Hi guysI am an incoming IB analyst relocating to London from Continental Europe.
My firm is located in CW and was wondering what's the best place to live in London?I was considering London Bridge because I really like this area and some neighborhoods closer to the office maybe Canning Town?
Also, as a A1 what's a decent amount to allocate to rent knowing that I am gonna spend most of my time in the office?
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Do the sensible thing and live somewhere along the Jubilee line - trust me, it will make your life a lot easier and your commute all the better
And before you ask: no, don't live in Canary Wharf
Yes, it's much better than when I was there c. 11yrs ago, but it's still removed from the main part of the city and (despite efforts otherwise) is still somewhat stale
A1 is a Year-One Analyst, right? So assuming you're taking home a base of £60k and a bonus of £40k your first year, that's £100k - or around £65k after tax
In other words, ~£5.5k/month, albeit with uneven cash flow through the year (£3.25k for most months, and then your bonus month, evening things out)
I'd suggest paying somewhere in the region of £1,500/month in rent
London Bridge, Southwark, Westminster are your best bets - with Westminster being the most expensive of the three
Southwark / Blackfriars (i.e. the north side of Southwark) is a genuinely lovely area: centrally located, loads of restaurants / bars / pubs, and excellent access to the rest of London
I have friends way beyond their analyst years still living there (like they did when they first started), and frankly the only reason they'd move at this point is for a bigger house and some more garden space (i.e. for children)
I'm also a big fan of London bridge (for all the same reasons as Southwark) - main differentiator is that it's a little less central (still very central by comparison to some other parts of London) and, personally speaking, I've never lived there myself, so can't vouch for it as strongly as Southwark / Blackfriars (where I have lived)