The 5 year plan to £50k

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Man of Honour
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That's cool, was it like an internship after uni or something or did you move to the US for a perm role with them?

It started as an internship. It was good fun, especially outsmarting some of my ‘more qualified colleagues’ who used to then steal all my ideas. I was going to stay and they wanted me to, but the whole visa process got complicated and I ended up back in the UK. It certainly left me with a lot of options back here. I always wonder what if I had stayed.
 
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Went travelling for 2 years in my twenties, came back with the conviction I needed qualifications to be able to do what I wanted in life. Took a job doing credit control covering maternity leave, ended up getting CIMA qualified and a degree, now on in excess of 50K up North, but for most of the time I was studying was on well below - I think I started when I came back fro0m Australa on 16K
 
Soldato
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@EVH and @Maccy - excellent reads, thank you.

I'll get round to posting my road to £50k (and beyond) - initially my goal was 1k per year old (so £30k @ 30 etc). But I reached/breached that goal fairly early on.
 

Deleted member 651465

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Deleted member 651465

Wasn't short, but was a damn good read. Thank you for posting it. Even if just for nosy gits reading random threads.
Thanks. I wanted to add more detail as I felt I rushed it at the end but I had work to do :p
 
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Always interesting to read people's career path.

I'm well short of 50k at the moment, but I hope that I'm the verge of a decent breakthrough towards it. To achieve that however, I need to increase my testicular fortitude, leave my employer and take a bit of a leap into the unknown.
 
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Pre £50k

1996 - £14.5k; Graduated in 1996 BA Systems Analysis, I had a direct choice between a role in Bristol working for the same life assurance company I spent my placement year with, or a role on a graduate scheme with a consultancy, based at the London HQ of a large oil company as an application support analyst/developer. Bristol was offering £12k, London was £14.5k but I would be able to lodge with my mum and save on *some* rent costs. I took the consultancy role for a few reasons; it was a good name to have on the CV, the job seemed more interesting than writing COBOL/LINC, I was hoping there'd be the option to do some travelling for work.

1997 - £16k; 18 months later, and it was clear that there would be no travelling, and that the applications I was looking after were not exactly state-of-the-art, and there was no desire to upgrade/re-write them. "Just keep them alive" was the mantra. I think I was on about £16k when I quit, making the worst move of my career.

1997 - £20k; started working for a large japanese investment bank. Worst. Job. Ever. The systems were antiquated, I was using some god-forsaken ancient tooling to transfer data from the bank's mainframe into SQL Server and then do a bunch of FX calcs on the data to prepare for the traders to use. Being shouted at in Japanese is something that everyone should experience. But just once. I lasted 6 months, and was offered the opportunity to re-join the consultancy, doing something a bit different.

1998-2000 - £20k; Y2K work was actually reasonably interesting, turns out that I actually quite liked COBOL, at which point I was wondering whether or not I should have actually taken the job in Bristol, to the point of contacting my old boss there - who had since quit, and the systems had all been "upgraded". Still I got to do *some* limited travelling, as the oil company had a number of sites running Y2K non-compliant software, which I spent most of 1999 fixing up. But I wanted more, I re-wrote a few of the non-compliant apps, as it was easier to do that than to fix them, started doing some web development (coldfusion/javascript) and really enjoyed that so started looking for a web dev role.

2001 -> 2005 - £28k+£2k bonus; joined a large asset management company to work on their intranet and a few other web apps that they used to produce client reportings. This was the first job I had with a discretionary bonus - which was £2k in the first year, but improved later on. At this point I was able to buy a house, and my wife shortly fell pregnant with the first of 3 children that I would have whilst working for this company. Anyone who has had children will know that trying to "give 110%" whilst only having an average of 2 hours sleep per night is pretty much impossible. And I stagnated. I did what needed to be done, and no more. I wasn't really learning or developing myself, I was just surviving. 1st child was particularly tough, she didn't sleep through the night until after child #2 arrived. Between 2001 and 2006, my salary went from 28k to 36k, and the bonus was about £15k on average. Other developers who joined after me started leapfrogging over me into tech lead/team lead roles, working for other areas of the company. It was pretty grim at one point. I remember I used to go to the toilet at 4pm literally for something to do for 20 mins to wind the clock on.

