Is £15,500 salary a year a decent wage?

Question

I am 24 female and work in a university.

How old are You and how much do you earn?


Im based in Nottingham.

I am on accelerated salary. Im also starting a part time MBA in Oct this year.

I see I am getting thumbs down...from some of you jealous people.

..and why are some people on here getting thumbs down..when their answers are alright?

Answer 1

It's not always so much about the money, so long as you have enough to live comfortably and within your means. It's enough to survive, but only just!

You could earn alot more but it may mean doing a job you like less!

Answer 2

According to the Office of National Statistics, the average UK wage is around £21,000. However, that average includes all the high-flyers and all the low-earners so it is after all just a figure. Given your age and the fact that you're likely near the beginning of your career, your salary is fairly typical of your demographic cohort group. Looking at the average graduage earnings for the past year from the University I graduated from, the overall figure was around £13,000 for first jobs (within six months of graduation), or £15,000 for first jobs for students within my own Faculty. So, there's a reasonable range of starting salaries for graduates. You state you're on accelerated salary, which I'm assuming means you have a career progression structure in place, which sounds promising. The MBA will most likely accelerate your earnings potential further so yes for your current age and circumstances I would suggest you are earning a relatively TYPICAL wage.

That's not to say it's a decent wage, or a wage which would afford to sustain the repayment of a student/graduate debt, or purchase a house, or indeed finance many of the things recent graduates aspire to nowadays. I hope that answers the question, but just as a codasil, bear in mind that in Nottingham you're always going to earn a lot less than somebody in say London and the South East, and similarly by being female you may earn less than your male co-workers, (I'm not condoning that, I'm just stating that as an observation) plus working in a University you're in the academic sector which is traditionally paid less than other sectors. So, all in all, given your circumstances your salary seems fairly typical if that's of any help.

Answer 3

Im 42 and earn £100k + bonus.
But once I was 24 and earning less than £15,500

Ah those happy days when I didnt have anything worth worrying about. How I dont miss them.

Answer 4

Well you're on more than me and I am late 30's, have a mortgage and have worked for the same company for 18 years. What other people earn/don't earn is none of your business - it is how people handle the money that they have that matters.

Answer 5

To tell what i earn would not be a good idea, but i think 15k is a good salary for uni work.

Answer 6

im 24 male on 60k, im a Junior trader Based in London.

Answer 7

Depends on your outgoings and lifestyle.

It doesn't get much better the more you earn, i pay more than 15k a year in tax!

Answer 8

im 23, clerical worker for council and get just over £13k.. i applied for a couple of clerical/administration jobs in a university and they only offered £14k for full-time work.. so i think your on a fairly decent wage!

Answer 9

If you have a degree then its pretty poor.
I'm 28yrs old £24,000 basic and live in North West.NO degree.
But it covers your living expenses and you have money left to spare then it's great.
Depends on your commitments.

Answer 10

i am 23 and with my bonuses taken into consideration (mileage etc) i get about £24.000 a year. it works out to be about £2000 a month before tax. so i am happy.