Business
‘Little progress’ made opening up top jobs to state-educated people – charity
The privately educated are “maintaining a vice-like grip” on the top jobs in Britain, a charity has said, and is calling for employers to be required to report on the economic backgrounds of their workforce.
The Sutton Trust has found the most influential people in the UK remain five times more likely to have gone to a private school than the general population in its report Elitist Britain, similar to what the social mobility charity found in 2019.
Of the FTSE 100 chief executives who were educated in the UK, only a third (34%) attended a state comprehensive school, which the Sutton Trust said has remained unchanged since 2019. In comparison, 37% of these chief executives attended private schools, and the rest went to grammar schools.
Sutton Trust chief executive Nick Harrison said: “It’s a disgrace that most of the top jobs in Britain are still dominated by those from privileged education backgrounds, representing a small fraction of the wider population. Little progress has been made in opening up positions of power, with those from private schools maintaining a vice-like grip on the most important roles.
“In 2025 you can still buy advantage, massively increasing your chance of getting into the most powerful roles in the country.
“This is grossly unfair, and a waste of talent on a huge scale. If we want a fairer country and a stronger economy, employers and policymakers must take responsibility for levelling the playing field, where privilege is no longer a passport to power.”
In the general UK population, around 7% attend private schools.
The Sutton Trust also said more than two thirds of FTSE 100 chairs were privately educated in 2025, in a 15 percentage point increase from 2019. Nearly half (45%) of chairs attended Oxbridge, and 41% went to both private school and Oxbridge.
Around a third of charity chief executives (34%) went to a private school, 62% of senior judges, 52% of the House of Lords, 50% of newspaper columnists, 45% of podcasters, 47% of political commentators, and 47% of permanent secretaries, the charity said. Among permanent secretaries, 66% are Oxbridge educated, up 10 percentage points since 2019.
This year, the Sutton Trust looked at the educational background of social media influencers and content creators for the first time, and found among this group, 18% had attended private school, and 68% went to a state comprehensive.
A poll by YouGov for the Sutton Trust of 1,492 business senior decision makers also found just 9% of employers said they ask whether employees were eligible for free school meals, and only 15% ask about the profession or class background of employees’ parents, similar levels to 2019.
The polling found there has been a slight increase in the proportion of companies saying they were using contextual recruitment, which considers applicants’ credentials in the context of their background. Up 2% on 2019, 17% of firms said they were using contextual recruitment practices.
The Sutton Trust is calling for the Government to require employers with more than 250 staff to report on the socio-economic background of their workforce, and encourage reporting of class pay gaps. The charity also said employers should look at educational achievements in the context of disadvantage.
Carl Cullinane, director of research and policy at the Sutton Trust, said: “This polling suggests that most employers aren’t building a talent pipeline of young people from less advantaged backgrounds.
“And while there have been efforts to make business more inclusive, work on social mobility is patchy, and too often, social class is not included in the diversity conversation. Just one in 10 companies run specific schemes to support employees in terms of social mobility.
“This means they’re potentially limiting their talent pool. Making the most of talent, wherever it comes from, means employers can move beyond a narrow cohort of candidates from the most advantaged backgrounds. This can be a win-win for employers, society and the economy.”
Business
Gold & silver price prediction today: MCX Gold to remain bullish? Here’s the outlook – The Times of India
Gold and silver price prediction today: Gold prices and silver prices continue to exhibit a bullish trend, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:
MCX GOLD Price Outlook
MCX Gold continues to remain on a bullish trajectory, despite witnessing some correction ahead of the recent Federal Reserve meeting. The pullback was more of a profit-booking phase rather than a trend reversal, as the broader sentiment for gold still favors the upside. Currently, gold prices have approached a very crucial support zone around ₹1,09,000 levels, which is likely to act as a strong floor for the metal. As long as prices sustain above this level, the overall structure remains positive, keeping buyers in control.The resilience of gold at this support indicates that market participants are still positioning themselves for higher levels. Key drivers such as global uncertainty, demand for safe-haven assets, and expectations of interest rate policies continue to lend strength to the metal. Technically, holding above the support opens the possibility of a move towards ₹1,11,000 levels in the near term. A decisive breakout above this level may further extend the bullish momentum.On the downside, a breach below ₹1,09,000 could invite fresh selling pressure, but until that occurs, the outlook stays constructive. Traders and investors are advised to remain cautiously optimistic, with a focus on buying at dips near the support zone.
MCX Gold Trading Strategy
- CMP 109800
- Target 111000
- Stoploss 109000
MCX Silver Price Outlook
MCX Silver witnessed a healthy correction from ₹1,30,000 to ₹1,26,000 levels ahead of the recent Federal Reserve meeting, as traders preferred to book profits and stay cautious before the policy outcome. However, this decline appears more like a short-term retracement rather than a reversal in trend. The broader structure of silver continues to remain positive, supported by robust industrial demand, safe-haven buying, and global cues that favor precious metals in the medium term.Currently, silver is finding strong support near ₹1,25,000 levels, which is expected to act as a cushion against further downside. As long as prices sustain above this zone, the bias remains firmly upward. On the higher side, silver has the potential to rebound towards ₹1,29,000 levels, a zone that may act as immediate resistance. A sustained move above ₹1,29,000 could even pave the way for retesting the ₹1,30,000 levels once again.From a technical perspective, dips towards support are being viewed as fresh buying opportunities by traders, indicating continued bullish sentiment. On the flip side, a break below ₹1,25,000 may invite additional weakness. Until then, the outlook remains constructive, and investors may consider a buy-on-dips strategy.
