careers for young people to aspire to.

[gtfpv]

these days i think people , if they want to buy a home and raise a family . have to be looking at careers which pay at least 80,000 pa. with or without ot. now how many people under 25 are on this sort of money , and what is thier advice for younger people and parents who want to advise thier kids on what they should do for work . i'm serious . AND PLEASE . no crap about doing what you love and persuing it . most of us who earn 80 000 + would rather be retired young surfing on a beach in hawaii. SO PEOPLE WHO ARE ON THIS MONEY + ARE UNDER 25 GIVE US THE GOSS.

[Cheap AU]

get a trade in the construction industry finish the apprenticeship then do the study and get on your way to getting a builders ticket... you ll have plenty of homes that way

[Mechan1k]

The only under 25s earning that sorta money are drug dealers .... just kidding.
I wish I was earning that much (actually come to think of it ... I might be nearing that amount with 2 jobs).

But I am 28 ... so I am out. But I work flat out to earn it though.

If you are lucky enough to have the knowledge and the gift for some areas ... you can earn it ... if you know network security inside and out ... well ... you can easily earn double that $80K figure ... but to get that sorta job ... you need the experience to back it up as well.

[XRchic]

Go work up in central Australia, in the mines etc as a truck mechanic, or someone who works with large tools and that kind of stuff. Blokes who go up there, with a trade, usually earn pretty good money at a young age.

[SunDrifter]

$80K would be nice. I'm 25, and i'm on $65K now. Between me and my girlfriend, we earn over $80k (more when she finishes studying her Vet nurse course). Cairns is probably a lot cheaper to live then some places down south, but even still. I'd much rather be getting paid more (feb 06, i'll be on $68K), and work less!

I don't have a house (yet, deposit coming) or kids, but I'm comfortable, and living well. The Mines are a good option, both of my brothers have worked in mines.

Live line power workers are paid quite a bit of money. (moreso in remote locations). All you need to do is an apprenticeship with an energy company and you're in. (4th year apprentices are paid 40K

[Pilch]

Originally Posted by gtfpv

these days i think people , if they want to buy a home and raise a family . have to be looking at careers which pay at least 80,000 pa. with or without ot. now how many people under 25 are on this sort of money , and what is thier advice for younger people and parents who want to advise thier kids on what they should do for work . i'm serious . AND PLEASE . no crap about doing what you love and persuing it . most of us who earn 80 000 + would rather be retired young surfing on a beach in hawaii. SO PEOPLE WHO ARE ON THIS MONEY + ARE UNDER 25 GIVE US THE GOSS.

You need to take into account location, as salaries are largely driven by this. Take the same job in a major city and compare it to to a rural location... salaries and living costs are significantly different.

$80k p.a. is rather optimistic IMO, and I wouldn't expect to get that sort of pay until I'm atleast 25 and if I'm working in a major city. But I have one mate who is 21, works 7 days a week and long hours and he would be paid around the $80k.

[Mack 6]

I feel really bad. I'm 27 and only on 35-45 at moment. Nearly all the guys i went to uni with (Electrical Engineering) are on 80+ now and started on the 60-70 range.
I made the mistake of going off and doing what I wanted with 4 subjects in the degree remaining.
One mate went straight from uni to a role in sydney earning 100+ a year. The reason he went? His missus got a transfer with her work there on about 120. 220+ between the two of them, they might even be able to rent a nice apartment there.
I'm beginning to like the idea of sitting in an office!!!

[parawolf]

To be on $80k by the time you are 25 in todays environment you would almost have to not go to university, but follow something that you are insanely passionate about.

Having said that, I was earning about $80k a year at 25 with a massive amount of oncall - 26 weeks oncall in a year. You can imagine what this does to your social life when you are 25, and what it does to relationships. It is not sustainable.

After nearly 4 years in that job, I left and i'm now on over $110k @ 27 with oncall (1 week in 6), my social life is on the mend, and in a lovely job. I'm engaged and i've been a home owner/mortgage payer for nearly 2 years. You have to love what you do, thats a given. If you don't, you won't put all that you can into the job and you won't make big $$$.

To make big money though, you have to move jobs to 'hop' up the status ladder. My initial job, My base at 25 years old was just under $50k. So over $30k was coming from oncall work. In my current job just $20k is coming from my oncall work so my base/total ratio is far greater.

Don't forget though, earning this sorta $$$ you need a good tax accountant.

To protect this sorta $$$ for the future you need a good financial adviser.

I salary sacrifice $200 a fortnight extra into super. How many people would you know that are under 30 and already have over $100k in super? If I get a promotion soon, I might up that to $300 a fortnight, i'm hoping to have over $2million in super alone by the time i'm 45.