2005 - £36k+£7.8k; I changed. I started getting sleep. I started making some changes and driving new technology adoption. I had the company pay for an MCSD.Net qualification. We started making plans about upgrading the intranet and internet sites to use .Net. I got my first decent pay-rise the next year.

Post £50k / Pre £100k

2007 - £44k+£12k; That's £50k. For the next few years I started going around the different development areas, helping them sort out basic engineering principles, ended up working in the front office IT team, where we put together a prototype for the first hedge fund that the company would run. It was late and over-budget, but it was done - and we said we'd try a different project approach next time.

Q1->Q2 2008 - £50k+£17.5k; Got bored again, we did a few more projects, all of them delayed/over budget or canned.. One final failed/delayed project on a credit risk datawarehouse and it tipped me over the edge, and as I was about to start looking for a new job I was contacted via LinkedIn for a role...

Q3 2008/2009 - £58k+7.3k; I timed it exactly wrong, and missed out on a bonus (the bonus given was pro-rata'd for 3 months out of 12), however the role I secured was a developer for a large hedge fund - based out of 3 main locations (London/Zurich/Chicago), so I would finally get to do some travelling. The tech stack was great, all the developers I met during the 2 days of interviews were great, they were adopters of agile (Scrum specifically) and everyone had a mandatory 2 day Scrum training course. The company was doing really well, massive expansion plans and plans to have > $200bn under management within the next 3-5 years. But then September 2008 happened. My boss was made redundant, his boss was made redundant. The development team I was on were split up and scattered - and I ended up working out of Zurich for the rest of the year whilst the company worked out what the hell it was going to do. I also worked out that I had effectively taken a pay-cut to switch jobs. Some dark days.

2010 - £68k+£13k; The company worked out what it was going to do - I was put together with about 50 other developers, working on a centralised valuations platform for the Fund of Funds business. It was great. I was flying out to Zurich every other week. Had some time in Chicago working with the Fund managers out there and working out what they wanted from the new platform. I seemed to be able to pick things up quickly, develop and deliver solutions far quicker than ever before, and was soon promoted to tech lead for the team looking after the core valuations platform. We all worked hard and played hard - the ex-pat community out in Zurich was amazing. My wife was initially worried that I'd be stuck out on my own, but soon gave up worrying after the 2000th drunken selfie I'd sent her. I'd fly out on a Tuesday morning and fly back Thursday. Chicago would be out on a Monday and back the following Friday. But I didn't have to do that many times.

2011 - £80k+£13k; ...close to £100k now. We'd completed the work on this central platform, only to find that we'd taken over two companies, both of whom had a better solution to the problem we were trying to solve, so 2011 onwards was a series of integration and decommissioning projects - by the end of 2013 we had decommissioned the platform we put in during 2010, and had a great basis for integrating other companies' systems and processes. Great pay-rise again, for the second year in a row. I was still *just* a developer/tech lead - there were a few development manager roles which came up, and I was put on the Employee Management Programme training course.

Post £100k

2012 - £100k+£14k; £100k! I was now managing the main Fund of Funds development team (about 10 people), unexpectedly good pay rise went along with this - it wasn't easy, we had acquired developers from other companies as/when we bought them - and during this time I had to make several people redundant and dismiss one person. That's the least favourite part of my job. We were continuing to build out and integrate systems, and upgrade existing systems which were not fit for purpose due to the increase in assets we had to manage as a result of the acquisitions. This integration work carried up for the next few years...

2013 - £100k+£10k; disappointing performance by the company that year led to a really poor bonus pool - 50% of the developers in my team quit that year as a result of this. Again that was hard to take, as it's out of my hands...but I still had to deal with the outfall. More integration work for this year...

2014 - £100k+£16k; more integration work, I also took over another development team who were working along-side the main team and I decided to merge them into one single/larger team. A slightly different bit of the business though, so it was interesting and useful to be able to start joining them all up.

2015 - £105k+£30k; I was offered a role internally, reporting to the chief architect, to look at making the core services more resiliant and reliable, but before I could get going with that, we had another acquisition - and another bunch of integration work to be done, this time a quant fund manager based in Boston. 2015 was great - multiple trips to Boston, the chance to learn about how they worked. I was asked to put together a small team of developers to integrate their OMS into the central PnL/Valuation engine. The project was tough ("Project Certain Death" was its nickname), deadlines were tight, there was a lot of money in terms of vendor licencing that meant we had to deliver before we had to renew the licences, etc. It was all delivered, in a flurry over Christmas/New year 2015/2016 - myself and another developer were up all over christmas, including new years eve/day pre-loading the system so that they could start trading on Monday Jan 4th 2016. Went live, no major problems at all. This was my fourth successful integration project, and was developing a pretty good reputation in technology and the business.

