# Decent Salary?



## cyimski (Apr 2, 2011)

Hello,

I've been offered a position at a UK company which would pay me 55,000GBP/year. Is this a good salary to live in London with a spouse (who may not find a job for a while)? 

I live in NYC and am aware of high cost of living but I make significantly more in NYC and am taking a paycut. So I'm concerned that this salary will make life a bit more difficult. 

Any advice would be appreciated. 

Thanks.


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## Johanna (Apr 13, 2009)

cyimski said:


> Hello,
> 
> I've been offered a position at a UK company which would pay me 55,000GBP/year. Is this a good salary to live in London with a spouse (who may not find a job for a while)?
> 
> ...


Not a great salary for London, but more than most Brits earn.

Why on earth do you want to move to a very expensive place and take a paycut?

Forgive me if the question is of a personal nature, I just think that one has to be very careful in the current financial climate!


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## cyimski (Apr 2, 2011)

Johanna said:


> Not a great salary for London, but more than most Brits earn.
> 
> Why on earth do you want to move to a very expensive place and take a paycut?
> 
> Forgive me if the question is of a personal nature, I just think that one has to be very careful in the current financial climate!


Hello,

Thank you for your response. So in your opinion, what IS a decent salary to live in London for 2 people? 

As for reason, there are a few. While $ is important, it doesn't mean everything and the position I've been offered will prove to provide much better growth and opportunity in the long run. Besides, I have always wanted to live in a different country and this opportunity was hard to pass up automatically. 

Thanks in advance for your help.


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## Johanna (Apr 13, 2009)

cyimski said:


> Hello,
> 
> Thank you for your response. So in your opinion, what IS a decent salary to live in London for 2 people?
> 
> ...


Difficult answer, your question was whether this was a decent salary. It all depends on your life style, what you expect from life, what you are used to, how often you want to travel, do you intend buying property and what about transport?
Some people manage on £25k pa ( not sure whether one can do that in London?) 
If you are young and not concerned about money ( as you have mentioned...) then give it a go!! You will be close to Europe for travelling, London ( and the UK) offers such a lot of cultural and historical events!¬
Seems to me you have made up your mind in any case, I just replied to your original question!
Have lots of fun in London! It is a great city!


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## Weebie (Sep 16, 2009)

London is actually quite cheap IMO I've lived there on a similar wage than you. 55k is comfortable and you will be fine, I was still able to booze it up every night on that wage.


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## Psychofool (Feb 23, 2011)

55000 is loads I'm surviving on around maybe 12k. It all depends where you want to live (I'm in London ) and what type life style you choose


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## jlms (May 15, 2008)

55000 is plenty, even for London.

You will not live in the nicest places (unless you are prepared to pay exorbitant amounts of money for a studio flat) but will not live in a dump, unless you chose to do so.

I lived with a bit less than that in Notting Hill for a couple of years (3 minutes out of the door and I was jogging in Kensignton Gardens) and in North Greenwich, and I would do it all over again  (even adjusted for inflation, before other people point this...)


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## JonnyJonny (Apr 24, 2011)

cyimski said:


> Hello,
> 
> I've been offered a position at a UK company which would pay me 55,000GBP/year. Is this a good salary to live in London with a spouse (who may not find a job for a while)?
> 
> ...


To put things into perspective median pay in London is approximately £30k, so half of Londoners get by on less than £30k. Admittedly it's not an entirely fair comparison as some lower earners might be young adults still living with parents, or living in heavily state-subsidised accommodation, and you of course have a possibly non-working spouse.

I'd suggest that cost of living in London and NYC is about the same actually (based on limited experience, admittedly).

But basically £55k is a decent wedge in London, although of course it's up to you. Out of interest why do you want to move to London in order to earn less? Most expats move countries to earn more....


