Page 11 | Earning £60k aged 23.

sandycracks · 2023-08-04T16:16:00+00:00

If someone told you that their child was 23 and already earning £60k, would you believe them?

LookingforMaryPoppins · 05/08/2023 12:51

Xenia · 05/08/2023 09:21

There are so many of us lawyers on MN there is always the risk these kinds of threads turn into discussions about our wonderful legal profession..... you don't need "an in" to get into those hard to get jobs. However they are very very competitive. The processes to get obtain a training contract require a huge amount of work (I applied to 139 firms and had 25 interviews (probably a record) before getting mine - 1982 was the worst UK unemployment for 50 years however.)

The process to apply will start during your degree. Having an "in" I suppose might mean you are on some disadvantaged people's programme which guarantees you an interview I suppose but being the son of the senior partner as an "in" would not work these days nor often in 1983 when I started work.

By the way not a law job but my ex cleaner's law graduate son (muslim immigrants, comprehensive school) has a job in financial services at a leading firm - I hope that does illustrates that the UK is a reasonably fair place for jobs in the City. It is not a perfect system but it is better than in some countries although in that boy's case his advantage was being in London. The white working class boys of my native North East England probably find it harder to get a job in a leading firm in London due to geography, poverty etc.

They are very interesting issues. My only point more generally for people is make sure your teenagers know that if money is important to them that there are a range of high paid careers ou can do and the process to get most of them starts in your teens usually with very high exam grades and a lot of hard work and lots of applications.

For law jobs people can do a google search of the big firm's name, linkedin and the "trainee solicitor" and that will throw up qite a few trainees and show you who they are and where they studied to get an idea of who is hired. They tend universally even if they are from the worst comp in Wales to have extremely high exam results eg a first even if from a particularly poor university but they came ot of poverty to get it.

Couldn't agree more. Yet another solicitor here, I qualified in 1998 having started my training contract in 1996.

I attended state school and was not from a privileged background. Obtaining a place to study law at university, then the LPC and then obtaining a training contract was super competitive however the opportunity was there if you didn't give up! I too wrote a ridiculous number of letters and had far more rejections than interviews. Many of my peers did give up and went into alternate professions.

When I started my training I do recall the partners all being very "posh" public school back then, and feeling very inferior.

The profession has changed significantly since then, partners come from many different backgrounds. Recently an alternate entry into the profession was introduced, on the job training from A level with a day at college each week.

The profession remains competitive and you do need good grades but I genuinely think it is open to all.

XelaM · 05/08/2023 13:01

LookingforMaryPoppins · 05/08/2023 12:51

Couldn't agree more. Yet another solicitor here, I qualified in 1998 having started my training contract in 1996.

I attended state school and was not from a privileged background. Obtaining a place to study law at university, then the LPC and then obtaining a training contract was super competitive however the opportunity was there if you didn't give up! I too wrote a ridiculous number of letters and had far more rejections than interviews. Many of my peers did give up and went into alternate professions.

When I started my training I do recall the partners all being very "posh" public school back then, and feeling very inferior.

The profession has changed significantly since then, partners come from many different backgrounds. Recently an alternate entry into the profession was introduced, on the job training from A level with a day at college each week.

The profession remains competitive and you do need good grades but I genuinely think it is open to all.

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Completely agree. One of the equity partners at my previous firm (City) grew up on an estate, left school at 16 and had 2 kids when she was young. She was absolutely amazing and is highly respected in her field. Several came through the ILEX route. It's a very competitive profession, but it's definitely open to all and there are many different routes into law.

PleaseGiveMeBackMySummer · 05/08/2023 13:06

@LindorDoubleChoc

I live in the Midlands and don’t actually know anyone of 23, 33, 43 or indeed 53 who earns this much.

Doesn't mean no-one does though, like you are trying to imply.

Most people you know don't tell people how much they earn! So how can you POSSIBLY know that no-one is on £60,000 a year?

I find it very hard to believe that you don't know somebody who's on £60,000 a year. What about head teachers? People in top management? Even a manager of a local McDonald's is on about £37,000. Some store managers in High Street shops are on even more. And they are often in their 20s!

Then there's people fairly high up on the ladder in banking and finance and insurance and commerce and law and medical etc and I.T... Even the world of entertainment (music/theatre etc) can earn that and more...