Then there is the equity in the house, at current rates and our payment schedule our 3 bedroom house in inner Melbourne should be paid off in about 13 years (by the time i'm 40). Again if I get a promotion I will up the repayments another $100 or $150 a fortnight.

Then there is the share portfolio. It took a bit of a hit getting the deposit for the house, but hope to have at least $500k in shares by the time i'm 45.

I hope to retire by the age of 50, or at least just get into ad-hoc consulting, or do a hobby business just with the idea of breaking even. Never know though, all sorts of things could change by 2028.

[XRQTOR]

Originally Posted by parawolf

To be on $80k by the time you are 25 in todays environment you would almost have to not go to university, but follow something that you are insanely passionate about.

Having said that, I was earning about $80k a year at 25 with a massive amount of oncall - 26 weeks oncall in a year. You can imagine what this does to your social life when you are 25, and what it does to relationships. It is not sustainable.

After nearly 4 years in that job, I left and i'm now on over $110k @ 27 with oncall (1 week in 6), my social life is on the mend, and in a lovely job. I'm engaged and i've been a home owner/mortgage payer for nearly 2 years. You have to love what you do, thats a given. If you don't, you won't put all that you can into the job and you won't make big $$$.

To make big money though, you have to move jobs to 'hop' up the status ladder. My initial job, My base at 25 years old was just under $50k. So over $30k was coming from oncall work. In my current job just $20k is coming from my oncall work so my base/total ratio is far greater.

Don't forget though, earning this sorta $$$ you need a good tax accountant.

To protect this sorta $$$ for the future you need a good financial adviser.

I salary sacrifice $200 a fortnight extra into super. How many people would you know that are under 30 and already have over $100k in super? If I get a promotion soon, I might up that to $300 a fortnight, i'm hoping to have over $2million in super alone by the time i'm 45.

Then there is the equity in the house, at current rates and our payment schedule our 3 bedroom house in inner Melbourne should be paid off in about 13 years (by the time i'm 40). Again if I get a promotion I will up the repayments another $100 or $150 a fortnight.

Then there is the share portfolio. It took a bit of a hit getting the deposit for the house, but hope to have at least $500k in shares by the time i'm 45.

I hope to retire by the age of 50, or at least just get into ad-hoc consulting, or do a hobby business just with the idea of breaking even. Never know though, all sorts of things could change by 2028.

Mate forget super and pay your house off, buy another one once it's paid off and so on.

[XRQTOR]

Im 21 now and earn a shade over $5o,ooo a year, been on the same money for 3 years now. My minium hours is 55 a week monday-friday only as we dont work on weekends.

On the other hand my mate who is only 6 months older than me is a labour'r on the M7 he works 6 days a week and brings home $1,25o clear, about $75,ooo. He loves it as it's a bloody easy job 90% of the time.

There's money in every thing you do, people wouldn't do it if there wasn't.

[Valknutr]

train drivers get paid a bit, a mate of my ex drives trains, is 23 and owns outright a brand new SS ute with all the trimmings (i know not much to brag about but still better than nothing)
I would say to be 25 and earning over 80k you may have to leave school at year 10 (16) go straight into an apprenticeship so by the time you are 20 you have your trade papers then try for an Oil rig, the mines in QLD, WA or some remote location.

[turboute]

I am 23 and on about 65k a year - I did my first year of uni but then dropped out - mainly because I could not find a decent job to support me. The main thing that I did learn was drafting, and I managed to get work in this sector. After about 3 years of average drafty jobs, I have managed to land one that is exactly what I want and I get paid well.

To top it off - I am dropping back to part time next year and heading back to uni to get my mech eng degree.

[b0son]

Originally Posted by gtfpv

these days i think people , if they want to buy a home and raise a family . have to be looking at careers which pay at least 80,000 pa.

No offence, but, what a crock! Young people can afford to buy a house, but they just need to make a few sacrifices.

eg. you dont really need to be spending $300/mth on mobile phones
eg. you dont have to buy an FPV when a Fiesta will still get you round
eg. you dont need the DTS home theatre system and plasma TV
eg. your first house doesnt need to be in the best suburb, or a mansion
eg. you dont need to drink so much beer or smoke so many cigarettes
etc

Yes, houses are pricey, but its amazing just how much money people squander on stuff they can go without, then cry poor. It's a question of priorities.

[parawolf]

Originally Posted by XRQTOR

Mate forget super and pay your house off, buy another one once it's paid off and so on.