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## JimJams (Jan 11, 2010)

Yeah, that's a decent wage and housing may well be expensive in central London but you can always live in the suburbs and commute in. An hour or slightly longer journey into work is not unusual in London, it takes me over an hour door to door and it's only a 15 mile journey! A lot of the rest of it depends on your lifestyle, how much you go out, drink, etc etc. I'm currently on £50k, single but I live quite an expensive lifestyle to be honest and I still have plenty left over every month. You should probably expect to lose about a third your wages in direct taxation...

As well as a good career move for yourself, as mentioned earlier Europe is on your doorstep so that has to be a big plus. But good on you for not making it just about the money and realising the bigger end goal.


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## JonnyJonny (Apr 24, 2011)

JimJams said:


> Yeah, that's a decent wage and housing may well be expensive in central London but you can always live in the suburbs and commute in. An hour or slightly longer journey into work is not unusual in London, it takes me over an hour door to door and it's only a 15 mile journey! A lot of the rest of it depends on your lifestyle, how much you go out, drink, etc etc. I'm currently on £50k, single but I live quite an expensive lifestyle to be honest and I still have plenty left over every month. You should probably expect to lose about a third your wages in direct taxation...
> 
> As well as a good career move for yourself, as mentioned earlier Europe is on your doorstep so that has to be a big plus. But good on you for not making it just about the money and realising the bigger end goal.


I'd agree with most of that, but it's worth noting that it is possible to live affordably in central-ish London and even walk to work if you want to. When people move to the suburbs it's generally for reasons of lifestyle choice more than financial necessity (i.e. they want a reasonable-sized house & garden, a quiet area and good local schools as opposed to an inner-city flat).


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## JimJams (Jan 11, 2010)

JonnyJonny said:


> I'd agree with most of that, but it's worth noting that it is possible to live affordably in central-ish London and even walk to work if you want to. When people move to the suburbs it's generally for reasons of lifestyle choice more than financial necessity (i.e. they want a reasonable-sized house & garden, a quiet area and good local schools as opposed to an inner-city flat).


Yeah, very true. I have lived in London and outside, you get a lot mroe for your money outside of london but you have to put up with longer commute and train journeys!!! Really depends on your lifestyle, I am planning on going to Canada then Australia, and plan on staying as central a location in a city as possible, mainly for the nightlife.


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## kaslavin9 (Jan 25, 2011)

I too am moving to London in September (29 year old female, single, looking for a job in the footwear/fashion industry)... Can you be more specific on what you mean my central-ish London as far as being affordable? I have been focusing in on South West London (Brixton, Putney, Stockwell) b/c that is where the people I know live but all suggestions are welcome!
Thank you
Kelly




JonnyJonny said:


> I'd agree with most of that, but it's worth noting that it is possible to live affordably in central-ish London and even walk to work if you want to. When people move to the suburbs it's generally for reasons of lifestyle choice more than financial necessity (i.e. they want a reasonable-sized house & garden, a quiet area and good local schools as opposed to an inner-city flat).


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## cyimski (Apr 2, 2011)

JonnyJonny said:


> I'd agree with most of that, but it's worth noting that it is possible to live affordably in central-ish London and even walk to work if you want to. When people move to the suburbs it's generally for reasons of lifestyle choice more than financial necessity (i.e. they want a reasonable-sized house & garden, a quiet area and good local schools as opposed to an inner-city flat).



What would you consider to be "central-ish London"? I'm curious as to where these neighborhoods would be located (i.e. West? South? North London?)

Thanks!


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## JonnyJonny (Apr 24, 2011)

kaslavin9 said:


> I too am moving to London in September (29 year old female, single, looking for a job in the footwear/fashion industry)... Can you be more specific on what you mean my central-ish London as far as being affordable? I have been focusing in on South West London (Brixton, Putney, Stockwell) b/c that is where the people I know live but all suggestions are welcome!
> Thank you
> Kelly





cyimski said:


> What would you consider to be "central-ish London"? I'm curious as to where these neighborhoods would be located (i.e. West? South? North London?)
> 
> Thanks!


