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Under 35's - What Is Your Work & Housing Status?


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32, paid £31,500 inc company benefits like pension contributions, yearly bonus. I work in Quality control/Tecnical advisor role. Based in Rochdale "benefit capital of the world".

Paid £32,000 for a 2 bedroom starter home in 1998 when I was paid £11,000 per year - Mortgage was 3 times my earnings and had to provide proof of work for 3 years.

Just decided to splash out on a decent car for me and the Mrs and baby daughter, 4 year HP, when paid off I can use this extra money for a larger house. I'm expecting small falls in house value and wage increases to make 3/4 bedroom houses more affordable to me in 4 years time :)

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Aged 30 on 60k a year working in procurement for one of the big 4 supermarkets. Started 'proper' work in 2004 on a grad scheme earning 20k and have worked for a few blue chips in between (including a bank).

Have savings of 130k built up over last 8 years although 20k of that was gifted. With no debts I was able to save from the get go and invest wisely. Although I rarely post i am an original HPC member who unfortunately finds himself in most expensive part of the country. With 4 x salary and a hefty deposit I'd be looking in the region of 400k but unfortunately that only gets an average 2 bed flat with 3k a year service charge to rub salt into the wound. Yes I could buy but have worked too hard to buy anything lacking the wow factor. Fear I won't find that in London on my income.

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... 2. Aptitude ... also. Too many people simply blame a lack of the former when the reality is they come up short on all fronts.

true - of course the definition of aptitude also include ability not to die of boredom, ability to get on with people you would otherwise despise, ability to overcome superficial office politics and shine brighter even when you are 2nd best, ability to be seen to work later than your colleagues, ability to stretch a job out and make yourself look like the keenest; at the top of some of these institutions, the ability to cadge a taxpayer bailout for everyone's bonuses and pensions looms large; the list goes on; but the aptitudes required are often not the same ones that children are taught they need

of course, the right people SHOULD be in the right jobs for them, the world works, largely, better for that (corporatism aside), and the aboev skills are, actually, very difficult to master (the not getting bored one being particularly important in my case, also getting on with people I despise, tolerating corporate bullsh*t, etc etc!)

Edited by Si1
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Aged 30 on 60k a year working in procurement for one of the big 4 supermarkets. Started 'proper' work in 2004 on a grad scheme earning 20k and have worked for a few blue chips in between (including a bank).

Have savings of 130k built up over last 8 years although 20k of that was gifted. With no debts I was able to save from the get go and invest wisely. Although I rarely post i am an original HPC member who unfortunately finds himself in most expensive part of the country. With 4 x salary and a hefty deposit I'd be looking in the region of 400k but unfortunately that only gets an average 2 bed flat with 3k a year service charge to rub salt into the wound. Yes I could buy but have worked too hard to buy anything lacking the wow factor. Fear I won't find that in London on my income.

you could afford to live in London on 20k?

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So, if you can't afford a reasonable gaff for your family on a prob equiv of 150k, that 150 k might be prob equiv to a real what ...? .... 40k?

I don't mean to be nasty but that's a reasonable point, no?

Seems to be the main one in this thread imo.

I 'could' earn twice as much doing the same job in London, however my living standards would effectively reduce by two thirds.

If you put all the wealth, opportunity and enterprise into one relatively small area of a country/city, it isn't at all surprising that playing the game bears a hefty subscription fee.

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This thread has inspired me to apply for a new job. Its an extra 10k per year, but I don't meet one of the 'essential' criteria (got to be a postgrad or PHD ... but doesnt mention what discipline...) ... but can't do any harm trying. I've met these PHD types and they always seem inept at actually doing stuff, and its very apt to my current skills etc.

Hopefully some good will come out of this whinging thread!

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I'm 34 and married with a 10 week old baby.

I live in East Lancs and earn approx 34k.

I bought in 2002 and sold it last year.

I now rent a 3 bed semi detatched home with plenty of space for £690/month.

All profit from first house sale is in shares which has done well so far.

Happy to rent until we get some serious price drops which are starting to happen in my area.

