Latest news with #StandardLife
The Sun
2 days ago
- Business
- The Sun
Best jobs to switch to mid-life without taking a pay cut & you won't need a degree – including £64k role
LOOKING for a fresh mid-life career start but don't want to take a pay cut or go back to university? Luckily, there are employers hiring NOW for roles where you can learn on the job and get paid up to £64,000 a year. We also reveal why men are more likely to shake up their careers in their 40s. Job satisfaction hits rock bottom in your 40s, based on a survey of 100,000 workers by the University of Surrey. At this age, workers are more likely to feel frustrated in their role and demotivated about their career path, the study showed. Men are particularly at risk of feeling the job switch itch. One in five men aged 44-59 is actively hunting for a new job, while 38% have thought about their career options, according to research from Standard Life. Mike Ambery from Standard Life said: "Lots of men in their 40s and 50s are taking a long, hard look at their careers, and thinking about making a change. "The idea of having one job for life with a traditional career pathway is fading fast. "These days, more people are favouring 'squiggly careers' – where they move between roles or industries over time. "That flexibility has advantages, especially as most of us will be working longer than previous generations." Ready for a change? Jobs site Adzuna has compiled a list of 15 jobs that are ideal for a mid-life career switch. These careers are best for job hoppers because they are available to a wide range of age groups, AND they offer attractive salaries. Plus, you don't need a degree to switch to these jobs, making them ideal for those who want to skip going back to university. Some require training, although many of the roles listed provide on-the-job training so you can earn as you learn - here's what you need to know. We've researched how much you can earn at the start of these new careers based on average salaries - and you may have to take a pay cut. But you can get the qualifications for some of the jobs through evening courses, so you don't have to sacrifice your existing salary. Highest paying roles hiring NOW The highest paying role that tops the list is a software developer. They create and test computer programmes used by workers. Surprisingly, there's no need to go to college in order to retrain. Instead, you can apply for an apprenticeship and earn on the job. The average software developer salary is £64,530. It's £26,000 for an apprentice. You can also study part-time through evening classes, so you don't have to pack in your day job. Some are free while others can cost over £2,000, with course lengths ranging from around 15 to 26 weeks. Visit the National Careers Service website to find an online or in-class course that works for your schedule. You'll typically be working a 37 to 40-hour week with occasional evening and weekend shifts - so it might not be the right fit if you need more flexible hours. You'll be well-suited to the role if you've got a keen eye for detail, have strong analytical skills and are proficient in coding. Best of all, there are plenty of roles going. There are currently 19,950 vacancies advertised. Next on the list is a project manager. You might think these roles are just in construction, but project managers can work in any industry and oversee projects from start to completion, ensuring targets are hit and budgets met. Salaries for this type of role average out just below £59,681. You'll be well-suited to a role in project management if you've got strong leadership skills, are well-organised and can communicate effectively. There is no need to carry out formal training to land a role, either. There are 39,298 vacancies for project managers available. Third on the list is an automation tester. Don't be put off by the technical-sounding name - this is someone who tests software to identify bugs or issues. Someone looking to get into this profession can do an online course in coding or even teach themselves. But you can also do apprenticeships and earn while you study, with them usually lasting 12 to 24 months. The maximum grant you can get from the government to cover your apprenticeship is £18,000. Individuals who enjoy problem-solving, have a knack for detail, and possess strong analytical skills are well-suited to this role. You might have to fight for a job though - there are just 19 vacancies advertised on jobs sites. Fancy being a sparkie? Electricians earn around £48k a year once fully-qualified. You'll work up to 45 hours a week and may need to respond to customer call-outs across a specific patch. The most popular way of making it into this profession is via a college course, which can cost up to £7,000 or an apprenticeship, where you'll earn around £24k a year at the start. You can also take part in flexible courses that fit around a full-time job - some let you study on weekends and others in the evening. Just expect to pay from around £1,000 to upwards of £6,000, depending on who is running the course. There are around 14,367 roles available for electricians. Next on Adzuna's list is a data analyst. They collect, organise and study data to solve business-related problems like how revenue can be increased. You'll find these types of roles across different sectors, including healthcare, technology and retail. You don't have to go to university to land a role as a