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Wall Street Oasis » Blogs » SenhorFinance's blog
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City Smackdown – Part 2: Across the River Thames
 

SenhorFinance's picture
SenhorFinance
      HF
 
 
(Orangutan, 346
 
Points)
 on 8/26/12 at 4:30pm
London Big Ben

So one day it was time to move. For some very weird reasons, a chair was waiting for my butt in London. I don’t know how those things work, but the whole relocation process was taken care of real fast. Suddenly I was in the waiting room of some crazy Visa expediting service in Lexington Ave, then boom, a work Visa appeared in one of my passport pages. A few hundred drinks later, I endured a severely hungover mission in a cab to JFK, and ultimately landed in Heathrow in late June.

It was my second move in less than two years, and I was yet again to jump into the overworked chimp shoes, taking a lot of crap in order to enhance the profits of some soul-sucking financial institution at the Queen’s town. Awesome! So how was it? What’s London like?

The first weeks were sort of tough. I left New York and its awesome summer weather (and summer miniskirts) and went on to live in a gray city, with an architecture that is somewhat intimidating. It was summer but it didn’t really matter. If you were wondering, looking for an apartment in London is a pain in the butt, maybe at par with New York. The bank will try to help you but they will always end up recommending extremely cost-inefficient places. At least the hours are not as brutal and you do have more time to look for a place.

Getting used to London was a slow but steady process. The city is not as friendly as New York, and there are a lot of things to learn in order to fully enjoy it. And take this with you: any serious adaptation attempt to a new town involves some prioritization, and quality of life should be on the top or near the top.

What I mean here is: don’t be a cheap bastard and spend a little extra to live near work, preferably in a cool place. Living in a sub-optimal place and investing rent savings at a ridiculously low rates when you’re barely making six digits is moronic. You’re not processing accounts payable for some shitty corporation, 9-5. You chose to donate your soul to the devil, in exchange for the possibility of forgetting about money altogether in a few years.

The reason why I didn’t stay in London long-term has to do with the economy and bad professional perspectives but I wish my relationship with the city lasted a little longer. By the time I was moving out, I realized there are so many cool things about it , so let’s go for a Top 5. And for the sake of discussion, let’s go for 3 of its not so cool things.

London Top 5
(1) Friday Beers: you do not miss this. Everyone goes, and it’s no face time to please your boss. People do get quite hammered, that includes your boss, the summer intern and the hot Scandinavian associate who just broke up with her boyfriend
(2) My hours: S&T average was 7a-6p (summer), 7a-8p (other seasons). Sublime.
(3) Geographic location: well, you’re a short flight away from a ton of cool places. Summer is especially awesome. This weekend in Mallorca, the next one in Villefranche-Sur-Mer, the other one in Sardinia…
(4) Diversity: I remember reading somewhere that London is the place with the largest number of spoken languages in the world. In addition to that, the cultural diversity of the streets is replicated inside the banks, unlike New York.
(5) People: London people are much friendlier than those of New York (duh), but also than those of many other financial centers I lived in or visited.

Worst 3 things about London
(1) Services: well, maybe anchoring expectations at the New York level is a bad idea, but the fact is that you won’t find as many affordable/good service providers. From the shoeshine guy to delis to cable TV. OK, maybe not cable TV.
(2) Weather: this may not matter a lot to many people, but the city where I was born and lived until college was Rio de Janeiro, Brazil. Enough said.
(3) Food: you can get angry with me, as much as you want, I don’t give a shit. British. Food. Sucks.

See you in São Paulo next week.

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Tags:
  • London city comparison New York

Comments

shorttheworld's picture

cant wait for sao paulo so i

shorttheworld
      EN
 
 
(Senior Neanderthal, 4,312
 
Points)
 on 8/25/12 at 11:55pm

cant wait for sao paulo so i can know if im going to get shanked or not.

I need a crib, a big estate, I need a boat and that need a lake, I need some salmon that need a plate, that need a chef so I feed my safe

From trading equities to slanging wine in Latin America

A ship is safe in harbor, but that is not what a ship i

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G.M.Trevelyan's picture

Someone is clearly a player

G.M.Trevelyan
     
 
(Orangutan, 351
 
Points)
 on 8/26/12 at 4:02am

Someone is clearly a player and not a gentleman. Nothing wrong with that.