I am talking zone 1 of the tube map! Many places around the edges of zone 1 are affordable (especially to the south and east). To name a few stations, you can certainly find some pretty inexpensive places around Elephant & Castle, Shoreditch High Street, Aldgate East and King's Cross. I appreciate that these areas mightn't be to everyone's tastes, but if you are prioritising a central location and are happy with a very inner-city feel then they are worth considering.


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## nyclon (Apr 3, 2011)

cyimski, I think you need to think long and hard about taking a "significant" pay cut to move to London. I understand that this could lead to career growth but honestly, you should never take a position that is going to make you worse off financially. My husband and I moved to London from NYC and he got a significant pay raise. London is expensive. Much more expensive than NYC. That pay raise allowed us to maintain our modest lifestyle. You have to think about your lifestyle. Yes, moving to another country is exciting and an experience, but if you are going to be struggling financially and not able to maintain your lifestyle along with all the other adjustments you will have to make, you're going to end up hating it.

Here is website which will help you determine your take home pay:

UK PAYE Income Tax Calculator 2011 salary calculator UK. Updated for 2011 / 2012 tax year. Calculate wages pension national insurance and student loan repayments online.

What sort of budget are you looking at for rent? That of course is going take the biggest chunk of your take home pay. Like others have said, the further you get from Central London, the cheaper things get. But, Zone 1 is going to be expensive. Period. Also, you have to pay council tax which varies by borough and roughly by the size of the flat. Could be £100/month, could be £300, but it's another montly expense to think about. The City of Westminster in Central London has one of the lowest council taxes in London. It is also one of the most expensive areas in London as far as housing prices and rent. 

So, again my advice is to really research you housing costs and other expenses and give serious thought to your potential move to London.


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## cyimski (Apr 2, 2011)

nyclon said:


> cyimski, I think you need to think long and hard about taking a "significant" pay cut to move to London. I understand that this could lead to career growth but honestly, you should never take a position that is going to make you worse off financially. My husband and I moved to London from NYC and he got a significant pay raise. London is expensive. Much more expensive than NYC. That pay raise allowed us to maintain our modest lifestyle. You have to think about your lifestyle. Yes, moving to another country is exciting and an experience, but if you are going to be struggling financially and not able to maintain your lifestyle along with all the other adjustments you will have to make, you're going to end up hating it.
> 
> Here is website which will help you determine your take home pay:
> 
> ...


Hello Nyclon,

Thank you for your thoughtful response. You are absolutely right in that I need to really think things through prior to making a change like this and taking a pay cut. Just to give you some background, I make a very good living in NYC and do not live a very extravagant lifestyle. I don't need a lot of expensive things/services but also do not want to have to pinch pennies. I also am very unhappy with my current job and have been here for 8 yrs so I know that staying here for much longer isn't really an option. 

The opportunity in London is exciting and intriguing and I do have some concerns/reservations about the financial aspect. I am trying to figure out how much in rent I could afford and am having some difficulty trying to get that number with all these different taxes/fees I have to include. So any advice on that information would be really helpful. 

Thanks.


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## nyclon (Apr 3, 2011)

I'm know, cyimski that it's a hard decision to make, but I'm happy to hear that you seem to be giving things careful consideration. I completely understand wanting to get our from under a sucky job situation. The link to the pay calculator is going to give you a very accurate indication of what your monthly income will be. Council tax is going to be a big variable. Other than that our monthly expenses are:

Water (even in a rental you will pay for water)
Electric
Phone and Internet
Cable
Mobile phones
TV licence (about £12/month)
Oyster cards (like the Metro Card)
Food
Contents insurance (optional)

You will also likely have to pay for gas for heating and possibly cooking. Ours is included in a service charge.

Something else to think about. Flats can be on the small side. So, if you are thinking you might want to downsize to stretch your budget, be prepared for a 10'x10' bedroom and no closets so you have to find someplace in your bedroom for a bed, dresser and wardrobe to hang your clothes.

