Relocating to London? Anyone from?
I apologize if this the wrong section, it is my career so it seems appropriate.
I was given the opportunity to relocate to London for work. I will still be travelling mon-wed/thurs doing the same thing but covering Europe/Asia. I'm leaning towards doing it.
What should I know about London? coming from America, where should I live? I'm a 26 single male, I'll be earning 70k in euros, I am pretty much ignorant of all things UK and London based, would anyone be able to link me to a site or a blog of someone who went across the pond too? I dont know where to begin apartment hunting, but was assuming I could airbnb it for a few weeks before I found something more long term.
Thank you in advance!
Where will your office be? That can make a big difference in where you want to live. I lived there for a few years. Loved it. At that income you'll probably want roommates (flatmates over there) though.
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Silly me. You are single!!!!
Omg I'm single, hot, female, young and I'll come to London for you after I graduate!! Wait for me, please! K thanks. Bye
If you really were hot, you wouldn't be trolling WSO for a sugar daddy.
Also, have some self respect.
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It'll be very tough to survive on £55k while living in central London, assuming you have no bonus. Expect to save nothing. If you want to start a family you'll need at least £150k-200k, and that's on the low end.
Talking about survival on 55k is a bit extreme, no? FD: Have lived both North (E1) & South (SW1) of the river, as well as in a commuter town.
Highest cost will be rent, which will be determined by office location and preferred length of commute. I am guessing you will be working for a euro consultancy (e.g. RB) as you gave your salary in euros....
Also: 55k pre tax = 39 post --> 3,250/ month. Depends how you want to live your Thurs-Sundays what you go for. If your looking for a room in a shared house/ flat spareroom.co.uk is good, or for full rental rightmove.co.uk will give you ballparks. FYI spareroom have nice function where if you type in the closest tube station to your office it will calculate properties within x commuting time of said stop.
In terms of areas, let us know the office location and desired commute time to office/ airport and can try to inform from there.
Being a single 26 y/o in London with decentish salary = good times, but I will concede saving is pretty much out.
Depends on your standards. 55k is about 15-20k less than a first year analyst makes all in, and it's pretty hard to get by on that kind of money in central London. When you're 26 you kinda want to start saving up for the future, which will be nearly impossible. You're better off staying in the US, unless you expect your salary to increase dramatically in the near future.
nice inside info about living cost in London. Thanks WSO
As Dingdong08 mentioned, even though you'll be travelling for work your office should play an important part in your decision on where to live. If you're working in the city (around Liverpool Street/Bank) try to find somewhere on the district/circle/central line. I've found that Whitechapel is a pretty nice compromise between accessibility/affordability and it's an area set to receive a fair bit of investment over the next couple of years. You can get the Hammersmith and City line two stops to Liverpool Street or the District line three stops to Monument/Bank. Also pretty good for going out as it's near newer areas like Shoreditch but also not too far from the West End. If you're working in Canary Wharf or Green Park I'd say stick to the Jubilee line. Over the past decade London's Southbank has completely changed and is now a very nice place to live. Southwark may be a bit pricey but areas like Bermondsey/Canada Water have seen a lot of new developments. I go through Canada Water tube station every now and again and there are pretty nice high rises right next to the station which is great for accessibility (Canada Water is also a hub for London Buses as well which is useful) and some flats may have nice views which look onto the Wharf (although again these may be a bit pricey). Canada Water is one stop from Canary Wharf, Bermondsey two. If immediately next to the station is too expensive, look into the surrounding area of Rotherhithe. As I mentioned, Canada Water is a hub for buses so most of the area is linked to the tube station. A couple of things on the tubes in London; it is without a doubt the fastest way to travel however they shut at 12ish which may be different from what you're used to. There are plans to extend the opening hours over the weekend but not certain when those are coming into effect. Also, the tube map can be quite misleading. The distances between stations on the map are not particularly proportional to the actual distances. Of course there will be other factors influencing your decision on where to live, I just think tube access is a pretty important one. Good luck!
Anyone who came to London from abroad on a work Visa to start full-time at a BB - have you been provided some corporate housing at least in the first month of being in the UK? The rumor is it's not as easy to get a bank account and to rent a place right away upon arrival - paperwork etc.
It's very difficult to get housing, a bank account, a mobile phone and anything along those lines because you'll have no UK credit. Negotiate something with your firm. If you're working for a financial firm with a retail banking presence of any sort, make sure they'll hook you up. If they're not a bank, make sure the company has some sort of program to get you a bank account. It's been a while since I had to do it but there was some weird hook where you had to have paid a utility bill with a bank account to get a bank account but you had to have a domestic bank account to pay a utility bill. I loved living in the UK but get used to weird things like that. Work something out with housing because you'll have no credit and won't be able to sign a lease if you're trying to get your own place (it may be different if you're using a roommate service and don't have to go on the least) but the estate agent will inform you that you can pay the entire year's rent up front.
You'll love it.
@"Lucky Charms" you have got to stop
edit: @"GoodBread" @"GBB_19NHS" @"Martinghoul" aren't you in London?
I'm actually in Paris.
I have quite a few buddies working in London and as many have mentioned, where you work plays a big role. Many of my banker buddies live in Bermondsey and Limehouse.