2016 - £115k+£47k; Bonus was a result of the previous years integration work, I was extremely chuffed to get that. Start of the year was some residual work tidying stuff up as a result of having to hit the hard deadline for the work - nothing major. In May I was asked to take over the development manager role for the discretionary trading part of the business - the project was in dire straights. 2 years late. The solution they had was terrible - the developer turnover was 50% per year, they had a succession of development managers, none of whom lasted for more than a year. I was told up-front that it was a massive hospital-pass, and that I'd only have to do it for 6 months whilst they work out whether they want to carry on with it. My primary focus was to stop the trading systems from going down. Which they used to do, a lot.

2017 - £125k+£56k; Bonus was a result of taking the god-awful systems and making them stable. I'd spent 9 of the most stressful months of my life making the trading system better - I made 6 of the developers redundant once I'd seen what they'd written. It was awful. I said as much. I'd been there for a year now, not just the 6 months I was promised, I should have done a worse job really (in hindsight). At the beginning of the year, we started working on the MiFID II project - and that consumed the rest of 2017. Along with putting in a brand new OMS/EMS for Fixed income (again due to MiFID II and the existing FI system was 12 years old and no-one wanted to touch it...) - it was nearly worth it for the pay rise and increase in bonus. Almost.

2018 - £125k+£49k; bonus was down as it's linked to the USD/GBP exchange rate, I had the same bonus as 2017 in USD ($70,000) - I wasn't pleased about that. Which some might say is the ultimate 1st world problem - but it wouldn't have taken much to bump it up so it was at least the same as last year. Oh well. But it was a kick in the nuts, especially after delivering not only significant changes to the new system for MiFID, but also delivering a whole new OMS/EMS in about 5 months. In Feb I quit and took a role back at the Fund of Funds area of the business. Doing Systems engineering and some development for the new quant based business, which is where the company and the rest of the industry is heading.

Happy to expand on anything if there's any questions about any of the above. Hope you find that interesting and/or useful. For me, it's been quite cathartic writing it all down for the first time...
 
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A2Z

A2Z

Soldato
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I'll be honest when I see people earning that kinda money... and bonuses I get jealous! Kinda wish I didn't drop the Comp Sci part of my degree as I just found coding so boring. Maybe should have stuck with it.

Since I finished uni 10 years ago my salary has gone £17k > £18.5k > £22k (fired!) > £19k > 29k > £32k > £40k where I am now. I'm on a waiting list for another promotion...as soon as I get it (could be a while..) will be on £50k.
 
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Great post MrB... are you able to tell me roughly what hours you were doing in the roles from 2008? great achievement to get to 100K, let alone the massive bonus... I didn't know that bonuses were still high in hedgefunds
 
Soldato
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Great post MrB... are you able to tell me roughly what hours you were doing in the roles from 2008? great achievement to get to 100K, let alone the massive bonus... I didn't know that bonuses were still high in hedgefunds

Hours I kept were 7:30-17:30 so "reasonable" - and it was my choice for the early start, as I am always up early and like to avoid the worst of the train rush.

For 2015/16/17, there was a significant increase, ending in working pretty much 7am to 7pm mon-fri, and some evenings at home, and some weekend support work if there was a system update or something before APAC trading started on Sunday evening.

Back to reasonable hours now that I don't have to look after a 24/5 trading system.
 
Soldato
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Following from great posts from EVH Maccy and Mr^B I figure I'll do the same as I know the demand to hear about the scintillating world of public sector procurement is as high as ever......

2007 - Graduated university with a 2:1 in English Lit, I had no idea of what I wanted to do, I'd worked reasonably hard at uni but really missed the opportunity to plan for working life. I vaguely knew I was interested in editorial work but I had friends doing extra years of study and I wasn't ready to go home yet. I spoke to some agencies and took a job at a debt recovery call centre in Hull paying £15k pa plus bonus (and a second job working at a bar) . Hated it but got to spend another 6 months enjoying university life while earning a bit of money.

