interestrateripoff Posted May 9, 2011 Share Posted May 9, 2011 http://www.dailymail.co.uk/news/article-1384967/How-teenagers-think-earning-60-000-35.html Teenagers are distinctly unrealistic about how much they will earn as an adult, a study has found.The survey revealed the average teenager expects to be paid more than £60,000 a year by the time they are 35. On leaving education, they anticipate a salary of about £16,600, rising to £35,400 by the time they are 25 and hitting £61,700 by their mid-30s. But the reality is rather different, with the average 18 to 21-year-old earning just £8,595 – rising to only £18,705 for workers in their 20s and £24,333 for those in their 30s. Nice to see the education system doing it's job.... So are our teenagers ahead of the curve with inflation and £60k a year will be the new £16k a year? Or do they just feel they'll need a £60k a year just to buy a beautiful rabbit hutch? Quote Link to comment Share on other sites More sharing options...
'Bart' Posted May 9, 2011 Share Posted May 9, 2011 But the reality is rather different, with the average 18 to 21-year-old earning just £8,595 – rising to only £18,705 for workers in their 20s and £24,333 for those in their 30s. Is that London/SE wages? A friend of mine in her thirties (with degree) is only earning at about the £18,705 level. Quote Link to comment Share on other sites More sharing options...
mitchbux Posted May 9, 2011 Share Posted May 9, 2011 http://www.dailymail.co.uk/news/article-1384967/How-teenagers-think-earning-60-000-35.html Nice to see the education system doing it's job.... So are our teenagers ahead of the curve with inflation and £60k a year will be the new £16k a year? Or do they just feel they'll need a £60k a year just to buy a beautiful rabbit hutch? Both. Quote Link to comment Share on other sites More sharing options...
Wait & See Posted May 9, 2011 Share Posted May 9, 2011 (edited) Wonder what they think they'll be doing to earn 60k a year................ Wait a minute, maybe we need more honest bankers?........Thats it. Everyones a winner. Edited May 9, 2011 by Wait & See Quote Link to comment Share on other sites More sharing options...
Lepista Posted May 9, 2011 Share Posted May 9, 2011 They are right, though, aren't they? ...with loaves of bread at £10 a pop. Quote Link to comment Share on other sites More sharing options...
silver surfer Posted May 9, 2011 Share Posted May 9, 2011 Nice to see the education system doing it's job.... Quote Link to comment Share on other sites More sharing options...
zebbedee Posted May 9, 2011 Share Posted May 9, 2011 Ahhh, the stupidity of youth, we were all there once-know everything without having made the same mistakes as thier elders* * yet Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 9, 2011 Share Posted May 9, 2011 think of the Barclays advert....a smooth voice over a production line of slippers. in a real business, they will produce hundreds of pairs every hour. In the £10.99 retail price, there will be a retailer margin, paying the shop staff server, the manager, the rent, the insurance the advertising. leave a fiver for the distributors....who buy them for £2.50 from the Barclays line. People at that line EXPECTING and ENTITLED to £60K a year need to look at their share of the gross profit for each pair of slippers...be they designers, advertisers, Sales, Directors, Bankers, Insurers, landlords, accounts, TAX. Maybe its 10p they get from each slipper. 60K means 600,000 pairs of slippers. 12,000 a week. Of course, only a minority of workers actually work in a business of this size....and they dont tend to work in the UK. Most work for SMEs, where 60K for the average worker is quite out of the question. Yet Entitlement is instilled in degree seekers, public sector and workers. Quote Link to comment Share on other sites More sharing options...
Van Posted May 9, 2011 Share Posted May 9, 2011 Is that London/SE wages? A friend of mine in her thirties (with degree) is only earning at about the £18,705 level. What does she have a degree in? Burger Flipping? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 9, 2011 Share Posted May 9, 2011 What does she have a degree in? Burger Flipping? you laugh, but you NEED a degree to be a burger flipper these days. Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted May 9, 2011 Share Posted May 9, 2011 (edited) I think its being reasonable. They look at what salary they need for a mondeo, 2 kids, a semi detached in a middle area = 60k So they are not being arrogant at all just judging what they need to have a middle level standard of living. The way cost are going they may need more than that when their time comes. Edited May 9, 2011 by Fromage Frais Quote Link to comment Share on other sites More sharing options...
exiges Posted May 9, 2011 Share Posted May 9, 2011 The survey revealed the average teenager expects to be paid more than £60,000 a year by the time they are 35. Well, they have 20yrs to go before they're 35.. so with Mervs rampant inflation they may get their £60k pa. Of course £60k won't buy you a a sandwich let alone a house, but they'll have a £60k job. Doubles all round. Quote Link to comment Share on other sites More sharing options...
