*URGENT* Relocating to London in a post-COVID, post-Brexit world

Hi all,

Just got a job offer from a top-tier BB to join one of their sector teams in London.

Alternatively, they proposed I join their mid-cap country coverage team based in the same city I am currently working in, in continental Europe.

The value proposition of a European sector role vs a regional coverage team is interesting, but relocating to London today sounds a bit risky to me - esp in a post Brexit world where it seems the trend is the opposite (i.e. londoneers relocating to continental Europe).

Any views/help/insight in comparable situations appreciated!!!! This is quite urgent as I need to revert with a feedback by the end of this week.

P.S. for context, I'm currently working as a senior associate in a lower-tier BB country coverage team in continental europe

Comments (13)

Jul 6, 2021 - 5:22am
walking_downside_case, what's your opinion? Comment below:

In my view the London role is considerably better from a career POV and the risk of significant movement out of the City to mainland Europe is not great enough to overcome the premium effect moving would have on your career.

Only reason I'd consider not coming to London would be the high cost of living / if you're really strongly connected to family in your current country.

Happy to provide further input if required.

Jul 6, 2021 - 6:53am
F1e3Morgan, what's your opinion? Comment below:
walking_downside_case

In my view the London role is considerably better from a career POV and the risk of significant movement out of the City to mainland Europe is not great enough to overcome the premium effect moving would have on your career.

Only reason I'd consider not coming to London would be the high cost of living / if you're really strongly connected to family in your current country.

Happy to provide further input if required.

Thanks guys, really appreciate the useful inputs.

Main reason why I'm hesitating to make the move is the personal side of things actually: I've recently bought a house here and gf cannot really move elsewhere outside the country due to her work.

Given how accretive to my career London certainly is, an option could be spend there a couple of years and then come back - but as usual it is difficult to predict/plan ahead in these cases.

Any further color/inputs based on the above will be helpful! Thanks!!

  • Analyst 1 in IB - Gen
Jul 6, 2021 - 7:08am
F1e3Morgan

I've recently bought a house here and gf cannot really move elsewhere outside the country due to her work.

Given how accretive to my career London certainly is, an option could be spend there a couple of years and then come back - but as usual it is difficult to predict/plan ahead in these cases.

I would strongly advise you to stay in your home country then. Am from Continental Europe / currently at a Tier 1 BB and the competition to relocate to my home country regional office is insane. I came to a point where I'm even considering to lateral to another BB with better chances of subsequently relocating. 

Also, would say the upside of a London role doesn't offset the downside of having to sell your (new) house / distance yourself from your gf. All the more so given you're a senior associate. 

Do you plan on staying in banking for the long-term? 

Most Helpful
Jul 6, 2021 - 5:59am
cyberpunk, what's your opinion? Comment below:

I would pick London over any other location in continental Europe.
As of July 19th the country is opening up fully and vaccinations are on the way, Brexit will have an effect, but if they are offering you the role in London they'll have a view that this team will remain there. Some teams and HQs are moving, but London will remain a very important financial hub.

If you have strong ties to your home nation and would miss the place/family/friends/gf/etc, then re-consider it, but I spent half of my career in London and it was the boost I needed to get ahead in life. Your network in banking, exit options and salary will be much bigger in London. yes, CoL is higher in London but so are the opportunities.
Even after years in London I didn't have a single boring day in that place. When I left I only moved because the new roles in North America were even bigger and with more $.

London/England has better shopping opportunities, more consumer services, a stable and modern financial system, a very open society that is more accepting of foreigners (especially in London), is fairly social (clubs/pubs/bars,..) and is overall a great place if you are in your 20s. All EU girls will be in London as well, so you can date whoever you like.
London is more of a challenge if you want to buy a house and have a family, but even that is a possibility if you really wanted it.

Jul 6, 2021 - 7:08am
F1e3Morgan, what's your opinion? Comment below:
cyberpunk

I would pick London over any other location in continental Europe.
As of July 19th the country is opening up fully and vaccinations are on the way, Brexit will have an effect, but if they are offering you the role in London they'll have a view that this team will remain there. Some teams and HQs are moving, but London will remain a very important financial hub.

If you have strong ties to your home nation and would miss the place/family/friends/gf/etc, then re-consider it, but I spent half of my career in London and it was the boost I needed to get ahead in life. Your network in banking, exit options and salary will be much bigger in London. yes, CoL is higher in London but so are the opportunities.
Even after years in London I didn't have a single boring day in that place. When I left I only moved because the new roles in North America were even bigger and with more $.

London/England has better shopping opportunities, more consumer services, a stable and modern financial system, a very open society that is more accepting of foreigners (especially in London), is fairly social (clubs/pubs/bars,..) and is overall a great place if you are in your 20s. All EU girls will be in London as well, so you can date whoever you like.
London is more of a challenge if you want to buy a house and have a family, but even that is a possibility if you really wanted it.

Thanks guys, really appreciate the useful inputs.

Main reason why I'm hesitating to make the move is the personal side of things actually: I've recently bought a house here and gf cannot really move elsewhere outside the country due to her work.

Given how accretive to my career London certainly is, an option could be spend there a couple of years and then come back - but as usual it is difficult to predict/plan ahead in these cases.

Any further color/inputs based on the above will be helpful! Thanks!!

Jul 6, 2021 - 7:33am
cyberpunk, what's your opinion? Comment below:

I moved to and from London several times - in all honesty, long-distance relationships didn't work for me. Plus there are so many nice girls in England who are attractive, single and very open minded. Every time I moved away from a location (to London), I completely forgot about the old place quickly. The real estate portion is another challenge, that is a heavy bill you are footing each month for something you can't use.

Unless you are going to marry this girl or she is really important to you...

How far is the other location from London? If it is Dublin or France, might work out. If it is St. Petersburg or Budapest... it all depends on how much additional stress and travel you want to bring into your life.

Jul 6, 2021 - 1:15pm
b43b6b7b82b87, what's your opinion? Comment below:

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