I hope you weren't surprised by the amount drinking done by everyone in London?

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fifteen's picture

I'm with you on food in

fifteen
      O
 
(Senior Monkey, 97
 
Points)
 on 8/26/12 at 6:14am

I'm with you on food in London. Domino was one of the best options when I was in London, enough said.

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monyet's picture

Honestly, not sure where you

monyet
      O
 
(Senior Orangutan, 496
 
Points)
 on 8/26/12 at 7:03am

Honestly, not sure where you guys are going in London, but I think the food kills most things in the US. Only thing America does better (mainly because it's hard to find in London), is Mexican food - only thing I missed / one of the reasons I'd love Texas. Steaks and upscale burger joints would probably be better in the states as well.

Maybe you're just sticking to English / Western food ?? You've got your Malay restaurants in Bayswater (in my opinion Malay food is the best in the world, a gazzilion great indian places all over east and south London (Tooting comes to mind), amaaazing turkish food in east & south London as well as well as on Edgware road. Explore a bit. Polish meats (also mainly east London) is pretty good as well. Plus, food in east london is pretty cheap so that's always good. For me the food is one of the major draws of London, I think New York food is pretty poor / not as authentic in comparison. Personally I preferred Indian in food in London than in India, Malay food was not as great as Malaysia, but then again nothing is - it comes close though. Turkish / Arab food in London was better than Turkish / Arab food in the Middle East for me as well.

If you want specific restaurant recommendations (for everyday food, not like expensive stuff) PM me and I'll hit you up.

I don't actually eat much English food in england, normally just for breakfast and Shepard's pie, but all the international stuff is top notch and mostly pretty damn authentic.

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Disincentivy's picture

moneyt, I believe the

Disincentivy
      VC
 
 
(Gorilla, 713
 
Points)
 on 8/26/12 at 11:42am

moneyt, I believe the complaining is not about the availability of different cuisines, it is simply the quality.

I lived in London for 7 months and I hated it more than I hated Zurich. And this says a lot.
The only thing I liked London for, was my proximity to Manchester. It's a city that caught my heart and set it on fire.

I may not be on the Jedi Council, but I sure am great with the Force.

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monyet's picture

But what foods are better in

monyet
      O
 
(Senior Orangutan, 496
 
Points)
 on 8/26/12 at 12:01pm

But what foods are better in NYC than in London ? What type of foods did you have in London / where in London did you go ? I am really curious about this because I hear Americans say this all the time, but I really have no idea where they get this from.

Indian - hands down london (I worship at the alter of Indian food - so this is essential for me, but that's personal taste)

turkish - close, but edge to london. way more available in london too.

Malay- hands down London - dosen't taste anywhere near as authentic in NYC. I felt cheated.

Chinese - Meh, NY, but im not as crazy about this (personal preference)

African - Def London (some of it is actually really good, don't judge until you've had it).

Arab - Def London, but New York is not bad, there are arab stalls everywhere, just not as great quality, though a few hole-in-the-wall places in NYC are just as good. For actual proper restaurants, London.

Italian - okay, NY

Other Western - NY

(But bear in mind, that France is right next door if you want to get your culinary fix on the weekends (and don't work in banking and thus have weekends, you can go to italy on longer breaks and fly over on ryan air and have stuff that kills anything in NY, or have authentic Portuguese of spanish food just as easily.)

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serjik91's picture

Thanks for the post. Actually

serjik91
     
 
(Monkey, 38
 
Points)
 on 8/26/12 at 12:11pm

Thanks for the post. Actually other articles that I have read also say that London is not as brutal as New York in terms of working hours.

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GoodBread's picture

Hmm, it sounds like London

GoodBread
      AM
 
 
(Neanderthal, 3,602
 
Points)
 on 8/26/12 at 1:24pm

Hmm, it sounds like London just has more of the food you're into but it does get bonus points for proximity to Paris.

