If you are minted....

[FeralBeryl]

*What is your/ partner's career or job?
*
Not a TAAT more a TIBAT (inspired by a thread)

Someone has a monthly take home pay of £11k
Not going to lie, I fully intend to suddenly obtain the necessary qualifications overnight for whatever it is. sure there'll be an online course....

I know there will have been a great deal of sacrifice, no work home balance etc. I'm not wanting to judge at all-I'm enthralled

Please.

DH doesn't earn £11k every month but with the anuual bonus is on not pretty much that. He did an engineering degree at Uni, started off as a buyer in a car parts organisation before moving through a series of management roles. He now does no engineering at all and is in senior management for a large company with responsibility for development - strategy, looking at new ways to do things, getting bits of the company working better together. We are not in the SE of England so money goes further but we're not living a footballers' wives lifestyle.

I think it's about being highly educated / trained & experienced in a difficult & ideally niche area or being willing to take a big step & take a risk with a business of your own. Either way it usually requires a mahoosive amount of work!

Medical Devices consulting business

DH is an IT project manager consultant for a bank and earns around 11k a month.

He works from home a few days a week and his hours are generally 07:30am to 4:30pm. We are very very lucky that he gets to spend time with the family.

In our circle, the people who are extremely well off work in Investment Banking, Hedge Funds or own their own business. A couple others have family money and don't depend on their careers to finance their lifestyle.

I was just reading "The Year of Living Danishly" and thinking how we have to account for earning potential when choosing what to study/where to work.

Whoops posted too soon. Husband works in research and development and brings home more than 11k a month but doesn't work crazy hours at all. His schedule is flexible and he's around quite a bit to help with the kids etc. I used to make the same working in Clinical Trials. I only have an undergrad degree.

I am a writer, DH is a lawyer. We also have income from other things.

We are both very successful in our fields and earn a lot of cash ( which we have used quite shrewdly).

Working hours are mixed and pretty flexible. The idea that we don't see each other or our DC is far from the truth. It's more about maximising on particularly high valued skills.

Me and DH have a consultancy business. £11k some months but then some months only a couple of £k if we have taken time off.
Could probably be more if I wasn't part time due to the DC.

There aren't many people that are earning over £200k (which is what you need for £12k net a month).

For example - in places like the big 4 accountants in the higher earning sectors like deal advisory, the structure is equity partners, salaried directors, associate directors, managers, associates, executives. Obviously there are various bands within each.

Partners are on £250+ up to mega bucks for the top dogs. There are not many top dogs relatively speaking.
Directors are not generally on over £200. There may be some instances where they are but mainly start around £100-£150 plus bonus.
Associate directors are on £75-85 plus bonus. In the 'good old days' you'd have been talking about bonuses of £50k now £10 would be 'OK' to £25k would be good.
Managers around £62-£68 plus bonus.
Associates £52-£56ish and they don't really get a bonus, maybe £1 or £2k.
Executives (new grads) well actually no idea what they get paid now.

There are an awful lot of people on the bottom of the pyramid and not a lot of people sitting as an equity partner.

We used to earn that sort of money, combined though - we were never at home. I was out of the house for 14 hours a day and away from home two nights most weeks, DH was always away.

We stepped off that wheel after DC, now earn much less but still more than enough and have a pretty lovely existence all considered.

Money, at that sort of level, isn't everything and most of the jobs paying those sorts of salaries require a massive sacrifice of work/life balance.

My DH bought out a company that went tits up, along with 2 other colleagues. It helped hugely that we had some savings to be able to put down as a business loan (that we had built up just by doing averagely paid, normal jobs)- if we hadn't had those of at the very least been able to borrow it we probably couldn't have gone ahead.

He isn't minted in the way you're probably thinking of- 'only' takes home approx £5k a month although we live very well on that. But when they decide to sell the company in a couple of years time the rewards will come then as he hopes to clear over half a million from the sale.

Work consumes much of his life though, that's the trade off- eg he got home gone midnight last night and left for work again over half an hour ago.

