Don't know about salaries in the UK, but 40k/year doesn't sound too outrageous to me for an entry level position that requires a master's degree.

UK salaries are consistently lower (in face value) than US/Canada counterparts. However, the salaries are usually higher outside of academia in non-social fields...

@Helena Please take into acount that £40k corresponds to about $50k. Also, salaries in Europe are often lower because the costs of hiring someone are much higher on this side on the Atlantic. It could be worse, though. For instance, don't ever expect much more than €20K (£18K, $22K) for your first job in Spain

David, are you talking about gross or net? £40k net outside of London would be a nice paycheck which I believe can be possible, considering the degrees/qualification the OP mentioned, even with no prior hands-on work experience. An offer of £40k gross I would consider an effrontery, even outside of bigger cities in the UK. Quoting Mandela: "If you pay peanuts - you get monkeys.."

@iLuvLogix £40k with no experience or demonstratable (or historic) value is gonna be a hard sell outside of London. The salary figure is always the gross, pre-tax amount.

@iLuvLogix I am talking gross salary. The qualifications the OP presents may be of little to no worth for most companies. Experience is way more relevant than qualifications

@David do you have specific knowledge of the sector?

@user8881471984 I graduated in Mathematics with a final project on Financial Time Series. I then went on to study a masters in Statistics and work for a private company (technological consultory), then a research foundation. For someone with a similar background but a PhD level, I have never heard of anyone above 30k

As a London Based data scientist with a maths degree - You'd struggle to get £30K as a starting salary in London, besides what you'd be paid out of London. I'm not even making 40K yet and I've been two years working in various data roles

@David maybe academia is the way forward!

@Bee did you start a data scientist graduate job?

@Bee also I would be interested in what sector you work in, is it finance-related?

It depends what you mean by that. No in terms of they weren't advertised as "graduate jobs" but yes in terms of they required a graduate degree. I actually recently moved companies to the tune of a 20% pay rise, I was working in account management for a data marketing and analytics firm and now work in Reg tech and compliance as a data scientist (so yes finance). No one I know who graduated either with me, or a year later with a masters is making a similar amount to me and I haven't seen any graduate roles that were more than my starting salary (or there about)

@user8881471984 Sorry, I don't like theft (I don't want to get paid unless someone is willing to give me that money). I am happy with my current job conditions

@Bee thanks, I see, thanks! One last question, do you see enough promotion in your current job to reach £70k or £80k by say 50!

@David I don't understand your comment? I didn't move because of the money, I got offered a fantastic opportunity working in a role I was looking for because I didn't like my old company. The pay rise was just a happy bonus

@Bee Sorry, I tagged the wrong user

@David are you comparing academia to theft?

@user8881471984 Every public-funded job is paid with stolen money. I consider theft immoral, that's why I don't work in academia. I respect anyone else's choice to do so, but I don't want it for myself

@user8881471984 on my current trajectory, yes, but I'm only 24 so I have plenty of time... It's fairly common with someone working in data science/developer/programming to move companies quite a lot so " in your current job " may not be the case

@David I will disagree with you here, but thanks for your input.

@Bee thanks for your input! Best of luck.

@user8881471984 the overall answer David has given is very good though, and best of luck to you also

@Bee yes, I am just struggling with how much weight the asset pricing factor will play. I see graduate jobs for MSc Finance degrees at around £40,000, but my struggle would be getting one of these jobs with the lack of experience, compared to academia when I now have more and more experience, researching and teaching etc. glassdoor.co.uk/Salary/…

@user8881471984 I'd take the hit now going for a role at a smaller company where they can't afford to pay as much, but tend to be willing to overlook the lack of experience. You'll probably move up the ranks faster there and then, when the time is right, can move onto a more senior role a bigger firm

@Sam

Nice final point by Bee

Thanks David. I personally think your answer was great