London Salaries Lagging Behind

Question

Is it just me, or are London salaries significantly lower than NYC at the moment?

I know a few people getting sign ons of $25-$50k in NYC, compared to £5-£10k max in London. Similar difference for base and bonuses...

brotherbear · Accepted Answer

For experienced analysts and associates, it's not uncommon in the US to get a sign-on. For associates coming out of b-school, the sign-on is meant to offset at least some of the costs of the MBA, but also help with other expenses like moving costs, suits, etc.

And it's not just your perception, London doesn't pay as much as NY at the moment. It's not just on a currency-adjusted basis. It has been that way for a little while now.

PatrickBateman1 · Answer

From a compensation point of view, London is the worst city in Europe, IMO

CATBanker · Answer

As everyone mentioned above, the Sterling depreciation is the most apparent factor but I think its also mainly due to NYC salaries increasing at a higher rate (especially for juniors) whereas London salaries have remained fairly stagnant. The currency situation only makes it look worse.

On cost of living, I'd disagree London is that much cheaper than NYC. I have friends in NYC, who are yes paying exorbitant amounts on rent (but so are Londoners tbh), but everything else is about the same if not cheaper.

MWMW · Answer

Sorry
When did gbp trade at 2x of usd?

To op:
I think london has been lagging behind mainly due to the pay scale being adjusted way less than the us in last few years
Currency depreciation is bs if u look at base pay
It is still lower even u apply the pre brexit fx rate

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London Salaries Lagging Behind

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London Salaries Lagging Behind

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