Nickolarge Posted May 9, 2011 Share Posted May 9, 2011 Wonder what they think they'll be doing to earn 60k a year................ Wait a minute, maybe we need more honest bankers?........Thats it. Everyones a winner. If they read any of the past threads on this forum where members posted up their incomes they would be expecting £100k by the age of 30. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted May 9, 2011 Share Posted May 9, 2011 If they read any of the past threads on this forum where members posted up their incomes they would be expecting £100k by the age of 30. I think anyone who hasnt banked at least a couple of mil by the end of the first week in January is a bit of a failure, i wouldnt personally get out of bed to answer the phone unless there were 8 noughts involved Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted May 9, 2011 Share Posted May 9, 2011 an 18 year old could expect to earn that within 5 years , 60,000 being the minimum wage after 5 years of print print print. Quote Link to comment Share on other sites More sharing options...
Wait & See Posted May 9, 2011 Share Posted May 9, 2011 (edited) All that these teenagers will get is hyperinflation and a useless salary that won't go anywhere, over the next 20 years. Merv wants this/home owners want this too. If they don't want it then lets see those IR's at 10% pronto. The kids can blame their parents for how bad their lives are going to turn out, as HPI must be kept alive at the expense of everything else. Edited May 9, 2011 by Wait & See Quote Link to comment Share on other sites More sharing options...
Tonkers Posted May 9, 2011 Share Posted May 9, 2011 How many TV shows depict someone with a clear source of realistic income in relation to the work they are shown to do, who also live a lifestyle commiserate with that? Quote Link to comment Share on other sites More sharing options...
RichB Posted May 9, 2011 Share Posted May 9, 2011 Inflation at 7% for 20 years should make that quite realistic. What is the problem? Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted May 9, 2011 Share Posted May 9, 2011 How many TV shows depict someone with a clear source of realistic income in relation to the work they are shown to do, who also live a lifestyle commiserate with that? Very few, you get tons of films on TV which show new office person, within a month or so gets a promotion and makes it to the top. Hell in our day we had exactly the same films like BIG. Where Tom Hanks works in a toy company and within a couple of months gets right to the top. I think the problem is TV far too often shows the end result without any of the hard work put into it to actually get there, which can quite easily fail as well. Though this is pretty common anyway. My dad everybody said he was lucky, to have an OK house a nice car etc. You're so lucky. What they didn't see was 7 days a week 14 hour shifts for 2 decades. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted May 9, 2011 Share Posted May 9, 2011 Inflation at 7% for 20 years should make that quite realistic. What is the problem? Inflation at 14% (which is what it looks like from where I'm sitting) for 10 years ought to do the trick. Hell why not go the whole hog and do 140% for a year or two? Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted May 9, 2011 Share Posted May 9, 2011 Sounds achievable in engineering but that involves 20 years hard work. No free lunches. Quote Link to comment Share on other sites More sharing options...
Timak Posted May 9, 2011 Share Posted May 9, 2011 If you'd asked me at 16 what I thought I'd be earning at 35 I probably would have said some unrealistically high figure. It would be a bit sad if they all said "I'll be on a minimum wage, zero hour contract, living in a bedsit and eating value beans" even if that is the reality for most people. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted May 9, 2011 Share Posted May 9, 2011 The survey revealed the average teenager expects to be paid more than £60,000 a year by the time they are 35. On leaving education, they anticipate a salary of about £16,600, rising to £35,400 by the time they are 25 and hitting £61,700 by their mid-30s. But the reality is rather different, with the average 18 to 21-year-old earning just £8,595 – rising to only £18,705 for workers in their 20s and £24,333 for those in their 30s. Where's the problem with those figures? Twenty years ago, incomes were around half their present levels. £60k twenty years hence is just approximately projecting a trend. On leaving education ... well, what are graduate salaries today? A teenager may be legitimately projecting a few years to his/her own graduation. Interesting that the average 18-21-year-old should be earning so much, given how many of them are in full-time education and thus presumably earning only part-time if at all. It suggests that those who are in full-time work are doing surprisingly nicely to pull that average up! Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 9, 2011 Share Posted May 9, 2011 If you'd asked me at 16 what I thought I'd be earning at 35 I probably would have said some unrealistically high figure. It would be a bit sad if they all said "I'll be on a minimum wage, zero hour contract, living in a bedsit and eating value beans" even if that is the reality for most people. Absolutely. Most schools still seem to drum into kids that going to university is the answer to everything, and by getting a good degree they will automatically climb the career ladder. The reality is rather different, but if these kids believe what they are told, then they expect to be earning a good wage by the time they are 35. Across the whole country, £60k is probably a reasonable figure for someone who has done quite well by that age (more in the SE, less in the rest of the country and excluding bankers and professional footabllers!) Quote Link to comment Share on other sites More sharing options...
ccc Posted May 9, 2011 Share Posted May 9, 2011 The most interesting point I see in this survey is this: More than 50% anticipate buying a house before age 25 (The vast majority with a mortgage of course) and yet only 24% anticipate getting into debt in the future. At a rough - back of a fag packet calculation - we can deduce half of youngsters today - do not see getting a mortgage as having debt. No great surprise. Half the parents probably drilled that into them from a young age - with the help of some choice TV shows of course. A mortgage is real debt is it... Quote Link to comment Share on other sites More sharing options...
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