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of course, the right people SHOULD be in the right jobs for them, the world works, largely, better for that (corporatism aside), and the aboev skills are, actually, very difficult to master (the not getting bored one being particularly important in my case, also getting on with people I despise, tolerating corporate bullsh*t, etc etc!)

+1 very true. The skill of using your mind as a muscle choosing how you are going to think not what you are going to say is incredibly difficult and the vast majority of the population don't ever master it - when someone says "take me as I am" or " I have always done it this way" you know they are light years away from understanding how their own thinking patterns work let alone flexing them for their own good in any given situation.

If I was going to teach every school child one skill it would be the skill of not breaking rapport with anyone unless you choose to. A very successful life could be built on that simple premise.

Edited by Greg Bowman
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1. Luck is an enormous issue. 2. Aptitude and 3. hard work are also. Too many people simply blame a lack of the former when the reality is they come up short on all fronts.

There's also making the right choices, as saldy we're not blessed with hindsight (well not all of us anyway).

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Age 24 and 23. ~50k pre-tax income combined plus ~10% pension contribution. Both graduates. We live in a house 'worth' 180k and owe roughly 125k on the mortgage, 3.94% fixed for 5. We overpay by £500 a month on the mortgage and contribute 8% to our own pensions. I don't live in London.

1 of us has a 20k student debt, the other paid it off with a grandparent's inheritance. 1 of us had rent paid for us while we were at uni, the other did not. No bank of mom & dad, only a few thousand £ gift towards the deposit and a fridge,

I would say we are in the lucky minority. Most of our friends are workshy and reckless with their spending, with 0 pension or savings.

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This thread has inspired me to apply for a new job. Its an extra 10k per year, but I don't meet one of the 'essential' criteria (got to be a postgrad or PHD ... but doesnt mention what discipline...) ... but can't do any harm trying. I've met these PHD types and they always seem inept at actually doing stuff, and its very apt to my current skills etc.

Hopefully some good will come out of this whinging thread!

They ask for PhD / Masters not because of necessity, rather too many applicants. Serves as HR screening.

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Age 24 and 23. ~50k pre-tax income combined plus ~10% pension contribution. Both graduates. We live in a house 'worth' 180k and owe roughly 125k on the mortgage, 3.94% fixed for 5. We overpay by £500 a month on the mortgage and contribute 8% to our own pensions. I don't live in London.

1 of us has a 20k student debt, the other paid it off with a grandparent's inheritance. 1 of us had rent paid for us while we were at uni, the other did not. No bank of mom & dad, only a few thousand £ gift towards the deposit and a fridge,

I would say we are in the lucky minority. Most of our friends are workshy and reckless with their spending, with 0 pension or savings.

Looks like you got a big inheritance from a grandparent

Thats just luck, I wouldn't be so smug

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They ask for PhD / Masters not because of necessity, rather too many applicants. Serves as HR screening.

Yes I'm hoping this is the case. It was the same for my current job. They said I had to have a postgrad then, and I dont. Still got the job thanks to my awesome skillz and good looks B)

Depends if that screen you mention is to delete my application, or to deter me from writing one in the first place ... or both.

Its an internal-only vacancy, so that should wittle down the numbers too. But internal within this organisation is still rather a large pool. Similar size to the North Korean Army iirc.

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Hello,

I am 32 and earn ~32k. Have 43k in savings (18k of that was inheritance so I am lucky in that respect). I do contract work on the Large Hadron Collider in Switzerland via a British University (who employ me). Not sure where I will end up - advancing ones career in unversities into a permanent job is very tough and I am heading towards being too old to be employed at the level I am at (the only hope to stay at this level would be to keep getting my contract renewed every 2 years until I retire which might be possible - but then you only have to fail to make the grade once during the rest of your career in the bi-annual assessment and funding is removed for your job by the relevant research council and the uni will make you redundant). Very interesting job and enjoyable, not bad pay - but awful job security with not much out there in the same area if you should lose your job. Career change is the likely way if that happens.