2008 - Moved back home to Cambridgeshire and began doing some editorial assistant internships in London whilst temping with a local agency. Didn't really make many inroads in terms of the editorial field and I was effectively unemployed except for the agency work. The economy was entering the crapper and I was struggling with motivation. Towards the tail end of 2008 I got a couple of long term temp role with the County Council as an administrator, pay was around £15k and the work was varied and quite interesting. That last until midway through 2010 when the contract ended and I went temping for a little while again.

2010 - I managed to get a permanent gig with the County Council due to my previous agency experience. I was working as an administrator within the Adult Social Care Procurement Team on around £16k. I excelled due to my strong admin and technical skills and developed a good reputation within the team and organisation. When the new Head of Procurement joined I found myself in line for more high profile work and a few honorarium payments and small payrises (this was and still is a really hard time for the public sector so a payrise without changing roles was pretty much unheard of).

2012 - I was promoted to the role of Contracts Monitoring officer on around £20k, much more responsibility and I pushed my Head of Procurement to allow me to get involved in more complex procurement work. I was building strong relationships across departments and now had some limited face time with senior managers. I was given a project to manage which brought me to the attention of commissioners as well.

2015 - This next promotion was about 12 months in the planning due to the need to seek funding and the glacial pace of change in the organisation. Effectively I had started interviewing for new jobs internally and in an effort to keep me my Head of Procurement created a new role with line management responsibility at £28k. I had to interview but it was effectively what I was already doing with a bit tacked on. At this point I started to attend directors meeting both internally and externally and by the end of this position I had completed two levels of the CIPs qualification. I'd argue that by this point I was one of the most integral members of the team.

2017 - I had started to become slightly restless, budgetary pressures were leading to greater joint working between my Council and a neighbouring authority, my team had been protected from restructures for a significant period but now the commissioning and procurement arms were being merged. I was extremely confident in my ability to get a new role on more money, however I was concerned about the messages coming from senior management regarding the new structure (they were responding positively to all concerns and making promises they simply couldn't keep) as such I started looking elsewhere. I had an interview with a London Borough to become their Procurement Business Partner and was offered the job at £42k. I was actively looking for work in London because at the stage I was now at I knew I could kick start my progression as in London procurement demand is strong and the supply very short. In addition networking in the capital is very powerful.

2018 - Role on to now, I wasn't enjoying the hands off nature of my job and was looking to get back to a more project based role. I had two opportunities at the same time. My old Head of Procurement tapped me up for a potential contracts manager role in Northampton, slight payrise, and money saved through travel but also a move away from London which could damage my progression and no defined timescales. Would have loved to work with the guy again though as he was instrumental in my development. I also had a call from a recruitment agent whose colleague I had worked with in Cambridge. He put me forward for a role near where I am now with the NHS. Went for the interview and wasn't expecting much but was offered the job the following day. I now start my new role in 3 weeks on £55.5k for a pretty well thought of company. I have a defined project and much more control than I have now as well as great opportunities to network with a large range of organisations.

It's been a long road, and I'd say due to the difficulty finding work straight out of uni I probably delayed my career by about 3 years. If I could do it again I would have spent more time planning for graduation but all in all I feel pretty happy with where I am and my potential progression.
 
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@Mr^B Great post. Would be interested in stories from any Engineers (Freefaller)?

Only logged in because someone pointed me to the thread and thought I'd offer some insights from my perspective since I was asked for it. Going beyond £50k was more a journey of going above and below that salary, as various roles offered different benefits but it was never my focus really, and I was more of a "coaster" for a while rather than really applying myself. I also realised priorities change as your grow older and things in life change.

I started working when I was 16, working during holidays, every other weekend for an engineering firm. This was in the 90s when IT, electronics, and tech was evolving ridiculously fast. I had always been interested in that side of things so wanted to get myself off to a good start before going to uni. Clearly this was just part time/weekend work, but starting to earn money as a teen was really exciting and offered me a lot more independence from my parents.

After my A-levels, I wanted to travel, but also work a bit to get some money for Uni. So worked full time for 6 months, for the same engineering firm, then travelled for a 4-5 months. I then went to study Electronic and Systems Engineering at uni. I supported myself through uni, doing other bits of work, bar work, door work, and during the holidays back to the engineering firm to top up my skills, money, but also to apply some of my learnings to add value to the company. I kept this up throughout university. It must be noted that I didn't get any support from my parents (I refused it), and the LEA paid for my uni place, plus having taken out the full loan amount.

