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Will my wife need to work after my MBA?

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Will my wife need to work after my MBA? [#permalink] New post 31 Oct 2010, 18:29
Hello,

I'm from outside Europe and I have a very odd question.
I'm planning to spend some years in London after my MBA. My wife tells me that after my graduation, my salary will be so high that she does not want to work after my diploma.

Suppose that I do conquer that degree (say, at Imperial College).
How much would be my salary and will this be enough to have my wife plus 2 children living in london?

Thanks in advance! :)
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Re: Will my wife need to work after my MBA? [#permalink] New post 31 Oct 2010, 18:55
Depends on what job you get, also... Salary maybe high, but so will tax... so it depends on what type of lifestyle you wish to have and where you intend to live. If you want to live in the plusher parts of London, then your wife will probably have to work. If you want your kids to have private education, then your wife will have to work.

If you are happy to live in the outskirts of London and not splurge on luxuries, then it should be possible.
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Re: Will my wife need to work after my MBA? [#permalink] New post 31 Oct 2010, 20:27
Agree with togafoot- it completely depends on what job you secure, whether you have any debt from getting the degree, the kind of lifestyle you wish to maintain, and your personal financial goals. Is it possible? Most definitely! But only you and your wife will be able to determine whether it would require too many sacrifices on your part in order to be worthwhile.

I'm unfamiliar with Imperial's statistics, but you should check their website- universities often publish figures on average salary after graduation.

Best of luck making this a reality!
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Re: Will my wife need to work after my MBA? [#permalink] New post 31 Oct 2010, 23:57
I echo the same tone. There is too many factors involved in living in London. I started off here at a salary which was less than half of what I get today (three years hence), but my expenses have gone up a lot as well.

So its going to be a function of if you want to live in central London or further out ? If you want to own a house or rent ? And of course hoe much you earn .... But in London, however much you earn, its easy enough to spend it all :d
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Re: Will my wife need to work after my MBA? [#permalink] New post 01 Nov 2010, 09:43
I would agree with everyone else also. It comes down to the type of lifestyle you want to live and maintain for your family. You're probably best speaking to a financial advisor to get their thoughts.

Also, not to sound like a pessimist, but with only one spouse working in the family, aren't you sorta putting all your eggs in one basket? What happens if there's a prolonged sickness, layoff, or other external factors outside of your control?
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Re: Will my wife need to work after my MBA? [#permalink] New post 02 Nov 2010, 02:49
Thanks guys!

I thought that after the MBA, money wouldn't be a big deal to live in a good place, travel, have some good spend in the credit card and have a good car
But it seems it is not the case, right?

(i've already thought about sickness, unemployment, etc.)

thanks!
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Re: Will my wife need to work after my MBA? [#permalink] New post 02 Nov 2010, 12:38
My new favorite topic! Maybe you can use this for the "What matters most to you and why?" essay? :lol:

Seriously though, yours is an interesting question. I'd like to know more about the prospects of Imperial grads generally. I understand that it's a recognized name within the UK, but I don't know how well established the MBA is. Are Imperial grads landing good jobs that can pay well enough for our wives to stay home and watch soap operas?
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Re: Will my wife need to work after my MBA? [#permalink] New post 02 Nov 2010, 13:03
It's all about what is the level of comfort you have in mind ?


As I see it the best MBA grads can maybe get a £70,000 or £80,000 base pay. Is that good enough for you ? I am not convinced it is !

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Re: Will my wife need to work after my MBA? [#permalink] New post 06 Nov 2010, 10:47
tell her to keep her day job. mba's are great but i don't think it's gonna be the holy grail she's looking for.
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Re: Will my wife need to work after my MBA? [#permalink] New post 20 Nov 2010, 06:45
If both of you are able to work... you both should! There's no point in trying to 'survive' on one persons salary if there can be two coming into the household.

Edit: Unless you have a load of kiddies at home or something.
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Re: Will my wife need to work after my MBA? [#permalink] New post 20 Nov 2010, 06:54
Expert's post
I am not sure about London but in the US, it is often just as cheap to have one of the parents stay at home with 2 children as paying for daycare (and you actually get to raise your kids). So it may be a moot point and based on her expectation she will probably stay at home regardless of your salary :)

On the other hand, nobody can live (survive maybe) on a single income in London :)
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Re: Will my wife need to work after my MBA? [#permalink] New post 21 Nov 2010, 12:34
I guess I am old school to think that one salary to provide can be sustained in any part of the world you live in. It all depends on your choices, how you are willing to live and what you are willing to give up. However, as Vwjetty said, the MBA will not be the ultimate solution if you guys are barely surviving as it is.
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Re: Will my wife need to work after my MBA? [#permalink] New post 05 Jan 2011, 18:17
Tell her to keep her day job. Better yet ask how she would feel if you chose to become an academic post-graduation on minimal salary where she will be the primary income in the family. See how long you will stay married then.
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Re: Will my wife need to work after my MBA?   [#permalink] 05 Jan 2011, 18:17
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