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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

High Earners on MN?

811 replies

BitOfFun · 13/10/2020 08:49

How? The actual leader of my county council doesn't earn more than £100K- where and what are all these super-maxed out occupations? I genuinely don't understand how mumsnetters (often relatively young) access these magic jobs I've never heard of.

YABU- they are there for the taking, you just made poor choices

YANBU- people here are very creative and there's an outside chance they may be lying exaggerating.

OP posts:
TattyDevine · 13/10/2020 20:23

People always think solicitors and bankers, but there's good money in Engineering if you are a global head of an industry - 3 times what the Prime Minister earns and the bonuses are eye watering. These jobs are out there but you have to be top of your game and it's not a log off at 5pm type job either.

StopMakingATitOfUrselfNPissOff · 13/10/2020 20:24

I fell into my job after a levels, applied for a trainee position and got it. 15 years later I’ve just been offered a job on £90k per year for a lower middle management job. Unbelievable money tbh for what it is.
It’s a male dominated industry but rapidly becoming more diverse.
It’s one of those odd, well paid jobs that you wouldn’t necessarily think of when choosing a career

Xenia · 13/10/2020 20:47

Patent agents / attorneys, some company secretaries who get to board level in plcs. Some commercial agents even (self employed people on commission making sales). Vice chancellors of universities. Some super heads. Some management consultants.

Beck30 · 13/10/2020 21:03

Lucky to be where I am I guess. Reasonable grades in GSCE's / A levels / university (lets say A- / B+). Joined what turned out to be a potentially (if you are 'good') industry on about £16k mid 1990's (I think avg wage £17k at the time - I was very grateful!). 20-odd years down the line (never moved for money) and I suppose average £250k or so the last 15 years.

Far more impressed with DP who left school with 3 O Levels, messed about for 10-15 years (parties, London etc) and is now close to me in terms of earnings (ie150-200k) through hard work (similar attitude to me I think) and demonstrating talent to DP's employers (project management, finance.

For what it is worth - we live like we are on average earnings; (avg terrace house outer London, second hand cars, potter about in the garden). Feel very grateful. Concerned about the country as well as family. Wonder how to do my will (DP / family / cats homes etc?)

guinnessguzzler · 13/10/2020 21:23

Intrigued to know, Beck30, if you live like you are on average earnings, what do you do with the rest of your money? Do you just have a lot of savings? Sorry if that is a really cheeky question, I just can't fathom what I would do with that amount of money. Perhaps a lack of imagination on my part!

Beck30 · 13/10/2020 21:40

Hi guinessguzzler

I guess I don't really do anything with it so far. All sat in the bank I suppose. Hopefully if I drop dead I would leave it to somewhere worthwhile. I don't think I will spend it all.... grew up on a farm shovelling sh1t so maybe I will leave some to my dear niece's...but hopefully not enough to spoil them. (my DB and DSIL have their heads in the right place so I am lucky). I guess the reason I don"t spend is because maybe one day I will think of something. But anyway hopefully I will leave a reasonable amount to them, and something more to wider society

guinnessguzzler · 13/10/2020 21:47

Fair enough, thanks for answering ... I'm too nosy for my own good! I'm sure you'll think of something!

areyoubeingserviced · 13/10/2020 21:49

@Beck30- I too live in an average priced house in outer London , despite having a relatively high salary. My house is affordable and so don’t have any problem paying the mortgage.

LadyWithLapdog · 13/10/2020 21:56

OP I hope you take comfort in the fact there’s a perfect Brexit proportion so far in replies, ie 48%:52%.

FWIW in my group of 10 friends (think lawyer, surgeon, dentist etc), London-based, no one earns even close to 100K. Admittedly, we’re part time.

EatPrayYoga · 13/10/2020 22:08

If you're taking about £100K then I agree with you and in lots of the careers mentioned by PPs that sort of salary is not the norm

Runningjump · 14/10/2020 04:47

I work in finance and have a maths degree and to be honest I can't see myself passing £30,000.

I just don't know how I could ever earn that.

Xenia · 14/10/2020 07:41

Running, my son's bright friend who did well in I think maths degree this summer (very good London university - I think it is LSE and I htink he got a good first) has been interviewed by a hedge fund in the Netherlands very recently (not sure if he got the job yet) but that will be an example of someone good at maths probably going to get a high paid job because of the nature of the industry he is choosing. Moving can sometimes be necessary. We moved from the North to London for my career (before children). It it harder however to move cities or countries once you have a family but not impossible. One of my lawyer daughters, the one who is in-house, has moved regularly to get higher and higher pay as unlike in law firms once in house there are not the year by year automatic pay rises in the first few yeas so her leaving stability and people she new to take a few risks has been the route to higher pay. However as someone said above their husband stayed and got pay rises where he was as has my other daughter (and my doctor sibling in the NHS too).

