It takes a long time to train (7-8 years for a first degree and then a PhD); and few more years of post-doctoral research. But by the time you get a lecturing job in your early-mid 30’s you should be able to earn more than £30 – £35k; and by the time you reach the top of the lecturing scale, you’ll be earning a fair bit more than that. So, it’s probably more than a school teacher (in the end), but less than if you work in industry, or the civil service. The plus side is that I have a lot of freedom to research whatever interests me.
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