Financial advice should only be given by those that are qualified to do so, with all the information at hand that their individual customers want to achieve both long term and short term.

I know the problems with putting extra money into super, but I also understand the benefits.

I know the benefits of putting money into the house.

However falling housing market, with minimal returns and for the 'first house' it is post tax deposits. $200 a fortnight into super attracts only $30 a fornight tax vs going on the house is paying nearly $90 in tax. Also what is the return on the housing market for the next 5 years? 2%pa? 3%pa My superannuation account got 11.3% for the last quarter. Over the past year, I have had something like almost 23%pa.

Would you suggest that I stop putting money into a share portfolio and into a falling housing market as well? Financial advice is all about knowing the risks your customer is willing to take, over what kind of term and what results they want.

However after extensive discussions with my financial adviser, and tax accountant my strategy is sound for me and my partner.

I don't plan to own only one house, but I also don't plan to live in Australia for the next 20 years. I've got plans; social, financial, career orientated and more. So hold back on the bush financial advice, what suits one person, does not suit another.

[b0son]

Originally Posted by XRQTOR

Mate forget super and pay your house off, buy another one once it's paid off and so on.

Can't see too many people queuing up for your financial advice. You do realise the property market is close to dead and heading backwards, dont you?

[FordFan86]

Originally Posted by b0son

No offence, but, what a crock! Young people can afford to buy a house, but they just need to make a few sacrifices.

eg. you dont really need to be spending $300/mth on mobile phones
eg. you dont have to buy an FPV when a Fiesta will still get you round
eg. you dont need the DTS home theatre system and plasma TV
eg. your first house doesnt need to be in the best suburb, or a mansion
eg. you dont need to drink so much beer or smoke so many cigarettes
etc

Yes, houses are pricey, but its amazing just how much money people squander on stuff they can go without, then cry poor. It's a question of priorities.

Spot on.

[Valknutr]

Originally Posted by b0son

You do realise the property market is close to dead and heading backwards, dont you?

Wooo, this is good news for me, may be able to actually afford a house then woo

[parawolf]

The best thing I could recommend to uni/tafe students (or prospective ones) is to get solid financial advice about the future. The sooner it is understood, the better off they will be.

[wanna302]

new business reforms and a crappy government make buying a house or even owning anything difficult!!! The economy is going to crash soon and i will be there to grab a few bargains.

[old_mate]

I'm aiming for the 80,000 dollar a year income by the time im 25 (half way there, am 21 now)

All i have to do is finish my trade, get my basic license, and get on a type course (i work on aircraft)

[SB076]

Originally Posted by b0son

Can't see too many people queuing up for your financial advice. You do realise the property market is close to dead and heading backwards, dont you?

I would take his advice even if the market is dead, It certainly wont be in 20 years (land is a limited resource) and you cant access your super for at least 30 years. Plus there is no way goverments can keep there hands off your super and I would expect to see it taxed moreso in the future. Fair better off relying on yourself.

[SB076]

To answer the question currently $80,000 is a damn good wage for someone under 25 (or even over) My answer would be not to rely solely on your wage, invest your money make it work for you (shares, managed funds or property) But try to supplement your income.

[BlueRaven]

Originally Posted by b0son

No offence, but, what a crock! Young people can afford to buy a house, but they just need to make a few sacrifices.

eg. you dont really need to be spending $300/mth on mobile phones
eg. you dont have to buy an FPV when a Fiesta will still get you round
eg. you dont need the DTS home theatre system and plasma TV
eg. your first house doesnt need to be in the best suburb, or a mansion
eg. you dont need to drink so much beer or smoke so many cigarettes
etc

Yes, houses are pricey, but its amazing just how much money people squander on stuff they can go without, then cry poor. It's a question of priorities.

I agree 100%.

[parawolf]

Originally Posted by SB076

I would take his advice even if the market is dead, It certainly wont be in 20 years (land is a limited resource) and you cant access your super for at least 30 years. Plus there is no way goverments can keep there hands off your super and I would expect to see it taxed moreso in the future. Fair better off relying on yourself.

You really think government is going to tax super more? Government (particularly Liberal government) want to get the population off their reliance. Personal Super is the way out of the government pensioner scheme.

Bear in mind these is my thoughts, and you just need to look at corporations and governments around the world where the employees are unable to claim their entitlements when required to prove them somewhat substantial.

The funny part is you say that you are better off relying on myself, in what way with boosting my super am I not relying on myself?

Also I am making extra contributions to the house, paying something like $1400 a fortnight to be exact. Just not as much as i "could".

People need to do what is right for them, and with the help of a financial advisor you can set up short term, medium term and long term goals.

