The 5 year plan to £50k

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This talk of overtime... it's such an odd concept to me. I mean, I get it, but doesn't it just encourage inefficiency?

The more efficient you are the less money you earn. Obviously there must be some corresponding way of measuring performance that makes it appropriate.
 
depends how it is paid, if someone is a paid by the hour type or unionised in a low skilled/semi skilled role then they'll probably have a clock on/clock off attitude and if they're working on a production line etc.. then (I'd assume) they're going to be fairly consistent so working an hour or two extra and getting paid appropriately for it can make sense

yup it makes less sense for someone in a more professional environment with say project work and various deadlines for different things which span several days or weeks at a time

the other area where it can make sense is antisocial hours - again though it is probably skewed towards being beneficial for grunt work rather than higher paid work - i.e. maybe you're a techie and have to come in and work through the night or perhaps you need to be available over the weekend either working or perhaps on call - on a regular basis this sort of stuff might attract a regular shift payment on an adhoc basis it might be more like overtime + day in lieu

on the other hand if you're a 20-something analyst in investment banking or similar and need to work late or come in on the weekend regularly then you'll just have to suck it up - you'll be getting well rewarded for it eventually anyway (though there are moves to try and cut the hours and this sort of culture a bit, having interns ending up dead as a result of overworking generates really bad publicity for an industry/execs that are already very conscious that most of the population despises them)
 
In the 65 pages of this thread, has anyone recommended passive income? Judging from the limited facet of OP's personality displayed on the forum, I think it'd suit better than a plan of X years to get Y pay cheque. Getting into property with a basic income of 27K and living with parents should be doable. Consider teaming up with friends or family for a quicker return. A better paid job won't necessarily address any of your existential woes, and will likely mean even less control and freedom over how you choose to allocate your personal time.
 
the OP is very much against BTL landlords AFAIK (not that I'm a huge fan of them myself but I can at least see it being a useful thing for some % of homes to be BTL or similar)
 
Dunks said:
Is it that easy to get a training contract at a high street firm? It took an insane amount of effort and vacation schemes for my GF to finally land a training contract at a City firm in London, but I'm guessing they're the most saught after! She'll be earning double what I'm on in a few years so I can understand why :( :o
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Yep, a TC at a good firm in London is a completely different kettle of fish - unless you're incredible on paper it's uber-competitive.

I'm not saying it's not competitive to get a TC on the high street, but they'll naturally have much lower requirements and standards.

To be honest, they're different jobs altogether - working at a City firm is interesting work (depending on what you qualify into), good pay, but stress and long hours/always on, whereas a high street firm is more laid back, but lower pay and not particularly interesting (in my opinion).

I've got friends at high street firms and they enjoy it - they work 9-5.30, and get reasonably paid, but nothing more than that. It depends what you're after really.

Edit: but the point of my message is that even though your gf probably went through hell to get a decent TC, it's worth it if she enjoys the law. It can be a fascinating career.
 
manic111 said:
Yep, a TC at a good firm in London is a completely different kettle of fish - unless you're incredible on paper it's uber-competitive.

I'm not saying it's not competitive to get a TC on the high street, but they'll naturally have much lower requirements and standards.

To be honest, they're different jobs altogether - working at a City firm is interesting work (depending on what you qualify into), good pay, but stress and long hours/always on, whereas a high street firm is more laid back, but lower pay and not particularly interesting (in my opinion).

I've got friends at high street firms and they enjoy it - they work 9-5.30, and get reasonably paid, but nothing more than that. It depends what you're after really.

Edit: but the point of my message is that even though your gf probably went through hell to get a decent TC, it's worth it if she enjoys the law. It can be a fascinating career.
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Yeah she loves it, but the hours seem pretty horrific sometimes but the work seems really interesting and the pay and other perks are pretty great. Some of our mutual friends are at high street firms in smaller cities and from what I've heard it just seems to consist of boring residential transactional conveyancing work :p But each to their own.

Law is something I probably would have enjoyed, I'm still not sold on this Engineering malarkey as a career :p
 
dowie said:
the OP is very much against BTL landlords AFAIK (not that I'm a huge fan of them myself but I can at least see it being a useful thing for some % of homes to be BTL or similar)
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He could be the ethical one? Without rent-gauging, there's still money to be earned. I do also assume he would play above the board, no sublet scams and pay his taxes. Riskier options exist too, but on balance require more effort, upfront cash and knowledge. Say, becoming a franchise re-seller, politics->consultancy, running a call centre, developing yet another CRM system, or outsourced services in general. I recall the shout about one guy cleaning ovens in this thread - stranger things can make money; find one thing people hate doing/spending time on, and do it; then hire people to do it for you; then live your life. Once you have some self-sustaining wealth, Buffett's advice of just parking it in an index fund isn't silly at all for hands-off comfort in later years. The OP can then dedicate his time and resources to building affordable housing, political causes and economic reform, at least at local level. Likewise, at the end of his life he can release all of his economic potential back into the system as opposed to passing it on as inheritance, if he so wishes.

