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Indeed, I have a healthy work/life balance at the moment and don't mind the travel but there may come a time where I've had enough.
The 5 year plan to £50k
- Thread starter FoxEye
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Indeed, I have a healthy work/life balance at the moment and don't mind the travel but there may come a time where I've had enough.
Soldato
Work life balance has always been the most important thing to me, as long as I have enough money to get by.
Time at home with the wife and kids and a job I don't have to take home with me is perfect for me.
Time at home with the wife and kids and a job I don't have to take home with me is perfect for me.
28 here, no degree, earning 48k basic with between 10-20% bonus. Insurance related career.
Partner has a law degree, 27, earning 42k basic, with similar bonus'. HR related career.
Pulling in 100k between us gives us a rather nice life. Kids within next few years.
My partner will be out earning me by some margin in 5 years time I imagine.
Both enjoy our jobs, hourish door to door on the commute, so could be a lot worse.
2.5 years ago I was earning 24k.. then I grew some balls
Partner has a law degree, 27, earning 42k basic, with similar bonus'. HR related career.
Pulling in 100k between us gives us a rather nice life. Kids within next few years.
My partner will be out earning me by some margin in 5 years time I imagine.
Both enjoy our jobs, hourish door to door on the commute, so could be a lot worse.
2.5 years ago I was earning 24k.. then I grew some balls
Soldato
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2.5 years ago I was earning 24k.. then I grew some balls
Expand?
Complete rubbish, one company =/= all UK companies. Four years ago I was on 23k approaching my mid 30's. I jumped on an internal training opportunity to skill up, delivered a successful tech implementation and company wide Windows 7 upgrade. Then took my skills to the marketplace, landed a 3rd line role with another company, worked hard, won another promotion and this year got awarded a 40k basic salary plus benefits. I did disastrously at A-level, dropped out of Uni, spent a good few years in casual work and on the dole so it does really show that it is possible to work up without qualifications.
Decided to move jobs basically. Was at the same place for 5 years. Wanted at least £35k, was pleasantly surprised when interviews came thick and fast. Ended up getting one for 39k. Confirmed my suspicions that I was being under paid.
Stayed there for two years until the company got bought. Got this new job 3 months ago with another nice little pay rise.
I didn't imply that it was a universal truth. But it's not complete rubbish, either. Just the other day on the news, an analyst was saying that the UK has become dependent on EU workers partly because many companies have cut back or stopped training and promoting their staff internally.
So I'm not just making it up
Soldato
Yeah I plan on keeping myself aware of my market value. Flexible to move pretty much anywhere too.
Yea I learnt the hard way. Didn't help that my partner being HR has access to all the salary benches. We both work within insurance. She was of a view that I was on the right salary there abouts but a ~£10k pay rise was ludicrous and I need to have my wings clipped.
Confidence, a decent looking CV, manners and some enthusiasm gets you a long way. Luck doesn't hurt either. (Obviously built around experience)
Soldato
I wouldn't say I have a huge work life balance at the moment, my day job allows me a nice work life balance, but everything else takes over from that. It's a choice though, and one that hopefully won't be forever. For example I'm home now, but working on my stuff. I've been with my daughter all day (boys are playing with their friends) so I try and balance it where I can. It's hard to do both though; push as much as you can in your career while maintaining a life with your family, too.
you've not left it too late - sure you're probably not suitable for an apprenticeship but as far as general tech jobs are concerned age isn't necessarily a barrier. But yes in plenty of areas the onus is on you to get yourself some skills, in other areas where employers generally provide or pay for training it can still be helpful if you've taken the initiative and started some form of training/got part way to getting the relevant qualifications.
(this isn't just at the start of your career either - it is up to you to do keep up to date, it is up to you whether to do additional courses later on that aren't necessarily relevant to your role but could be useful for the next one - post grad quals, MBAs etc... )
if you do decide to make a change and work towards a goal then I don't see what is stopping you - if you'd started 3 years ago you could have been well on your way to completing a part time degree by now (or perhaps even completed one if making use of credit transfer), you could have qualified as an IFA if that had appealed to you, you could have qualified as an accountant if that had appealed to you
as I said on page 2 I think the financial figure is silly and pursuing money for the sake of it isn't necessarily going to bring happiness, however pursuing some career related goal, seeking out something you'd like and putting yourself in a position where you're in demand for your skills and can get some more enjoyment/satisfaction from what you do is worthwhile
you seemed to want to make a change 3 years ago, you could still do so now, set yourself some goals/targets, pick a direction and go for it - hopefully if/when this thread gets bumped at years 4 and 5 you may be able to give an update like:
"I qualified as an IFA/I passed the first 6 ACCA or CIMA accountancy exams/I'm 180 credits into my OU or University of London degree/I passed my CCNA, Microsoft, Red Hat,... whatever exams.../I'm setting up a business doing X" etc..
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I didn't imply that it was a universal truth. But it's not complete rubbish, either. Just the other day on the news, an analyst was saying that the UK has become dependent on EU workers partly because many companies have cut back or stopped training and promoting their staff internally.
So I'm not just making it up
You right. I've seen it too. But nobody is going to gift it to us... we need to go and get it.
Man of Honour
28 here, no degree, earning 48k basic with between 10-20% bonus. Insurance related career.
Partner has a law degree, 27, earning 42k basic, with similar bonus'. HR related career.
Pulling in 100k between us gives us a rather nice life. Kids within next few years.
