I'm in a very similar position. I gained a very good distinction at MA level but only a 2:i at Undergraduate, including a resit in the first year. I have had to submit the full transcript and don't really fancy my chances for AHRC funding, but it's always worth having a bash. I've seen the recomendation forms for AHRC funding and they ask for comments on UG degree first (including ranking within the department and average grade), and then comments on MA degree, grade and ranking. If your dissertation mark is high that will count in your favour. You may well stand a very good chance, but it depends on the competition. Good luck, and let us know how you get on
:-)

First of all don't panic! I studied at Leeds and I currently work there and so am involved in the 'economies exercise'. What is happening at Leeds is a result of a national funding crisis- the government perceives of universities as inefficient systems, and this perception is likely to be intensified whatever the election results this year. Consequently, all Universities will be operating on a significantly reduced funding council income from 2010 onwards. The main priority at Leeds throughout all this uncertainty and change is to protect the student experience. One possible impact is that we might see a reduction in the amount of scholarships and bursaries offered to new students. If you are applying for entry in 2010 this shouldn't affect you because the University will honour its advertised scholarships. By next year all of the decisions should be made, and the changes will begin to be implemented, and so you will be in a better position at Leeds than if you started a course somewhere else only to find yourself in the midst of restructures, reviews and unrest. Leeds is a great University with a fantastic postgraduate community and it has the tools to sustain this reputation in future years. The NSS scores are consistently high and the University is well-ranked in the league tables with an strong international research profile. Although I did not study at the Business School but I know that it is considered to be one of the University's 'peaks' and its academic staff are first-rate.

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Yep, Natassia is quite right. Current scales suggest post-doc research assistant work, outside of London, earns between 26-32k, lecturer B positions earn from 33k upwards and Senior lecturers earn from 38k. Professorial salaries are usually not published because there is SO much variation between age, gender, experience, but in the Arts they start at 60k and can go up to 120k. The most senior medics draw salaries of up to 250k. Within London the salaries are, on average, a good 5k higher.

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Hey Leaf, don't be too disheartened. You should take this as a sign that your prospective supervisors really know their stuff- which is precisely what you want at this stage.

I was in a similar position a few weeks ago. I had made email contact with my ideal potential supervisors who were really encouraging about the project. I was invited for an 'informal chat' after which they said they would be happy to assist with my funding applications. I made sure my draft funding applications were checked by as many academics at my previous institution as were willing to read them, and sent my prospective supervisors the best possible draft funding statements I could conjure up. Their responses were a bit flat- they pointed out texts I hadn't even heard of- and I felt really quite deflated by their comments. However, I have taken on their comments and tweaked my proposal and its now a lot stronger than it would have been.

I think this kind of situation is a bit of a test for both you and your supervisor, and how you respond is a good indication of how your relation might develop. You should expect constructive criticism from your supervisor, that is what they are there for!