If you started university between 2003 and 2007, do you own property and are you happy with your salary?

[Anothercupofteaplease]

Just curious. I started university in 2003 but due to serious health problems wound up doing my course part time so took me ages to get my degree and then get into the world of work.

Anyway, I wondered from the cohort of people from around that time, how well you feel you are doing in terms of salary and suchlike? Do you feel like you are where you thought you would be in terms of financial security at this age?

I'm a financial loser who never earned well so certainly not bragging. I have done a masters recently that will allow me to hopefully earn more if my health holds up, so hopeful for the future.

Yes and yes.

I graduated in 2006, went into a graduate scheme, hated it, changed career direction entirely into one which didn't actually need a degree. I've now got c. 15 years experience doing that and am at a mid-senior level, which my pay reflects.

I inherited a small lump sum in 2010 which allowed me to buy a house with my now-husband.

I would say that among my friends who graduated as part of the same cohort, I'm not that unusual. Most of us own property, and if people haven't progressed in their career it is usually due to a complete career change (because of Covid, or hating what they were doing), or because they spent their twenties doing more interesting things. One of my friends is still very junior but it's because she spent a lot of time travelling and doing seasonal work and she's only in the last three or four years actually tried to build a career. Those who have stuck to what they started out doing have seen the benefits pay off in seniority/more interesting roles.

You sound like you're doing well, @LBOCS2! That's great. Good that you changed career direction early on and found your niche.

Yes, most of my friends are doing quite well too - which is interesting because of the disadvantage of the 2008 recession, which didn't make getting established easy.

I read about people on grad schemes in 2008 suddenly being out of a job, lots of jobs being difficult to secure, things like that. But I wasn't even finished my degree by then so was removed from all that chaos.

Went to uni in 2007, graduated in 2010.

I lucked out and got a full-time job straight out of uni at a company that I temped with during the summers. But again, recognise my luck as friends who graduated at the same time took, on average, about a year to get a job.

Bought a house in 2018 after getting married. And yes, happy with my salary. I pushed myself and did a lot of extra industry specific qualifications and am mid-senior level at work.

Yea and no. Starred uni in 2003, graduated in 2007 about a month before now DH and I bought our first place together. We managed it because I had an inheritance after my dad died (also in 2003) and DH’s grandparents wanted to see him make use of what would have been his inheritance after they passed away. We bought in an exceptionally cheap area of the country, which is where we are from anyway, and as a result had about a 50% deposit which has left us exceptionally well placed for our onward moves (now in house 3).

I’ve never earned more than I did in my first job from graduating. I went into an admin role for a house builder who went bust a few years later. Since then I’ve mostly stayed in admin roles and now work for an estate agency. I love my job but it’s only part time with no realistic prospect of going full time. I stay because I enjoy my job, like my boss and it’s close to home and the kids school, changing job is just going to mean at least a 30minute commute as opposed to a 2 minute walk to the office. But overall I’m happy.

Out of my friends I’d say it’s a 50/50 split between those still renting and those who have bought. Those of us who have bought tended to move to smaller towns we came from, the ones renting are mostly in Glasgow/Edinburgh.

I don't know anyone that doesn't own to be honest, but I'd say vast majority have had parents help (us included). I haven't achieved what I thought I would, but what I want and what I thought I wanted are different in reality. I earn 50k and don't have any real work stress, enjoy job so all good

Went to uni 2003- 2006 I have a great CV, worked my way up to head of department, flexible hours, great salary, good pension, own a lovely detached home.

On a day to day basis I feel like my soul is dripping out through my shoes. I wish I'd listened to my gut 15 years ago when I knew my career was making me miserable. I stuck with it because I'm good at it and it pays well but I don't think it's worth it and I'm too far down the road now to do anything else.

And other cheery thoughts 😆

I started uni in 2005 and graduated in 2009. I did struggle initially to get a full time job that was relevant to my degree due to the recession but I landed a job in 2010 and I've worked in the same industry ever since. To be honest is wasn't even am industry I knew much about or had considered working in but at the time I was willing to take what I could get and it worked out well.

I was at one point making really good money but I recently took a job a few grades lower because it required no travel and allowed me to work from home so was better suited to my family life. I still make good money, higher than the national average.

I currently own 2 houses. One which I rent out and our family home. I became a home owner at 25.

Own my own property, yes, but not happy with salary.
After uni, I flunked in real life. My mum died, I got married too young to an idiot and I made bad life decisions (spent years renting, didn't save). The first few years after uni sent my life on a completely different path than I had otherwise intended. 16 years later, and I'm on a low wage in an admin role.

Yes. I graduated in 2006 with a law degree and am now a lawyer. We own our house yes. I am ok with my salary, I chose in house over private practice so earn a lot less, and I have not moved around loads jobwise so could earn more. However objectively it's good and we have everything we need, with a really good work life balance (for my field).

It wasn't super straight forward though, the job market was tough and I entered my profession through a slightly unusual route.

Yes & yes, had a number of financial set backs it the early days due to poor romantic choices shall we say. I also had no financial support at all from parents from age 19ish onwards.

left uni 2008, started earning really well around 2012, bought house 2015. House purchase was later than I imagined to be honest but debt/renting/deposit were challenging.

In hindsight I should probably have bought something cheaper sooner. I’m not 100% convinced that extended education really did me any favours, I could probably be where I am today without a degree.

in terms of earnings I find that work experience trumps ongoing formal education in most circumstances (exceptions for academic/medical etc)

what is your area of work OP? Does the masters directly offer increased opportunities?

Yes the renting for years really does impact on ability to save doesn't it.

Does the masters directly offer increased opportunities?

