particular. Being a GP seems like a pretty easy job to me.
but you are being paid well for those 60-80 hours - so whilst yes you are working long weeks youre paid exceptionally well to do so - the additional pay for out of hours work as a doctor is quite frankly shocking (it works out to around 12/13 pounds an hour)
I used the 40 hour pay as a comparison salary wise as most jobs have 40 hour contracts
Out of interest whats the starting salary post 3 year degree for people in your firm?0 -
You can earn £45k 3 years post graduate but many dont. Many struggle to get a entry job and others might get to £45k but never get much higher.
Studying Medicine is an investment. It should mean practicing in a job you're passionate about and gives you options. You could opt to work at gp and potenyilybwork part time, or do both NHS and private work and earn well over £100k.
You have also many more options working abroad, evolving in research, teaching, armed force oe even in a cruise ship!
The FY years are tough and it's normal you should ask yourself if you've done the right thing from a financial perspective. Saying that, why do you have to pay interest on your loan?
You have to remember 3 years post degree is 6 years post degree for everyone else - and with a bigger student loan to boot! Also you cant earn 45k 3 years post degree anyway - youre maximum would be around 36k basic and then the way banding works you stay at 36k for another 3 years before the next salary rise.
So thats a basic salary of 36k 11 years after starting university - its not that great
I do agree with the opportunity point however in reality to do private work you have to be one of the best to apply and get accepted to a highly competetive field that has a scope for this sort of work - and moving abroad is not a realistic ambition for many due to family etc0 -
Don't forget the annual leave and then pension...0
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Probably best not to think of it as a loan, think of it more as a middle rate of tax that you pay for most of your lifeChanging the world, one sarcastic comment at a time.0
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Pay isn’t what it once was in the city, but it’s still decent. We pay our interns and graduates about £60k a year probably rising to £100k on average three years in.N
Am I right in thinking most of you in finance/consulting/IT/engineering jobs are paid over 45k a couple of years post 3 year degrees? Im not saying this to try and devalue other careers - its more I feel that doctors are significantly underpaid when you consider the stress of job/unsociable hours/time spent to get to this position. I just want to know thoughts of people as it seems most of my friends are earning around 50k at the age of 25 with that likely to go up and up in a fairly short space of time.
On the other hand you get the respect of society and the satisfaction of making a direct and observable difference, which has to be worth a lot.0 -
Why would this mean that someone should pay you more though? Your value is what you bring to your employer, not what you had to go through to get there.yes but dont forget the degree is double the length of others. Also I dont agree the year 1 salary is high anyway - almost all graduate schemes have a higher starting salary and thats for 3 year courses - as a first year doctor youre already a few years behind everyone - with a much higher student loan to boot!
I wonder, given that you would have known the salaries before you went down this route, why you’ve chosen medicine as a career.
I started in the civil service on the equivalent of what today would be about £25k, and it would not have gone up much had I stayed. You are misjudging what others are earning, I think.0 -
Out of interest whats the starting salary post 3 year degree for people in your firm?
Accountancy practices in my area take on trainee chartered accountants, with degrees, at between £12k-£18k p.a. After another 3 years of study/exams, upon qualifying as a chartered accountant, you're up to around £30-£36k. But we're in an area of run down Northern towns.0 -
The difference is you're doing a job that hopefully every right-thinking sentient person believes is just about the pinnacle of careers, important and worthwhile.
I'm sure there's plenty of 25 year old Estate Agents earning twice what you are.
But when you introduce yourself as a doctor as opposed to said EA, or city slicker, you instantly command respect. We all know a medical degree is only for the top pick of students, and I certainly don't begrudge a GP at age 40 earning 100k+. I know they've been through plenty of crap to get there.
To answer your original question, teachers are often hugely overworked due to the profession haemorrhaging staff (see what I did there?) in some areas, especially urban.0 -
John_G_Jones wrote: »Pay isn’t what it once was in the city, but it’s still decent. We pay our interns and graduates about £60k a year probably rising to £100k on average three years in.
Similar experience here, I’m under 30 and in the 45% tax bracket working in IT in the City - and never had student debt to worry about.
My first job in London paid around £60k (with 2 years experience).0
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