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?

So much is going to depend on where you live - the cost of rents/house prices.

It’s entirely industry dependent, I retrained at 38 and graduate salary was 40k after a year I was promoted and on 50k. Hopefully I will be promoted over the next year or so again.

You need to get into a training contract and get qualified or you will struggle to earn much more than that.

Once you qualify, the sky’s the limit. Don’t put off qualifying.

£30k is a decent central London starting salary for a trainee accountant.

It'll go up each year (assuming you pass your exams) and you'll be on, maybe, £50k or so in three years depending on your specialism.

Sounds like a pretty good salary for someone entering the workforce.

The UK average salary is £34,500, so for a first job, £30k is not at all bad!

And where are you paying for housing?

Stop comparing yourself to people around you, there will always be people earning more, doing more, doing better etc if you look.

Get your sense of adequacy (as in, the opposite of how you're feeling right now) from yourself, from your achievements, the effort you put in, your goals, how you treat people.

Comparing yourself to others is such a trap and will make you feel more inadequate, anxious and incapable.

If you are going to compare yourself to anyone then it should be a 21/22 year old graduate.

You have been out of work while raising children, have studied and returned to the work place. That is a huge amount to celebrate

you have said it yourself you are working to become qualified. In 5 years time you could be on £20k more

relax!! And well done

It's a good salary for someone in their first job with no experience, yes.

Ask Google. It says median graduate staring salary is 30-35k, so you are within that range.

Congrats on the degree op 😁
you’re right that it’s a step through the door. The rest now, will be down to experience. I think you should be comparing yourself to a new graduate aged 21/22 rather than someone your own age. £30k is not a bad starting salary for an entry level graduate role!

in 5 years time I’d expect that with some hard work and dedication (plus ambition!) you’ll be on a much higher salary. You may have to consider the type of employer you have though to get the bigger wages. Smaller businesses don’t pay as much.

also, well done on doing that with 2 kids. It’s bloody hard work and it’s paying off for you!

@notthatoldchestnut - thank you. I appreciate that. 😊

In what career? £24k is actually less than national living wage. Most grad roles in SE are from £35k

I’m in London and grad roles are £27k in my (large) industry. Completely depends on industry.

I think new grad starter on £30k in accounting is normal. Financial controller likely about £40k. Deputy/Head of finance £50-60k. Deputy/finance director £70-90k. Deputy/CFO £100-200k

Getting your accountancy qualification is crucial. Private / public sector also quite different.

I think it’s a perfectly good graduate salary. They’re not going to pay you more than grads in their 20s just because of your age if you have no relevant experience.

Isn't that minimum wage? DS is getting that on his degree apprenticeship but he's also having his degree paid for and only works 4 days a week (as one day uni). That is ridiculous.

I think 30-34k is probably normal grad salary OP. What do you mean 'earning more by now'? If you've only just graduated then there is no 'by now'.

Gosh that's low too isn't it compared to the average grad starting wage. I guess with there being an over supply of graduates since the push to get 50% to uni some employers are taking advantage.

For accountant's firms it generally £35k plus.

A good salary for anyone straight out of Uni. You’re being naive if you think you’ll instantly earn the same as people with more experience or in better paid careers straight away.

Accountancy firm is going to be different to accounting in another business.

A lot of grads will have parts of their accountancy qualification already (CIMA etc), so that will also make a difference to starting salary. Not sure what OP has done!

Straight out of uni. Not mid career

Out of interest how did you find the recruitment process being an older grad?

I’m ACCA part qualified and on £29.5k. All the jobs I can see out there atm are either £25k or want someone fully qualified for £45k+. Theres nowhere in between!

My son did a humanities degree and went into an accountancy firm with no accountancy qualifications at all on £38k. They didn't differentiate on their graduate scheme between those who had partial exemption from ACA and those that didn't as doing the same work. And by the end of the 3 years they all would have the same qualifications. When he was applying the lowest scheme he saw was £34k.

I think it is important to put the figures out there so people can gauge whether they are beibg paid the market rate. It is even more important for women who are still being paid less than men generally within the market.

Whereabouts in the country are you? I think it is important to state that as that is considerably lower than London/SE.