I'm absolutely goggled at the fact that you're trying to say that you don't actually believe anybody is on £60,000 a year. I know people on here say they are on £100,000 a year a lot ... and I struggle to believe most of them, but it's not THAT hard to believe that some people earn £60,000 a year. It's a good wage, but it's not astronomical.

LeonardCohensRaincoat · 05/08/2023 13:18

I do struggle with this.

I am London based and know lots of people in graduate level professions such as marketing, etc and they aren’t on anything like that.

Comms Officer ( grad posts) in the arts and charity sector are going for £20- 25now.

I’m on Reddit where it is full of CS grads talking about their struggles to get an entry level post.

Software developer posts in London are going for £25k

Teaching starts at £30k

So, law and finance - can believe there is more here but at 23? How wonderful is this person? What I can believe is that they are the daughter of the boss or something but unfortunately I struggle to see this salary with the the people I regularly meet here

XelaM · 05/08/2023 13:23

LeonardCohensRaincoat · 05/08/2023 13:18

I do struggle with this.

I am London based and know lots of people in graduate level professions such as marketing, etc and they aren’t on anything like that.

Comms Officer ( grad posts) in the arts and charity sector are going for £20- 25now.

I’m on Reddit where it is full of CS grads talking about their struggles to get an entry level post.

Software developer posts in London are going for £25k

Teaching starts at £30k

So, law and finance - can believe there is more here but at 23? How wonderful is this person? What I can believe is that they are the daughter of the boss or something but unfortunately I struggle to see this salary with the the people I regularly meet here

People on this thread have given many examples of firms that pay these salaries (and more) to graduates. These jobs are very competitive and hard to get, but people do get them.

Delphigirl · 05/08/2023 13:25

Mine is 25 and earning more than 60 so yes

Delphigirl · 05/08/2023 13:26

Chartered surveyor working in commercial property asset management, not a lawyer

LeonardCohensRaincoat · 05/08/2023 13:26

@XelaM

but what is it they offer that gets them the jobs? That’s what I’m curious about

OriginalUsername2 · 05/08/2023 13:38

WimbledonPimms · 04/08/2023 17:34

Mine does, probably more tbh I don't tend to ask. He works around 15 hrs per week self employed but also has passive income streams.

Nice! Is he in Tech?

XelaM · 05/08/2023 13:48

LeonardCohensRaincoat · 05/08/2023 13:26

@XelaM

but what is it they offer that gets them the jobs? That’s what I’m curious about

My brother had a First in Electro Engineering from Queen Mary, then a distribution in his Masters degree in Advanced Computer Science from Cambridge. He got an internship at Goldman Sachs whilst he was still at Queen Mary and then Goldman Sachs offered him a job after the internship. He has zero connections and just used the ordinary application process, but he is super smart and all his exam/dissertation results throughout uni were over 85/90%.

Yetanothernewname101 · 05/08/2023 13:51

A friend's child went into one of the 'big six' accountancy firms straight from uni at 21. His starting salary was £40k (in 1999) so I'd imagine that would be nearer £80k these days, so yes perfectly possible to be on £60k quite soon after uni.

XelaM · 05/08/2023 13:51

He is also very good at interviews and easily gets through the interviewing process. Something I was terrible at when I was younger

July2025 · 05/08/2023 14:19

Yes - entirely possible and believable

If I wasn't that close to them (and even then...) I would wonder why they were over-sharing their child's personal information though.

LindorDoubleChoc · 05/08/2023 15:04

Aaannyywwaayy - 263 replies and OP has had the inclination to come back and tell us why he/she posted . Could it be a windemupwatchemgoexercise maybe.

Giveover80 · 05/08/2023 15:11

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netbag · 05/08/2023 15:15

Yes. Sales

A couple of my friends, straight after leaving university, got jobs in telesales to tide them over the summer, but actually ended up making a lot of money and stayed for a while longer than intended. It was the sort of sales job not requiring any qualifications either.

Ihateboris · 05/08/2023 15:28

My friend's 23 year old daughter earns £150k per annum. She's an escort. The reason friend knows how much she earns is because she does her Tax Return. She lives in the North West. So, yes, it's possible. Just to add, friend hates the fact her daughter is an escort!

RedToothBrush · 05/08/2023 15:37

LeonardCohensRaincoat · 05/08/2023 13:18

I do struggle with this.