If you're in the West End/Victoria, it might be worth it to stretch your budget to find a place in in Westminster (the area east of Belgravia and Pimlico). The cheapest studios there would be around 250pw and flastshares a bit less.
Paris eh? I'd be curious to see a thread from you on the state of France's economy & how different it is (if at all) investing in France versus US/UK. it's something I've only studied from afar through reading and econ classes from school, so it goes without saying that I need more education. didn't want to hijack the thread but it'd be interesting to see your perspective. in the US we hear tales of frenchmen being lazy (30 hour work weeks, 2 months vacation, sleeping on the job) and how companies flee the country because of taxes & regulation, but I get the feeling we're getting a one sided report.
sorry to hijack the thread OP
I am, indeed...
they love their f$%^ing pigeons.
yep, London in the house.
Airbnb is fine for a while, London rental market is highly liquid and dynamic, you can find a good place in like a week and move in right away. Where is your office located at, living depends highly on that, people dont like to commute long over here (but I agree you can find something for 250 per week in most areas if shared)
Getting all the stuff like phone etc. should work if you have a buddy where you can just use that address though not having a proof of address can be painful but most Americans I know that came here had no issues really.
Let us know if you have any specific questions - otherwise you will figure it all out when over here, its a great city and much more laid back than NYC so most people def feel like their lifestyle improved when coming over.
Long term Londoner here. Let us know where your office is and I can suggest some places.
Hi guys I am an Aussie chartered accountant moving to London soon on work Visa. I actually met an English partner the reason for moving as well. How hard is it to get a bank accountant? I can't just rock up and use my partners address? Some agent tried to charge me $50 for in number which I figure no faster if I get it myself once in the uk. They charge $35 for opening a uk bank account. If they can do it, I should be able to do... Also where is a safe affordable not so far from the central part to live - I've stayed near Hyde park which was very nice but am guessing. Rey expensive. Further why is everyone saying the east is dodgy?
As others have said above Matt, choosing where to live in London will depend almost entirely on where your will be based. There's nothing wrong with "East London" generally, as it's far more important to choose the right development/close to tube stop etc. Choosing East London can also save you quite a lot of money rather than living in Central.
If you'll be working in the City though (Bank/Liverpool streets etc) then it might be worth living in a nice area of South London and getting the train directly into Liverpool street train station. That would also save you quite a lot of money.
Thanks TSR, have lined up 5 headhunters to meet as soon as I arrive. Will check out East London although I have a penchant for near Hyde Park..( as everyone else).
Even thinking about doinf an MBA at London Business School but if I can break into banking at Canary Wharf as ACA( Barclays etc), might not need to MBA? Not sure yet...
The other question is, is it better to buy a house or still worth doing MBA after ACA. MBA seems to be a waste if you have enough qualifications and are already in banking - make my way through experience and contacts?? Sorry to diverge from topic
If an MBA could he a potential thing on your to-do list, hold up on the house for now. The property market in London is shit hot at the moment that even bankers are being priced out.
If you can break into banking as an ACA, do it with everything you've got. It's certainly possible and Europe is a little more relaxed about when it comes to structured recruiting vs the US. If it doesn't work out, an MBA will work but you ideally don't want to have a mortgage commitment with no cash flow for two years unless your partner can keep you afloat.
Thanks Rumplesmoothspin, that was very helpful insight!
I have actually been offered an MBA in Seoul as well (I am originally Korean) with scholarship but deferred it until I permanently want to return to Seoul, to raise kids, give them cultural spice (not sure though if Asian MBA is the passage for London or NY for that matter). LBS is 67k pounds so quite expensive - in fact I don't understand why an ACA would do an MBA if they are just going through all corp finance and valuation content already gone through in ACA.. unless it exposes you to some leadership training/substantive network/guaranteed foot in the door which you otherwise would not have been exposed to - which again can happen in the course of normal banking career
in the meantime I will try to get something worked out in London- It's been a hell loads of studying as it is for ACA!! And hopefully I can get some postings off to New York while I am there (never stop dreaming haha). BTW, I have noticed Elliot Investments or many such boutique firms have both London and NY offices.
Yes, the house commitment - My partner is actually quite determined to buy an investment property in the UK - even if it's not in central London (given its density and rental income attractiveness i.e. rental income - mortgage - agent fee = positive), so I am hoping that my partner saves and makes enough to achieve his own dream - so that I can kinda carry on planning my own things, until then pauper life style and save if possible.. a studio across the Thames River on the south side was $2million...-_-;; Will look at Shoreditch or some where like that...
Thanks for all your helpful advice guys, life cross-road decisions and decisions.
By the way, National Insurance Number can only be applied upon arrival, and do it by phone as a job centre is apparently quite a depressing place with unemployed line ups- even agents can't apply in advance online for you at $50. So don't fall for it! And you can work for 6 weeks without it as long as you applied for it except will get taxed at the highest rate, without NIN.
Living in London - where ? (Originally Posted: 07/19/2010)
What are good areas to live for a first yr analyst looking for affordable yet not crappy accommodation in London ? Will need a place to stay as of beginning of August and my job is in the city. Anyone starting in August looking for a place as well ?
I will be looking for a place in London in end Aug - beg Sept. My masters program will start on 13 Sept. It's Bunhill Row, not far from the City.
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