Starting salary for a recent graduate - is it a good salary?

[lovelysummersky]

This is about my brother who recently graduated from university with a postgraduate's degree (master's).

He does have relevant work experience, lots of internships and summer jobs and speaks two languages fluently, but obviously no full-time work experience as he was a student until recently.

He got a job offer and the job is interesting, 38 hours per week, 24000 pounds (before tax). Would you consider this to be good, okay or low for someone who just graduated?

We don't live in London, but in another big city that's not super cheap either.

YABU - it's fine for a recent graduate
YANBU - it's too low

I'm just a bit worried with inflation and everything and it's not a cheap city.

Can’t possibly comment without knowing industry

I suppose it depends on what the progression is like and the training that he'll receive?

Depends on the job. Speaking two languages fluently is not going to command a higher salary if it’s not a requirement if the role.
is it a graduate training scheme?

And this

This.

There are grad jobs paying anything from minimum wage to around 6-figures.

Sounds reasonable for a graduate.

Those who are good and hungry for progression will progress quickly to the higher salaries.

Honestly it depends on the job/field.

My DS just graduated with a Masters from Cambridge, and got a job in an arts field that nearly a thousand people applied for. In London - only pays £26k. He pays out about 60% of his net pay on rent, then has bills, council tax etc all on top of that. It's tough out there for arts grads.

If it's more of a business sector then I'm not so sure.

It's low in my company and industry (software engineering). Our grads start at ~£30k and are eligible for a performance related bonuses at the end of the year.

It depends on a lot of factors. I know a lot of graduates believe they should walk into a well paid job, but if its more of a development post and scheme then it's a fair wage depending what it is- chances are the progression will be more rapid than a non grad and they're less likely to hit a ceiling later on. Some industries the pay is just generally crap and won't improve much but might be fulfilling depending what they enjoy. If he's excited by the role and it'll be enough for him then great.

It's tough out there for arts grads.

Sadly has always been thus, hence why there is a disproportionate amount of wealthy people who work within the arts.

If it's chartered accountancy that's about right. On qualification after three years it would be around £40k so it rises quickly. A lot depends on whether it's a grad scheme with external qualifications to go through.

This. It's not great considering NMW is £21k and many employers like supermarkets etc pay more than that for all jobs now.

But you'd hope he will progress from that but also it depends on the competition for the role - some pay little because there's enormous competition at any salary so they don't have to pay any more than they do.

Totally agree. Lots of DS friends are heavily subsidised by wealthy parents. I do what I can, but he eats a lot of soup

What's the job?

It's in urban planning and being fluent in a foreign language was a requirement, not a bonus.

Thanks for your replies so far.

Depends on the job and progression. Is it a Graduate job or just a job which happens to be filled by a Graduate.
A relative of mine who graduated last year took a job on £25k but is hoping to progress within the company once they've got some work experience other than retail/warehouse/bar work.

Then no it isn’t a good starting salary but it’s a job in a time when there isn’t a huge amount of building been done.

Dc started on £29 & £32 k not london. One on lower gets bonuses (potentially!)

If he needs his sister to work it out for him… then they’re over paying him!

I’m in planning, £24k for a new graduate (not chartered) sounds roughly right. Not sure why you need a foreign language though?

He'll get a big set up once he's chartered.

£24k isn't a great graduate salary but until he's chartered he's still in a training phase.

I know it depends but I think it's at the low end. I work in a media type environment in London and the last intern job I recruited for had a £25k starting salary - this was 5 years ago so I would have thought wage inflation would have boosted graduate roles to nearer £30k by now.

You can only do what you can do, I entered a field similar to the arts in which the pay is crap as they know people are passionate about it. My parents couldn't afford to subsidise me but their support in other ways was invaluable. I'm not sure if it's a thing now but I used to work for a hospitality agency on the side, I'd book shifts so nice and flexible and some paid £££s which topped me up nicely.

Low in my industry (professional services) where grad salaries start with a "3". But with so many graduates these days, some will be on noticeably less

South London, I earned that on my first job with a PhD and more degrees than a thermometer just a few years ago. Sadly, industry values experience over qualifications. Give it a few years and you'll be where you want to be :).