MC11 Posted April 17, 2017 Report Share Posted April 17, 2017 I've been offered a job in London but what would be a good salary there? enough to live fairly comfortably? I've been offered £35k a year but have countered it and asked for £40k. Am I still leaving myself short? Quote Link to comment Share on other sites More sharing options...
MikeO Posted April 17, 2017 Report Share Posted April 17, 2017 I've been offered a job in London but what would be a good salary there? enough to live fairly comfortably? I've been offered £35k a year but have countered it and asked for £40k. Am I still leaving myself short? Depends entirely on your housing cost MC. I lived in Wimbledon for a decade or so (many years back) and was very comfortably off earning less than that, even allowing for inflation because I had a low rent flat owned by my employer. Too many variables to give a definitive answer but I think you'd probably be alright. Remember you saying you had your own business some years ago, are you giving that up? Quote Link to comment Share on other sites More sharing options...
badaids Posted April 17, 2017 Report Share Posted April 17, 2017 Are you single? Where would you live? Rent is fucking eye watering. How would you get to work? Can you afford a car, or do you plan in insanely expensive public transport? I live in West London and can barely make ends meet with a salary a little more than your counter offer. But I have a family to support and the wife isn't working, so that's the main reason. If you are single and in sensible accommodation with that salary you should be fine, as long as you don't go mad. Tell us more! Quote Link to comment Share on other sites More sharing options...
MC11 Posted April 17, 2017 Author Report Share Posted April 17, 2017 I'm considering packing it in Mike yes! Only under consideration at the moment though. I've been at this crossroads before and I always end up sticking with it. But... This offer sounds fairly good. I'll be a supervisor so not getting my hands too dirty. Company vehicle etc and the opportunity to move up the ladder. Also far less stress than running my own business! Few people have said it would need to be a minimum of 40k to work out worthwhile. I've looked at accommodation and 1 bedroom flats are a minimum of £1200 pcm. Cheaper options are flat shares! Not keen on that! See what they come back with. The area of work I do is really specialists, not many people out there with the experience. Quote Link to comment Share on other sites More sharing options...
MC11 Posted April 17, 2017 Author Report Share Posted April 17, 2017 (edited) Are you single? Where would you live? Rent is fucking eye watering. How would you get to work? Can you afford a car, or do you plan in insanely expensive public transport? I live in West London and can barely make ends meet with a salary a little more than your counter offer. But I have a family to support and the wife isn't working, so that's the main reason. If you are single and in sensible accommodation with that salary you should be fine, as long as you don't go mad. Tell us more! I've a girlfriend and two kids. We're currently renting on the Wirral. Plan is for me to maybe move down to London for a couple of years earn more "guaranteed" cash and get a decent Mortgage here. I've honestly considered getting a camper van and living in that whilst working down there.I know lads that have done it in the past. I can drive have my own vehicles so no problem there! Just need to weigh everything up. Obviously the Mrs and kids will be staying on the Wirral. Self employment is just far too stressful! Edited April 17, 2017 by MC11 Quote Link to comment Share on other sites More sharing options...
MikeO Posted April 17, 2017 Report Share Posted April 17, 2017 My rent at its peak in a really expensive area was £175 pcm for a two bed flat, had happy days there. Elderly woman was a "sitting tenant" downstairs so they couldn't sell the place, basically they were waiting for her to die so they could cash in but she refused to go so they gave me upstairs for a pittance on the understanding I'd leave when she did. But I left first; for sure she's gone now but she was a lovely lady. Quote Link to comment Share on other sites More sharing options...
Sibdane Posted April 18, 2017 Report Share Posted April 18, 2017 (edited) Not great with monetary conversions, but from my experience the cheaper the cost of living the better. I lived in Seattle and paid roughly $1500/month for 900 sq feet whereas now I'm back in MS and paying $715 for 1300 sq feet. I'm happier having more disposable income, yet there are less options in regards to moving up the ladder. May not be helpful in your situation, but having more cash flow each month is important, imo. I will say that if this opportunity provides you with the experience you need to move up in your career, then it's probably worth the sacrifice of paying a higher cost of living. Edited April 18, 2017 by TonkaRoost Quote Link to comment Share on other sites More sharing options...
Hafnia Posted April 18, 2017 Report Share Posted April 18, 2017 Tough one MC. If tell them your situation... I think they will offer you the £40k... is it enough down there? If you like to go out for a pint or have a meal it won't be. Good luck either way. I've been in full time perm employment since the day I left school at 18. First job paid pennies working for a building society. Been at my current employer 19 years this August and the thought of self employment scares the shit out of me. That said.... 2 of my ex team mates took redundancy and are earning £400-£500 a day contracting doing a similar job to what i do. Is contracting something that may interest you? Some serious cash out there to be made. Quote Link to comment Share on other sites More sharing options...
Matt Posted April 18, 2017 Report Share Posted April 18, 2017 I've a girlfriend and two kids. We're currently renting on the Wirral. Plan is for me to maybe move down to London for a couple of years earn more "guaranteed" cash and get a decent Mortgage here. I've honestly considered getting a camper van and living in that whilst working down there.I know lads that have done it in the past. I can drive have my own vehicles so no problem there! Just need to weigh everything up. Obviously the Mrs and kids will be staying on the Wirral. Self employment is just far too stressful! That's a tough one mate, it was hard enough when it was just me and my missus when I was travelling for a week or 2 at a time. Just found this, hope it helps: https://www.quora.com/Is-40-thousand-pounds-a-good-salary-in-London I double-checked the tax brackets too, looks like you won't get shafted if you insist on and get 40k: https://www.gov.uk/income-tax-rates/current-rates-and-allowances I got a 1kCHF promotion after my first year, took me 200chfs over into the next tax bracket and I ended up losing money until the littl'un was born. Anyway, best of luck to you whatever you choose Quote Link to comment Share on other sites More sharing options...
johnh Posted April 18, 2017 Report Share Posted April 18, 2017 MC where in West London? It may be a better option to live outside London and commute. My daughter who moved back to London from Singapore last year is currently renting: 25k p.a. She showed us the houses they are looking at with a view to buying, I wouldn't live in any of them - price bracket 850k - 1.2m. You get far more for your buck outside London. Quote Link to comment Share on other sites More sharing options...
EFC-Paul Posted April 18, 2017 Report Share Posted April 18, 2017 With having transport have you considered living outside of London and travelling to and from? You'll be able to rent for considerably less in say Dartford Gravesend etc with not to far to travel Is your business something you could jump back on with if it doesn't work out? Tough choice tbh mate without actually being in your shoes and knowing all the variables but sometimes you've got to take a chance Quote Link to comment Share on other sites More sharing options...
markjazzbassist Posted April 18, 2017 Report Share Posted April 18, 2017 congrats on the opportunity MC! nothing else to add to the conversation Quote Link to comment Share on other sites More sharing options...
Bailey Posted April 18, 2017 Report Share Posted April 18, 2017 As people have said it's all about the rental costs especially as the market moves so quick on London. The best places will only be on the market for a couple of days at the most, probably not even that. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.