In what ways is London different from New York City? Interested in spending 3 months doing a rotational program in the LDN office but wondering what potential differences are there
Anyone familiar with both cities??
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A rotational is a no-risk way of getting to know a place, absolutely recommend it (I have done it ).
I like NYC more than London, but I found it to be more expensive and busy. A city that never sleeps. Very interesting areas to explore, different culture, more of an immigration country / city. The mindset is different also.
The British culture is an interesting one - it's in Europe, but not (fully) European. They have their unique elements when it comes to culture, cuisine, dialects, accents, habits, .. it's a different way of working, often very indirect.
Based on the most helpful WSO content, here are some differences between London and New York City that might influence your decision for a rotational program:
Work-Life Balance: London is known for a better work-life balance compared to NYC. This is reflected in the culture where analysts in London are more likely to pursue a long-term career in banking, while in NYC, the trend is to move on after a few years, often due to the demanding work-life balance.
Culture: The work culture in NYC is often described as more diverse and accepting of various backgrounds, whereas London's finance scene can sometimes be less diverse, with a higher concentration of British, Italian, French, and German Caucasian males.
Weather: London offers more predictable weather with milder summers and winters, while NYC experiences more extreme temperatures, with hot summers and cold winters.
City Vibe: London is described as a beautiful city with a mix of weather, architecture, and an international demographic that makes it enjoyable even just to walk around and explore. NYC, while also vibrant, has a different energy and pace.
Compensation: NYC generally offers higher compensation compared to London, which can be a deal-breaker for some due to the high cost of living in both cities.
Exit Opportunities: NYC is known for more conventional exit opportunities in finance, such as the 2+2 path (two years in banking followed by two years in private equity), and has a larger deal flow. London offers more flexibility, with it being more common for professionals to exit to private equity later in their careers.
Travel: London's location allows for easier travel to various European countries, which can be a significant plus for someone looking to explore during their time off.
These are just a few aspects to consider, and personal preferences will play a big role in your decision. If you're someone who values a more balanced lifestyle and the opportunity to travel easily across Europe, London might be the right fit for you. However, if you're aiming for the highest possible earnings and thrive in a fast-paced, diverse environment, NYC could be more up your alley.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/london-vs-new-york-city?customgpt=1, London vs New York IB
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