After graduating I was offered a role at a few engineering firms, but actually went back to the SME because not only what they did was really interesting and exciting to me, but they also offered a good 2-3k above the other salaries and I already knew everyone there. I did everything from systems integration, design, to actual physical installation. Later as I developed I got into more project management and consultancy work for our teams as the company grew. I landed a couple of promotions, and when I left the company in my mid/late 20s I had added about £10k to my starting salary.

Within my first year of starting my first job I rented a flat and moved out of my parent's home - it was time to grow up. I say this to put it in context that I was living independently so my earnings were important to sustain my day to day life and responsibilities.

I felt I had outgrown the SME, and wanted to develop more skills in a different business. But also they didn't believe in training, courses or anything like that. I felt I had a lot more to learn. I joined a large FTSE100 in an operational management role. This netted me nearly another £6-7k increase. That was a massive baptism of fire. Long hours, toxic behaviours, aggressive management, and very "old school" ways of working. The reason I jumped ship was because I was getting itchy feet and wanted to do more as I said, but also had a chance to go through a fast-track management programme to develop my skills and ultimately earn more money. Feedback after the interview was that "I was the polar opposite of the sort of people they usually hire" - which I guess is why they offered me the role, to try and shake things up.

I'm not going to lie, I was floundering a little (a lot), it was a secure logistics company dealing with high value items and cash. It was fast paced, poorly managed, lots of firefighting, politics, and no one wanted to do anything other than what they wanted to do unless you were able to be the most aggressive **** in the company. Not my style at all. My skills lie in analysing processes, interacting with people, and questioning everything we do to understand if we can do things better. This ****storm was not fun or exciting. However, despite the 10-14hr days, weekend calls (24hr operations 365 days of the year) I was determined, certainly even more so after hearing some feedback that I "wouldn't last 6 months". Being a tenacious yet stubborn individual, though also rather sensitive I didn't want to let "them" win.

So I gritted my teeth and cracked on, I got under the skin of the business, unturned rocks, aired dirty laundry, and became a fount of useful knoweldge to operational effectiveness of the business. I was exhausted (I was doing 70hrs a week over the course of several months working weekends too), but my efforts were being noticed, as I was tasked to lead a "expert squad" for want of a better word, to fix one of the poorest performing sites in London.

To note, whilst all that was going on I was also in a ludicruous amount of debt - I lived a pretty outrageous lifestyle for the first 10 years of my professional life. Lots of travel, cars/bikes, women (ashamed at my behaviour looking back at that period of my life), gadgets and gizmos etc... I had clocked up in excess of £20k of debt. Another reason why I was working hard was to clear this debt. Live indepenedently, still go on holiday, and not go hungry. I actually managed to clear my debts, my student loan, and start saving by the time I turned 30. It helped that I had managed to settle down with someone who helped give me some focus, and support. But that's a story for another time.

As a result of my successes in turning around one of our poor sites, I put forward a suggestion to the board (a bold move for a 20-something year old) to introduce a dedicated team of continuous improvement / business improvement specialists for the business. It was approved, and so my opportunity to change the business through my engineering skills, and mindset came to life. I had to apply for the role of course, and successfully joined the newly formed continous improvement team. Unfortunately owing to the fact I was an internal candidate it only netted me around £4k but it was a grade bump up, so had more benefits, better pension, bonus, company car etc...

At this point I had breached the £50k barrier.

Over the period of 3-4 years, we completely ripped up the weeds, upturned all the rocks, aired all the dirty laundry of the business. Lots of people left, or were asked to leave as a result, lots of improvements across the business started to flourish with our support. The toxic aggressive environment was changing. We actually empowered staff/people to collaborate, share ideas, and seek better ways of working. We implemented systematic and well designed changes. I became a lean six sigma black belt as a result, and really started to learn how to deliver effective change using a more scientific and pragmatic approach. However, this was all very well and good for our internal systems, I was more interested in the happy clappy stuff (there's a surprise). So my focus was very much on the customer experience side of things, asking the questions "what do our customers want" - believe or not no one had every asked that question, we were just about getting money, and arrogantly thought we could get away with being more expensive, as we were the best at what we do (we weren't - the competition was heating up and it was affecting our profit margins).