Most flats will have a washer/dryer (yes it is does both) or just a washer. Sometimes the dryer function can be less the optimal and of course it eats up electricity. So, you may want to air dry your clothes which means setting up drying racks all over your already tiny flat. I have a washer/dryer which actually works and because it is so small, I am constantly doing laundry and I do use the dryer. I have no interest is trying to dodge drying racks and I hate crunchy clothes.

Are you used to the convenience of living in a doorman building? If you are, they are few and far between here so you could run in to problems having things delivered if you aren't home.

Those are just some random thoughts. If you have some specific questions, let me know.


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## DavidO (May 3, 2010)

I'm siding with the positive comments. It's hard to compare cost of living because it depends so much on your lifestyle but I agree that London is not necessarily more expensive, especially if you're willing to commute. Even a half-hour train journey can bring you to more affordable areas.

If you can't be comfortable on 55 grand there's something wrong. And what about your partner? Is she planning to work also? Does she have good prospects? If so, then you can figure in a second salary at some point.

From the sound of it you're still young and this could be a positive career move. Lots of people can get stuck on a rigid cost/earnings basis and lose sight of many other important things that make life exciting. London, like New York, is a world-class city for which many people would give a kidney for the opportunity to live in.


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## cyimski (Apr 2, 2011)

DavidO said:


> I'm siding with the positive comments. It's hard to compare cost of living because it depends so much on your lifestyle but I agree that London is not necessarily more expensive, especially if you're willing to commute. Even a half-hour train journey can bring you to more affordable areas.
> 
> If you can't be comfortable on 55 grand there's something wrong. And what about your partner? Is she planning to work also? Does she have good prospects? If so, then you can figure in a second salary at some point.
> 
> From the sound of it you're still young and this could be a positive career move. Lots of people can get stuck on a rigid cost/earnings basis and lose sight of many other important things that make life exciting. London, like New York, is a world-class city for which many people would give a kidney for the opportunity to live in.


Thanks for the reply. Just to clarify, I'm not *that* young (in my mid 30's) but I don't have children and am pretty open to new experiences.  I agree that it is a lifestyle decision and to be honest, I don't live a particularly extravagant lifestyle. My partner does not have a job lined up since this wasn't something either of us had really planned on. He will look for one when we get there but until that point (whenever that may be), I will be the sole breadwinner. Which is why I'm apprehensive about whether or not 55k would be sufficient for 2 people. 

Anyway, it's great to hear all the responses and definitely gives me some great perspective.


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## JimJams (Jan 11, 2010)

So sole breadwinner until he finds a job, for maybe 6 months say... but is defo going to be looking for work. I assume he will not have issues with work visa etc, I don't know the ins and outs of UK visas unfortunately... What job does he do, and do you know if there is much demand for it here in London?


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## GillianF (Mar 7, 2010)

Hello cyimski,

Just to quickly go back to basics on this one:
* Is the 55k GBP set in stone or is there room for negotiation? Even if the salary figure is fixed, is it possible to negotiate on other areas which would be worth money to you but not necessarily cost your employer as much, e.g., stock options, performance based bonuses, gym club membership, travel allowances (season ticket payment or loan, covering the congestion charge, company car), private health benefits, relocation package, extra vacation allowance, finance/tax advice etc. Many of these areas can be taxable in the UK, but they can also add quite a bit to your base salary. 
* Are you moving to a different company or is it a branch/subsidiary of your current one? If you are staying with the same employer could you negotiate to have your salary made whole again when you move back to the US. 

One other consideration – your vacation allowance. I’ve done the move you are considering the other way round, moving from the UK – US and I was dismayed by what passed for a US vacation allowance. I went from 28 days vacation + sick time in the UK to 13 days PTO in the US. I love to travel and this was a huge constraint as far as I was concerned. The default vacation allowances in Europe are so much higher than in the US and if you calculate how much you get paid per day, then add up the cost of all the extra vacation days you get it will probably add to that 55k.

Also consider how much more valuable you will be as an employee long term with international experience.

Good luck
Gillian


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## alanzani1974 (May 7, 2011)

*tough to decide*

I say take the money, its hard out there at the mo


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