To be nosy? (Shameless post)

[StandingLikeATRex]

I'm a long time a lurker and a recent poster.

Myself and DH are young (late 20's) (trainee) professionals. We are still at the very early stage of our careers, (think work experience, cups of tea, applying for placements) he is retraining and I've been working up.
We've been chatting about buying our first home together and how much we can afford, we've realised this is not very much. It's disheartening to know that I may never be able to afford the type of home/life that I want.
We aren't from traditionally professional families (working class) and don't know too many wealthy people.
So....I'm curious to know what sorts of careers people go into (it doesn't have to be you) how long does it take to get to a comfortable salary, what do wealthy people do? And how do they become wealthy? (Haha please don't send me those earn £,000,000's at home links)

Shall I retrain as my job has a ceiling and I will never earn 6 figures, what should I do, what would give me the best chances?

I've also been asked by a family friend to give advice on university courses that lead to good jobs. none. and that got me thinking more about this.

Don't wipe the floor with me please

[stopgap]

I'm a Brit in America, so the perspective may be a little different.

Lawyers can earn a fortune (from reading these threads, I'd say more so as a lawyer in NYC than in London). But you have to be in London or NYC, and initial 80-hour weeks as an associate may (if you're really, really fortunate, after 9-10 years) give way to partnership, where the riches are immense (equity partners in NYC earn $800k on the low end and $6-8m on the high end) but the stress levels only increase when you are managing your own clients, especially when they're a multinational, private equity group etc.

I'd say that the other obvious choices are banking, IT, private wealth management, certain medical specialities (plastic surgeons and neurologists, in particular) and property development.

[Cocklodger]

We're in the top 1 percent, also have a tidy property income.
It took 10 years of having no home life. No exaggeration, sometimes I didn't see DH awake at all, I'd just get sleepy cuddles and that was it really. I once went 37 days without having a face to face conversation with him... We'd work opposite shifts, he'd be away a lot. It nearly broke us at times, but he's a business owner, I'm a junior manager, and now he works 12 hour days 3 days a week and is "on call" of sorts for another 1, which is heaven to us now. But it took a lot of shit to get where we are now. We're moving abroad next year where his income will be about 500k pa GBP taking the exchange rate into account and selling up our properties as a nice little nest egg.
We are rich yes, but we've missed out on a lot of things together. We didn't have a honeymoon, never holidayed together, he was never home for Christmas, Valentine's or my birthday etc and it always haunted me as I thought well, if DH got hit by a bus tomorrow all I'd have is a bank account, very few photos, no memories etc. It's very different now but if I could go back I'm sure I would've told him to pack it the Fuck in...

[Superstar90]

Economics, law medicine. Suggest the city/banking thr only ones of these to earn thr big bucks and keep a relatively decent work/life balance.

London had the big salaries.

If you don't fancy banking then working for yourself doing plumbing/taxi driving etc can you a decent enough wAge.

Most people get their big house in the country through property investment or family inheritance/help

Think you are quite clever thinking this strategically about the life you want

[Superstar90]

Oh there's ways in most professions to earn a little more than the norm. If you were training as a nanny you could do night nannying or a nurse you could work privately instead of for the nhs

[MyPeriodFeatures]

Just thinking about people I know.

Um, someone I know was an HCA. She and her husband imported cookware. They are now multi millionaires.

Had a friend who was a solicitor. She was a slave to her firm, under constant pressure, now earns a fraction and is much happier.

If you are dreaming of being a doctor in a & e, be very aware it is actually a living hell. A friend of mines husband did that work. It nearly killed their marriage and is absolutely nothing like the tv.

[citychick]

superstar we are in Asia for a few years and some of the western nannies I have met earn around £50k a year. But they give their hearts to the kids and their souls to the parents.

Personally I think hard work, drive, determination and pure luck have a lot to do with it.
Don't forget the soft skills too. I have met many a wealthy charmer. More charm than brains.

Are you entrepreneurs? Do you think you could spot a gap in a market and fill it? A chap from my UK home town started off selling radios out of the back of a van. He's now a multi millionaire.

But yes, I do think the professional careers such as the law, finance, medicine etc are where the cash is. But you REALLY have to work for it.
And as PPs have said it take years of dedication to get there. And your home life may well be a failure if you can't juggle both.

Good luck.

[waitingforsomething]

DH and I are middle-earning professionals in our early thirties. The only way we have made money to have the material goods we have wanted is to do the expat thing. While I was still training for my career int he UK, DH (We weren't married at the time) spent a year in a far away country supervising an engineering project on-site. He had shared accommodation, food provided and saved pretty much his entire salary which we put as part of a deposit on a large house where we wanted to live. fast forward 7 years, 1 wedding and 2 children and we are doing it again to earn the money we want to pay off a large chunk of our mortgage, have an extension and re-do our kitchen leaving us money to spare. This means being expats (which we don't like) in Asia and taking advantage of a package and both working full time. Don't like it much but I'll be home in 6 months time and will have the money we want.
We probably won't be rich in the six figure sense anytime soon but our salaries are elevated here and many of our expenses covered.
You could consider working abroad if your or your DHs job allows.