After extensive painful work (also bear in mind the Olympics happened in between all this), we managed to:

  • Empower staff to share ideas, and develop better ways of working
  • Realised several £m of true bottom line benefits (the business was a several £bn turnover company)
  • Reduced claims by 74% via better processes and complaints by 57% through better communication
  • Dedicated business improvement team implementing small changes which aggregated to lots of improvements
  • Improvements to working conditions
  • Proper dialogue between the union reps and senior management
  • Less fire fighting and "old school" aggressive management
  • Plus a lot more I'm sure...

It really was a fantastic story, and all that effort, broken relationships (both mine, and professional ones!), praise from internal/external customers, and probably taking several years off my life by some poor decisions made... they decided to cut our team by 50% because we had achieved such good results and felt that we didn't need the whole team....

Hells bells... I made the cut fortunately, but had to cover the whole of the UK rather than just the south, commuting (by car) regularly to Manchester, Leeds, Liverpool to name but a few, I lived in SE London. This was a massive step back. And despite having been offered a more senior role, I felt spent, so it was time to move on. The business clearly didn't realise to keep things going you needed support, and the company hadn't developed an organic capability to allow it to happen without support. It still needed nurturing to make it work.

In my next role I actually took a pay cut, so dropped below the 50k window (basic salary) and went to work for a massive public sector infrastructure (civil engineering) megaproject, heading back to engineering was always my dream. However, I was debt free, in a good relationship, some savings, in good health, and the role had amazing benefits (public sector golden pension, health care, free travel and crazy annual leave entitlement). The job was also incredibly rewarding, pathfinding, and industry leading. I had started to really make a niche for my skills and capability in an engineering environment. Whilst the pay was less the overal benefit package amounted to 1.5x the basic slary anyway. As a result of my team's work we received a huge amount of industry acolade, invited to speak at various .gov consortia, sought out by universities, SMEs, start ups and organisations to help them deliver and exploit opportunities in engineering for innovation, continuous improvement and cultural change.

The work was hard, but incredibly rewarding, I probably worked slightly less hours than the FTSE100, but I got so much more out of it. How do we change how engineering works / behaves / delivers projects? How do we stimulate R&D and innovation in construction and civil engineering? How do we move away from the status quo / tried and tested? How do we learn to celebrate failure? This was incredibly exciting times and created a tipping point for the industry and myself. Also it was amazing being part of a multi £bn megaproject.

This led me to work for a .gov body to specifically address the above area but across the whole sectore. It was exciting as I got to interface with the whole industry, multiple major infrastructuire projects to seek out the best engineering opportunities, best practices and start to revolutionise how engineering behaves. Typically engineering is a bit old school still, early starts, late finishes, bums on seats, and very much about the tried and tested, and "we don't want this new stuff here" mentality. This put my back in excess of this £50k with some nice benefits. Since there is a massive drive from the government, and engineering/construction has been offered a new sector deal and they're willing to plough resource and capability into it, it's an exciting time to be part of engineering/construction.

However, I was actually headhunted to lead this very capability in a major engineering company, almost doubling my salary, I would have been a fool to have turned down the offer. I do work long hours now (and spend over 3hrs a day commuting) but am a business leader and part of the leadership team, which does offer me the chance to be more strategic and have more influence to implement change and create opportunities for the business - within a year I managed to bring a significant uplift to the bottom line, not because I'm amazing, but because I have the experience, and know the right questions to ask, and know who to speak to and what hadn't been done to date. It's just seeking the opportunity and exploiting the areas you know can be fruitful. Experience adds so much more than just a degree or a qualification in my opinion.

It took me around 9 years to breach 50k - can't say I chose the easiest path though. And I didn't really start pushing myself until about 6 years into my career. Now... it took nearly 16 years to get to my somewhat generous salary, but I realised that the engineering industry has a plethora of opportunity. This is why despite moving out of it, actually really helped me as it offered skills and visibility of different industries which diversified my own capabilities. I think diversifying your experiences can really add a lot of value to whatever industry you work in. These salaries, and responsibilities, come at a bit of a cost - you do need to put the hours in, be visible, and deliver results. There is more pressure to perform, and no magic blue pill will help in times of crisis. So you need to either build that resilience and have that tenacity or accept that earning such high earnings is not as worthwhile. Part of me would be happy to earn half the amount but be able to walk to work - however, I have become used to the spending power you get - it's hard not to. You end up living to your means. Though it does mean I can save more which is something I never really strictly in the past, it was more ad-hoc saving.

