DH is ditching his city career. And his city salary. He will get a £25K tax free bursary whilst qualifying then I think the salary is just over £25K (minus tax and minus pension/union etc) for his first year.
DH says he has been reassured by Teach Now that his salary will increase by a couple of grand every year or so once he qualified so within a few (? how many?) years will be on early/mid 30K. But they are very vague with details. He has zero interest in climbing the management ladder in teaching - so although may take on some extra responsibility it will not be aiming for SLT etc. Can see online the paygrades - M1/M2/M3 etc - which give us the amount of £ - but not the timescales...how long to go from M1 to M2? M2 to M3 - is it yearly? Every 2 years?
We have MSE budgeted. With my salary as well we can cover essentials and a bit of saving for emergencies. Nothing for high days and holidays in the early years though.
He is staying in the city job for a few months so the plan is to save, save, save on the higher salary so we can "cover" the lack of holiday etc funds with a £3k/4k a year from this savings pot for a few years.
Makes me a bit uncomfortable - but it seems the best solution. But what would really help would be to know how teacher (secondary) salary actually does progress in the early years?
How much (roughly) in Y2/Y3/Y4 etc
In essence we need to work out how many years worth of savings are we likely to need before he is on 30K+? So we need savings 8K or 16K - what do we need to work on?
Thank you 