[daisychain01]

Imo you're putting the cart before the horse, by looking at the "haves" and asking yourself how they made their money.

You need to do an audit of your personal qualifications, skills and abilities and then work out what job roles are out there that are a good fit to you. And maybe cover any skills gaps along the way. Everyone on here has their own skills that won'tnecessarily match your's.

Eg if you are useless at computer programming, someone on here telling you " I make a fortune in software development" Isn't going to be of much help, is it?

Chasing after a pay packet in other words, is a waste of time. A better question to ask is, "I'm great at X" or " I have Y qualifications/experience, how can I use those skills to make a good living".

Job success is a combination of hard work, serendipity being in the right place at the right time, taking risks, making sound choices and a dollop of talent thrown in for good measure!

[citychick]

OP why don't you think about the expat life for a while?
If you choose carefully, you can be very successful.
You are young with no dependants?
It may well take you a few years, but I definitely believe taking your skills abroad can boost your career.
I retrained as a swimming coach a few years ago, and I am now busier than ever! My skills set has expanded, my teaching methods have improved beyond measure and I am GOOD at it.
What got my foot in the door in Asia? A tiny qualification for teaching mums and babies. many teachers skip that qualification and head straight for the kids and adults.

My point is at your age it's all up for grabs. Don't discount anything. If you are determined to get big bucks, get lots of experience and maybe You'll have more luck abroad.

[frikadela01]

I see you've said you fancy being a healthcare professional. Doctors are the obvious example of the big money, however that takes many many years in training and then the years of being a junior after.
Just a warning though that other healthcare professions, while paid well are not paid the big big money unless you go into management. Most clinical roles are at a band 5 or 6 (between 21,000 and 35,000 per annum) any clinical roles above that are few and far between. It tends to be management from band 7 and above.

[onewhitepillowleft]

Trex you don't have to earn six figures to own a nice house in the North. You might never get your mansion with land and room for animals, but then again, most people don't live in a place like that.

I'm in my early 30s. I live in the north too. My house is worth 260k and we bought it last year. I earn 55k (I work in HE).

For most of my twenties, I was really, really, really skint. Studying, not being paid much, paying out what little I earned in childcare, and saving and scraping every single penny of the rest for a house deposit. I love my work but yes, I did sacrifice a social life and I am away from my kids more than I would like. My DH is a SAHD and that's an expensive life choice, so I look around at people who both work, or who don't have kids, and envy their lifestyles sometimes - I understand that grass is greener feeling. But then again - make the choices you can live with. One of my best friends still lives in a bedsit, works part time in retail, and spends the rest of her time making art and music. She'll never own a house but she's blissfully happy because she's doing what she loves.

What gives your life meaning? What are you good at? What is your own best way of contributing to the world? When you figure out what that is - go for it. Some people don't figure it out until later, and that is okay.

[CatNip2]

DH earns over 100k, can't say what line of business as very outing but he doesn't have a qualification to his name. Started at the bottom at about 19 and worked, and worked and worked. I am talking about sixty or more hour weeks from being 20 or so. He still works very long hours and travels lots and I have pretty much reared the children alone. It took probably 25 years of graft to get to that salary, so although our house is almost paid for, it is modest for the income we now have, kids are grown so no point having the big house now and we are now putting away the excess into pensions and enjoying nice holidays.

What I am trying to say is, even if you get to earn that amount it can be too late to have the things that you think the salary would give you.

Personally I think getting on Big a Brother would be easier and more lucrative than hoping for a 100k salary in the next few years. Lower your expectations, everything else is a bonus.

[Dontyoulovecalpol]

OP without meaning to be rude you're later starting a career which puts you on the back foot

I am an auditor. At your age I earned £30k ish and was just qualifying. After qualifying I moved jobs to £38k, next one was a sideways moved for £48k, had a pay rise within that to £52k.

Whilst in that job I got a mortgage alone for £230k and bought a £300k house. I was then promoted to a job as head of my department at £63k and now moved to another company doing the same role for £80k.

its not an easy job- I hate managing people and the stress and pressure is huge.

You sound like you're in media or something- back away, I had many friends doing this and they all had to change jobs later in life (although tbf that was not much older than you are now)


You just need to get into a well paid job. The idea is simple, the reality is you'll have to do it all day year in year out and be excellent at it.

[EarthboundMisfit]

I don't think it's a ridiculous question at all. I work in the NHS, and I'll never earn big big bucks doing what I do. Wish I could start over now I'm less idealistic! My best bet is Practice Manager on about 40k.

[Tequilamockinbird]

It is doable and having aspirations and dreams, is a good start.

I left school at 16. Fell pg with DD whilst doing an NVQ apprenticeship for £50 a week. No maternity leave, I gave up my job and moved to Income Support.

Like you though, I had dreams, not just for myself any more, but for my baby aswell.

I worked in a job for about 7 years which was going nowhere, smallish company, monotonous work, and 'ok' pay. We got by, we had some money left over for treats, but I was still living in a council flat, couldn't afford holidays, and wanted more.

