Youngsters and their views on property?

Discussion in 'Property Market Economics' started by TMNT, 21st Oct, 2015.

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  1. Spanna

    Spanna Well-Known Member

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    I have to disagree, most Law grads are starting on 85-90Kpa with periodic increases.
    I guess you just have to way up the opportunity cost of saving 20% deposit vs LMI / higher IRs, for most a pretty easy decision.
    All the other stuff you mentioned sounds great, but for some isn’t a priority.
     
  2. wogitalia

    wogitalia Well-Known Member

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    I don't know what stats you are using to come up with those figures, according to Hays the range for law graduates at the very top tier firms is from 45k to 70k, so the absolute highest achievers are on 70k, mid and smaller firms max out at 65k. The averages are in the 55-60k range though.

    You're quoting figures for those with 1-2 years experience post admission, in Sydney. If you can find anything to back up your figures I'd love to see it.

    Agree on the rest, for some buying a house is their top priority, they make massive sacrifices to do it. I personally would never recommend the lifestyle choices that buying a house entail for normal people under 25 (those with rich families or incredible jobs should go for it by all means). I personally think that life experiences are more valuable than a piece of dirt long term and that by not taking them at that age you flat out miss out, the land will be waiting for your 30s when you can afford a far nicer place as well.

    Credit to those who do it though, it's a massive commitment to sacrifice travel, partying, eating out and the like and takes great discipline, it's certainly not the easy option.
     
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  3. Daniel007

    Daniel007 Well-Known Member

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    I agree with this, i have friends in the industry and even big 6 grads are only on 75k, most are on far less. To say "most" law grads are on 80k-90k is crazy, the job market for law grads is atrocious at the moment. If you said investment banking i'd agree with you, grads are on 90-100k base + bonuses
     
  4. juzzy

    juzzy Well-Known Member

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    Even then, it is only the absolute cream of Investment Bankers that earn that sort of coin as grads. Generally the kids that get poached out of Uni.
     

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