Yes it does. It has already opened a door for me and it's early days yet!

Aa an aside, more and more I notice job listings where a postgraduate degree seems to almost be acting as a filter method for applicants, like a primary degree did in the past.

Uni between 2005-2009.
My wage is crap, but I did a career change 4 years ago, and flittered around temping while I sorted my MH out (I was bullied in my old career, and ended up off with work-related stress for many months, and had severe anxiety).
I had received an inheritance just before this happened, which enabled us to buy our home (with a mortgage, but we were able to put forward a 40% deposit, and allowed me to take a cut in pay).
I started my new career 18 months ago, and really enjoying it/the company so far. I have had one small promotion in that time, but I am pretty much bottom of the ladder.
DH is on a just slightly above average wage, and we comfortably afford our bills each month (even when our mortgage rate goes up next month) - we have a decent enough disposable income that we can enjoy a few luxuries (a week abroad once a year, and a couple of local weekends away, and a takeaway/meal, or two, out each month). We are very fortunate, but we only got here as the inheritance paid for a very large chunk of our house. No children.

Yes and yes. Did a 4 year course starting in 2007. Bought a flat in London in 2014 and now have a slightly bigger house in Kent. 3 pre school children so lots of money gets swallowed up in childcare costs.

That’s great news!! Hopefully heading in the right direction for you

I would say, depending on your field, be mindful that the jobs paying the big bucks often aren’t filled through listings but through networks. So the listing is often utopia when roles are filled with people who have relationships/experience.

I also Graduated in 2006. Worked my way up in a specific career, paid off student loan and brought a small property (had help with the deposit though). I was earning good money but absolutely hated by job and the industry in general, it was soul destroying and I became so jaded by it. Decided to retrain and switched careers a few years ago so have gone from earning well to starting all over again and not having much at all! I'm so much happier as a result though. I've never been one to visualise the future, I rarely think more than a year ahead, so am not sure how where I am now compares to the expectations I had when younger.

Sounds like you've overcome some serious challenges and are remarkably resilient, OP. Well done getting through your degree part time and getting a masters too. You sound far from any sort of looser even if you're finances are lagging a bit behind your graduate peers due to your circumstances. Sounds like you're on the right path now, good luck with it all.

Graduated in 2007 then did my masters time while working and paid for it myself 2010 to 2012. Yes we own our home, with a hefty mortgage. We didn't have family help to buy it and lived in a cheaper little house before buying this which is lovely but still not in our ideal area. Buying felt out of reach for a very long time.

I work in the cultural sector and pay is really low yet you still have to work very hard to get into it and progress. So in a sense I'm happy with my earnings which are a mix of salary and freelance.

I don't see either of these things as a measure of success so don't beat yourself up. But I do understand that both provide security.

I'm happy in life but being 38 means I am old enough to have worked 15 years in one industry then moved into another at entry level as I fancied a change. Salary is less important to me than flexibility at the moment.

We bought a house with 5% deposit in 2008 and are now 13 years from paying off the mortgage of our second house. If we'd graduated a year later, the 95% mortgage we got would have been off the table.

Uni between 2003-7 then again to retrain 2009-11. I’m a nurse so my salary isn’t fantastic, but we live within our means. Lucky with some small amounts of inheritance and love in a reasonably cheap part of the country so secure with property.

I feel very put out at being in this student loan bracket, as I have an massive amount to repay still. My mum was a low income single parent so I got the full loan over 4 years, and I’ve never earned a lot (small children as well as public sector pay) so I owe more now than when I graduated. If I graduated a few years before or after it would be written off at a much earlier age but I believe we are stuck with it until 65, I will be unlikely to pay it off.

I graduated in 2007 and went into law. Qualified as a lawyer when the market hadn’t quite recovered from the crash and was lucky to be kept on by my firm. Currently on a very good City salary and own my home with my DH. Funnily enough, DH and I were just saying a few days ago that if we had got on the housing ladder even a couple of years earlier than we did we would have so much more equity.

I graduated in 2003, but it’s a fascinating thread.

I think one thing it does show clearly is the MN ‘ideal’ of an eighteen year old somehow able to fully function alone is not really conducive for success. I can relate to @MishaBukvic s post - my mum died a couple of years before I started university and when I graduated although I did end up in well paid jobs I also had a lot of personal instability which remained until I met my husband.

Yes and yes. Started in 2005, graduated in 2008 but due to further study and travel I didn't start working until 2011.

I am in a well paid profession and earn a decent salary. I no longer live in the UK. Became a homeowner in 2019 at the age of 33.

Went to Uni in 2007. Bought my first flat in London 2014 with partner, didn't have any financial help or inheritance. My salary would class me as a top earner.

Graduated in 2009. It took me 18 months of interning for free and job hunting to find a role, but now have worked my way up to lead a department in sector and company that I love. Salary is decent - some friends are higher earners but I wouldn't want the lack of work/life balance they have. I'm in the process of buying a flat in London. It's taken longer than I would have liked but I have saved the £100k+ deposit entirely alone.

I think there's likely to be a big difference between those who started 2003-2005 who graduated when there were still broadly decent grad schemes available, and those starting in 2006 & 2007 who graduated at a time when options were much more thin on the ground. 2006 starters also had the joys of being the first cohort to repay the higher tuition fees! (Although I am forever grateful to not be repaying under the current system)

I already owned property before I started university. Well, had a mortgage.

Now I have two mortgages. For a hire I had three mortgages!

NB: very much not rich.

I don’t know if I’m happy with the money I earn, I don’t have a regular salary and it fluctuates a lot. Weirdly I think I’d be in exactly the same position today if I hadn’t been to university, but never mind.