How do middle-class people attain those lifestyles?

[YourPoisedFinch]

Young professionals on 30k a year, multiple holidays a year, parties, concerts, outings etc. ... how do they afford it?

So why are you doing a masters in economics?

to work for the civil service... high pensions, hard to get fired than private and relatively stable compared to the world of private sector work

We live very frugally in order to spend on holidays, concerts and days out.

Have you worked on your mental health @YourPoisedFinch . You can still get fired in the public sector ,lift your mental health impacts on your ability to do your job etc.

UK statistics do not bear out the claim that the majority of young people earn considerably more than £30k.

Here is a fact check: According to the latest (Office of National Statistics) ONS data for January 2024, the median monthly earnings across all sectors in the UK were £2,334, an increase of 6.4% compared to 2023. This is equivalent to earning an annual salary of £28,000 before tax.

Employee earnings in the UK - Office for National Statistics

That is a fallacy re. hard to fire. As for the pension, given the state of the economy, don't bank on it not being made less attractive as has been done over the years.

The pay is considerably lower than the private sector though and the opportunities for progression are much more limited than they used to be. It's stable but very unglamorous, which based on your OP seems to be important to you.

Nobody was commenting on the majority of young people. The OP was talking about young professionals. Which implies graduates in professional careers. The majority of which will be earning in excess of the statistics you quoted.

but which industries can i enter to with my msc in economics? that are glam. i tried IB but did not get in

So most of the young people in the UK are NOT professionals? Are we a nation of low wage, manual workers? The vast majority of young people go to University and if you are saying most are then not professionals, then this country is in serious trouble.

What do you class as a professional?

Even if you look at the London region which is laden with professionals, the median is less than £50k.

@Bleachbum so why are the middle classes getting poorer and home ownership moving out of reach?

This includes those working part time, and working in 'unskilled' industries though.

Professionals ~ aka recent grads ~ are a different subject matter all together. My company pays about £70k for grads and you can easily be on 6 figures within a few years. Unless you've gone into an industry like healthcare/some civil service/the arts/charity, you'd be expecting to earn more than £30k as a starting salary, let alone with a few years professional experience under your belt,

harder than private sector, more tolerant about autism in the public sector, doubt they can lower the pension, the fast stream gets u from heo to g7 in 3.5 years, g7s are on over 65k in london

what industry r u in? i was in the big 4 and it was 32k for grads in manchester

I am 25 .. hardly a parent

But even if you look at the hourly wage (so accounting for part-time) it is still not true.

@YourPoisedFinch That wasn’t directed at you.

So from my experience when I was in my 20s I was in a job earning £24k- £28k and I felt far richer than I did now earning £40k. Mainly because now I have a mortgage, car and other outgoings. Whereas I was a lot more carefree in my 20s. Once my rent and bills had gone out, the rest was mine... I didn't have a car until I was 25 so there was that too.

In my 20s, things were a bit cheaper but I was in a cheap house share, would prioritise experiences and going out over other things but I still lived to a budget, I.e. bringing in home lunches and have a few drinks at home to avoid paying for things while I'm out. I did a lot of travelling on an absolute shoestring and still saved £200-£400 a month. Some people here thing that it wasn't possible but it absolutely was.

I’m not sure if that is true, but regardless, when considering the career you want to have, you can’t have it all.

If you want to earn very well then most of the time that comes with having a career that is high-pressured, competitive to get into, and you’re out on your ear quite quickly if you don’t perform. This is especially true at the start of your career.

If you want a role that is slower paced, not a lot of pressure, less taxing on your on your mental health, very stable and even workload, then you don’t get the high pay cheque or potential for career progression.

Neither is the right way or the wrong way but there are virtually no roles/careers where you can have the best of both.

It's the job they do that matters, not their degree. Someone with a degree working in Tesco or in a bar/cafe, or doing care work, ISN'T a "young professional" as they're basically doing minimum wage work that didn't need a degree.

Lots of young graduates do minimum work NON professional work as an interim measure whilst they're applying for professional jobs. A year out after graduation is very common.

... and to help you even further with the part-time issue; have a look at this from the ONS. It breaks it down by part-time vs full-time and you can also look at the .cvs files to break it down by region, etc. The data is at your finger tips.

Employee earnings in the UK - Office for National Statistics

Big 4 pay has definitely stagnated

My son and his partner are on around 32 and 27k
not careers type jobs but stable and plenty of overtime if they want it

my son got a big inheritance so put a large chunk down on a gorgeous house in an expensive city where we live

he has a newish car that he bought

I basically paid for all the furniture in the house that they needed from carpets beds shutters tables garden stuff all the white stuff
probably around 10-12k

they have a lodger that’s they are using to pay of a big chunk of there mortgage each month

always have plenty of money for weekends away / holidays

last Jan while they were waiting for to buy there house they did a month long holiday in Thailand and Aisa and still had another 2 weeks in canaries later in the year.

But they are only 26 & 30 and have had huge advantage with a big deposit

The fast stream only gets you from HEO to G7 in three years if you pass the assessments along the way. Many don’t, and additionally, many drop out to take an HEO or SEO job en route.

And G7s in London are only earning over 65k in a few departments e.g. HMRC, maybe Home Office. It’s 55-60k for most.