Is it difficult to earn more than £40k?

[Lowwages]

I’m currently on benefits due to a long period of sickness and I’ve been trying to prepare for work for whenever I get better. I’ve been running the numbers though and the benefits I receive for being sick with 2 young children is equivalent to a £40k salary. I’m quite shocked but now also worried that life will always be a struggle as a single parent unless I can exceed that £40k salary.

I’m currently 32 and looking at getting qualified in finance or going to med school but the average salaries on glass door and payscale seem really low considering that these are supposed to be some of the best paying jobs in the UK.

Just how difficult would it be for somebody newly qualified at 35+ to surpass £40k? I’m aware that I could never recover or that I could meet a partner to share finances with but I think that it’s better to prepare.

I'm guessing you must have a high rent to pay to get benefits equivalent to 40k unless you are including disability benefits in that figure ? I guess the thing to remember is that your benefits likely wouldn't stop completely if you start work at a salary lower than 40k, they would likely taper, so you would still get some help etc with rent until the point where your salary meant you lost all benefits.

There are plenty of jobs for £40k+ that are readily achievable for many people.

The areas you are considering would concern me with regards to student loans/debts and the sort of childcare needed to enable you to qualify.

@gardendream Ignore the naysayers OP. Just smacks of jealousy/discontent which you don’t need.
What would anyone be jealous of? The OP is long term sick single mother with 2 dc and no qualifications. Not sure why you think any of us would be jealous

OP I agree with the people saying financial services is a much better bet or CS. Anything like law and definitely medicine will require so many years of study and in the case of medicine you'd need to do an access course extremely well to even get in to med school

I have the qualifications needed to get into med school as I actually chose biology as my third A-level subject in college, though I agree that five years of study at my age is probably too much.

You might benefit from some careers advice OP, you could try the National Careers Service adviser line?

What A-Level subjects and grades do you have? Medicine is trying to be more diverse and there are widening participation initiatives but the reality is that it is incredibly competitive to get a place at Med School and then of course a long hard slog to quality, never mind reach 40k!

Thank you everyone for the excellent advice, I’ll be searching the civil service website and looking more deeply into the different areas of the finance sector later this evening, as well as taking a look into the tech industry.

A few have mentioned childcare but my youngest will be 16 in three years and their Dad is very involved with them so I’m hoping that it won’t really be an issue by that point.

There are loads of tech companies in Leeds

Plus civil service/public sector. HMRC, NHS England, Financial Conduct Authority

I could go on but you’re well placed if not too far from Leeds.

What would anyone be jealous of?

Having ambition, goals, a dream.

I'm amazed and appalled that you get the equivalent of 40K a year for doing nothing. Sounds like you'll only stop it if you can earn that much which sounds unlikely. Awful.

I think this is a load of bull. The Ops posts don't add up. First Post they have 2 young children and last post youngest will be 16 in a few years

To get into med school you’ll need at least three a* and other evidence of study and ambition. You can’t just say ‘I have some A-levels and want a job paying £40k.’ Then study is about 6 years of working all hours/ shifts/ around the country. I don’t mean to be mean but you don’t seem to be at all realistic

I spoke to them and took their very thorough quiz a couple of years ago, they are very good so I think I’ll go back to them to refresh. I think my top two results were UX researcher and Neurosurgeon, with a few coding/finance/science based roles further down the list.

I got an A* in further mathematics, an A in biology and level 3 business studies which is equivalent to an A-level (I originally wanted to study law). I should probably go straight to working at my age, but I thought that University might be slightly less demanding while I recover. Med school probably not so much though.

OP, if you were too soft for law then you are definitely too soft for medicine. It’s brutal. Also, the shifts are hard enough for someone in good health and it’s tough being an older med student with hungry 22 year olds. Isolating.

Civil service is a good call. Also, can you do anything that would reduce your outgoings while you are working your way up? Cheaper area, shopping in costco/b&m, lift share rather than driving for school clubs etc? It all helps.

So do you have young children as your first post or your youngest is 16 as you stated subsequently

The careers advice service recommended you become a neurosurgeon? Uhuh

Look at the skills shortage list & find something that may help you earn a lot quickly.

My industry pays very well (I’m on 70k at 33 for a job that I was previously being paid 38k), and I have a fairly niche skill set so that combination has accelerated my earnings.

Quantity surveyors are always in demand & require maths for example. As a woman in construction, you should always be in demand.

Doesn’t stack up, you had your youngest at 19?
how can you have a high rent in Yorkshire and your benefits are 40k? Outrageous if it is.

Btw @powerrangers how derogatory can you get when you say

The OP is long term sick single mother with 2 dc and no qualifications. Not sure why you think any of us would be jealous

??

Does being a long term sick single mother mean the OP doesn’t have any merits?

How about being a decent human and helping her explore the talents and resources she does have to help her get to where she’d rather be rather than writing her off as a stereotype?

"Finance" is incredibly vague and covers a lot of different types of jobs.

However, to answer your specific question, if you survive a three-year chartered accountancy training contract, no, it's not difficult. But those three years (minimum) are rough, and you'll need childcare for the kids.

When you're studying, you're effectively working full-time and studying at the same time, so it's crucial you can carve out some evenings and weekends to revise. It's not impossible as a single parent, but it is harder, and you need to be realistic about it.

Age is irrelevant, btw.

If you're solely looking at the money and how quickly you can get there, accountancy over medicine in a heartbeat. It's ridiculous how badly junior doctors are paid.

But... I would caution against going into finance just for the money. Do some research into the different aspects of finance and make sure you're a good match. You need to want to do the job.

Yes, this thread has put me off the idea of med school. I love the idea of being a Doctor but I’m sure the demanding reality would be too much.

I know I wouldn’t really be struggling financially - I realise I’ve not made that clear at all sorry - it’s more that I’d love to be able to afford to buy a nice big house one day, help my kids have a much better start than me, that kind of thing. I suppose I’m just a little disappointed that I haven’t done as well in life as I’d hoped.

Apologies if you've considered this already, OP, but to take home £40k you'd have to earn considerably more than that before tax.

When I was 31 I was also a single mother who hadn’t worked in many years. I went to university to do a health related degree - not medicine. I had to do a foundation year because I hadn’t studied in over 10 years, in total it took 6 years to fully qualify. Worked out really well as had long summers and all the holidays off.

When I first qualified I earned £32k then after 18 months I got a more advanced role and now earn 43k. So it can be done.

Not sure how well it would’ve worked out if I was starting now though as I think Student Loans have changed recently and I’m not sure they do the grants anymore just loans.

OP, are you genuine or trying to wind up people who work for a living? Your posts don't really match up tbh.

@Hamfish my youngest is 13, not 16. Young for the purpose of benefits. The NCS has a questionnaire that takes around an hour to complete, it’s very thorough and matches you with a long list of careers that would fit your particular skills and personality.

@Doodar sorry I’m confused what you’re asking, I don’t have a high rent? I had my first child aged 17 and my second child aged 19 so they’re still classed as young dependants to the benefits system.

OP I have the qualifications needed to get into med school as I actually chose biology as my third A-level subject in college, though I agree that five years of study at my age is probably too much.
meant kindly, you sound very young mentally for someone in their 30s. You'll need more than biology as your 3rd A-level. Typically you'll need chemistry as a minimum and usually also biology. Grades A*AA is typical. You'd also need a whole host of work experience - about 10-12 weeks of medical/social work type commitment. Just having 'biology as a 3rd a-level' is not going to be even remotely close to getting you in.