data analyst either - you can get there via an apprenticeship route. You'll likely be suited to this role if you've got strong analytical skills and are good at maths. It comes with a steady pay packet too - just over £46,000 a year - and there are currently 12,622 roles being advertised. Apprenticeship salaries range between £18,000 and £25,000. The jobs where you can earn up to £44k Next up are plumbers, who can earn around £44,826. Anyone good with their hands and who hates the idea of being bolted to a desk is well-suited to this role. One of the best routes to being a plumber is via an apprenticeship, where you'll start off on an annual salary of around £24,000. Your daily roles will involve installing and repairing water and heating systems in homes and commercial buildings. You'll typically work up to 45 hours a week. There are 6,490 roles currently available - so apply now. Watched Selling Sunset and think you can do better? Why not try being a real estate agent? The average salary is £43k a year. STEVEN Eden went from working in the army to earning around £43,000 as a lorry driver. The ex-soldier and dad-of-four in his late 40s from Wigan now works for Asda, hauling food to stores, unloading and reloading empty cages, after making the switch in 2021. He used to work in the army, where the average salary is much lower at £30k, according to the jobs site Indeed. He said: "I can have the radio up, I'm my own boss. It's me all over, and it's so rewarding. "I'm doing good for other people, filling people up [with food]. I like the manual bits of taking the frozen food off. 'And I've got a few driver friends – they're all in good spirits.' It took Steven about 12 months to do his training, including getting his HGV licence, but he reckons it can be done in as little as three months. He then had a two-week breathing period before being buddied up with another driver. 'You don't get chucked in the deep end,' Steven added. But within six weeks, he was signed off and ready to go on the road on his own. He said: 'That was a good feeling. It was a big step - I was made up.' To become a lorry driver, you'll usually have to be over 18 and comfortable with working alone on the road. You'll need to have a full car licence and a professional qualification called the driver Certificate of Professional Competence (CPC), which means you can be a commercial driver. You will also need to pass your HGV driving test, with the costs of training up to £2,000. However, there are not-for-profit organisations, like Veterans into Logistics, that work with ex-military to cover these costs. The job involves assisting clients in buying and selling their homes, guiding them through the process from start to finish. You might also have to find rental properties for someone to move into, or help a landlord source tenants. One major perk of becoming an estate agent is that you don't need a formal qualification to land a job. You could also be a claims handler, which is someone who assesses and processes insurance claims. They review documents and investigate whether someone is owed a payout, and how much. Expect to earn around £41k in the role once you're qualified, but you'll start on around £17,000 if you're going down the apprenticeship route. There are 16,559 roles, suited to someone with a keen eye for detail, available right now. Next up is an accountant. Most people will be familiar with this job, which comes with an average salary of £46,160. Bag this job and you'll be employed by organisations and private clients to audit financial accounts and provide advice on where money could be better spent. You can learn to become an accountant as an apprentice, earning anywhere from between £17,000 to £26,000. You'll be suitable for the role if you've got strong numerical and analytical skills. There are loads of accountant jobs out there as well - 23,931. Account managers, who build relationships with existing clients and source new ones to drive sales, also feature. Land this job and you could end up earning £45,069 a year, and you won't need any formal training. Someone who is naturally extroverted and competitive will do well in this type of role, of which there are 56,022 roles currently available. A pipe fitter, as the name suggests, installs and repairs industrial pipework, valves and sprinklers in factories, commercial properties, ships and larger buildings like power stations. You can earn £42,308 in this job, which most people get into via the apprenticeship route, which pays around £18,000 at the start. But jobs are few and far between - 2,512 according to the latest data from Adzuna. How to smash an interview LEE Biggins, from CV-Library, gives his top tips for nailing that all-important job interview. "To smash any job interview, start by doing your homework - research the company, prepare solid answers, and think about how your past experience links to the new role. "Whatever your age or background, employers want to see a willingness to learn, passion for the role and industry and an adaptability to thrive. "This matters even more when switching careers. "Show the employer you're eager, driven, and ready to get stuck in. "Make sure your CV is well tailored to the role and highlights your transferrable skills and proves why your experience makes you a great fit. "Remember, you're up against people already in the industry, so come prepared with industry knowledge and a fresh perspective may