Business Graduate Starting Salaries

bs2014

Hi all, I'm a final year Business Studies student, just wondering what is the general starting salaries for business graduates. Would it be less than 30k or ever over 30k? A lot just state competitive and tbh I know its not the be all and all, but lets face it, its pretty important. When one lives in Dublin away from home, rents a room in a house, try keep a car on the road and safe some money for the future, I've predicted one would need to be starting off on minimum 30k to at least live somewhat comfortably, is this the case? Any companies that pay well and those that don't would be greatly appreciated:)

maneno

You will be lucky to get 30k fresh out of college,
Some companies do start at that,
Most grad roles are from 21k, saying that,there are a few who got close to 30k mark in a financial services company,good luck!

bs2014 wrote: »

Hi all, I'm a final year Business Studies student, just wondering what is the general starting salaries for business graduates. Would it be less than 30k or ever over 30k? A lot just state competitive and tbh I know its not the be all and all, but lets face it, its pretty important. When one lives in Dublin away from home, rents a room in a house, try keep a car on the road and safe some money for the future, I've predicted one would need to be starting off on minimum 30k to at least live somewhat comfortably, is this the case? Any companies that pay well and those that don't would be greatly appreciated:)

sawfish

Trying Googling "Salary Survey".

danthefan

The likes of the Big Four start you in the low 20s (I think it's around 23k). The likes of Accenture start you on 31k. So it really depends, but the former would be a lot more common than the latter.

bs2014

Thanks Guys! Ye what ya have said is what I somewhat expected the reality! One does really have to question the motive to work endlessly for 4 years and get a college degree, I would be safer living back home and working full time in a shop or bar, when you compare the cost of living in Dublin and down the country! And as regards to getting onto the property ladder, I doubt anything under 30k will stand much chance getting a mortgage!

danthefan

bs2014 wrote: »

Thanks Guys! Ye what ya have said is what I somewhat expected the reality! One does really have to question the motive to work endlessly for 4 years and get a college degree, I would be safer living back home and working full time in a shop or bar, when you compare the cost of living in Dublin and down the country! And as regards to getting onto the property ladder, I doubt anything under 30k will stand much chance getting a mortgage!

Well the idea is you're not going to be on a low wage in Dublin forever, do a few years, progress your career, learn new skills, and go from there. As a young person just coming out of college I also don't know why you'd be even thinking of buying a house tbh.

bs2014

danthefan wrote: »

Well the idea is you're not going to be on a low wage in Dublin forever, do a few years, progress your career, learn new skills, and go from there. As a young person just coming out of college I also don't know why you'd be even thinking of buying a house tbh.

That is true, however, I'm just trying to plan for the future and with dublin house prices expected to rise by 12% this year, the sooner get onto the ladder the better I think! Property and rent dear enough as it is, better be paying towards mortgage than rent!

whippet

bs2014 wrote: »

That is true, however, I'm just trying to plan for the future and with dublin house prices expected to rise by 12% this year, the sooner get onto the ladder the better I think! Property and rent dear enough as it is, better be paying towards mortgage than rent!

it is 2014 not 2004 ..... finish college, rent a flat in dublin, enjoy earning a few bob, do stuff, enjoy life ........ in a couple of years you will then hopefully be earning a few more quid due to experience .... find your self a lass / lad to settle down with and then think of mortgages and all the other boring stuff

Bandana boy

It would be unusual to see a Bus graduate start on more than €25K in Dublin these days in fairness they are ten a penny loking for work.

But in fairness that is a decent salary for a raw graduate and if they cannot live on that ,then they are going to have serious problems trying to add a Mortgage ,kids etc. later in life unless they have a serious steep carer trajectory

danthefan

bs2014 wrote: »

That is true, however, I'm just trying to plan for the future and with dublin house prices expected to rise by 12% this year, the sooner get onto the ladder the better I think! Property and rent dear enough as it is, better be paying towards mortgage than rent!

I'm a few years older than you (but not that many) and I can't even imagine being tied to a mortgage for the last few years. You immediately make yourself far less mobile (as in you could get an opportunity in London/the US/wherever), you can't pack up and go traveling for a year, and you're simply not going to be able to afford it on the salary you'll be on. Just put it out of your head for the time being, honestly.

In a few years time you'll be on more money, you'll possibly have a husband/wife/fiancee/partner to live with so you'll have two incomes between you, and then settle down.

blindsider

OP - some good advice here re mortgages etc.

Also, unless you're applying for a proper "Graduate Programme", you will be competing with all sorts. Some won't have a degree, but will have experience, and some will have both! Realistically, you're on the bottom rung of the ladder until you have at least 6 months experience.

Your grades will have a bearing - some of the better employers will only consider CV's that have 2:1 or above on them. How are the grades?!

You will need to demonstrate quickly how you add value to an organisation - and 4 yrs of college isn't the answer. Hard work, dedication, team player and reliable are some of the answers.

if you can get ANY job with a reputable organisation, then take it. They will have the resources to train you, and internal opportunities will be an option - it's so much easier to apply internally. If/when you leave, interviewers will immediately favour your experience over someone who worked for No-name Inc.

Hope it goes well for you!

bs2014

blindsider wrote: »

OP
Your grades will have a bearing - some of the better employers will only consider CV's that have 2:1 or above on them. How are the grades?!

Grades going good so far, very confident of securing a high 2.1, with a minimal chance squeezing a first. I have worked from I was 16 part time and did a 14 month internship year last year in a large multinational, so quite confident I have a decent experience to date. Thanks for advice.

Mr. Loverman

Graduates expecting to start on over 30k? Really?

Your goal for the next few years should be to enjoy your life (you cannot get your youth back... don't waste it), get some experience, and be happy.

