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TOP STORIESObscure six figure jobs which will leverage your financial services contacts27 October 2009By Sarah Butcher COMMENTSyou made me laugh out loud thanks Sarah, good stuff!! You can add escorting in the list, $$$!! Read all comments »Last time we ran an article on six figure jobs outside banking, we were lambasted for suggesting things that take years to train for and aren’t immediately accessible to former financiers locked out of the market (eg. becoming a GP)
Given that the CEBR is predicting that it will be 2021 before employment in the City of London recovers to its highs of 2007, there may be plenty of time for retraining. However, for those in need of readier cash, the New York Post offers a few alternatives.
According to the Post, personal trainers, chauffeurs, high end estate agents (and strippers) are all earning the equivalent of £100k a year in New York. Our investigations suggest it may be possible to earn this amount in the following roles in London.
Personal trainer
Most personal trainers don’t make huge amounts of money. They do, however, have the advantage of looking fit at all times. If the aesthetic advantages aren’t enough for you, you’ll need to pitch your training services at the high end market – ex-banking colleagues still in work, and their wives.
The average personal trainer in a gym earns around £40 an hour, but has to pay around £500 a month to the establishment. Based on a (possibly optimistic) 30 hour working week, this leaves £4,300 a month gross.
However, high end personal trainers with celebrity clients and a following among size zero housewives can charge $300 an hour according to the Post. This would appear to hold true in the UK: “the UK’s top fitness expert’ Dax Moy charges £150 an hour.
To make really big money out of personal training, you will, however, need to get a brand and write books about being fit.
Chauffeur
The Post claims to have unearthed a chauffeur who’s earning up to $20k a day. Sadly, we couldn’t find a comparable specimen in London.
However, we did speak to Trevor Langley, who runs a chauffeur franchise company called Pinnacle. Based on the following calculation, Langley says individual drivers are unlikely to clock up more than £44k a year – you charge £50 an hour and work a 40 hour week, amounting to £8k a month. However, over a year you could easily have ‘operator costs’ (nice car etc) amounting to £44k, leaving you with £52k. Unlike a personal training career, chauffering may also leave you fat and unhealthy.
However, Langley says it’s possible to earn more by becoming a franchisee (through him) and running several different cars at once.
Close protection
This is one that wasn’t specified by the New York Post, but which we are proud to have unearthed ourselves: close protection (AKA ‘bodyguarding’).
According to this guide to bodyguard careers, some close protection people are earning £1,500 a day. The clear disadvantage is that they are only earning this much because the job is ‘high risk’ and they may die before they get to spend it. A close protection officer at one organization which schools bodyguarding types, says it would be impossible to earn £1.5k a day with no experience. Initially, you’d be looking at £150-£200 a day, she says. However, with a few years’ protecting under your belt, this could easily rise to £500 a day.
Most close protectors are self employed and work through agencies. You don’t need to be a black belt at karate, although it may help. “All VIPs are looking for different things – they might want someone who can horse ride or can ski,” she says.
COMMENTSMax1, Trading, Tue 27 Oct 09you made me laugh out loud thanks Sarah, good stuff!! You can add escorting in the list, $$$!! Add your comment »Douche, Investment Banking / M & A, Tue 27 Oct 09Good one Sarah!
Henwee, Consultancy, Tue 27 Oct 09Only about 1% of employees outside finance and insurance earn over £100k a year in the UK. The best way to get rich outside the City is to start your own business. Add your comment »Walter, Industry & Commerce, Tue 27 Oct 09Doing #1 can help you catch #2, and you can just do it lying down in your plush pad. Add your comment »Sarah, Editor, eFinancialCareers, HR & Recruitment, Tue 27 Oct 09@Walter - ? number 2 is being a chauffeur. You do that while sitting in a car. Add your comment »K, Derivatives, Tue 27 Oct 09Good article guys!
Krump, Capital Markets, Tue 27 Oct 09Actuary is not bad if you like that sort of thing. Add your comment »rantej, Wed 28 Oct 09I hope the present batch B school MBAs dont read this... won't do them much good considering they are going through their interview rounds now :-) Add your comment »Peter Campbell., Private Banking / Wealth Management, Wed 28 Oct 09Another quite interesting but very demanding post is that of butler. Few, it seems are willing to commit to being a serveant and being "on call" most of the time. Tipping the forelock doesn't come easily to Brits these days despite the attraction of a salary often well in access of GBP100k.
david.snell, Consultancy, Wed 28 Oct 09Sarah, I had a good giggle about the content, but on a more serious note, it is possible to earn good money providing CP. Obviously it depends on your "Principle", the risk factor, whether you or the organisation is licensed by the HO to carry and ultimately use.
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