STARTING at the bottom of a firm and working your way up is one way to land a big salary when you don’t have a degree or extra qualifications.
Nigel Foster, 36, now earns five times his starting wage after rising through the ranks of the company where he’s worked for the past 20 years.
It all started after the he buckled to pressure from his mum, and applied for a Saturday job at his local bank aged 16.
A year later, Lancaster-based Nigel decided against further education, and took a full time job at the company working as a cashier on a salary of £10,500.
Fast forward to today and he has a string of promotions uner his belt and now works as a product manager for partnerships at TSB on a bumper annual salary of £55,000.
He told The Sun: “I came out of school and I didn’t particularly enjoy the academic side of things.
“I thought, if I put my head down here [at the bank], I’m on to more of a sure thing.”
He adds: “I’ve always wanted to stand out. I want to do well and be the best.”
Despite perceptions of banking being a stuffy job, Nigel reckons anyone can come into the sector and be a success.
He says: “It’s an industry for everyone. There’s no typical type of person – anyone that comes in and tries hard can do well.”
Now he earns a top wage, but Nigel says he hasn’t been motivated by money and status.
He adds: “People want to progress really quickly – but it takes time and understanding.
“Little things add up in the end and people notice if you’re investing in yourself. You have to work hard if you want to well at anything.”
Since starting as a cashier, Nigel has also worked as a bank manager, personal banker, area director, as well as trying roles within regional operations, before moving into TSB head office and the partnerships team.
He said he has tried to be “flexible” and learn as much as possible about how different parts of the bank work.
Secondments offered by TSB helped him make moves more easily around the company.
And a mentoring scheme offered by the firm has also been invaluable in helping Nigel plan his career.
He explains: “They match you up with someone who has the same background as you.
“That’s what helped me work out what path I will take.”
For the past two and a half years, Nigel has also been studying for a degree apprenticeship alongside his job at TSB.
He says: “I wanted to challenge myself. It’s been the hardest thing.
“But when I finish, that will be the most proud I’ve ever been.”
Despite working at TSB for two decades, Nigel thinks he’s got further still to go in the company.
He says: “I can’t see myself leaving it feels like a family.”
Working your way up in banking
Big companies, such as banks, often have a range of development scheme and training opportunities that can help workers who start in entry level roles work their way up through the company.
TSB says all its entry level roles have no degree requirement with the exception of specialised roles such as lawyers.
As Nigel found, mentoring schemes can be an invaluable way of understanding the career routes of people more senior in the firm.
They could explain the skills that you need to obtain or work on to make your move to the next level.
Mentors can often turn into key connections that will inform you of job opportunities or guide you through applying for a promotion.
It’s worth asking your employer if there are any opportunities to be matched with a mentor. Most workplaces are happy to facilitate such schemes.
Even if you didn’t choose to go to university after school, there are lots of employers that provide opportunities to study as part of work.
TSB’s degree apprenticeship schemes – focused on data and digital skills – are open to all employees.
The bank also has apprenticeships that generally lead to professional qualifications across a range of different areas such as mortgages and project management.
We recently spoke to an KFC restaurant manager who started on minimum wage but studied for a degree through the company and is now a restaurant manager.
And someone else who works in their dream job earning £54,000 with no degree.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
September 17, 2023 at 01:52PM
from The Sun