What will my life in London be on £74,000?
Jan 22, 2007, 1:20 pm
#31
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You cannot afford to take taxis on £74,000. Period.
I cab it into work some mornings and it costs £8 for a sub-2 mile journey. From the centre of London to Tower Bridge is c£20. From anywhere in west or north London to Canary Wharf it would be at least £20 each way with tip, so £200 per week. And as we worked out that you were only going to have £430 after tax and rent to spend per week, I think you can forget about cabs.
I cab it into work some mornings and it costs £8 for a sub-2 mile journey. From the centre of London to Tower Bridge is c£20. From anywhere in west or north London to Canary Wharf it would be at least £20 each way with tip, so £200 per week. And as we worked out that you were only going to have £430 after tax and rent to spend per week, I think you can forget about cabs.
That being said my employer pays for a cab home so it would be £100 each week. However, I am sure there are better things to do with £100/wk then sit in the back of a cab to work. Also, as has been mentioned in this post the tube system is very good and while not always convenient one can manage. I think my solution would be to load up on Podcasts and just grin and bear it.
Jan 22, 2007, 1:26 pm
#32
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Jan 23, 2007, 5:58 am
#33
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Also, having lived in my current apartment for three years I have never used the oven and can count the times I have used the stove on one hand (most to heat up soup). The change to cooking will be a big one. The lack of cheap eats is a real adjustment having walked back from a friends place at 1:20am and stopping off at a Pizza place for a couple of slices - I don't think I could do that in London.
I learned to cook by the time I got to London and had more time on my hands because I had reasonable hours, but I still relied heavily on Marks & Spencers' fresh semi-prepared meals. Much better than frozen food. You can buy fresh food (e.g. salmon with watercress to be steamed, rosemary potatoes to be roasted) and pop it all into the oven. No work, better quality than frozen food, less expensive than eating out, no mess.
Jan 23, 2007, 11:52 am
#35
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Here's a nice little fixer-upper for you Globalflyer:
http://seattletimes.nwsource.com/htm...72_flat23.html
http://seattletimes.nwsource.com/htm...72_flat23.html
Jan 23, 2007, 3:36 pm
#36
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£74,000 before tax even without bonus for someone at 26 is an incredibly good salary even in London. You would only get such salaries in a trading role in an investment bank with a proven track record.
Many families with children get by on half that salary but I suspect you want a New York Wall Street type lifestyle.
One thing you need to remember about cabs is that traffic moves faster in New York compared with London given all the straight roads and the traffic lights sinking up. However, if you do work long hours at the office, early starts and late finishes, the traffic should move faster at these times. Cabs fares in London are a rip-off compared with New York so it may be adjusting your lifestyle.
Many families with children get by on half that salary but I suspect you want a New York Wall Street type lifestyle.
One thing you need to remember about cabs is that traffic moves faster in New York compared with London given all the straight roads and the traffic lights sinking up. However, if you do work long hours at the office, early starts and late finishes, the traffic should move faster at these times. Cabs fares in London are a rip-off compared with New York so it may be adjusting your lifestyle.
Jan 23, 2007, 5:17 pm
#37
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Here's a nice little fixer-upper for you Globalflyer:
http://seattletimes.nwsource.com/htm...72_flat23.html
http://seattletimes.nwsource.com/htm...72_flat23.html
I think I would rather sleep under my desk and shower at the gym and deal with the associated stigma than live in a walk-in closet.
Jan 23, 2007, 5:29 pm
#38
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I feel like I am way behind my peers.
My roommate in New York made $750k the past year at a hedge fund and is the same age.
Jan 23, 2007, 6:23 pm
#39
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. I enjoyed the replay tie last week 
Of course they never should have had to goto a replay up at eastlands but that's city for you ugh...cheers!
howie
ps. Sorry I went OT..
Last edited by stockmanjr; Jan 24, 2007 at 7:53 am
Jan 23, 2007, 6:30 pm
#40
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Depressing
That being said my employer pays for a cab home so it would be £100 each week. However, I am sure there are better things to do with £100/wk then sit in the back of a cab to work. Also, as has been mentioned in this post the tube system is very good and while not always convenient one can manage. I think my solution would be to load up on Podcasts and just grin and bear it.
That being said my employer pays for a cab home so it would be £100 each week. However, I am sure there are better things to do with £100/wk then sit in the back of a cab to work. Also, as has been mentioned in this post the tube system is very good and while not always convenient one can manage. I think my solution would be to load up on Podcasts and just grin and bear it.
) I think you would enjoy more!cheers
howie
Jan 23, 2007, 9:36 pm
#41
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I would go for sure! That is good money and you would be able to have a fantastic time. I lived in Dublin on a much smaller salary and had a great time. Loads of my friends have moved to London and think it’s a fantastic experience. You have Europe at your doorstep and many great opportunities to see many great places of the world.
I say do it you will have an amazing experience.
I say do it you will have an amazing experience.
Jan 23, 2007, 9:36 pm
#42
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A little more background, I am a 26 year old, single, male, who grew-up in New York and has traveled extensively. My compensation would be £74,000 plus a bonus (however that is variable and I do not want to spend my bonus through the year). I like to go out and have lived in the LES of New York the past few years. I am hoping to spend £450/wk or less on rent.
Jan 23, 2007, 9:52 pm
#43
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When I was over there this weekend there was an article in the Daily Mail that said the average family needed 641 pounds a week after taxes. I was appalled.
Gas was $8 a gallon ( well 89.4p a liter)
The Sunday newspaper was 2pound
A cup of tea 2.40
Basically it appears that everything was the same price in pounds that things are in NYC in dollars. Do you think you could live in NYC on 75K?
Gas was $8 a gallon ( well 89.4p a liter)
The Sunday newspaper was 2pound
A cup of tea 2.40
Basically it appears that everything was the same price in pounds that things are in NYC in dollars. Do you think you could live in NYC on 75K?
Jan 23, 2007, 11:32 pm
#44
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More seriously, as others have said, £74k is a cracking salary that puts you right at the top in the UK. Doubtless some very talented (or lucky) people do earn more than that, but the average weekly wage for a 20-something in the UK is £367. The 90th centile is just over £600. http://www.statistics.gov.uk/StatBas...asp?vlnk=14630
As for those working in London (of all ages) the 90th centile sits at £1050 - again you're comfortably clear of this line.
Perhaps you need to look at what you want from life? If the only gratification you get is dependent on how big your pay packet is at the end of the month then perhaps the move isn't for you. If however you're happy to see this as a brilliant opportunity that will give you a very very well paid job in what is arguably the world's most multi-cultural city AND the world's leading financial centre then that's a different story. The City has presented me with some brilliant opportunities over the last few years and the rewards are now really starting to flow in...
Last edited by Swiss Tony; Jan 23, 2007 at 11:50 pm
Jan 24, 2007, 12:02 pm
#45
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Yes, well, we know about people who get that sort of money - but it is always good to be in touch with the real world, real people and real money.