I am London based and know lots of people in graduate level professions such as marketing, etc and they aren’t on anything like that.

Comms Officer ( grad posts) in the arts and charity sector are going for £20- 25now.

I’m on Reddit where it is full of CS grads talking about their struggles to get an entry level post.

Software developer posts in London are going for £25k

Teaching starts at £30k

So, law and finance - can believe there is more here but at 23? How wonderful is this person? What I can believe is that they are the daughter of the boss or something but unfortunately I struggle to see this salary with the the people I regularly meet here

Why are you surprised by low salaries in the arts and charity sector? Teaching is public sector so not going to be massively well paid.

And software development is a mixed bag ATM. Bog standard developers with nothing that marks them out are ten a penny with a bunch of redundancies not helping. But anyone who shows promise / has something about them/ interviews well should be entry level above £20k. If it's really that bad in London they should seriously consider relocation to the North cos they won't be on less.

Giveover80 · 05/08/2023 15:42

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Ihateboris · 05/08/2023 15:53

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Personal Therapist!

Basketofbobbins · 05/08/2023 15:54

Yes, if they had been to university and were a trainee lawyer or management consultant/banker on graduate schemes then yes.
If they hadn’t necessarily been to uni but were something like an Estate Agent in an upmarket area, or sold new cars and were on commission and good at their job then also yes.

Namechangedforthis25 · 05/08/2023 16:18

LeonardCohensRaincoat · 05/08/2023 13:26

@XelaM

but what is it they offer that gets them the jobs? That’s what I’m curious about

Getting top grades at school, getting a first from oxbridge or equivalent, doing well at interview and assessment day and then a little bit of luck due to each place being oversubscribed

also it’s the case that you make 50 applications you may be able to get somewhere if you have the grades - it might not be GS or a magic circle law firm though

Namechangedforthis25 · 05/08/2023 16:23

PleaseGiveMeBackMySummer · 05/08/2023 13:06

@LindorDoubleChoc

I live in the Midlands and don’t actually know anyone of 23, 33, 43 or indeed 53 who earns this much.

Doesn't mean no-one does though, like you are trying to imply.

Most people you know don't tell people how much they earn! So how can you POSSIBLY know that no-one is on £60,000 a year?

I find it very hard to believe that you don't know somebody who's on £60,000 a year. What about head teachers? People in top management? Even a manager of a local McDonald's is on about £37,000. Some store managers in High Street shops are on even more. And they are often in their 20s!

Then there's people fairly high up on the ladder in banking and finance and insurance and commerce and law and medical etc and I.T... Even the world of entertainment (music/theatre etc) can earn that and more...

I'm absolutely goggled at the fact that you're trying to say that you don't actually believe anybody is on £60,000 a year. I know people on here say they are on £100,000 a year a lot ... and I struggle to believe most of them, but it's not THAT hard to believe that some people earn £60,000 a year. It's a good wage, but it's not astronomical.

If you believe people are on £60k, why is £100k such a stretch when many people in London get that in certain sectors - law, finance, senior in marketing

in London it’s really not a stretch at all. A man who gets 150k in London isn’t even in the top 5% of earners in London…

ErrolTheDragon · 05/08/2023 16:56

And software development is a mixed bag ATM.

Always will be, I'd have thought. It's irrelevant to this thread that some are low paid - the point is that some aren't.

Dixiechickonhols · 05/08/2023 18:14

LeonardCohensRaincoat · 05/08/2023 13:26

@XelaM

but what is it they offer that gets them the jobs? That’s what I’m curious about

https://www.chambersstudent.co.uk/where-to-start/newsletter/law-firms-preferred-universities

City law entry isn’t because daddy knows someone.

It’s very competitive with detailed applications and recruitment exercises. Most applying to be trainees will have been through similar process just to get vacation placement experience.

The top firms recruit from a relatively small pool of top Universities - see link. Those students invariably will have top grade academics.

City law is a world apart from other law jobs. Minimum recommended salary for solicitor trainees is £20,217 outside London and £22,794 in London.

Law firms' preferred universities - Chambers Student Guide

The student’s guide to careers in the law. Gives the truth about law firms and the Bar. Based on thousands of interviews with trainees, pupils and market sources, this site offers the full package of careers...

https://www.chambersstudent.co.uk/where-to-start/newsletter/law-firms-preferred-universities