To feel a little inadequate? Is 30K a decent salary?

[ShareaTear]

I feel like I’m completely surrounded by very high earners, and feel a little inferior, which I know is my issue and I need to get over it.

I have just completed a degree, which has opened some doors to me. I’ve started working in a related role with a salary of £30k. Is this a good starting point for someone straight out of university? Or should I be earning more by now?

I had no experience before. So the thing the degree has done, is got me the job. And also, given my CV a boost as I have been studying whilst also being a SAHM.

South east here. Our graduate salaries are around 24k. So 30k is decent enough

The training aspect is great. If you enjoy the job and like your colleagues it's fine.

UK median wage is £39k. Honestly £30k is pretty low for a graduate in their 40s.

Right now you don’t have work experience in your field. In a years time you will be able to apply for even better paid jobs.

In the public sector in Scotland that's a grand over the salary paid to a new financial assistant.

Your employer is taking the piss if they're paying NMW to graduates.

Do the training and exams and the pay will go up. Look up qualified / chartered accountancy jobs to see how much you could earn. Re-training in your 40s is commendable and you’ve picked a career with good progression (especially if you become chartered) so you won’t be on £30k forever. Good luck.

Beicio Cymru just put a job up at that in North Wales and I think they'll get a flood of applicants...degree required, etc.

I'd say that's decent enough, particularly if there is further potential to train. In London I might hope for a few more grand quite quickly outside London/SE decent enough.

Make sure you take responsibility for building your career, particularly at your age, be proactive. In a couple of years, if there is no sign of further training, look to move, or even invest a bit in yourself. I once paid for a course that got me a job and it was 'paid for' within about 2 months, then thereafter I was earning more long term.

Given the info you’ve provided it sounds like a good starting salary in an industry that has room for progression in many companies.

There is a hard ceiling in accountancy and finance roles if you are not a qualified accountant (ACA,ACCA, or CIMA). You won't get to be a Finance Department Manager or Finance Business Partner without it.
You either have to get the professional qualification to progress, or pivot out of doing accountancy / finance.
If you don't want to do the professional qualification, and you are in a general business (as opposed to an accountancy firm), look into openings in other teams like sales & marketing, or data analysis. (HR also requires professional qualifications, so maybe not that.)

Your issue is you are comparing yourself to people who are 40 and have had 15/20 year careers... of course you will feel you are coming up short.
You dont have an established career yet...
I can understand it feels hard but this is the life you've chosen so you have to roll with it

I’m a graduate and was on that to start. It went up fairly quickly over the years.

Agree. OP, you are fresh out of university so will not have the same salary as people with many years more experience.

Depends where in the north you're talking about. In some parts, 30k would be low for a graduate starting salary and the number of six figure earners is soaring.

You're in a great position coming off the back of being a SAHM, well done. But time is actually not on your side when it comes to pensions and retirement.

If you want to know if it's a good salary, don't look at people around you, look forward to your pension and work backwards.

I consider myself to be on a good salary because I can afford:

• my current lifestyle
• the savings I want to make for my son
• generous pension savings for the (early) target retirement date
• any other factors such as planned house moves, travel, replacement cars etc.

The actual figure doesn't matter so long as you can satisfy this sort of list.

Tbh it isn’t that much. I make just below that working at Amazon. However, your salary will rise quicker than mine in the long run so I wouldn’t worry

I retrained as a solicitor at the age of 40. My training contract salary was £17,000 and my qualified Salary was £24,000 for 3 years. Im 52 now and ended up quitting the law. It never reached the dizzying heights of £30,000 and i have never actually earned as much as the job I left (charity sector). So it seems a standard sort of post-qualification salary to me. You have to remember that they are paying you for the NQ job, not your age or prior experience, sadly. I found it incredibly depressing actually, and really think I made a mistake retraining. (Mind you, I also hated my job with a passion).

This was in the SE, High street firm also.

When DS did the accountancy training through work it was like a day release thing so he was being paid but not actually working at work one day a week for several weeks so the salary might also take account of that.

your age is almost irrelevant in so far as you are a new graduate, and it's a new job (in a market where junior jobs are very hard to come by), so it is a well done moment and you will rapidly claw your way up.

Age become relevant in the comparison. You are presumably surrounded by other late 30s, early 40 yr olds. They will have 10/15 years on you career wise, maybe more, and the earnings to reflect that

I'm on 45k in a job with significant responsibilities 13 years after graduating! It's all relevant to what sector you are working in, what the long term prospects are. Any job that offers progression and opportunities as a graduate is worth snapping up.

You’re at the start of your career, so using your age or friends as a comparison will suck the joy from you. Is £30k a good salary? No. Is it a good start for where you’re at? Yes. Make sure you get a sponsored study package, and have clear salary elevations as you progress through your accounting qualification. Once you have 2yrs post qualified experience you’ll be in a great place to chase well paid jobs if that’s your goal.

It sounds about right to me - maybe even pretty good if you don’t have any accounts experience. I was getting that until very recently despite having passed ACA exams and having years of experience in AP, payroll and as an Assistant Accountant (one reason why I left). Best part is you have huge scope for progression if you become qualified, or even once you have a year or two behind you.

I did a degree and my first starting role was around 21k fresh out of Uni. I think it’s now around 28k for new starters. So 30k would be about right for our industry. I must add we are north of Nottingham which makes a massive difference. If you are london then it’s probably on the low side.