The whole "the hours are lesser in London" thing is a little overblown. A top M&A or industrials group in London will be pulling 100+ hour weeks just the same. It really depends on what your actual job is.

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Unforseen's picture

You work at a hedge fund in

Unforseen
     
 
 
(King Kong, 1,099
 
Points)
 on 8/26/12 at 2:00pm

You work at a hedge fund in Rio now? I'm jealous.

Check out my Blog

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kimbo's picture

How hard is it to get a job

kimbo
      ST
 
 
(Senior Baboon, 223
 
Points)
 on 8/26/12 at 6:45pm

How hard is it to get a job in London as an American? Is the best route to attend school there and stay or have your firm transfer you to the London office (if possible)?

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honeyoak87's picture

monyet: Chinese - Meh, NY,

honeyoak87
     
 
(Senior Monkey, 80
 
Points)
 on 8/26/12 at 7:22pm
monyet:

Chinese - Meh, NY, but im not as crazy about this (personal preference)

As someone who loves the food scene in NY, with the notable exception of flushing (and even here it is often inconsistent) you cannot get decent Chinese food to save your life. What is universally available is American-Chinese that is heavy on the sauce, batter and sugar. Toronto and Vancouver are the only cities in North America where you con get something that approximates the awesomeness that is food in china. I don't know how it is in London but don't dismiss a cuisine based on an overcooked, greasy rendition of the real thing.

Morpheus: Have you ever had a dream, Neo, that you were so sure was real? What if you were unable to wake from that dream? How would you know the difference between the dream world and the real world?

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monyet's picture

honeyoak87: monyet: Chinese

monyet
      O
 
(Senior Orangutan, 496
 
Points)
 on 8/27/12 at 10:56am
honeyoak87:
monyet:

Chinese - Meh, NY, but im not as crazy about this (personal preference)

As someone who loves the food scene in NY, with the notable exception of flushing (and even here it is often inconsistent) you cannot get decent Chinese food to save your life. What is universally available is American-Chinese that is heavy on the sauce, batter and sugar. Toronto and Vancouver are the only cities in North America where you con get something that approximates the awesomeness that is food in china. I don't know how it is in London but don't dismiss a cuisine based on an overcooked, greasy rendition of the real thing.

Oh i dont, i was just all over china and loved the food, but it's the type of thing i'd eat every once in a while with friends, but my post was in the context of general everyday cheap food; for those purposes, i personally prefer indian as a staple - as i said its just personal preference. Your description of chinese food in nyc is how i feel about a lot of international nyc foods - london stays closer to the original.

I'm not saying that London is better, it's just that I don't get why Americans say London food is shit,I just think that's totally wrong.

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happypantsmcgee's picture

kimbo: How hard is it to get

happypantsmcgee
      O
 
 
(Almost Human, 9,621
 
Points)
 on 8/27/12 at 11:10am
kimbo:

How hard is it to get a job in London as an American? Is the best route to attend school there and stay or have your firm transfer you to the London office (if possible)?

In my experience, work somewhere for a year and then find a reason you want to go to London. Its much easier to get them to sponsor after you've proven your worth. You can also spend that first year networking with people at your firm in the London office and increase your chances of getting there that way.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

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SenhorFinance's picture

monyet: I'm not saying that

SenhorFinance
      HF
 
 
(Orangutan, 346
 
Points)
 on 8/28/12 at 1:48pm
monyet:

I'm not saying that London is better, it's just that I don't get why Americans say London food is shit,I just think that's totally wrong.

Wait, wait. I was referring to British food, not to London food.