Currently I rent a one bedroom place, but would like to own a house (this is prohibited more by not having a permanent job + unsuitable alternative jobs in the location I live without a complete retraining into e.g. teaching) - I don't care if I buy and the house drops in value if I would be there for sure 10 years, but faced with having to sell if employment demands it I could lose a lot of my savings that I use as a deposit. On OTOH inflation will destroy the savings anyway given interest rates are far less than RPI (though I do change accounts annually to maximise returns).

Saver

Edited by Saver
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I wish people would mention if they have permeanant employment in this thread. I'm still none the wiser about job security of my young peers on here (other than Saver above). I get the feeling fixed term contracts are the norm nowadays?

All go back and edit your posts please. thanks

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Which is exactly what Fadeaway said. They are in the lucky minority. No smugness I can see.

Good luck to them.

Nope, he said "no bank of mum and dad" when in fact you needed to work out that the magic £60k came from an inheritance rather than being "workshy and reckless" like their contemporaries

God, i hate smug people who can spell

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Nope, he said "no bank of mum and dad" when in fact you needed to work out that the magic £60k came from an inheritance rather than being "workshy and reckless" like their contemporaries

God, i hate smug people who can spell

What £60k difference? If you mean the £55k difference between 180k and 125k:

"Age 24 and 23. ~50k pre-tax income combined plus ~10% pension contribution. Both graduates. We live in a house 'worth' 180k and owe roughly 125k on the mortgage, 3.94% fixed for 5. We overpay by £500 a month on the mortgage and contribute 8% to our own pensions. I don't live in London."

Consider the fact that they might have already paid off some of it especially if they're overpaying by £500 a month, or, as they quoted '180k', some appreciation in value.

Not seeing any smugness in that post either.

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22, unemployed, 1st class MEng in electrical engineering at a 'good' uni (top 10 in league table etc and course all accredited etc), not that any of that matters anyway is a degree now is utterly worthless life is completely ******ed

Looking at either doing a phd abroad somewhere to get out of this shithole or committing suicide and that’s how I feel

I don’t want to go on a graduate scheme and become a middle manager or a corporate *****, I would have been fine doing bricklaying or something but I got brainwashed in school and by the time I woke up when I got to uni it was like ‘oh well im here now might as well finish it’ and now I have 30k debt what the ****** am I meant to do

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What £60k difference? If you mean the £55k difference between 180k and 125k:

"Age 24 and 23. ~50k pre-tax income combined plus ~10% pension contribution. Both graduates. We live in a house 'worth' 180k and owe roughly 125k on the mortgage, 3.94% fixed for 5. We overpay by £500 a month on the mortgage and contribute 8% to our own pensions. I don't live in London."

Consider the fact that they might have already paid off some of it especially if they're overpaying by £500 a month, or, as they quoted '180k', some appreciation in value.

Not seeing any smugness in that post either.

You can''t have paid off much of a mortgage at 24...

Haven't noticed house prices rising much since 2007 or 2008 in the UK...have you?

sighs...

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22, unemployed, 1st class MEng in electrical engineering at a 'good' uni (top 10 in league table etc and course all accredited etc), not that any of that matters anyway is a degree now is utterly worthless life is completely ******ed

Looking at either doing a phd abroad somewhere to get out of this shithole or committing suicide and that’s how I feel

I don’t want to go on a graduate scheme and become a middle manager or a corporate *****, I would have been fine doing bricklaying or something but I got brainwashed in school and by the time I woke up when I got to uni it was like ‘oh well im here now might as well finish it’ and now I have 30k debt what the ****** am I meant to do

Train to be a doctor / physician. Borrow more and enjoy prolonged student life, travel the world.

I recently met two American girls studying Medicine, nice girls, intelligent, in their mid 20s, each with ~150K in debt, but really seemed to be enjoying their Euro holiday off borrowed money.

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Train to be a doctor / physician. Borrow more and enjoy prolonged student life, travel the world.

I recently met two American girls studying Medicine, nice girls, intelligent, in their mid 20s, each with ~150K in debt, but really seemed to be enjoying their Euro holiday off borrowed money.

LOL GOOD ONE

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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