Minimum wage and why you shouldn’t be on it
Many people in the UK have jobs which pay only minimum wage. Whilst I don’t wish to bad mouth the jobs which these wages are tied to, I am astounded to see so many people just ‘putting up’ with the wage which they are given.
Here are the current levels of minimum wage for all age groups in the UK:
Current rates (from 1st October 2011)
£6.08 – the main rate for workers aged 21 and over
£4.98 – the 18-20 rate
£3.68 – the 16-17 rate for workers above school leaving age but under 18
£2.60 – the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship
Rates from 1 October 2012
£6.19 – the main rate for workers aged 21 and over
£4.98 – the 18-20 rate
£3.68 – the 16-17 rate for workers above school leaving age but under 18
£2.65 – the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship
For people over 21 in the UK making minimum wage, they hope to make roughly £11,674 Per annum. This figure is based on a 40 hour week working 48 weeks out of the year.
For me, this just simply isn’t enough money to live happily on. Struggling with bills from one month to the next, it’s no wonder half the country is getting themselves into debt; it’s a classic case of people wanting what they cannot afford and so drawing on loans and credit cards to surpass their cravings for richer lives. I find it therefore somewhat astonishing that these people whilst running up huge debts, or merely existing with no luxuries in life, have absolutely no intention of pushing forward in their chosen career, or finding a career to begin with in order to increase their wage.
The UK has so many options to give people looking for work/more work/change of jobs:
- Evening classes
- College courses
- Self employment
- Competing companies similar to your current job
These options are all perfectly doable as long as you have the drive and determination to see them through. This is why it frustrates me to hear popular phrases like ‘there are no jobs right now’.
Take a look at your current work situation, then ask yourself the following questions:
- How long has it been since your last pay rise? If the answer is a year or more then you should be asking for one if you feel you have earned it, or be looking at taking on extra responsibility in order to receive a pay increase.
- Are there opportunities in the company for promotion? Moving sideways or remaining stationary in a company is something you should never be doing. Always try to move up the ladder. If the rungs aren’t there for you to progress, then maybe you should be looking around for companies offering the same job you have but that have the potential for you to better yourself.
- Do I have time to fit in an evening class? OK so some of you may genuinely have so much going on in your life that you simply do not have time for an evening class. If you have children to look after you may find yourself with very little time in the evenings to yourself. What I would suggest in this situation however would be to go online or read a book. Spend what free time you have either looking for online courses that can be done bit by bit, or maybe order yourself a book which you can pick up and put down when it suits.
In conclusion there are always ways in which to better yourself. The question is, are we really doing it?
Tagged college courses, evening, job, minimum, rates, self employment, wage
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MoneySavingChallengeMay 4, 2012 at 8:16 pm
Interesting post and i am astounded that people can live on such a small income, or don’t live – judging by the need for credit and pay-day loans.
One point i would disagree with is moving sideways in a job. Although not as good as a promotion in the short-term, moving sideways in a company allows you to try out different roles and potentially find your ideal area of expertise.
In my fairly short career i have taken a couple of sideways moves which allowed me to investigate different career paths. This enabled me to determine what i am good at and enjoy doing, effectively enabling me to earn more money as my career as grown
maria@moneyprincipleMay 5, 2012 at 8:09 am
Jay, I agree this probably is not enough; but then it is also down to where and how much your enough is? There are opportunities around; there is also 29% unemployment rate amongst young people at the moment. It is employers market and ‘it is all in your hands’ is probably the wrong message to give. There is a structural problem! Including the fact that many of these unemployed young people are highly educated and qualified.
I agree on the importance of learning, though! All the time, any time and at any age.
Savvy ScotMay 9, 2012 at 9:37 am
Is it any wonder that people don’t want to work? Why bother when benefits exceed income? We are in a sorry state of affairs
You are right though, there are ALWAYS ways to better yourself!