by Gabriela Yorgova and Paula Fischer
Entering the world of work could be daunting for some, and exciting for others. Many students in London have undertaken this challenge including Islington locals. Holloway Express spoke to students to find out how they cope.
According to Think Student, about 59% of students work either part-time or full-time while attending university. And the Student Money Survey, conducted in 2022, indicated that 62% of students in the UK had a part-time job.
What jobs do they choose?
Retail assistant, waiter and cashier are some of the most common jobs on the market students choose when looking for flexible options.
Nathan Wentworth, 17, a student at City and Islington College, said that his part-time job includes providing customer service and dealing with enquiries at a gardening service. He added that they pay him more than the minimum wage for his age group, but, he says, it is still not enough.
‘Affordable’ life in London
Niamh Savage, 18, a part-time sales assistant and a college student, said: “It [the pay] could always be better because we live in London; […] at the same time, we’re not going to grouch.”
She added: “I like my job but sometimes it could be really hard, especially where I work. We have a quite high-status clientele who come shop with us.”
A press release from GOV.UK revealed that on 1 April the National Living Wage increased by more than 9% for workers aged 23 and over, who are now paid £10.42 per hour.
“If you’re working 20 hours the pay is fine. If you’re working less you might have to reduce your expenses,” said Vanshika who did not want to mention her surname.
Financial help amid inflation
Reports from the British Council show that students spend about £1300-£1400 per month on living expenses in London compared to £900-£1300 in the rest of the UK.
Jake Butler, money expert for Save the Student, argued that inflation could be as high as 14% for students, even with government funding increasing by 2.3%. Data from the survey also points out that the average student’s maintenance loan falls short of covering their living costs by around £439 every month.
According to Blackbullion’s Student Money & Wellbeing 2022 Report, 75% of students surveyed were worried about finances, and 57% of them said that it has a negative impact on their mental health. Coupled with academic pressure, the stress can be damaging.
Vanshika, 26, is a part-time office associate and student at London Metropolitan University. She said: “It is flexible. It is not like I have to work many hours in a week. If I feel stressed for my studies I can let the managers know that I won’t be able to come in this week or on one day because I have my assessment and they are fine with it.
“It can tamper with your lifestyle. If you have a project or something, half of your mind is on your job, the other half is on your studies. But it depends on the job profile.”
The rising costs of living is placing even more pressure on student funds. GOV.UK advises checking with the university or college to see who is eligible for extra money. Students can also look into obtaining bursaries, scholarships or other financial support.
The Hardship Fund supports students from London Metropolitan University, who are struggling with costs of living. You can also find information about what financial support City and Islington College offers here.
Inflation affecting budgets
Every year inflation affects students and other vulnerable groups in society. According to Student Money Survey 2022, the biggest shares of students’ money go for rent and groceries.
More and more students work during their studies to be able to afford necessities as well as expenses for going out and travelling.
Having a part-time job while studying prepares students and teaches them many skills that will be useful in their future careers in addition to earning money.
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