set you apart." Heavy Goods Vehicle (HGV) drivers transport goods from one location to another, earning on average £40,981. You become an HGV driver by obtaining a Driver Certificate of Professional Competence (CPC), which costs between £400 and £500. You get one of these by passing five tests and taking 35 hours of Driver CPC training every five years to stay qualified. There are currently 6,842 of these roles available, well-suited to anyone who enjoys routine and has the ability to drive for long stretches of time. Meanwhile, a car salesperson primarily sells cars to customers but may also organise test drives in order to drive business. Someone in this type of role earns on average £40,139, without any formal qualifications needed to get started. A sales advisor focuses on direct customer interaction, often in a retail or sales setting, driving sales to a business. Someone in this role will earn on average £37,684 a year, with 38,798 of these jobs currently available on the market. A recruitment agent is essentially the same as a salesperson, acting as a bridge between job seekers and employers to fill open positions within businesses. There are currently 28,649 of these roles in the market, which pay on average £36,247. You'll do well as either a sales advisor or recruitment agent if you're outgoing, talkative and naturally persuasive. Why switching to one of these jobs could pay So why are these 15 jobs so worth changing to in later life? Sarah Carroll, career expert at Indeed, said a lot of different sorts of skillsets can be applied to these roles, making them easy to switch to. "Employers today increasingly value transferable skills, experience, and resilience - all qualities mid-life professionals can bring in abundance." Some of the roles are across sectors experiencing major growth in the UK, like logistics and construction. Lee Biggins, founder and chief executive officer of CV-Library, said: "With a £500billion investment into UK construction and a surge in logistics and warehousing, there could be endless opportunities to upskill." Lack of time is a major stumbling block for workers looking to shift their careers mid-life too, but of the list above, plenty offer on-the-job training so your budget won't take too big a hit. Lee added: "Plenty of roles offer on-the-go training, apprenticeships or even sponsorships. "Or, you can use AI tools like ChatGPT to provide you with industry-rich knowledge needed to quickly access the industry you're looking to switch to."
Daily Mail
15-07-2025
- Business
- Daily Mail
Gender pay gap revealed: England and Wales way down the league table with Belgium top
The Uefa Women's Euro 2025 football tournament enters the quarter finals stage this week as teams fight it out for a place at the final on July 27. The England team struggled against France in the opening game, but performed well against Netherlands and Wales as they look to repeat the run which enabled the Lionesses to win the trophy three years ago. They play Sweden on Thursday. But Standard Life has already found a winner for another European cup - it looked at the gender pay gaps of all 16 nations taking part at the football event. The Uefa nation that wins is Belgium – where women are paid on average 0.9 per cent less than men, data from the pensions firm and life assurance firm shows. In contrast, England and Wales are among the worst, with a gap of 13.1 per cent on discrimination on work pay. For other countries at the Union of European Football Associations tournament in Switzerland only Germany, with a gap of 14.2 per cent, and Finland, on 16.1 per cent, treat women worse than men when it comes to salaries. Belgium have already been knocked out of the tournament. But by calculating who is best at tackling gender pay discrimination in the workplace, Standard Life believes the final of the eight would be between Norway and France, with Norway winning as the country's pay gap is 4.7 per cent, compared to France, on 6.2 per cent. Although the Lionesses will hopefully be victorious against Sweden on the pitch, if they were playing gender pay gap rules, they would be unceremoniously dumped out at the quarter finals stage – as the pay gap between men and women in Sweden is much less at 7.5 per cent. Norway would beat Italy in the quarter finals, as the latter has a pay gap of 4.9 per cent, while the match between Spain, with a gap of 6.6 per cent, and Switzerland, on 12.1 per cent, would see the hosts knocked out before the semi-finals. The game between heavy weights France and Germany, would see France victorious as it has a lower pay gap between the sexes of 6.2 per cent. Patrick Thomson, head of research analysis and policy at Standard Life, says: 'Women are still losing out when it comes to having enough money saved for retirement – made worse by the inequalities of our financial systems. 'Despite often contributing a higher proportion of their income into pensions, women retire with significantly less due to their lower lifetime earnings.' League table: Belgium is the clear winner of the Euro 2025 gender wage gap - while Finland is ranked bottom Other countries already knocked out are Denmark, with a 5.4 per cent pay gap, Netherlands on 5.8 per cent, Portugal 10.0 per cent, Iceland 10.8 per cent and Poland 10.9 per cent. The figures come from the Organisation for Economic Co-operation and Development. The average pay gap throughout Europe is calculated at 9.7 per cent.