Otherwise, a non-job on 27K should be sufficient to develop productive hobbies and other interests.
 
Dunks said:
Yeah she loves it, but the hours seem pretty horrific sometimes but the work seems really interesting and the pay and other perks are pretty great. Some of our mutual friends are at high street firms in smaller cities and from what I've heard it just seems to consist of boring residential transactional conveyancing work :p But each to their own.

Law is something I probably would have enjoyed, I'm still not sold on this Engineering malarkey as a career :p
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Yeah it really is each to their own - I know someone that works in residential conveyancing and it suits them perfectly. Pretty good pay I'd say and 'more or less' 9-5, giving you you evenings. That said it pretty stressful stuff in its own way (typically logistically awkward) and I'm not sure I could deal with the moronic general public. Meanwhile, I work in large firm for commercial clients. I'd suggest it's probably more intellectually stimulating and it does pay well but, as mentioned, working hours can be death and it pretty much confines you to living at the weekend (can't leave the office until things are resolved), which often translates to 'extreme not-fun'.
 
Nitefly said:
Yeah it really is each to their own - I know someone that works in residential conveyancing and it suits them perfectly. Pretty good pay I'd say and 'more or less' 9-5, giving you you evenings. That said it pretty stressful stuff in its own way (typically logistically awkward) and I'm not sure I could deal with the moronic general public. Meanwhile, I work in large firm for commercial clients. I'd suggest it's probably more intellectually stimulating and it does pay well but, as mentioned, working hours can be death and it pretty much confines you to living at the weekend (can't leave the office until things are resolved), which often translates to 'extreme not-fun'.
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Ahh, yes, the 'but we're a business' chestnut. Everything is the highest priority, etc. Sometimes it's amusing to watch how there is no feasible way of increasing the hours in the day by simply throwing more money to the legal team to escalate things. :p
 
datalol-jack said:
He could be the ethical one? Without rent-gauging, there's still money to be earned. I do also assume he would play above the board, no sublet scams and pay his taxes. Riskier options exist too, but on balance require more effort, upfront cash and knowledge. Say, becoming a franchise re-seller, politics->consultancy, running a call centre, developing yet another CRM system, or outsourced services in general. I recall the shout about one guy cleaning ovens in this thread - stranger things can make money; find one thing people hate doing/spending time on, and do it; then hire people to do it for you; then live your life. Once you have some self-sustaining wealth, Buffett's advice of just parking it in an index fund isn't silly at all for hands-off comfort in later years. The OP can then dedicate his time and resources to building affordable housing, political causes and economic reform, at least at local level. Likewise, at the end of his life he can release all of his economic potential back into the system as opposed to passing it on as inheritance, if he so wishes.

Otherwise, a non-job on 27K should be sufficient to develop productive hobbies and other interests.
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Ah my comment was specifically re: BTL, I don't doubt that becoming self employed can be a great way to improve your situation financially, however it also requires a heck of a lot of motivation and hard work in a lot of cases, if the OP is lacking motivation (or at least seems to have been for the past 3 years) then it might be even less feasible than simply picking a career path/goal and working towards that.

Maybe it could work, maybe someone not motivated to find a career working for someone else will be much more motivated if working for something themselves and risking their own capital.

I do think though that a random person who is already in work, already quite motivated, has a positive attitude, putting in the hours/effort and feels held back/not achieving their goals as an employee would likely make a better go at being self employed than another random people who isn't in work, isn't feeling very motivated in general, has a negative attitude. I think they'd simply have a higher chance of success with all else being equal, but yes perhaps it is an option for the OP to consider.
 
datalol-jack said:
Ahh, yes, the 'but we're a business' chestnut. Everything is the highest priority, etc. Sometimes it's amusing to watch how there is no feasible way of increasing the hours in the day by simply throwing more money to the legal team to escalate things. :p
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Quite - unless its a 'due diligence' exercise more people does not automatically equal faster!
 
Spook187 said:
Sorry I don't know which bubble you live in, I see this day in day out people working like the poster said, it's not nice, and this country wants us work like dogs until 68 doing hard graft for peanuts.
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I'm sorry, but this is nonsense.

For a start, if you are doing an 8-10 hour day of back breaking work for a pittance, you certainly won't be doing a 6 hour commute to do it.

3 hours each way anywhere north of the M25 is going to be AT LEAST 100 miles each way by car.

Nobody is commuting that distance, or that long for a pittance.
 
dowie said:
Has the OP ever confirmed or denied that he is a 'furry'?
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He got sassy with me when I mentioned it a lot - and to be fair it WAS a lot because it was so blatant and hilarious - a few years back. Sometimes the best scenes write themselves.
I won't point you to the posts but you know how search works if you have the patience and inclination. They're not redacted.
 
[FnG]magnolia said:
He got sassy with me when I mentioned it a lot - and to be fair it WAS a lot because it was so blatant and hilarious - a few years back. Sometimes the best scenes write themselves.
I won't point you to the posts but you know how search works if you have the patience and inclination. They're not redacted.
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Not all of us want big data to have us categorized as furry searchers...
 
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