My 25 year old kid has a household income of 300k. AIMA

[ByFirmStork]

Questions welcome. He’s from a poor northern comp.

Is that how you measure success OP? Does your DS know you’ve come onto a parenting forum in the middle of a cost of living crisis, to brag about your child’s bank balance!?!
Personally I’d rather my child was happy! Followed her dreams and strived to earn higher amounts, rather than being forced into it straight out of school. Nobody dreams of being a banker! 😆

It’s not jealousy love, it’s incredulity that any mother would brag online about their child being on a fairly average wage as a bloody banker! 😆😆😆 It’s funny, lighten up a bit!

It’s hardly a brag if you don’t know her in real life?

@BelleGibson Funny how immigrant Indians have predicted the future

Do you understand what an average is? The average Indian might be doing well, but there will also be lots of Indians who worked hard and are only doing average, or not so well; same as any other ethnic group.

They worked hard in factories, doing all possible overtime they could, my dad saved and invested, in the meantime instilling values of a good education and sacrifice.

Other people work hard. It is not something specific to your family.

I don't have the luxury of overtime shifts. I am on a fixed salary with no option for overtime.

I also save and invest, and I have a good education and sacrifice.

But I am not a high earner. Being a high earner involves a lot of nepotism and cronyism, as I explained before.

What’s to say the OPs son isn’t happy? Why can’t you earn a lot and also be happy?
I also disagree and think that many young people do dream / strive to have a high earning job like a banker.

it’s not a race to the bottom. On your basis no one would be able to comment on this forum at all. Advice for a £15k holiday - no sorry because some people can’t afford a holiday.
what car to buy under £10k? - no sorry because some people can’t afford only afford the bus.

There are plenty of educated, intelligent hard working people who either do jobs that are unfairly poorly compensated (nurses, teachers, doctors, paramedics, to name a few) or who hit bad luck and never quite reach their earning potential.

Being a high earner involves a lot of nepotism and cronyism, as I explained before.

But this seems a vast oversimplification. DH and I both came up in city law and I can assure you, neither of us knew anyone or had any hands up due to people we knew. There is quite a lot of unfairness in who is offered an opportunity for success, but at the same time, places like city law firms tend to be meritocracies.

@BelleGibson Belle, you can use the laugh reaction all you want, but it does not change the facts. There are lots of highly educated and hard working people across the country who have median earnings, and who do not have the luxury option of working overtime shifts.

If you think everyone who isn't a high earner has not worked hard enough, or picked the wrong field... get that out of your head. All people have their own personal circumstances and history.

Maybe they would like a banker's salary doing something else instead?

Does he go to talk in his old school or get involved in speakers for school?

Then they wouldn’t have any interest in this thread at all

If you think everyone who isn't a high earner has not worked hard enough, or picked the wrong field... get that out of your head. All people have their own personal circumstances and history.

I agree @shuggles
I see this narrative on MN all the time, especailly on the higher education threads.

Not everyone want to be a banker or lawyer and not everyone wants to live in London. It doesn't mean that they lack aspiration. DD has a medical related degree and is studying a medical/healthcare related masters that will practically guarantee her a job.

She would love to earn a bankers salary working for the NHS, but she has absolutely zero interest in banking or law. She is a very hard worker and I am very proud of her work ethic. She did extremely well at GCSE and A level, graduated with a first class STEM degree in the top 25% of her cohort from an RG university (if that means anything to anyone these days) and is currently performing extremely well at her second university in her masters.

I just wish there was a little more parity in salaries between banking/law and other just as worthy (or even more worthy depending on your point of view) careers.

I hope he’s saving as much of it as he can OP. DH and I have had long (25y +) careers in investment banking and as of last week, we’re on our 4th redundancy between us (mine). I’ve advised my DC to steer well clear of banking, being under constant threat of redundancy makes for a pretty miserable life in my experience.

I thought AMA threads were all about answering posters questions. Funny that.
... No sign of the OP after starting a thread with minimal effort on a goady topic, on that basis I'm not investing any of my time.

I completely agree those salaries should be higher, but how could we ever get to seeing more parity with banking and law? It's not that I'm disagreeing, but I don't see any route to that happening, so curious if you do.

that went well OP…

Is he a drug dealer?

Not every banker is on that sort of salary...moreover, most of those who do never quite make it to anything like retirement age. These are often high stress / sell your soul jobs with zero job security (if your numbers don't stack up or the market environment changes, you get the sack, a box for all your personal belongings and a security guard to escort you out). The sensible one would save up and have an exit plan in place. I'd definitely advice my child to do that if I were you, OP.