To people that have finished university, and are paying off their loan...

[Hxc]

I'm gonna be lumped with probably £24-28k of debt after Uni. One hopes a Masters in maths will be worth it.

 

[Kappa]

Last year for advisory PWC starting was 37k in London. Fact.

i'm not being argumentative or anything, just stating facts. I know a good few people working at big four firms in London and regional offices and starting in London varied from 34-37k, and then large regional 26-28k and then small regional about 22-24k.

What? Surely you realise there's a lot of different roles? The largest intake, audit/tax, start off on the low end of 20s. Its the more specialist roles which get that much, which I did say. You certainly are dreaming or being lied to, or looking at the niche areas. You most certainly cant say Big4 starting salaries are 37k, it's misleading, even if it is accurate for a few jobs they offer.

 

[-Ad-]

Most of the intake will be on circa £21k. Its how it works. It's pointless picking out extreme examples of elite students and using that as an average grad salary!

Hmmm, not sure it is that low, but I can't be for certain. Got a few friends at EY, with one in the London Office and the other further out North of London. The London salary certainly wasn't near £21k, but then again it depends on what part of the business you go into, location etc. But that does change when you qualify, although apparently in these times the salary increase is not what is deserved or expected so quite a number think about or just leave.

But I'l be finding out in the next week how the Graduate Tarnish Brush affects me when I come off the Grad scheme into a permanent position. We are after all cheap labour and want to work our butts off. Not great, but it's time to gain experience, gain contacts, do some great work, move on and up!!!!!!!!!

There are no comfortable jobs for life and any associated rewards these days, something which was what my whole business area was about. Thus you have lots of comfortable old people who arn't that bothered, then us young lot coming in with new ideas and there is a clash. Old people don't like change

 

[carvegio]

You don't really notice it much unless you look at your pay slips. It just gets taken out and at some random points in the year you get statements. Mine should be paid off by next April, thankfully. It was only 9k.

I just think it will be a very nice pay rise when it
happens - almost as much as I give myself to live on each month!

 

[Mad old tory]

Last year for advisory PWC starting was 37k in London. Fact.

i'm not being argumentative or anything, just stating facts. I know a good few people working at big four firms in London and regional offices and starting in London varied from 34-37k, and then large regional 26-28k and then small regional about 22-24k.

Someone is pulling your leg there bigtime. London starting wages for big 4 are about 28k or at least they are in audit and tax. I know this is FACT because I just so happen to work in tax for KPMG. I would be surprised if the grad schemes for advisory brought in 9k more than that.

Oh and student loan on 29k isn't that noticeable

 

[matt_fsr]

I just treat mine as thought it's money I never had. It's nice to be paying back all capital at the moment, but during the 5% interest years I was paying back less then the interest payments, so my debt was actually increasing.

I felt as though I was fed so much rubbish at your age - Go to Uni, much better job prospects, high salaries, head hunting of graduates... etc etc - rubbish.

If you're anything but stunningly gifted you'll go through the standard "sausage factory" and hopefully have a degree at the end of it, along with a pile of debt. It's then really up to you how you use it.

I live oop North, so a 20k salary for me isnt too bad at all. 20k or even 25k in London, id probably go hungry some nights!

 

[daz]

Go to Uni, much better job prospects, high salaries, head hunting of graduates... etc etc - rubbish.

It's not rubbish at all, people with degrees earn significantly more on average than people without degrees.

If you go to a rubbish university and/or get a rubbish degree in a non-subject though, that's nobody's fault but your own.

 

[gonda]

About £130 comes out each month for me, I graduated in 2008 and been working for a year now - there's nothing you can do to stop them taking the money off you, you never have it in your account anyway so you don't miss it.

 

[men8ifr]

How does it affect you, your income and what not? I ask because I had the startling realisation of how much debt I'm going to owe if I go to uni, and I'm trying to figure out if I think it's worth it.

Thank you for any insight and wisdom passed on.

You've got to work out how much more you're going to get paid when you get a better job with that degree.
Generally don't worry about government student loans since you only pay them back after earning a decent salary but other loans etc beware they will be hard to pay off.

 

[Stretch]

I finished uni in 2002. I came out with about 12k debt and have paid off on average about £100 a month since the end of 2003. I still owe about 5k 7 years later. It not huge sum each month, but it does get you down after seeing it deducted on top of tax.

 

[dowie]

actually there is one drawback - if you get a *really* good job it is possible for them to screw up and take way too much off you

has happened to a friend who works in commodities - had a very large bonus and the student loan company took their usual %

he ended up over paying his loan and had to phone up some regional call centre and ask for the money back - guy on the phone was quite calm and said that slight over payments do happen etc when the loan is paid off - then realised that the overpayment was for something like 40k or so and was quite baffled....