Are Our Earnings Expectations too high?
Published 18 June 2014 by Hayley Cox
Over a third of us are financial underachievers.
Over a Third of us Think we’re Financially Underachieving
- Just 8% are earning more than anticipated
- Education level drives earnings expectations
- Wales and West Midlands residents most likely to overachieve financially
- Northern Ireland and London biggest underachievers
- Graduates more likely than non-graduates to underachieve
- Over-55s happiest with earnings
Over a third (35%) of UK residents feel they’re earning less than they should be, according to a recent poll** conducted on behalf of thinkmoney. Age and level of education were the two strongest influences on our earnings expectations, with older people generally happier with what they earn than younger people and graduates 6% more likely to feel like underachievers.
Age and Earning Expectations
Older people tend to be more content with their earnings. 65% of over-55s said they were earning as well as expected and a cheerful 8% said they were doing better than expected, bucking the national averages. 62% of 45-54-year-olds said they were either doing better than or as well as they expected.
Older people also put more value on age. Three quarters (74%) of over-55s said their age was a factor in salary expectations, compared to the national average of 58%.
People aged between 25-34 had the highest levels of unmet expectations, with 43% of that age group saying they were financially doing worse than expected, compared to just 28% of over-55s.
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