If you have a child in their early twenties: what do they earn?

[PuppyDay]

DD wants to finish her degree, do a masters, then a PGCE to be a history teacher. Starting salary will be approx £32k with 5 years of student debt. It’s less than her cousin who didn’t get A-levels or go to uni and is doing marketing for a gym chain for £33k.

It got me thinking: what are the options out there and how much do they pay.

so what does your young adult child do and how much are they paid?

£45k

Recruitment

I think it’s short sighted to look just at starter salaries, as it doesn’t reflect the longer term career prospects / earning potential in different areas.

Is the Masters really necessary?

I thought the degree and PGCE would be enough?

She doesn’t need the masters.

It’s not necessary it’s just what she is interested in doing. I don’t think she understands what the debt will be like to live with for years.

I do think it’s a shame when teaching pays less than digital marketing for a gym. It’s not fair that the jobs that contribute the most to society often pay less than those with no intrinsic worth.

Teaching salaries go up very quickly though - I don’t understand why you’d put her off this.

You're being incredibly short term in your thinking.

Yes a starter salary for a gym in decent, but there's minimal career progression opportunities. Similarly, you'd likely make more working in Pret than taking on an apprenticeship, but long term to former would work out best.

If they wish to be a Principle or similar in time, the Masters will help and the long term salary benefits are high.

Teaching salaries generally go up each year as you move up the pay scale.

there are opportunities to move into management relatively easily - head of year or head/2nd in dept jobs. You often have to move school for this.

DD is 22 earns just over £30k, hasn’t set foot in a uni, got minimal qualifications and has the potential to climb the ladder and earn more!

I think 32k is a good salary for someone just leaving uni. It also sounds like she has a good career plan ahead of her, which should be commended.

My DS25 works for the police in digital forensics. He earns £32,000 but hopefully that will be increasing soon as he has applied for a more senior position within the department.

https://www.thecompleteuniversityguide.co.uk/student-advice/careers/what-do-graduates-do-and-earn

Graduate salaries (second chart down)

Obviously the gym currently feels that their marketing job has a certain amount of value, regardless of its intrinsic worth, and as a private company they are very happy to pay for that. Maybe next year they will change their mind and the marketing role will be made redundant. The public sector tends not to do that.

https://www.savethestudent.org/student-jobs/whats-the-expected-salary-for-your-degree.html#education

Another article about graduate salaries.

DD, 22, dropped out of uni, earns about £45k in restaurant management. DS, 26, has a degree but does a non-graduate job, earns about £40k, I think. Both in London.

DS, 24 earns 12k a year. Self employed drummer and drum teacher in London.

My ds studying compsci so far has been offered graduate jobs at £45k and £50k. He doesn't want either of them. In theory at least his salary could climb a very long way, if he eventually clicks with somewhere. He's planning to do a Masters, a lot of people do these days. He won't have the kind of job security teachers have, or the pension contributions alongside his salary, but I'm happy enough with how he's doing - as if it had anything to do with me!

I think her plans sound very good. I agree the debt is scary but a Masters could increase her options a good deal. It's an investment.

Marketing is actually very important and skilled. I'd start to think differently about work. What if she changes tack and wants to go into marketing, would you be upset, or constantly comparing her path to others?

Forget the masters if she wants to teach. Teachers are in high demand and it is not required at all! Just increasing debt.

A type of engineer £80k ish.

The teaching role will also come with a reasonable pension - the gym marketing role will not have a pension anything like as good. Teaching salaries also go up every year - might only be a low % but a pay rise is not guaranteed in the private sector. Your view is very short term looking only at the headline starting salary.

Save the masters for when she is further into her career and knows what kind of masters would advance it. She might hate teaching and masters can be a good way of changing career.

Dd 24 is on £37k. Marketing
Ds was on £66k at the same age. Lawyer.

@Istilldontlikeolivesas a new graduate?

For 6 years. Then 3 more if you get on the upper pay scale.