My grandmother did the whole 'live to work' thing. Commuting, no down time, working all hours, was working in the days before she died. Was on six figures working for a law firm.

If I was advising a teenager into a high paying career with the least stress I would advise:
It consulting for banks.
Insurance (v well paid for the hours and the culture is still lots of entertaining and time off for that)
Gas safe plumber - if they have good business skills
Hedge fund / private equity - however it's going to require a good degree preferable in economics, ACA and do your dues for 4 years in the big 4, after year 3 immediately start on CFA and get level 1 (Dec) and L2 (June) then switch into hedge fund/private equity then finish level 3. So you're looking at 5 years of intense exams after your degree and the CFA whilst job hunting and working will be a bad time. But then you'll be 26 and earning £80-100k ish.

Law is bad hours unless you switch into being an in-house counsel.

Professional services is bad hours and as the service provider you're at the beck and call of others.

Finance for a FTSE 100 company.

No one ever said, on their death-bed, I wish I'd worked harder/had more £

(tries to console self for grinding poverty currently in)

I definitely don't think we are minted but these things are relative! £11,000 a month doesn't sound like much, unfortunately. DP is a CEO and also earns money doing advisory work for PE funds. Once upon a time I was a strategy consultant, which is a career that pays extremely well but is absolutely dreadful in lifestyle terms, and sadly never improves before retirement - it tends to get worse and worse, as the higher you go the more time you spend at the beck and call of clients.

I find the whole road to success being in part down to 'having the right connections' school of thought to be completely overplayed on here at times. You are hardly going to be a top lawyer, or design oil platforms or let loose to operate on people on the basis of daddy knowing someone. As for 'being in the right place at the right time' that may account for for a few flukey job opportunities coming your way but again most successful people I know were generally following a self determined career plan of sorts, had a keen eye to spot an opportunity (that others miss) as well as (I know this is an unfashionable thing to say) working damn hard and being actually quite good at what they do.

Not quite that amount on our own bit together. We own a financial services company, I'm an Accountant and my husband is the Business Development Director. I worked part time as we have young children. Can be long hours for my husband though with clients phoning at all times of the day and at weekends too. I remember doing the payroll whilst on honeymoon and the laptop always comes on holiday with us! Our choice though so not complaining!

DP has a consultancy company and together we have a property portfolio which we built up together. I would say that minimum monthly income is around £11k but usually more. He has worked hard to get where he is and often works 12 hour days, but he does try to keep the weekends free, not always successfully! He also works every day if we go on holiday, so while the income is amazing, it also has sacrifices.

I teach (am Deputy Head-of-Year and am Head of Department) and I freelance consult as well. DP has worked his way up in the RAF and is now a Wing Commander. Between us, we probably have a combined income of about 120k a year.

So having the ability to make a huge leap of faith helps?
I'm a shitbag unfortunately

We are both in careers with horrendously long hours, no home/work balance. I run my own business and am often out until midnight. I'm willing to make these sacrifices but would like to be, at least partially minted for my troubles!

Thank you for sharing carry on, am still nosey

Civil barrister £300K + a year, 1st class degrees, bar course etc... lots of hard work....

But for that, DP works 9 months a year and we barely see him in that time. His salary has allowed us to nearly pay off our mortgage and put lots into savings.

DP will be leaving the RAF in about 4 years when his 25 years is up and he's already had a couple of offers for jobs. One piloting private helicopters for wealthy clients (for only about 10k less than he's on now) and one doing private security which could actually make him more money.

Forgot to add, that's my husband! I don't want to say what I do as it may out me but I have a very competitive job that needs excellent qualifications, however I earn no where near as much as he does.

I earn a good salary but nowhere near £11k a month. OH however earns a lot, lot more. He's 2nd from top in a global food company. There is no such thing as work life balance for him though - it's all work, punctuated by bits of 'life'.
Shrewd plumbers and sparks can earn shed loads though, so it's not all about corporate life and the city.