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veeruthakur
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Joined: January 8th, 2007, 4:51 am

HSMP income requirement

August 2nd, 2007, 1:22 am

I am going to file an HSMP application and I was wondering if money earned in internships will count towards the total income.
 
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sunmaker
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Joined: February 11th, 2006, 6:33 pm

HSMP income requirement

August 2nd, 2007, 1:42 am

Why would they care whether the money comes from an internship or not? What they want to know is your earning potential, right? As long as you can provide documentation backing up your salary claim I'd be surprised if they separated 'internship' from regular job. The only problem I see is if all you have is a 2-3 months internship over 12 months then your salary won't look too good anyway..
 
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DominicConnor
Posts: 41
Joined: July 14th, 2002, 3:00 am

HSMP income requirement

August 2nd, 2007, 6:26 am

They do give some weight to whether the job requires a degree, so I think you're OK.However, I'd try and get a piece of paper from your bank referring to it as "graduate employment" or something.Bits of paper are good.
 
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Topologist
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Joined: July 9th, 2007, 10:55 pm

HSMP income requirement

August 7th, 2007, 7:21 pm

For what I understand, the HSMP application only takes into account money earned and not potential salary... right?
 
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spice
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Joined: March 22nd, 2006, 11:53 am

HSMP income requirement

August 7th, 2007, 7:25 pm

QuoteOriginally posted by: TopologistFor what I understand, the HSMP application only takes into account money earned and not potential salary... right?Yes, they want proof of your income in the last 12 months.
 
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DominicConnor
Posts: 41
Joined: July 14th, 2002, 3:00 am

HSMP income requirement

August 7th, 2007, 8:02 pm

Yes, it's proven income.I think that's a real defect...Obviously the motivation of the HSMP is to suck smart people into Britain, ones who can pay their own way.Given that London is now the world's largest finance centre, we ought to be using the markets to solve that.I'd have it so that one could get a guarantee of income.This would take two forms. Either the employer could underwrite it, or the candidate could buy insurance against not earning the necessary sum.
 
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Topologist
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Joined: July 9th, 2007, 10:55 pm

HSMP income requirement

August 7th, 2007, 9:14 pm

Oh I see... thanks for clarifying.Maybe this has appeared in previous posts but I think that an HSMP that only takes into account previous income is a real disadvantage for current PhD students. And this is precisely the kind of people that the UK cannot afford to let go. On the other hand, I wonder if a PhD student who receives a scholarship from his/her country, if this money would be considered as UK income or as overseas income where the points are different. Any thoughts?
 
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spice
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Joined: March 22nd, 2006, 11:53 am

HSMP income requirement

August 7th, 2007, 9:19 pm

QuoteOriginally posted by: TopologistOh I see... thanks for clarifying.Maybe this has appeared in previous posts but I think that an HSMP that only takes into account previous income is a real disadvantage for current PhD students. And this is precisely the kind of people that the UK cannot afford to let go. On the other hand, I wonder if a PhD student who receives a scholarship from his/her country, if this money would be considered as UK income or as overseas income where the points are different. Any thoughts?If you are a science and engineering student from the UK, you get a one year free work visa. This is arguably even better than the HSMP as you don't have to pay.
 
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PlasticSaber
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Joined: April 28th, 2007, 8:17 am

HSMP income requirement

August 7th, 2007, 9:54 pm

QuoteOriginally posted by: spiceIf you are a science and engineering student from the UK, you get a one year free work visa. This is arguably even better than the HSMP as you don't have to pay.Not an expert in this. But, I think the visa free scheme has now been extended to fresh UK graduates from other disciplines (e.g. master of finance).
 
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veeruthakur
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Joined: January 8th, 2007, 4:51 am

HSMP income requirement

August 8th, 2007, 2:14 am

Does the fact that the offer letter says 'quant associate' or 'summer associate' help?
 
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RiskCapital
Posts: 1
Joined: November 16th, 2005, 11:41 am

HSMP income requirement

August 8th, 2007, 4:19 am

QuoteI am going to file an HSMP application and I was wondering if money earned in internships will count towards the total income.they take account 12 out of ur last 15 months salary, if you been a student then you need to show your last 12 montsh income before your studies... probably i m guessing your in UK , its better you take a work visa .. on fresh graduate scheme for 12 months ... once your have a job paying above 25-30k then apply for HSMP...but the problem with fresh graduate scheme is if you end up getting a income below 20K chances are very thin to get HSMP.... second, some places they ask for HSMP as it is taken as a quilification...as compare with fresh graduate scheme for more check on workingthings website or home office...
 
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MF01
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Joined: August 5th, 2005, 8:13 am

HSMP income requirement

August 13th, 2007, 9:18 am

I would go with RiskCapital's suggestion.
 
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sd786
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Joined: September 22nd, 2006, 10:33 am

HSMP income requirement

August 13th, 2007, 7:14 pm

QuoteOriginally posted by: MF01I would go with RiskCapital's suggestion.... and PRAY they dont change the law by then!