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Original poster

Do you think I am underpaid? PhD from Cambridge

133 replies

Ramphamosa · 07/10/2024 08:57

I’m 29. I’ve got a PhD from Cambridge in a STEM subject. 1st class undergraduate from Oxford.

I work for one of the big four. I earn about £58k a year in London. I work 9am-8pm most days. Get very little bonus.

I know it sounds like a decent salary, but I honestly thought I’d earn a lot more than I do. Big 4 was my fall back choice.

OP posts:
ViciousCurrentBun · 09/10/2024 20:18

My friends DS is a coder with a First class degree from a middling University he was on 52k last I heard. He was working for companies on I guess a freelance or project basis from when he was in sixth form. He graduated during covid so is around 25 now.

Itsfriedriceyouplick · 10/10/2024 13:58

lol think you’re doing ok. My husband has 3 degrees and on less than that and he’s in his 50s. I’m in my 50s and a Cambridge graduate and I’m on just over £110K also in my 50s.

MidnightMusing5 · 14/01/2025 20:42

Icanttakethisanymore · 07/10/2024 09:46

If you work for a Big 4 your salary will reflect the role that you do, rather than your qualifications. I know someone who worked at Deloitte and their salary was not super competitive but they get away with not paying that well because people want it on their CV and ultimately they want to make Partner (where they will earn £1m+ a year. How have your reviews been? Are you getting good feedback? Is there any headroom in your band to get a pay rise? Are you likely to be promoted soon?

How many people make partner?

changecandles · 14/01/2025 20:52

Ramphamosa · 07/10/2024 12:06

I’m not comfortable giving my exact role. But it doesn’t require any professional exams.

80% of my team have PhDs and if not have distinctions in mathematics from Imperial etc. I work in a highly numerical role, coding, etc so it’s not your run of the mill general consulting

So are you earning similar to them? If you are the. I guess it's a typical salary for the job with the qualifications you and they all have

EndlessTreadmill · 14/01/2025 21:39

Your PHD and university brand name get you the job in the first place. How you perform in it is what gets you promoted, and that is what drives your pay.
Presumably, you are not getting promoted as fast as you would like? In all honesty, your salary does sound quite low, but then the 'Big 4' will not be paying as much as the strategy consultancies (Bain, McKinsey etc), that is where the big money is (and also the shocking work life balance).

Icanttakethisanymore · 15/01/2025 10:26

@MidnightMusing5 Not sure - I guess you can find information on the number of partners vs the size of their workforce in general.

HarrietBond · 15/01/2025 10:29

The quick answer though of course is not many. And you go through a lot to get there too. People put up with nonsense with the promise of partnership if they deliver, but the maths will tell you most of them won’t end up there. That doesn’t mean life failure - lots of people just leave for other things at senior level and are quite happy.

Worldgonecrazy · 15/01/2025 10:37

The Big 4 pay rate depends on how much of your soul you are willing to sacrifice for the first 10 years. Once you’ve sold at least three quarters of your soul, it will look great on your CV and options will open up.

I work in FS and one department has a definite preference for Big 4 trained applicants. However the Executive / Director layer is a mix of great degrees/Masters and ‘started on shop floor as a trainee’.

Once you’re established in a role, working hard and doing well, qualifications become less important than actual performance.

Best of luck wherever life takes you.

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