Graduate salary

Nitefly said:
Well, I can't really say because I don't know anyone that works in one. I think it's a standard increase but then it's reviewed individually. Either way, 10 years in I would expect somewhere close to a 6 figure sum. Apparently solicitors at major city firms get bonuses of £7-10k a year as well, blimey.

However, they don't really have any life to speak of. It isn't a lifestyle for me at least.
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Maybe I'm mis-reading what you are saying but if they are starting on £95k a year they are already pretty close to a six figure sum? Remember some guy telling me about his lawyer mate and how he was on around £200k a year and I think he worked in the City. So I've always thought they earned around that much once they are fully established. Obviously if you do really well and become a partner in the business probably a bit more money in it for you.

Like you say though not a great life though the same can be said for many City jobs, they do reward you financially but can really take their toll on a person. One of my uni mate's cousin was an Investment banker and he told me how he was suffering with depression from work related stress and became quite paranoid as he thought he was going to be sacked. I know an accountant who worked at a big investment bank and he left a few years after joining due to the work load as well.
 
Jazz said:
Maybe I'm mis-reading what you are saying but if they are starting on £95k a year they are already pretty close to a six figure sum? Remember some guy telling me about his lawyer mate and how he was on around £200k a year and I think he worked in the City. So I've always thought they earned around that much once they are fully established. Obviously if you do really well and become a partner in the business probably a bit more money in it for you.
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Well, I said that they can start on as much as £95k, but the average is much closer to £65k. After 5 or so years from £65k, I would imagine it becomes close to 6 figures.

Once you are getting into partner salaries, we are talking serious money.

Personally, I don't think it is worth the stress. I have heard stories of people who didn't leave the office for two weeks. They have 'sleeping pods' in the basement and expect you to work weekends. I'll pass.
 
aayzof said:
I've got a bit of a conundrum at the moment.

I have a place on a graduate scheme for a multinational arms company starting on £24,000, but this will rise significantly. The training and development opportunities are unrivalled. However, it is in the North East of England, and I would prefer to be South.

I also have the option of a £20,000 job in central London. Working for this firm is a lifetime ambition of mine, but the development opportunities are not the same and I would be entering at sub-degree level, simply to get a foot in the door. The work would not be as challenging and the pay would be less, but it's a foot in the door and it's in London.

What would you do?!
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Sounds a tough call, but remember that £20,000 isn't going to go far in London.
 
My friends on well-paid placement years (at Oracle, MS, etc) are earning 16 - 18k if I remember right, so I'd hope a decent grad salary would be more than that...
 
Ev0 said:
Meh I got a 2:2 all those years ago and never did me any harm. Doubt I'd be earning any more if I'd have had a higher grade due to the area I wanted to live in, all the jobs (all 2 of them lol) I've wanted down here I've got with the most recent being a bit more experience based.

Grades will help if you're after grad schemes, although even then it's a third that causes problems as quite a few grad schemes will take on with a 2:2.
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TFTI, I got a 2:2 also, and thought 2:1 was the holy grail for some reason.

Quick question, do you know if you have to be just out of uni to go on grad schemes or does it matter if your pushing 30? :o

I've been running a business but TBH I'm getting bored and I'd rather do something I like really...
 
ghost101 said:
But the thing is. How many hours do you work? If its not strictly stated, I'd be worried you're earning below the minimum wage.

40hr week at minimum wage is ~12k.

edit: I have no idea what a runner is, so of course I could be completely wrong.
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I'm not quite sure the working hours myself. I'd imagine it'll be typical office hour at 8 hours per day.

A runner in a production company is pretty much like cleaner, delivery guy, and maybe recepionist combined together. It's a role for those usually who have nothing relevant in digital media degree (or perhaps without a proper work experience) to gain a foot into the production industry but most likely a runner will never get a job unless you would be one of those people who are extremely talented, determined and able to dedicate majority of ur free time learn stuff after work in the studio.

I myself with degree in 3d animation applied for runner various times but due to it's overwhelming applications, I don't even get replies :o
 
Mad old tory said:
True, 35-40k is pretty hefty for a starting wage. What amuses me is that 3 letters after your name in my profession see your wage pretty much double yet you're essentially doing the same job :p
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that because wth letters you can get PII and they can make you manager


our grads are on 24k starting salaries. were small but specialist and compete with big four. We are based in London and Farnham but we choose to London weight.


also, the lawyer stuff is not representative. they do a year LPC and then train for two years while they get to 95k+. In the meantime they are on between 30-40k max.
 
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Kemik said:
What's the business school like? Nice from the outside? Got an address? Any idea on the flats we stay in?

Thanks :cool:
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The building is South Quay Plaza 3 - which is 189 Marsh Wall. The flats are nice, by all accounts - but I never saw one. They're not a long walk from TBS.

When our lot were in Edinburgh (as you will most probably be after the first 3 months), their flats were a 45min walk from ICAS...
 
I have friends who are above 25k and below 25k, so it's probably not hugely out. Teaching, as a newly qualified teacher, I am on around £21,000 for my first year.
 
After I finished my phd it took me 9 months of looking (fairly nationally, excluding london) to get a job in 2006. When I did, I felt the salary was pretty **** at 22k. I spent 9 months there doing really basic software work. With that experience, I then got offers for £25k in B'ham, £27k in Milton Keynes, and £29k in cambridge.

Just goes to show what a little experience can do for you.
 
I'm only on £19k (with overtime) and I have both a BSc and an MSc! Then again I'm not in a graduate job, currently waiting to hear back from medical school after my interview :)
 
Medical doctors starting salary is £21,000 basic. Then depending on overtime, late/night shifts, it can go up to 80% extra if you work over 56 hours a week. Including overtime, I worked out I get £12.50 an hour (ish)

I feel sorry for some of my mates in central London who are on just the basic salary of £21,000. For so long at uni and to do such a specialised job, getting around £1,200 a month is a pittance
 
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I didn't think you could get that much extra anymore, the most I heard was 50%. Also are they beginning to clamp down on overtime hours (such as 56hpw??)
 
Most grads in the City working for finance firms are on at least £35k these days with a large sign on of approx £5k.

I graduated in 2007, did exactly that - joined big investment bank. I am now 6 months into a new job working in a similar area but at a much smaller firm (moving to Sydney) and, including bonus, I'll have taken home a significant amount more than £35k which is what I started on.
 
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