Daily Mail
08-07-2025
- Business
- Daily Mail
Pension savers back City watchdog's plan for finance firms to give them 'targeted' help
Pension savers broadly back the City watchdog's plan for finance firms to offer them 'targeted' support with managing their money, research shows, with many viewing it as a stepping stone to regulated financial advice. Pension savers think the Financial Conduct Authority's proposals offer the opportunity for them to receive more relevant help with their financial decisions, according to a consumer panel conducted by pension provider Standard Life. It said many welcomed its ability to filter out information that isn't relevant to their circumstances. Even though the panel was aware targeted support would not provide personalised recommendations, the response was still overwhelmingly positive. However, those with larger pension pots or more complex financial situations were less likely to see targeted support as a relevant tool for them. Consumers also said targeted support has the potential to reduce feelings of anxiety and a sense of being overwhelmed that they feel when making complex financial decisions, Standard Life said. Standard Life research form 2024 indicates that as many as 41 per cent of those aged between 45 and 60 were nervous about financial decisions that they would have to make in the coming years. Cath Sermon, head of public engagement and campaigns at Standard Life's Centre for the Future of Retirement, said: 'Our study shows that even people with a good grasp of other financial areas of their lives, such as mortgages or Isas, often feel confused about pensions. 'This can lead people to feel anxious, overwhelmed and worried about the risks of making uninformed decisions. 'Savers like the clarity, the ability to whittle down the options to more relevant information for themselves and to be able to review that, but also the emotional role that targeted sport could play. 'The panel came back to the sense a lot of them have of not being aware of the decisions they're going to need to take, therefore not really feeling prepared for that decision making and thinking of the risks involved with getting it wrong.' Fewer than nine per cent of people received financial advice in 2024, FCA data shows, but as many as 17 per cent used the Government-backed MoneyHelper service, indicating that free guidance in the form of targeted support could benefit many of those who don't choose to take regulated advice. Firms will be able to charge for targeted support, but the FCA said its research shows that a majority of firms will not do so. Last week, the FCA launched a consultation on the proposed targeted support service, calling for financial firms and consumer groups to weigh in, with the Government looking to roll out targeted support from early next year. The consultation, open until 29 August, will allow firms to have their say on the FCA's updated proposals for targeted support. Sarah Pritchard, deputy chief executive of the FCA, said: 'These once-in-a-generation reforms will help people navigate their financial lives and give them greater confidence to invest. This is a win-win for consumers and firms alike.' Targeted support is intended to allow financial firms to offer suggestions to customers based on what the FCA calls 'reasonable assumptions' about their financial circumstances. The new system will not be classed as regulated financial advice, and will instead take the form of generic suggestions on what consumers should do with their money, based on what others with similar finances do with their money. This could include suggesting to those who hold large sums of cash that they should move some of their funds into stocks and shares. However, what form this guidance will eventually take remains to be seen. A key takeaway from Standard Life's panel was that online tools alone would not provide enough reassurance or clarity to savers, with many saying they would like the option to speak to someone. Sermon told This is Money: 'one of our recommendations to providers would be to think about providing an ability for people to speak to someone. 'Many on the panel said they would like to know that there's an ability to have human interaction as a backup or reassurance, none of them were expecting that to take them any further than targeted support.' She added: 'It's really just having the ability to sense check what suggestions they've had from online tools.' There are also concerns from savers that they can't trust that the suggestions made by providers have the customer's interests as a priority, rather than their own. Standard Life said: 'They were most receptive to targeted support when they see it as giving them relevant information and choice, or protecting them from harm, rather than selling anything.' The solution, Sermon says, is to create a set of voluntary best practice principles that companies can share as targeted support develops. 'We don't want it to become a straitjacket because that could limit the evolution of [targeted support] something's written very tightly in regulation from day one,' she said.
