The decline of the professional
Discussion
OP - you’ve beaten many to buy a house so you can’t be doing too bad.
Do the younger employees still live at home with their parents so have no living expenses and save nothing? I’ve found that with a few people who seem to live outside their means.
You’ve got a good job so things can only go up (hopefully)!
Do the younger employees still live at home with their parents so have no living expenses and save nothing? I’ve found that with a few people who seem to live outside their means.
You’ve got a good job so things can only go up (hopefully)!
It depends where you live. South East of England with a £400K mortgage for a 3-bed semi and you won't have any spare cash from a £60K+ job, which is well into the top few percent of earners. As mentioned, are those younger ones still living at home? Or maybe in flatshares just renting a room (which, ironically, would I imagine drive them to be out the house as much as possible)
Sparkzz said:
visitinglondon said:
To me, a professional is someone who got a degree and can use apostrophes.
I think that is where your problem lies ...
Fortunately, that isn't the definition.I think that is where your problem lies ...
visitinglondon said:
Sparkzz said:
visitinglondon said:
To me, a professional is someone who got a degree and can use apostrophes.
I think that is where your problem lies ...
Fortunately, that isn't the definition.I think that is where your problem lies ...
t? What a horrid response. Some of the best engineers in the world will not have a degree. It is the attitude that determins the altitude, not the exams and you have a severely bad attitude.you're probably just in an industry / profession that doesn't pay too well
I used to have a highway engineering job that I had 8 years experience in. Hit a brick wall really and the money wasn't too good. Moved to house building, no experience of houses, got a decent payrise and the only way is up (until we have the next recession and I'll go crying back to my old job)
It's not fair but then life isn't fair.
FYI I drive a brand new car and go on multiple holidays a year and live in a nice house
Oh and only got a HNC but call myself an engineer omg
I used to have a highway engineering job that I had 8 years experience in. Hit a brick wall really and the money wasn't too good. Moved to house building, no experience of houses, got a decent payrise and the only way is up (until we have the next recession and I'll go crying back to my old job)
It's not fair but then life isn't fair.
FYI I drive a brand new car and go on multiple holidays a year and live in a nice house
Oh and only got a HNC but call myself an engineer omg
mcg_ said:
you're probably just in an industry / profession that doesn't pay too well
I used to have a highway engineering job that I had 8 years experience in. Hit a brick wall really and the money wasn't too good. Moved to house building, no experience of houses, got a decent payrise and the only way is up (until we have the next recession and I'll go crying back to my old job)
It's not fair but then life isn't fair.
FYI I drive a brand new car and go on multiple holidays a year and live in a nice house
Oh and only got a HNC but call myself an engineer omg
Bricks aren't Engineering!I used to have a highway engineering job that I had 8 years experience in. Hit a brick wall really and the money wasn't too good. Moved to house building, no experience of houses, got a decent payrise and the only way is up (until we have the next recession and I'll go crying back to my old job)
It's not fair but then life isn't fair.
FYI I drive a brand new car and go on multiple holidays a year and live in a nice house
Oh and only got a HNC but call myself an engineer omg
Just kidding.
mcg_ said:
you're probably just in an industry / profession that doesn't pay too well
This may well be the key. I have a degree, don't call myself an engineer, but spend my days working with engineers.As I tell everyone I have a degree in bricklaying. I realised very early on that there was no money in house building or civils as an employee. I set my plan on getting into O&G where I felt the money was.Many years later I am still there & think it was & is the right call.
Look at your industry sector, some pay well for professionals some don't.
mcg_ said:
you're probably just in an industry / profession that doesn't pay too well
Yeah, there's a massive difference between say Defence on the lower end and Oil and Gas who historically have paid well, although I believe isn't so good at the moment.Also government/commercial makes a huge difference, when I left the civil service for industry I inflated my salary a lot when asked what salary I was looking for, and they made me an offer for a grand more than I asked for, oops
I think the OP makes a good point, because of this:
Flooble said:
It depends where you live. South East of England with a £400K mortgage for a 3-bed semi and you won't have any spare cash from a £60K+ job, which is well into the top few percent of earners.