Anyway I had better get started on all this work..... Perhaps MN is the way to earn less as we are distracted by it.

Lexilooo · 14/10/2020 08:52

@RainingBatsandFrogs

Well paid was in quotes, because my career is one of those being thrown about as paying over £100k but it doesn't pay anywhere near that for many many people. Feels a bit shit really. Makes me feel underpaid, but realistically those very high salaries are very rare but skew the averages.

PegasusReturns · 14/10/2020 10:41

I’m well paid. Started as a lawyer and I’m extremely money motivated. Basically I had a miserable childhood and knew I needed money to escape.

The last salary I had was mid six figures. I now do various things including owning my own company and NED/trustee roles.

I have time to mess about on MN because my current focus is with some west coast clients - things are quiet now. They won’t be at 7pm tonight.

Xenia · 14/10/2020 11:12

Thanks for that link. I have posted on that other thread too as putting off something quite complicated for work but no excuses now must get back to it.

Dailyhandtowelwash · 14/10/2020 11:26

Haven't RTwholeFT but I do often raise an eyebrow at the number of people on here who claim to earn enormous money but also post a lot.

I know a small number of people who earn what I think are pretty enormous salaries but they spend zero time in their day pissing about on the internet, even the evenings or weekends.

DH and I both went to 'good' universities and have friends who are doing hugely well and earning what I can only assume to be well into six figures (one on seven). They barely see their families though. Most of our friends are doing really well in their careers, management level, private and public sector, but come nowhere near the sums so often mentioned on here. 100K+ is not uncommon but I reckon 150kish is a ceiling.

I'm currently in a massively overpaid job working for an overseas employer. Next year I will have to launch myself at the UK job market again and I suspect I'll take a 30/40% pay cut. That's after twenty years of graduate management experience. I've never come close to breaking 100k.

Dailyhandtowelwash · 14/10/2020 11:37

Having read back a little, I wanted to add that I have no doubt that women do earn that much money; I know some. The high earners I know are lawyers, management consultants and hedge fund people. I just wonder whether all the people claiming to be earning like that on MN are given the life sacrifices I know are often involved in getting there. The only person I know who owns their own business and earns a fortune doing so works twenty hour days.

My friends, senior though they are, generally aren't working in finance/law/consulting. Like most people don't!

Xenia · 14/10/2020 11:51

I post at lot. May be I just need breaks when working (lawyer working from home for myself and I get to my desk about 7 am and work and relax in this room until about 10 when I go to bed so I have chosen to spread work out over almost 365 days a week in a way that suits me so that probably allows for messing around on the internet and in my case also doing a bit of gardening and DIY and chatting on phone most days. I didn't post online until about the mid 1990s when the internet came out. I suppose before then people would have done something different in spare moments of the day.

For me I like my work so working is no worse than watching netflix and no better which is probably one reason some people can work long hours and yet be happy although I am certainly not at the most busy stage of my life at present particularly as the youngest children are students. When we both worked full time and had a new baby, 1 year old and 3 year old that was the hardest time of life. (None of those cute little children slept much and just about never through the night)

Mincingfuckdragon2 · 14/10/2020 12:08

I earn quite a lot. I'm a lawyer, and it took 5 years of study then 15 years of utter, utter graft to get to a point where I earn a lot. I did 10 months straight once of 6 day, 80 plus hour weeks. It was hellish - at 60 hours a week you don't have the energy to do anything fun, at 70 hours you never see your family, and at 80 hours you get all that plus not enough time to sleep or exercise. Plus a masters, done while working full time and with young children. I have no idea how I did it Grin. Worth it now though, I'm mid 40s and work about 30 hours a week and have a very good income. I'm not in London FWIW.

HasaDigaEebowai · 14/10/2020 12:53

Similar to Xenia, I post on MN quite a lot but earn very well. I also work for myself as a lawyer, work when needed (which can mean I decide not to work during the day sometimes but to work in the evenings or weekends), and use the internet to chat and have a quick break in the way some people would go to the office kitchen for a coffee and chat to a work colleague.