Yahoo
06-07-2025
- Business
- Yahoo
Warning issued for millions of state pensioners who plan to retire before age 74
A warning has been issued for millions of workers who plan to retire BEFORE the age of 74. Millions of state pensionrs face working until 74 after a new state pension warning was issued with the Department for Work and Pensions (DWP) told to act. State pension age is currently set at 66, but a new report is saying this should rise to 74. In its latest report, the IFS said: 'Increases in the state pension age required to keep spending on the state pension below a certain level of national income would have to be substantial. '[Official] modelling shows that to keep public spending on the state pension below 6pc of national income while retaining the triple lock, the state pension age would have to rise to 69 by 2049 and 74 by 2069.' READ MORE: State pensioners aged over 66 can get £441 a month with these conditions READ MORE: DWP handed new benefit shake-up proposals for PIP and Universal Credit claimants READ MORE Major high street brand cuts 1,200 jobs as sales fall by nearly £100million Mike Ambery, Retirement Savings Director at Standard Life, said: 'The report correctly identifies widespread under-saving and gaps in pension provision. 'We are supportive of their conclusion that there is not a one size fits all solution to these problems but there is a need to be more inclusive, particularly for the self-employed, as well as for younger workers who are not yet included. 'The risk of over saving for those on low incomes is significant but so too is the need for most of those on average or higher earnings to save more. 'Striking the right balance will be a key challenge of the adequacy review, and any change would need to be carefully considered and in consultation, especially with employers.' Jonathan Cribb, an associate director and head of retirement at the Institute for Fiscal Studies pointed out that an underlying problem centred on the NHS and social care: while state pensions and pension benefits were estimated to increase by £45bn by 2050, he said, the pressure on public finance from health and social care was estimated to rise by £105bn in today's terms over the same period.
Sky News
06-07-2025
- Business
- Sky News
Digital wallet provider Hyperlayer closes in on £30m funding boost
A British fintech which counts Standard Life among its key clients is close to finalising one of the industry's biggest funding rounds so far this year. Sky News understands that Hyperlayer, which is run by the former Morgan Stanley executive Rob Rooney, is lining up a major equity injection led by CDAM, a UK-based investment firm, and several new institutional investors. City sources said this weekend that the new capital from CDAM and other backers could total at least £30m. The funding round is expected to take place at a post-money valuation of about £160m. Hyperlayer, which operates a consumer-facing digital wallet called Hyperjar, intends to use the new funding as growth capital to finance the development of new partnerships with global banks and asset managers. The company provides smart account technology on existing client infrastructure, and is said to work with a number of the world's ten largest banks - although it has not publicly disclosed their identities. Its work with Standard Life involves the future launch of a consumer money app aimed at people approaching or in early retirement. Hyperlayer's consumer-facing platform sees customers organise their money in what the company calls "digital jam jars", enabling them to earn rewards which give them access to partner brands such as Asda, Morrisons and Starbucks. IKEA and the John Lewis Partnership are among the other merchant partners with which Hyperlayer is working to develop distinctive loyalty-based initiatives for its financial institution clients. Founded in 2006 by Adam Chamberlain and Scott Davies, CDAM has $1.5bn in assets under management and is an experienced investor in financial services technology. Mr Davies has had a seat on Hyperlayer's board for several years. Mr Rooney, who was a prominent Wall Street executive for years, ultimately serving as Morgan Stanley's technology operations, joined the company as CEO in 2023. The new capital injection led by CDAM is understood to be subject to approval by Hyperlayer's shareholders.
