To ask how I can become "rich"?

[raincabin]

I know this sounds ridiculous.

I would like to be a high earner, I grew up working class and my knowledge in this area is lacking. I have tried to do my own research but found it difficult, with a lot of opposing answers and many sites/people just trying to sell!

I am doing a midwifery degree, I have always been academic and considered law but I knew I would find it boring.

What can I/should I do so that I can become a high earner?

I dream of nice cars, holidays and not having to worry about stretching until the end of the month. I'd also love to be able to send DC to private school.

I am open to anything.

Yes.

I know, that's the minimum amount I am talking. I would be happy enough with that.

In my area, £80k goes a long way.

If you’re not a numbers person, Law was probably your best bet. It’s such a broad subject, you surely can’t have thought you’d find it ALL boring?

Anyway, I earn within the range you’re looking for. I’ve a law degree and a humanities masters + 12 years in my chosen career. I’m a non profit director on my mid 30’s, and will be a Chief Exec in the next five years, so will earn more. However, the ceiling on my earning potential is about £120K. So, it’s possible in my sector, but not super likely.

My husband works in the City and earns twice as much as me. First from Cambridge + Phd in something tricky and mathematical. If you want money, finance is a good shout.

Sales? If you're really good you can earn loads.

Realistically, it will be very hard to get into the sort of legal career where you make big money if you already have a small child.

You can do a one year law conversion course after graduating - the Graduate Diploma in Law (GDL). Once you have that, it is considered equal to a law degree and you can then do the one year legal practice course (LPC). Finally you need to then get a suitable legal trainee job at a law firm to get two years post qualification experience required to become fully qualified.

And during this qualifying period - if you are at the sort of law firm where you make lots of money - you will be working potentially insane hours including all nighters and weekends. The law firm own you during this time.

Big city law firms will pay the fees and a living cost stipend to trainees during the GDL and LPC.
However....the trainee places are challenging to get and generally the intake are middle class 22 year olds with 3 or 4 A levels and good traditional degrees from Russell League universities.

If you want to try, you need to apply now for Easter work experience scheme with a big city firm. There will also be summer schemes - get on as many as you can and hope you impress during them

For example, applications for a one week experience at Easter are now open:

www.slaughterandmay.com/careers/trainee-solicitors/work-experience-opportunities/

look for similar schemes at Clifford Chance, Ashurst, Linklaters, DLA Piper, MacFarlane's, CMS, Denton's, Eversheds, Hogan Lovells, Allen and Overly, Freshfields, Norton Rose Fulbright.

High earners we are related to or are friends with

Corporate lawyers
Orthopaedic surgeon
Big pharma
Oil and Gas
Bankers

We are worse off than most of our friends, but we are doing fine, we both work or worked in higher education. Top earning Profs can earn 100k but exceptionally rare, DH is currently hitting around 65k, I took very early retirement as higher education is in a complete state.

I would say the absolute best off people we know are also partnered up with people who earn a lot. The big pharma people are my brother and his wife. He was assistant VP for one of the biggest pharmaceutical companies in the world. He has lived in three different countries.

I mean I think if anyone could give you an answer to this question in one post we’d all be rich, wouldn’t we? There’s no quick answer.

Convert to nursing and go into aesthetics. There's a lot of money in botox, fillers, laser treatments, etc.

This is probably the most realistic option for you but you'll need to be able to work in a big,. wealthy city to earn.

I was considering this, you can go into aesthetics as a midwife but the market already appears saturated as it is, let alone when I qualify in two years.

MojoMoon is right. Law is not compatible with family life, particularly when you first start. So forget about it.

Well, when looking at careers did you look at earning potential as well as what you would enjoy?

Midwifery, though essential and extremely valuable, is something people do as a vocation mostly, not with any expectation of becoming well off as a result. It is notoriously badly paid.

What do you mean by "rich"?

I know. I didn't ask for a quick answer. I asked for information, I'm looking for a nudge in the right direction.

But that’s the thing - if you want to be successful you need to be confident and self starting. Vaguely mentioning that you want to start a business but you’re not sure and asking people how to ‘become rich’ isn’t going to help. If it worked like that we’d literally all be rich. You need to look at what you can do and research careers you’re qualified for - nobody on here can tell you how to make 100k if you don’t have a clue where you’re going.

That’s rich to me. I think it’s absurd to think it isn’t.

Oh, for goodness sake. I don’t think it’s rich, but I’m not so lacking in awareness as to not know that a lot of people would consider it a lot of money. You’re being ridiculous.

It isn't. In most places you have to live to earn that money, most if it is sucked uo by housing. And childcare. And commuting (or even more on housing if you try to cut commuting costs). And tax.

That is middle management money in the professions. It is not "rich". It doesn't equate to new cars or holidays or children in private schools. I think many people have a very scewed idea of what "rich" is these days. Just "earns a lot more than me" doesn't mean "rich".

Would you not continue with midwifery?

@AliensAteMyHomework

If you had read all of my posts, you wouldn't have made such a fool of yourself by posting this.

£80-100k is rich to me and a lot of people I know.

How out of touch you must be.

Well it’s relative. I manage to live on far far far less. To me, it’s rich. To you it obviously isn’t. Being snotty that people with much less see it as aspirational just makes you look very small minded.

But that’s the thing - if you want to be successful you need to be confident and self starting. Vaguely mentioning that you want to start a business but you’re not sure and asking people how to ‘become rich’ isn’t going to help. If it worked like that we’d literally all be rich. You need to look at what you can do and research careers you’re qualified for - nobody on here can tell you how to make 100k if you don’t have a clue where you’re going.

Thank you. I put in my OP that I have done research but not to much successful. It's beneficial (and nice) to get anecdotal answers from a forum such as Mumsnet.

I am confident. I am self starting. Everything we know have learned and, I am trying to learn.

Please do read my other posts on here.

OP if you'd like higher wages and have academic aptitude - it sounds like you do - the suggestions of joining the professions are sensible. Obviously medicine takes years and years to train for si law and accountancy are good options. Barriers to entry for both have been massively lowered in recent years, and can lead on after training to a huge variety of roles and career options.

As a PP said though, in either field you have to be prepared in the training phase and early years to work incredibly hard. I and all of my colleagues were doing 90-100 hour weeks as standard.

Contrary to much popular belief, those salaries don't just drop in people's laps without any effort.