I'm sorry to say this, but it sounds like you're being influenced by an older person (a parent, whatever) who has old beliefs on things. "Property ladder", "rent is dead money", etc. Forget that nonsense.

I can't imagine having had a mortgage at 21. What a waste that would have been.

doolox

Property will not be as liquid or easy to shift at the right price as it was in the past. Id guess and say that mobility would be a better thing to have rather than be stuck with a mortgage at the start of your career. Your boss will know you have a mortgage and less likely to be able to jump ship if he loads you down with work and low pay rises compared to more mobile work colleagues...always be coming across as willing to move and change roles and locations so as to keep the bosses guessing and unlikely to land you with a high workload and low pay.

This is very hard to do if they know you have a house and a mortgage tying you down to one location, their location. Mortgage providers will need to know your employment status and conditions of employment so it is impossible not to let your boss know about your mortgage.

Like all things in life there is a balance to be struck, come across as loyal enough to attract training and development opportunities but not so loyal as to put up with low payrises and heavy workloads in comparison to other co-workers.

sock puppet

A lot of graduate programmes are closed at this stage, though they'll hire a few more students as people drop out. So if you want to work with a "big" company you may to have to wait until next year

Boaty

A friend of mine finished his four year course in Business studies in DCU back in May. He went back to the same company he did his intra with.
Starting off at 31k with his Accountancy exams paid for upfront roughly 8k worth .

jamesbondings

Anyone know if this would be roughly the same for a business and language degree?

bs2014

Boaty wrote: »

A friend of mine finished his four year course in Business studies in DCU back in May. He went back to the same company he did his intra with.
Starting off at 31k with his Accountancy exams paid for upfront roughly 8k worth .

Thanks Boaty, this is somewhat comforting news! Your friend defo struck it lucky!

danthefan

jamesbondings wrote: »

Anyone know if this would be roughly the same for a business and language degree?

Unless your very fortune or very very very clever it's the same for nearly any degree.

blindsider

bs2014 wrote: »

Grades going good so far, very confident of securing a high 2.1, with a minimal chance squeezing a first. I have worked from I was 16 part time and did a 14 month internship year last year in a large multinational, so quite confident I have a decent experience to date. Thanks for advice.

Go back to them - tell them how wonderful you are etc etc!

No worries - best of luck!

Mrs OBumble

Many people who like in Dublin don't bother running a car.

I you choose your accommodation wisely, public transport is adquate, and a lot cheaper overall. Car = black hole for money, when you add in maintenance, NCT, insurance, parking on top of petrol and the capital cost.

bs2014

Mrs OBumble wrote: »

Many people who like in Dublin don't bother running a car.

I you choose your accommodation wisely, public transport is adquate, and a lot cheaper overall. Car = black hole for money, when you add in maintenance, NCT, insurance, parking on top of petrol and the capital cost.

That is very true, but unfortunately, for someone who is car fanatic like me, that reality is difficult to digest! ha

okiss

Hi Bs2014

I would give you some advice you need to hear at the moment.
If your are about to graduate from college you need to know you will not be in a position to get a mortgage for a few years. You need to be earning a decent salary, have a good savings record and a good credit history.
Also you need to be in secure employment.

I would also take on board what another post said here that
If you are looking for work you need to be flexible which you won't be if you have a mortgage (your boss will be aware of this also). If you can remain flexible for a few years you can change jobs/do exams/ move abroad which will benefit your career/earnings long term.

A few years ago I know some one who bought a car after leaving college. When they moved to Dublin the looked at the car costs and decided to get rid of the car but they used a bike/lucas/bus and an odd taxi instead.
They saved what they were spending on the car each month and moved job a few times. Within a few years they had a good salary, a decent deposit and they got a mortgage.
If you could save €500 a month for 12 months = €6000 a year = €18000 over 3 years not including interest earned
If you could save €600 for 12 months - €7200 a year = €21,600 over 3 years not including interest.
Set up a regular savings account and get x amount taken out of your salary as soon as you get paid each week or month as soon as you get a job.
If you don't have this money you won't miss it. When you get a pay increase/change jobs increase this amount and in a few years you could have a decent amount of money saved.

If your using public transport to get to your job see if you company will buy your ticket under that tax saver scheme. You pay for this out of your salary each month but this will save both you and your boss tax/prsi costs.

bs2014

okiss wrote: »

You need to be earning a decent salary, have a good savings record and a good credit history.

A few years ago I know some one who bought a car after leaving college. When they moved to Dublin the looked at the car costs and decided to get rid of the car but they used a bike/lucas/bus and an odd taxi instead.

Thanks Okiss for the really sound advice. Living in Dublin and having a car is quite a waste unless one needs to commute outside dublin or drive for work. I have a car 2 years now, which is loan free as I worked from I was 16. I suppose despite being frugal with my money, I don't have a credit rating as per say, as I never borrowed money before. I am a regular saver with my bank so would this go favourably for when applying for a mortgage in a few years time.

Despite my car being a major part of me, I am actually considering selling it and using public transport, and seeing how I would survive for a year or so, but unless you know me personally, know ones knows how me and my car are joint at the hip!!

But thanks for the advice, its very tangible!

Mrs OBumble

bs2014 wrote: »

That is very true, but unfortunately, for someone who is car fanatic like me, that reality is difficult to digest! ha

Ya .. but if you rent every 3rd weekend, you will get to drive some mightty nice cars and pay a truckload less.

Use a rental car broker (eg www.arguscarhire.ie) and book the 2nd cheapest type. Sometimes you will get the ****ty Nissan Micra etc that you booked. But sometimes you won't

JonKelleher

The top commercial law firms pay their graduates 37k +