Xenia · 14/10/2020 13:06

For some of us it has been a "jam tomorrow" principle. Suffer early on to reap rewards when older. I am in my 50s. I worked much harder. Just before I set up on my own I as almost doing 2 law jobs - my PAYE one and in my spare time i.e. annual holidays I was taking days off to give paid for 7 hour talks and at weekends I would write a law book and other stuff like that. When I set up on my own a year before we had children 4.5 (twins) and after they were born I worked very hard. With all the children I didn't have maternity leaves eg work until in labour and back full time 2 weeks (never in all 5 pregnancies have I been entitled to any SMP as in those days you needed to be PAYE plus worked 2 years at the firm (it is different now).

I remember a time when 5.30am to 7am on Saturdays were a key working bit of the weekend as it was before the twins woke for their first breastfeed.

However I know I was deferring gratification - the jam tomorrow thing and it paid off. Obviously not every one has to do that and plenty of women even now will find their easier way to be rich is marry someone well off. I am not sure men have quite as much chance of that (other than my teacher ex husband who got a big divorce pay off after 20 years).

The risk for all is the quick break becomes you aren't getting work done but I htink mst of us are conscious of this and force ourselves off it. Megan M yesterday said for some social media (which I don't use) is a bit like an addiction and she's not wrong. I know my sons at times have been very into computer games which work on the part of the pleasure centres of the brain when you are really into them.

Welshwabbit · 14/10/2020 14:29

Quoting from @BitOfFun:

"One thing I will say that gets on my nerves is the near-universal claim of high earners that they work bloody hard for it. While I'm sure this is true, hard work does not necessarily correspond with high incomes. I am currently being cared for in a hospice by some incredibly hardworking staff, many of whom 'take work home', are involved in complex planning processes, often have several professional qualifications etc etc.

None of them will be earning anything like £100k+, but I can assure you that they too work bloody hard."

I'm sorry to hear you're in a hospice OP; I hope you're as comfortable as possible.

I absolutely agree with everything you have written in the quoted passage. As mentioned somewhere upthread (gosh, it's long now isn't it?), I am a barrister on a high income. I have at times worked 6 day 80 hour weeks, as someone else said above. I also came from a comprehensive school background, first in the family to go to university, no family background in my career. But that doesn't somehow make me more deserving than people also working extremely hard, in much more emotionally challenging roles, who earn a fraction of what I do. I was lucky to be born clever; lucky to be good at passing exams; lucky to be reasonably personable; lucky to have an excellent memory. I'm not saying I didn't have to make the most of all of those things to get where I am today, but that doesn't stop me putting most of what has happened to me down to luck.

I studied with people who went into different areas of law. In particular, my friends who became criminal lawyers are now working much harder than I do, with a terrible work life balance, for much less money. I think their job is both harder and more important than mine.

Whilst my job is still unpredictable and sometimes I do have to put in a succession of evenings/weekends and late nights, I am self-employed and have the luxury of being able to work from home when not in court (not just during the pandemic), book time out for holidays and family events at my convenience, at least to some extent, and drop my kids off and pick them up from school reasonably often. When the schools were closed, I was able to work 2.5 days in normal working hours and make time up in the evenings and at weekends so my husband and I could share the childcare. I am very fortunate to have that level of flexibility and to be able to earn very well indeed. I don't feel I "deserve" my income at all, but I am very appreciative of it.

DollyDoneMore · 14/10/2020 15:09

@butterpuffed

Isn't it lovely how all the high earners on MN never seem to be busy and always have time to flood these threads every time they come up Grin
A fallacious argument. Each high earner only has to post a couple of sentences. And most high earners will have far more autonomy over their time and workload than, for example, a lowly-paid hospital cleaner.
CherryPavlova · 14/10/2020 15:18

Most of our friends earn well over £100k, but they are not young and appear more affluent because they have fewer outgoings and have worked hard over many years to reach a point of comfort as retirement beckons.

I type this in between work emails that are a bit dull at the moment . Work is anything but busy at present.

Friends who are well over the £100k salary plus assets include accountants, barrister, investment banker, MAT CEOs, surgical consultants, nurses, teachers, wine importer, architect, people with own businesses, an oak frame builder, engineers, a police officer (retired), a fireman (retired), military officers (retired) a couple of ordinary builders, an industrial chemist. Many jobs pay good money if you are prepared to climb the ladder early on and work hard on the lower rungs to reach greater heights.