The Daily Mail carries a story which says that today’s teenagers expect to earn around £60,000 by the time they are in their mid-thirties.
The article is based on a Royal Bank of Scotland survey of 12,000 teenagers.
According to The Mail, ‘On leaving education, they anticipate a salary of about £16,600, rising to £35,400 by the time they are 25 and hitting £61,700 by their mid-30s.
But the reality is rather different, with the average 18 to 21-year-old earning just £8,595 – rising to only £18,705 for workers in their 20s and £24,333 for those in their 30s.’
News today indicates that UK household incomes may be facing the biggest drop in income levels in the last 30 years according to Think Tank The Institute for Fiscal Studies with incomes returning to the 2005 level.
The blog is uncertain whether to applaud the teenagers’ ambition or weep at their naivety.