NQT finance survey - results

In March 2007 we surveyed over 800 of our NQT members throughout the UK to try and get a handle on the financial situation facing new teachers today. The results make for interesting reading. Check out our press release by clicking on the link at the bottom too.

1. With how much debt did you qualify	None	20.7%
	£1-£5,000	19.9%
	£5,000-£10,000	19%
	£10,000-£15,000	22.5%
	£15,000-£20,000	13.7%
	£20,000+	4.2%
2. How long do you estimate it will take you to pay your debt off?	Not applicable	21.4%
	Already paid off	2.8%
	1 year or less	4.2%
	1-5 years	20%
	6-10 years	20.7%
	11-15 years	11%
	16+ years	19.9%
3. How would you describe your debt situation?	A heavy burden	26.1%
	As expected for an NQT	37.1%
	Not a worry	16.5%
	None of the above	11.2%
	Other	9.1%
4. Do you pay into the teacher pension scheme?	Yes	88%
	No	10.9%
	Not applicable	1.1%
5. If not, why not?	Cannot afford	36%
	Have not got around to it yet	22%
	Have made other pension arrangements	8%
	Other	34%
6. Is your living accommodation:	Rented	35.9%
	With parents	15.2%
	Owned outright	5.2%
	Mortgaged	39.6%
	Other	4.1%
7. If you do not own a property, would you like to buy in the next five years?	Yes	48.2%
	No	1.1%
	Maybe	5.6%
	Not applicable	45.1%
8. Do you think you will be able to afford to do this on your teacher’s salary?	Yes	11.3%
	No	36%
	Don’t know	12.7%
	Not applicable	40%
9. Have you considered leaving teaching due to the salary and the debts that you have?	Yes	23.5%
	No	68.8%
	Don’t know	7.7%
10. Do you have any regrets about becoming a teacher because of finances?	Yes	25.2%
	No	68.3%
	Don’t know	6.5%
11. Do you know of anyone who has NOT pursued teacher training for financial reasons?	Yes	47.8%
	No	52.2%
12. Do you know of anyone that has dropped out of teacher training for financial reasons	Yes	40.5%
	No	59.5%