Obviously shares and cash are my short to medium term, home ownership is medium and super is long term.

[SSBUB]

80k is an awesome income for any aged person really. I have a degree and working with the government for 40k...but there is one thing to realise - you can work away at the mines or be a labourere and earn good money but you cant do it forever. Your spine will explode by the time your 40 OR if your a mine worker you may wake up one morning, very rich but very alone due to a crappy fly in fly out roster. Im not knocking it, to me its a good temporary option but to me its ust that: temporary. I would rather do my 37.5 hour week at the government office on 40k and slowly climb the corperate ladder within the department.

[loxxr6]

these days i think people , if they want to buy a home and raise a family . have to be looking at careers which pay at least 80,000 pa. with or without ot.

I'm on mid 40k's (or over 50k with ot) in my current job (with additional occasional help from a casual position) and I manage to hold down two mortgages plus car spending, going out and my dj'ing vinyl collection habits. I reckon its doable but then again I share some of the expenses with my g/f (eg rates/strata/car insurance). I'm not under 25 tho (28).

I don't consider what I earn to be a lot.

I would rather do my 37.5 hour week at the government office on 40k and slowly climb the corperate ladder within the department.

This is what I was doing until a redundancy put me out of work. I reckon its not as easy to do this especially if you're in management. This is why I'm looking outside my current position to try and find a better industry to be in(and maybe some outside study to go with it).

[SB076]

Originally Posted by parawolf

You really think government is going to tax super more? Government (particularly Liberal government) want to get the population off their reliance. Personal Super is the way out of the government pensioner scheme.

Bear in mind these is my thoughts, and you just need to look at corporations and governments around the world where the employees are unable to claim their entitlements when required to prove them somewhat substantial.

The funny part is you say that you are better off relying on myself, in what way with boosting my super am I not relying on myself?

Also I am making extra contributions to the house, paying something like $1400 a fortnight to be exact. Just not as much as i "could".

People need to do what is right for them, and with the help of a financial advisor you can set up short term, medium term and long term goals.

Obviously shares and cash are my short to medium term, home ownership is medium and super is long term.

Yes I really think the government (any governemnt) will tax super more in the future. Remember super was never going to be taxed. The amount of money in super makes it a target to raise tax without necessarily increasing income tax.

What I meant by relying on yourself is balancing your wealth/costs to meet your goals, if putting money into super is right by you by all means go for it. However when we are dealing with people less than 25 years of age I would suggest most would stuggle to contribute a great deal to there super (and they wont have access to it for another 35 years) and I beleive most (not all) would be better off paying off there house loans and getting started in life.

I agree everyone needs to do what is right by them.

[parawolf]

Yeah I agree, hence why I keep harping on seeing a professional qualified financial advisor. In regards to super and all that jazz I was spouting before, it was me just illustrating where my investment money is going and some reasons around it. However for other people it could be 100% different. THey might want to spent 90% of these savings buying Gold Bullion. Someone else might want to spend $200 a week on kool mints in the hope that they will become a tradable item.

Get a financial advisor, and shop around for this service as well. You will pay for 'proper' unbiased advice - but that is okay, its tax deducatable I believe (not 100% on that my accountant has those forms at the moment).

[RACINGdork]

Originally Posted by b0son

No offence, but, what a crock! Young people can afford to buy a house, but they just need to make a few sacrifices.

eg. you dont really need to be spending $300/mth on mobile phones
eg. you dont have to buy an FPV when a Fiesta will still get you round
eg. you dont need the DTS home theatre system and plasma TV
eg. your first house doesnt need to be in the best suburb, or a mansion
eg. you dont need to drink so much beer or smoke so many cigarettes
etc

Yes, houses are pricey, but its amazing just how much money people squander on stuff they can go without, then cry poor. It's a question of priorities.

that is the smartest thing ive heard in a long time...except the beer and ciggies bit , but!, its ALL ABOUT PRIORITIES. you wanna house, bill gates aint gonna come up and give you one for free, work hard and save harder

[XR666T]

$80k a year... HOLY COW! I'm 19 and am still kinda undecided as to what I want to do. I could take up a Retail Management Traineeship and be on $40k a year once promoted after 3-6 months, but man the hours are long and sh1t (you're only paid for 40 hours, but usually do 50-60hrs a week) and you don't get paid at all for overtime.

Something I would like to be is a Firefighter, but can't until I'm 21, so I have to find something to fill in the 2 years I have before I can try out. That retail traineeship would be alright I suppose, but the hours and hours of expected and unpaid overtime would suck the sausage.