How much will I earn in IT?
The IT industry offers good salaries whether you want to start work at 18 or go to university and get a degree first. You're unlikely to become a millionaire, but if you want a well paid career this is a good industry to look at.
Starting salaries for IT higher apprenticeships and sponsored degree programmes
Starting salaries for higher apprenticeship and sponsored degree programmes typically range from £14,000 to a little over £17,000 per year. However, National Grid’s higher apprenticeships in cyber security and national critical infrastructure have a starting salary of £23,500 – perhaps because the organisation also accepts graduates onto these programmes.
Higher apprenticeships and sponsored degree programmes typically last several years, and if you make satisfactory progress it’s likely that you’ll be awarded pay rises – perhaps once a year. For example, on Ford’s four-year IT higher apprenticeship you will start on £17,077 but be earning £24,840 by the final year of the scheme.
Not quite sure how much money this is in ‘real’ terms? If you stay living with your parents you should be comfortably off, depending on how much they expect you to contribute towards household costs. If you are paying them a nominal amount rather than market-rate rent, you should easily cover your day-to-day spending plus be able to afford to go on holidays, buy a car and/or start saving for the future. If you need to relocate (or just want to move out) money will be tighter but you should be able to rent a room and pay for your own living expenses.
Starting salaries for graduates in IT
Starting salaries for university graduates in their first IT job vary widely. You might typically earn somewhere between £19,000 and £30,000, though some jobs pay more or less.
While these salaries are higher than those for higher apprenticeships or sponsored degree programmes, don’t forget that a full-time degree will take three years or more, during which time those in work will probably have had several pay rises.
Take a look at What graduate salary can I expect in an IT job? on our graduate careers site TARGETjobs to find out more.
How much will I earn in IT when I have more experience?
According to IT Jobs Watch, the average annual salary for an IT support analyst is £32,500, the average salary for a developer is £45,000 and the average salary for a technology consultant is £50,000. If you climb the career ladder and end up managing a team of colleagues you could earn more – typically between £50,000 and £85,000, according to Ben Broughton at Premier Group Recruitment. Again, see What graduate salary can I expect in an IT job? to find out more.
What do these salaries mean in practical terms? Of course, it depends how expensive an area you live in but these are good salaries that should allow you to buy a house and have plenty to spend on your life outside work.