My partner will be out earning me by some margin in 5 years time I imagine.
Both enjoy our jobs, hourish door to door on the commute, so could be a lot worse.
2.5 years ago I was earning 24k.. then I grew some balls
Sounds good - well done on getting yourself forward.
100k between 2 is great, but once kids come around, and you're down to 1 salary for a bit, it gets a little harder - but as long as you're not too frivolous you'll still be able to maintain a good quality of life - especially if you're not in London.
Well done on being so forward looking and working hard.
It's a pity that moving companies is the only route to a big pay rise for most people.
Caporegime
Fox your issue seems to be wanting to find the perfect path instead of just picking something to focus on and going for it, so what if you don't like it once you land a job, you'll still be in a far better position than you are now. A massive percentage of our workforce don't like their job but I'd rather not like a 50k job than hate myself for being stuck on 20k or unemployed at 40.
Sounds good - well done on getting yourself forward.
100k between 2 is great, but once kids come around, and you're down to 1 salary for a bit, it gets a little harder - but as long as you're not too frivolous you'll still be able to maintain a good quality of life - especially if you're not in London.
Well done on being so forward looking and working hard.
Thank you
- live in the South East. We are putting money away for when babies come so we don't lose that quality. Also, thankfully, my partner is very career orientated. She can't see herself being off for more than 6 months, but that can all change. You're right though.. two salaries would be so much easier. However seems a lot of people think both parents working is lynch worthy.. and child neglect. (Viewpoint from some friends).
Infuriates the hell out of me.
My partner asked for a pay rise at end of last year after taking on a load more work. They said no and that she was paid a fair wage. Pay review came in April and she was given the standard inflation pay rise. She voiced her disappointment and they came back with the usual money is tight, paid fairly, etc.
I know I'm going to be bias but she is something else. Driven, smart, personable. Works bloody hard.
2 months ago she started looking and sure enough got a job offer in a different sector. Informs her employees and they pull an £8k pay rise out of their arses.
Fortunately she accepted and stayed as her company has just been bought and all her SIPP shares have crystalised.
I've always had this odd goal in my mind to be on 75k by the time I'm 30. Seemed very unrealistic without a uni degree.
I'm getting there and reached the magic 50k+ at 26yo without a degree. It's just me I guess, trying to prove my point to my mum and stepdad who said I won't achieve much without a uni degree
We'll see how the next 3 and a bit years workout.
Nice goal!
My aim was a salary double my age by 30. Unfortunately I just missed it, largely because I left the country and stopped working for a while. On the other hand I'm lazy and not completely motivated by money. I'd rather do things I enjoy, but I'm lucky enough that it pays well without too much stress or long hours. I do have a fair chunk of uni behind me though, and I recently just passed the "magic" four years of actually working.
The aim is to continue pushing towards double my age going forward (so £80k at 40, £100k at 50 etc.), but it's a very loose aim, I'd rather enjoy myself than work like a dog to achieve it!
Man of Honour
Thank you
You're right though.. two salaries would be so much easier. However seems a lot of people think both parents working is lynch worthy.. and child neglect. (Viewpoint from some friends).
Everything changes when you have your own kids, and you do what you need to do. YOu make it work, and whilst we're on one salary at the moment, we're still able to go on holiday, save, and life a comfy life. You just need to be prepared (as you seem to be doing anyway).
The only problem with earning more, is sometimes (often?) it brings more work and more responsibility with it, and potentially less time with family. Swings and roundabouts. I earn a good wage (I won't divulge as I feel uncomfortable doing so), but I seldom see my family during the week (up early, home late) but I love my job, and I don't mind working slightly harder as it's nice earning a good living... plus it means we can enjoy some luxuries! The weekends I make up for it and spend time with family.
When we're back on 2 wages, it should take the pressure off a little being the sole earner, and allow me to save more each month than I currently do, but also able to buy a few more bits and bobs!
In terms of progression, I'm also chasing further professional qualifications and development to allow me to be more discerning for future career path choices.
Nice goal!
My aim was a salary double my age by 30. Unfortunately I just missed it, largely because I left the country and stopped working for a while. On the other hand I'm lazy and not completely motivated by money. I'd rather do things I enjoy, but I'm lucky enough that it pays well without too much stress or long hours. I do have a fair chunk of uni behind me though, and I recently just passed the "magic" four years of actually working.
The aim is to continue pushing towards double my age going forward (so £80k at 40, £100k at 50 etc.), but it's a very loose aim, I'd rather enjoy myself than work like a dog to achieve it!
It's a good target to aim for!
What do you when you've exceeded doubling your age? 2.5? 3x?
Soldato
Nice goal!
My aim was a salary double my age by 30. Unfortunately I just missed it, largely because I left the country and stopped working for a while. On the other hand I'm lazy and not completely motivated by money. I'd rather do things I enjoy, but I'm lucky enough that it pays well without too much stress or long hours. I do have a fair chunk of uni behind me though, and I recently just passed the "magic" four years of actually working.
The aim is to continue pushing towards double my age going forward (so £80k at 40, £100k at 50 etc.), but it's a very loose aim, I'd rather enjoy myself than work like a dog to achieve it!
I used to have a target like this, and then it all went out the window. It's a great aim and really motivates you, but you can smash 80k at 40 no problem. If you have 5yrs left to get to 40, and you're just shy of 60k now, you should have seriously no bother. You'd probably get that in 2 with one strategic move.
Go smash it
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