I them applied for, and was offered, a quite junior role in a large multinational company. I accepted (even with a pay cut) knowing that I'd have more career choices in a company of this size. That was 10 years ago. Since then, I've worked my way up into a senior management position and my salary is very good. However, it hasn't been easy. I've worked a lot more than my standard hours every week. I travel for work a lot, and sometimes I'm only home at weekends. I do have my own house now which is worth approx the same as the house you want to buy OP.

My point is, if you have ambition, are prepared to work hard, and choose a large company which will give you the potential to further your career, then you don't necessarily need qualifications. And, you haven't left it too late.

[Tequilamockinbird]

Oh, and I agree with calpol. The stress and pressure at this level is huge. I always bring my work home with me, can never switch off. And quite often wake at 3am thinking about work and what lies ahead that day.

It's tough!

[metimeisforwimps]

Could you work overseas for a while? Healthcare jobs are well paid in places like the emirates, and if you chose not to live the expat life while you we're there you could save a large chunk of salary.

[mouldycheesefan]

If you are still a trainee making the tea in late twenties something has indeed gone wrong unless you have tried various careers or have had time out at some point e.g sahm. Was it law you studied and are you now a paralegal?

[TheDowagerCuntess]

I think you either have to have a natural talent or flair for something, or have the drive and ambition of a demon - to be successful and make something of your career.

And I do think you have to stick at something, and progress, progress, progress. You can stop and start again - that's generally not the route to riches.

The most normal + minted person I know is my DB who studied for something he turned out to be very good at, worked hard, got a great summer clerking opportunity on graduation, and then has just gone from strength/promotion to strength/promotion, and now has dizzying levels of seniority and salary.

DH doesn't have a degree to his name, but likewise has stuck it out, and progressed, progressed, progressed in his industry, and it's paid off.

I've had to have a career change due to emigrating, and while I'm now comfortable, it'll be a while before I'm minting it (if ever, since I'm simply not ambitious enough).

Good luck. I think your best bet is giving it all where you are now - if that's not palatable to you, and you really feel you need to start afresh, I reckon you'll be at least another decade before you'll be even comfortable, let alone coining it. That sounds depressingly negative - sorry. [flower]

[Wallywobbles]

Kids change your priorities until they reach about 10. Or this is my experience.

I also have found my 40s liberating. Ive lots of energy, ambition and drive now I'm less shattered. I've started (and shut down) a company and I'm now retraining as a programmer. Potential for travel, contract work etc I am in a stable relationship with 4 kids which allows me to view this as a possibility now.

[Dontyoulovecalpol]

Maybe OP you don't know what you want to do and that's why you've moved round a bit (I can only assume you haven't been tea girl since graduating 5 ish years ago) in which case- it doesn't matter what you do just choose something based on what you CAN do. Ie if you're not very smart there is no point even thinking about a legal or accountancy career. If you're shy don't look at sales (which a lot of city jobs are)

[WipsGlitter]

It depends. I earn a good salary for where I live (not London or the SE) but it's not over £50k. I am in my 40s.

A million pound house is probably highly unlikely.

Healthcare is not well paid - dicots and mangers yes, not the rest of them.

DP says he wouldn't want DS to do a "crappy arts degree" (like me!!) as it has no career prospects. I do tend to agree a bit with him. However he's just read The Rise of the Robots and says many careers will soon be defunct.

What do you do now?
What do you earn?
What are the career prospects?
What do you want to do? Why?

[DavidWainwrightsFeet]

There is money in sales and deal making but that doesn't sound like your cup of tea. There's money in law but it's a hell of a gamble, and the sort of banking that earns real money tends to require either massive self-confidence or extraordinary maths skills.

I think you'd be best placed looking for a strange niche office job nobody has ever heard of - managing or procuring or assessing or auditing or coordinating or purchasing God knows what, and the ultimate target should be to reach the top of that position and then be promoted into a board level position.
If your current employers are too small to have a C-suite then you should look around for one that does, then find people within that company who seem to have a promising career doing something nobody has ever heard of, especially if it can leverage your existing skill set (?accountancy qualification?). Then stalk your role model, tell them you want to move into their profession, ask to help them out, build up cv experience, apply for jobs in that field inside or outside your existing employers, and yes, if you want to build up cash fast then apply for overseas jobs somewhere you'll get danger/discomfort money and live like a student while you're there saving every penny.

[PBfingers]

It sounds like you are stagnating a bit in your current job and probably underestimating/lacking confidence in what you can do. Do you have anyone you would be comfortable discussing this is RL with? Maybe a manager/mentor.

Have you been applying for higher paid jobs in your field or elsewhere?

[dillyduck]

Dont be afraid to move on.

I was a graduate trainee for a large well known company - did well and was on a good trajectory but didn't enjoy it. Left and retrained. Took 5 years in new role to get back to previous salary level and that was only due to an amazing promotion where I jumped several levels. When I had my second child I took home less than my childcare and travel bill for about 3 months until 1 started school.

Early 30s I had 2 children and was earning £50k in my new role (nearly 20 years ago). Now earn well over the £100k that you aspire to.

There is nothing wrong with wanting to earn lots of money.