Toronto To London Move
Hey everyone!
I'm getting ready to make a big move and I'm hoping you can share some of your wisdom with me. I'm currently in Toronto and will be starting a new job as an IB associate with one of the Canadian Big 5 banks over in London in the new year. I was a longtime lurker here when I first started in capital markets and this community was an absolute lifesaver, so I'd really appreciate any advice you have!
I'm looking for some pointers on potential areas to live. I'll probably be spending most nights at the office, so a short commute is key (think ~25 minutes walk) and the ability to meet new people would be great.
My budget for rent is around £1,800 to £2,100 a month (lower is always better, of course!) and being relatively close to work is my main priority. I tend to live a pretty frugal lifestyle, but any extra info on typical living costs (food, entertainment, bills, etc.) would also be super helpful.
I'd be grateful for any feedback from fellow Canadians who have made the move, or from anyone else who currently calls London home. Thanks in advance for all your help!
Based on the most helpful WSO content, here’s what you need to know about moving to London as an IB associate:
Where to Live
Proximity to Work: Since you’re prioritizing a short commute (~25 minutes walk), your best bets will depend on where your office is located. If you’re in Canary Wharf or The City, consider these areas:
Budget Fit: With a budget of £1,800–£2,100, you can find a decent one-bedroom apartment in Zone 1 or a larger flatshare in a prime area. For example:
Flatshare vs. Living Alone: Many professionals in London opt for flatshares to save on costs and enjoy better living spaces. Platforms like SpareRoom are great for finding flatmates.
Living Costs
Tips for Meeting People
Final Advice
Good luck with your move! London’s a fantastic city with plenty to offer, and you’ll find it’s a great place to grow both professionally and personally.
Sources: London Rent / Living Arrangements 2019, Where to live in London?, IB analysts Chicago rent, Q&A: London REPE MF Associate, The future of LA
You won’t get any helpful suggestions without specifying if you’ll be working in Canary Wharf or the City
All Canadian Big5 are in the City
Canadian big5 are all in the City
Think your best bet is to either try north into the Old Street/Clerkenwell area or to go south into London Bridge
Been a few years since I’ve been in the rental market but I think you should be able to find some (not many) 1 bed with your budget. May have to go further out east if you want your budget to stretch further, but luckily the commute should be pretty easy given the Elizabeth line
Old Street/Clerkenwell all starts from £2.3k (not including bills) now. London bridge also starts from £2.5k
Turns out I have no idea where the rental market is anymore / no idea how close a 25 min walk is to the city
Unfortunately your budget is too stretched to live alone in that area especially within walking distance, considering all Canadian big5 are based in the City. Rent starts from £2.5k and you have to factor in utilities (which is EXTORTIONATE in the UK) and council tax that you have to pay on top of the rent too, so all in should be at least £3k and I don't think many people would pay that much on banking salary.
I would therefore highly recommend you to either flat sharing, or live a bit further away from the city and commute via tube. Canary Wharf, Canning Town, Stratford all have good commute to the City and I think your budget get you something livable in these areas. Highbury & Islington is also very decent and there are many American/Canadians living there too, and it'd only take you 25-30mins via bus, or 20mins via tube. But bear in mind please do keep your budget flexible since you wouldn't get anything livable for your own for less than £2k (including bills + taxes) in the entire city.
I think your expectations are quite unusual. I’m an analyst, and looking at my friends/people I work with (including associates) everybody has flatmates, takes a 20-30 min tube to work, and pays a lot less than your budget.
unless you’re dead set on living alone, look further outside the city and get some roommates. You’ll save a lot of money, meet new people and can live in a nicer area
look at me im a canadian, aka americans but none of the things that make americans cool.
Grow up
Agree with most here.
Living alone is very expensive in London and few people do it.
If you want to do it, you're probably going to have to be in East London and definitely not walking distance to the City.
Go on Zoopla, use their "travel time search", to find out what sort of areas are available for different commutes (by foot, by public transport) within certain timeframes. That'll give you an idea of practical areas. Then you can see the prices in those areas.
Then once you know the areas, use Rightmove (it's basically Zoopla with more agents, so more choice, but no travel time search) to find more flats.
Flat hunting is London is very hard. Highly sought after flats are rented within 1-3 days of listing. It is very fast. You have to be viewing/expressing interest same day/day after listing. So you'll need alerts on, set to your areas of interest.
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