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Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

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  • I don't know why I find this funny: [quote]Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors. A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill...
    Apple Tax
  • I have an initial prototype of the product built (after some pivots) as well as an investor deck. I've also been hitting the pavement to try to develop relationships with institutions (my end consumers). I applied to an accelerator program last week and haven't heard back. I also...
    Advice on how to get angel/seed funding?
  • What's up guys, I will be transferring into Cornell AEM in the Fall. I wanted to ask if you have any advice pertaining to BB IBD recruitment. Thanks!...
    Advice for incoming transfer (AEM)?
  • Hello everyone, I am interning at an AM and I only use Bloomberg Terminal to get interest rate and some industry reports. Since everyone usually leaves at 5, I have a plenty of time to play around with BT in the evening. I will be graduating next summer so in coming fall, and will try to apply...
    Best use of Bloomberg for an intern?
  • So what do you guys think? Fees have been revived a little bit in the LTM, particularly with the huge deals in Q1'13. Are we going to see an increase from the weak bonuses of last...
    2013 Bonus Season
  • I have been job searching since late Jan/early Feb (I studied abroad fall term which hurt my search a lot). I am a finance and marketing major at a non-target, I have a decent GPA (major GPA is above 3.5), and have had two 6-month internships - one at a respected trading firm on their convertible...
    Still on the job hunt...need advice
  • I have an interview coming up for a position as a summer research analyst at an MM IB. I was wondering what kind of questions you guys think that a research analyst would expect? I.E. should I be memorizing every index I can think of or would it be more pertinent to brush up on my...
    Interview Help
  • FX in London at UBS or JP Morgan? Which does one choose, and...
    London FX desks
  • Guys, I've always struggled to find a decent belt that will hold up until WILL Leather Goods. But, my belt from them that lasted two years, still no bad creases, is starting to fade in color and they have no dress belts in stock. So, I come to you trying to find another brand. I've got...
    Good quality belts
  • Are there any tools online (or otherwise) that can help me understand how to be a better trader on the sell side? Basically, I deal with a fair amount of BitCoin on a market with a large Bid/Ask spread and for BTC/USD I'm usually on the Ask. I'm looking for help in situations where I have...
    Learn to be on the sell side?
  • This is the reaction any analyst who has ever worked in banking has when you say you want to leave banking for business school then come back as a post b school associate... <img src="http://epicpinterestfail.com/wp-content/uploads/2012/11/how-i-met-your-mother-barney-why.gif"...
    Why You Don't Leave Banking for B School Just to Come Right Back...
  • Any WSO peeps applying to this round? It's for college seniors. I suspect not many people are, since the applicant pool is small....
    MIT MFIN Round 3
  • I have been networking quite a bit for a potential internship next summer. I'm currently a sophomore interested in sales & trading at a semi-target - target. I've made several good connections. However, I've come into a few issues. If you've met someone in person or have...
    Networking Email Issue
  • Settle an argument for me. If you had to choose one, would it be better to come off as too cocky or too humble in a banking...
    Choosing between two extremes
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I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local...
Ask me anything… I'm a Private Equity Analyst in Shanghai
Inspired by comments from this: http://www.wallstreetoasis.com/forums/basic-guide-ramping-up-on-a-company-with-public-information-part-1-of-3 Lets just jump in. <strong>Technology:</strong> In this space there are really two metrics that matter the most, sales growth and EPS...
Beginners Guide to Valuation and Metrics By Sector
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7 Things I've Learned About Being A Manager
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,...
A Perfect Storm
Assuming that you have access to no financial products such as FactSet, Bloomberg, CapitalIQ, Thomson or otherwise, thought it would be helpful to give a step by step guide on how to ramp up on a new company from your home computer. Using FaceBook as an example. Lets go ahead and start with the...
Basic Guide Ramping Up On A Company With Public Information (Part 1 of 3)
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
Someone was asking me about this in PM and I wrote a long and detailed reply about what it is like to work in Big 4 and what advice I would give to people thinking about interning / working there. Thought it might be useful for others so my reply is below. Happy to answer any...
Working In Big 4 Audit in London
<em>Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap</em> There I go...
In Praise Of High Interest Rates
I work as a long/short equity analyst at a large hedge fund. I've been lucky enough to be more than just a model monkey early on in my career, but have also been exposed to the stress of being measured on returns. I primarily cover consumer and TMT names. I went the typical path (target...
I'm a Hedge Fund Analyst - Ask Me Anything
<em>Mode note: Blast from the past - "Best of Eddie" - this one is originally from December 2010.</em> Monty09 may have gotten the best plug yet for his <a href="http://energyrodeo.com/">Energy Rodeo</a> in Houston next month, and it came from none...
New York vs. Houston
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