MCX Silver Trading Strategy
- CMP: 126840
- Target:129000
- Stoploss: 125000
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Business
Log Kya Kahenge: Public Comparison Accentuates Money Anxiety, Brings Rs 70 LPA Salary Into Middle Class Bracket, Shares Edelweiss CEO Radhika Gupta
New Delhi: The middle-class definition in India has been a topic of discussion for quite some time now. Due to increased earning possibilities and social media influence on living standards, the definition has become increasingly unclear. A recent podcast by Rahul Jain, where he explored the issue of whether an annual salary of Rs 70 is ‘middle class’ in India, raised the discussion once again.
Responding to the question, CEO of Edelweiss Mutual Fund Radhika Gupta said that in theory, an income of Rs 70 lakh counters the middle-class notion.
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Radhika said that all of us are above middle class and explained that having a salary of 70 lakh does not define a middle-class individual. “What we now like to call middle class is almost cool,” she told Jain. She said, “The reality is – none of us are middle class. The technical definition of middle class cannot be Rs 70 lakh of income. Rs 70 lakh is upper class.”
The Edelweiss CEO claims that numerous professionals in metropolitan cities in India are of the opinion that earning in seven figures is an underpayment. The continuous pressure from social media, high rent and increased standard of living leads more to the conclusion that salary is sufficient. High earners continue to identify as “middle class” due to their upbringing which Radhika views as an identity crisis.
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The Edelweiss CEO said that while all of us have a middle-class background but today most of us are not middle class anymore. “All of us come from middle-class roots. We have middle-class psychosis, middle-class thinking, grandparents who were middle or lower middle class,” she said. “We hold that word very dear to us. But let’s be real, most of us are not middle class anymore,” Radhika said.
According to Radhika, the true middle-class earns between Rs 5–8 lakh annually and not Rs 70 lakh. She believes that it is “meaningless” to assign a single label to all 140 crore people in the country. She says around 10 crore people earn around Rs 10 lakh-Rs 12 lakh per year while more than 100 crore live under Rs 1.7 lakh.
Social media is making it harder to define what the middle class is. She said, “I spoke to a Gen Z kid. I asked why they’re resistant to 60–70 hour work weeks. He said, ‘We have to go to the gym, maintain fitness, take vacations—because we’re competing on social media.’”
According to Radhika, social media comparisons between users exacerbate money anxiety. “The conflict between saving and spending always existed. But today, it’s exaggerated,” she says.
The Edelweiss CEO says that Rs 70 lakh is a high income on paper. However, this amount of money “never feels like enough” in the minds of the general public.
Kevin PeacheyCost of living correspondent
Getty ImagesInterest rates are widely expected to be held at 4% when policymakers at the Bank of England meet on Thursday.
The Bank rate, which heavily influences borrowing costs and savings rates, was cut from 4.25% to 4% by the Bank’s Monetary Policy Committee (MPC) at its last meeting in August.
It took the rate down to its lowest level for more than two years, but many analysts believe there will be no further cuts during the rest of this year.
The decision will be revealed at 12:00 BST and comes after official data on Wednesday showed prices were rising at nearly twice the target level, driven by the higher cost of food.
The rate of inflation remained at 3.8% in August, well above the 2% target. The Bank rate is policymakers’ main tool for controlling inflation.
In theory, making borrowing more expensive means people have less money to spend, which slows prices rises. However, increasing borrowing costs can also harm the economy.
Closely-watched vote
The decision to cut the Bank rate in August was taken after an unprecedented second vote by the nine members of the MPC.
Andrew Bailey, governor of the Bank, said the decision to cut interest rates was “finely balanced”.
Analysts expect Thursday’s vote to be more clear cut, with no change expected.
The relatively high rate of inflation means policymakers are unlikely to risk pushing that higher by cutting the Bank rate.
However, they do expect the inflation rate to start to drop soon, which leaves the possibility open of further interest rate cuts.
The Bank rate has a big impact on the interest homeowners face when taking out a new fixed-rate mortgage.
Lenders use the Bank rate to set their own rates. As a result, the expectation of interest rate rises can push up mortgage rates while the expectation of interest rate cuts can pull mortgage rates down.
Mortgage rates have dropped very slightly since the MPC’s last meeting in August, but further moves are uncertain, according to Rachel Springall, from the financial information service Moneyfacts.
“Many will be waiting with bated breath for the Budget. This waiting game, alongside forecasts for inflation to remain above target, makes it less likely for the Bank of England to make further rate cuts this year,” she said.
She said that savers had seen a downward trend in returns during the time when the Bank has been lowering the Bank rate.
“The average easy access [savings] rate has fallen further below 3%, so savers must act now and switch their variable rate account if it no longer pays a decent return on their hard-earned cash,” she said.
Global picture
The government would be keen to see interest rates fall further, to boost growth in the UK economy.
The Resolution Foundation think-tank, which which focuses on those on low to middle incomes, said living standards needed to improve after a “lost” 20 years of growth.
But ministers will be aware of the inflationary risk that remains in the UK, especially as prices are rising slower in countries such as the US, Germany, and France.
Thursday’s MPC decision will come after the US central bank chose to cut interest rates on Wednesday to a range of 4% to 4.25% for the first time since December.
Last Thursday, the European Central Bank chose to hold its interest its at 2%.
Gold & silver price prediction today: MCX Gold to remain bullish? Here’s the outlook – The Times of India
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Log Kya Kahenge: Public Comparison Accentuates Money Anxiety, Brings Rs 70 LPA Salary Into Middle Class Bracket, Shares Edelweiss CEO Radhika Gupta
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