Given huge rent rises esp in London is anyone seeing graduate starting salaries increasing?

[Delphigirl]

Rents have gone up 45% in 3 years in some areas of London. My DD started on a grad scheme in 2019 earning £26k with 6 monthly small rises, but was able to rent a room in a flat in Clapham for £780 per month and still have a (frugal) life. The same rooms are now renting for £1100. Those that were going for £850 in her day are now nearer £1300 - Utilities and food are also through the roof.

But grad schemes that my DS is looking at are now advertising at £28000, which is only about £1900 after tax. How is that going to work? How can anyone pay utilities (minimum £250 pm), council tax, tube fares (£184pm) and food/toiletries/clothing out of £800 per month? Let alone have a social life.

Is anyone able to say if 2024 grad scheme salaries are likely to go up, or is London going to be full of young workers who (a) can commute from their parents house and stay living at home or (b) still have an allowance from their parents?!

I don't know if salaries are going to go up, OP.

2 young people I know have just started grad schemes in EC3 on £28k and £29k. Both are still living at home at the moment.

Clapham has always been pretty high end although I'm sure there are still flat shares for less than £1000.

Also there are lots of cheaper areas not far away?

I read a thread on this earlier https://x.com/jburnmurdoch/status/1718244492933816529?s=46&t=ZfUxWPsAQ-e6F9L_O7NK-A

Grads at the bank I work for (central London) start on £34k.

Really interesting thread @ACynicalDad , thank you.
So probably another manifestation of the Brexit effect then, stultifying the economy and availability of graduate jobs.

In finance jobs? That seems barely more than in about 1994!

You would think Brixton or Balham or Tooting or Southfields would be cheaper - but even shitty rooms in shitty flats in zone 3 and 4 seem to be going for £1000 a month. It is bizarre.

Trainee Solicitor salaries have risen significantly in the last couple of years. Some now in excess of £50k. Don't think that sector will move further but they are all VERY fortunate.