Grad engineers can start from £30k, and salaries augment nicely. Furthermore, most companies will support you to become chartered, if you're an engineer I cannot urge you enough to aim for chartership, even if not an engineer become professionally qualified, it really does help set you apart. In a large tier 1 contractor, an engineering manager, or lead engineer can easily earn in excess of £65k with heads of engineering, or specialist engineers netting well over £80k. If you aim towards consultancies and design houses, you can also earn some rather astounding salaries. Sure, you'll never earn what hedge fund managers earn, or lawyers, or if you set up your own business and its successful. But engineering is become so diversified in terms of skills now. Certainly with technology enhancing our capabilities there is a world of opportunity to change our capabilities as engineers. With over £500bn of infrastructure projects in the pipeline, there's a lot of opportunity out there, however, you need to ensure the company you work for is willing to grow/change if you don't, you then get the Carillions of this world that fail because of chasing every contract without taking a step back to establish its own capability.

Not sure if that helps at all - but there you go a bit of a brain dump.
 
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@Freefaller Thank you for that, appreciate the lengthy and detailed response. May post in more detail at some point, but in short, I'll have been in Production Engineering for seven years by the end of this month. Not at the hallowed £50k figure yet. Do thoroughly enjoy the field though and have a big passion for change and improvement generally, whether personally or in the firm I'm in.
 
Soldato
Joined
19 Jan 2006
Posts
15,987
Short version of mine.

1995 - Uni to do Electrical/Electronic Engineering. Lasted 2 years before chucking it as it just wasn't for me.
1996 - temp jobs around Edinburgh - then ended up at Scottish Widows call centre knowing nothing about financial services.
1998 - worked in call centre for about 3 years - money was ok (18k) but people and city centre was briliant - out most nights, hungover most days - cracking time had for a few years. Work hard play hard was the motto - Enjoyed Financial Services, ended up as a Team Leader (about 20 agents under me) and did some FPC exams etc over next 3 years.
2000 - Scottish Widows demutulised and I knew I have very little option but to leave if I wanted to start advising clients as there was too many cooks etc. Was earning around £25k with weekend work etc.
2001 - Took job with a crap financial services company - left after about 3 months as it as a dead end job with a total idiot of a manager.
2002 - Ended up working for Clydesdale Bank in the back office, I was way over qualified but it was a start (£18k again but living back at home)
2003 - Started as a trainee IFA (financial adviser) with Clydesdale - company car, £25k plus around £5k bonus. Qualified and salary went to £30k plus bonus unlimited on business written
2005 - Clydesdale did away with their independent arm and wanted everyone to sell their own products (NAB) - Didn't like that idea and again the manager was a total b**lend. Started looking for outs.
2006 - Got a job with a smallish firm in Glasgow - £32k basic plus unlimited bonus. More travel, late night appointments with clients but better "freedom". Earning on average around 40k.
2010 - Started getting a larger client bank and more renewal income from existing clients - Basic was still the same but bonus was on the up - £45k
2013 - First £50k year still with same firm.
2016 - Firm taken over by large multinational - everything resets, and clients I have built up as my own, were taken ownership by the new company and I lost a lot of ongoing income. Ensues some long winded legal/technical arguments over who actually owns the clients. I get paid a £15k "bonus" to keep things quiet and not take matters further with legal action etc. Shortly after this I leave and take the bonus and set up myself with all my clients. Again long winded legal issues ensue but they don't have a leg to stand on and I get start with all my clients and the "bonus"
2018 - 2 years self employed now - Earnings are unlimited for me as it's mine. I work hours I want, when I want, take kids to school, go to the gym, see my clients when I want/they want. First year self employed was around £60k, this year will be probably about 20% more than last year.

I could easily earn more by writing more business etc but that would be more time spent in front of computer/paperwork which is 90% of my job these days. I enjoy what I do, it can be lonely working from home but the lifestyle I have working from home and being able to come and go as I please is worth way more than busting my arse to make more money.
 
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