The decline of the final salary pension and house price inflation mean that even the top few percent of earners don’t have the lifestyle of previous generations.Most people I know who live well have benefitted from inheritances when parents die and houses are sold. One person recently getting a million in this way. I only have, and will only ever have, what I’ve worked for myself.
Maybe your older colleagues have all received money this way.
Maybe your older colleagues have all received money this way.
SVS said:
The decline of the final salary pension and house price inflation mean that even the top few percent of earners don’t have the lifestyle of previous generations.
It would seem that, in fact, many people have a far more luxurious, comfortable lifestyle than previous generations. Expectations are now higher, but many households have two reasonable incomes -many women now earn a lot more than they used to.
What will be different in coming decades is that few people will be able to retire at 55 on a big pension.
As others have said, if you have parents or relatives who are going to leave you valuable property then you are potentially going to become quite wealthy. I picked the wrong family...
Engineering is not generally high paying, although there are exceptions, but you may be surprised to discover how many people earn much less -even if they appear to be spending a lot. UK pay levels are not going to increase much any time soon.
Have you been an engineer for three years or been in manufacturing for three years?
If you've been an engineer for three years, then with a good career structure, you should advance reasonably quickly. Moving to the right part of the country or abroad would help.
Manufacturing is a broad spectrum. Try moving into pharma, fine chemicals or gases for a better salary. Good CPD and getting into LEAN, 6Sigma etc will also boost your take home.
If you've been an engineer for three years, then with a good career structure, you should advance reasonably quickly. Moving to the right part of the country or abroad would help.
Manufacturing is a broad spectrum. Try moving into pharma, fine chemicals or gases for a better salary. Good CPD and getting into LEAN, 6Sigma etc will also boost your take home.
Those older professionals looking forward to a comfortable retirement benefited from less-enlightened times, economically speaking, with pensions and perks that we now know to be largely unaffordable. Good for them. Sad for you.
I was schooled during the late 70s and early 80s. Few of my peers went to university and those that did were something special academically. A degree was a rare thing so those that had one were in rare supply and thus able to command a higher salary. Basic supply and demand. Throughout the 90s, when polytechnics became universities, places and thus degrees became more common. Supply outstripped demand and thus the premium attached to someone with a degree lessened and everything flipped around itself. This is why today you find plumbers, sparkies, brickies, and the like, earning more and or retaining higher levels of disposable income compared to those in traditionally middle-class, professional careers.
However......
I was schooled during the late 70s and early 80s. Few of my peers went to university and those that did were something special academically. A degree was a rare thing so those that had one were in rare supply and thus able to command a higher salary. Basic supply and demand. Throughout the 90s, when polytechnics became universities, places and thus degrees became more common. Supply outstripped demand and thus the premium attached to someone with a degree lessened and everything flipped around itself. This is why today you find plumbers, sparkies, brickies, and the like, earning more and or retaining higher levels of disposable income compared to those in traditionally middle-class, professional careers.
However......
Sparkzz said:
but my idea of capitalism was that those of us in the middle kept those at the top rich and were compensated with a comfortable lifestyle.
This is true but also worth remembering that being in such a position, you are closer to the top and reaching it more attainable than someone on the shop floor. Whether this means simply career progression, promotion or creating your own business, you are ahead of the line when it comes to onward opportunity.It's all about choosing the right path within engineering.
My job title is 'engineer' but I see myself more as a technician, I have no degree but I do engineer things. I'd just prefer the term to be protected as it is in Germany.
I work in automation and the pay is miles better than most other 'proper engineers' with degrees who work in more traditional fields.
Different parts of the country have a big effect on salary too, I don't think I'd be paid any more if I worked further south than I do now but if I were to venture north then I'd estimate losing 30% of my salary.
My job title is 'engineer' but I see myself more as a technician, I have no degree but I do engineer things. I'd just prefer the term to be protected as it is in Germany.
I work in automation and the pay is miles better than most other 'proper engineers' with degrees who work in more traditional fields.
Different parts of the country have a big effect on salary too, I don't think I'd be paid any more if I worked further south than I do now but if I were to venture north then I'd estimate losing 30% of my salary.
Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff