Hi monkeys,
Inspired by the older thread, I decided to start a new one as rents have definitely shot up - let's try and follow this structure
- Living situation (flatshare/studio/1-bed)
- Location
- Rent
I'm an incoming AN1 myself and strongly prefer living alone in Zone 1, but looks like 1700-1800 is the bare min for something half decent
| +120 | New Article: Dramatic Slide as UBS #22 (US) & New Leadership Desperately Needed | 25 | 21m |
| +96 | Americas M&A League Table Q2 Updated | 47 | 1h |
| +72 | Wealthy Parents / Jaded | 24 | 19h |
| +56 | How are hours rn for SA (interns) | 31 | 7h |
| +49 | Venezuela Debt Restructuring - LAZ vs CVP | 22 | 1d |
| +47 | A COMPLETE GUIDE TO SUMMER INTERNSHIP RECRUITING | 11 | 14h |
| +38 | Boutique firm wants access to my LinkedIn? | 34 | 12h |
| +31 | Investment Banking in Mexico | 9 | 16h |
| +26 | MM bottom bucket bonus | 9 | 4d |
| +25 | UBS GIG, LevFin, FSG Interns working Sundays and 85 hour weeks their first week? | 14 | 19h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I am not in London anymore but it is absolutely cooked ... This is just where distorted view of finance hits reality. Always thought that if you would work in IB/PE in LDN after a few years you would afford somewhat of a baller lifestyle, that is a NICE flat within proximity of the city centre.
Reality at my fund (UMM) is that almost everybody I know commutes like 45-50min per day to the LDN Office. All former IB people. Seniors live much further outside.
Wow... but depends on priorities I guess, if you're childfree and don't spend excessively elsewhere surely paying for a nice flat in zone 1 isn't an issue
When you were back in IB was it normal for AN/A in IB to commute 30-50min or is that a PE thing
You can find a decent 1 bedroom for 2000 in Zone 1-2. At least I just found one.
How much do you guys make? Crazy you can’t afford city center
Hate to break it to you but 1700 - 1800 can't even get you a studio in zone 1 and only get you a room for yourself in a shared flat. Might consider raising your budget to £2.5k at least for a proper studio (or £3k including bills) or living further out but even in zone 2/3, anything you find in this range will be ultra competitive and you might end up being outbid so highly suggest splitting rent with someone. It's ridiculous that london rent has already approached NYC level prices but not the salary
Would like to echo this. Currently in NYC right now and planning to move back to London soon but the rental market is in absolute shamble. I used to rent a nice 1br flat in Aldgate East for £1.6k back in 2021, now it's whopping £3.5k and I know this cuz I know someone who's living in that exact same flat. This is of course exclusive of utilities and outrageous council tax bill on top of that (Tower Hamlet borough is a thief)
You most likely had a COVID discount. Post-Covid rents got dramatically reset in higher end places because the rich Chinese flooded back in. Some people I know were getting 50% rent increases around that time while I, in a lower end place, was getting 5-10%.
Looks like I'm screwed then haha. Don't mind renting a 2 bed 2 bath with a flatmate, but have had horrendous experiences before living in flatshares (though admittedly I didn't screen my flatmates 2/3 times)...
1700 - 1800/month per person for 2 bed 2 bath is still way too low for zone 1. Plausible if it's 1 bath but for 2 bath then should be £4k - 4.5k/month altogether at least.
But honestly you can definitely live in zone 2/3 or further out cuz £3500 can get you a really nice and modern 2br2bath apartment in Canning Town or Stratford. I swear mental health matters a lot especially if you're already pulling 80-100hrs work week so it's better for a nice apartment. £3.5k in zone 1 would be very old, mouldy and tiny af.
Recently moved to London with my Gf. We pay £1,900 for a 1br in N7. It‘s in Zone 2 but I really like the flat and the area and it takes me 20-25min to commute to work in the City (which is fine imo)
Incoming An1 and will be living with my gf. We just found a nice 53 sqm/ 570 sq ft 1 bd flat, 1 minute from marble arch, paying each ~£1.2k pcm each.
At first thought it was quite expensive since i’m not from the UK, is it a reasonable price?
We both have a ~20 minute walk / ~10 minutes bus to work
This is considered cheap and way below the market price for a 1br in zone 1 lol especially the neighbourhood. You've found a really great deal. I know folks living in the exact same neighbourhoods (Mayfair, Marylebone) that paid £3.5k - 4k for a shoebox
That's solid mate, nice. Looks like I need to get a GF hahaha
Zone 1 flatshare. £1.5k pppm. Big apartment, I think ~1300-1500sqft. 20 min commute
Previous to this was around £1k pppm flatshare Zone 2. 25 min commute.
Would flag that the rent is only one part of the picture of costs. My overall costs have probably nearly doubled by moving to Zone 1 (not the best financial decision). Council tax is higher because my apartment is "worth more". Bills are higher (not sure 100% sure why). Commuting now costs me more despite being a shorter commute lol. My nearby shops are also generally more expensive.
Lol interesting, I actually used to live outside Zone 1 in the past but was a dodgy area and took forever to get anywhere, decided I'd rather save less/flatshare than live outside Zone 1 again haha
Zone 2 is fine. Even in Zone 1 you need to be picky about where you live. Not everywhere has good connectivity.
Are you living with randos
Nope. Have never lived with randos. But honestly haven't heard the worst things from people who have. Just need to be selective (if you can afford to).
Olympia 1 bed £1998pcm
How much do you save each month? Assuming A1 take-home pay is around £3,800–£4,500 per month for most of us and that a lot of you pay £1,500–£2,000 on rent alone, how much are you able to save/invest every month?
I'd be able to live off my net base and bank c. 70% of my expected net bonus based on comp reports for the last 2y, and this includes socialising, holidays, etc
So you can‘t save anything from your monthly income?
How tf do people survive commuting an hourish each day on top of working so much?
Cuz rent is too expensive if you live within proximity to the office especially those having offices located in the City. No one wants to spend half to entire paycheck just on rent lol
If anyone’s interested in looking for an East London (Canning Town/Stratford) flat share around August, let me know.
Incoming As1 from another country. Am I crazy in budgeting 1.1k-ish for a distanced zone flat share?
Will work in CW and have other financial obligations in home country
Very tough to find anything in Z1 for that price, would look at North Greenwich/Stratford. Potentially Bermondsey as well
Yes I expect that it would not be zone 1 and my commute can be like an hour until I get my first bonus
Brother you can find loads 1-1.2k pcm in the ~40min commute range
Incoming analyst, just rented a 2 bed appartement for total of 2300 excl. bills in zone 1, about 500 sqft. On walking distance to office
You get your own bathroom?
Noo, do think it is an ok deal as it is close to office
Heading into a FT M&A role with a 55k base and target 25% bonus at a smaller shop, idk how I can justify (post tax) anything more than 1.25k/month for my share in a flatshare... doesn't look good bruv
Chat is 35-40 min commute okay or am I cooked. In a few processes for those distances rn for like 1.1-2k pcm. Only 1 other flatmate
What area r u looking at rn. I'm starting FT in mid august and looking to get something at the same price point with ideally 1-2 roomates
Areas in West London. Although I'm mayfair so would be longer to CW etc
crazy that you work so hard to have such a good job relative to the rest of the country and you're still not left with that much at the end of the month
feels like a few years ago it was so much easier relatively to find your feet in london because the rental market wasnt as hot as it is now
at the same time though, it always feels like a woe is me statement lol
Incoming An1 moving in with another An1 and buddy studying a Master’s at Imperial. Have found a few flats in SE1 near Waterloo for 1k pcm
Wow fr? Sounds too good to be true
Incoming A1, any tips on how to find others to 'buddy up' with? Any websites?
A process fell thru recently and no one else in my current circle is heading to London for IB. Feel free to connect if you're in the same boat!
OP here - what's your anticipated move-in date? Might be a fit, else you can try SpareRoom
hey, start in September but prepared to pay from July onwards if it means securing somewhere. Keen to hear your thoughts.
Hey, I am also going to start end of august please feel free to pm me if you are looking for someone
Hi, I am in a similar situation and will start in late august.
Spareroom is super easy tbh. Everyone online says its difficult to find places but being a banker makes it way easier e.g. shows discipline and obvs clears landlord income thresholds. I've basically been accepted for all the flats I've viewed so far.
Officia et ad laborum et laudantium. Officiis facere nesciunt occaecati non quas et officia cupiditate. Minima et eveniet ratione quidem iure. Eos et voluptas quos amet numquam. Qui cum consequatur eum omnis enim.
Modi nisi voluptatibus voluptatem est aut ratione. Facilis sit amet molestias velit voluptatibus quibusdam.
Quam ab veritatis ut nam voluptatibus est cum. Deserunt voluptatum numquam nihil. Nulla voluptatem perspiciatis aut voluptas.
Error voluptatem accusamus minus quia error sed. Voluptatibus corrupti iure autem voluptatem mollitia labore vel excepturi. Non ratione est in fugit dicta repudiandae dignissimos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptate quia perspiciatis officia qui tempora. Vitae id nobis adipisci in alias magnam. Amet dignissimos et et molestiae vel animi.
Occaecati nobis repellat non aliquam qui. Asperiores suscipit qui placeat. Aut dignissimos quis minus sed voluptas vel. Et unde ut qui et dignissimos maiores consectetur eveniet.
Fugiat voluptates nihil delectus beatae sapiente qui. Dicta voluptas aut voluptatibus et assumenda cumque. A blanditiis rerum quas sint omnis vel commodi. Ut voluptates veniam ea non. Sint qui sed maxime voluptate unde aut odit.
Qui et molestias dolores ullam. Ipsum beatae dolores esse dolorem numquam voluptas. Hic nesciunt eos laborum. Fugit autem quod molestiae distinctio saepe voluptate.
Pariatur rem sint est ut id sunt. Vel rerum officiis eum rerum qui. Eligendi reiciendis et sequi eum vel.