NYC or London
I’m in a NYC EB with a great culture but I don’t like the city. I love ( feel more comfortable) in London and was thinking about trying to lateral. If anyone has experience of working in both I would love your perspective. Disposable income, WLB, ability to break in socially etc. any thoughts welcome. Thanks!
Are you British or American ?
British but lived in the US for 20yrs.
Stay in the US, taxes will kill you here.
My boy about to commit economic suicide
I am in both locations currently, it would depend on where you stand in life.
After 20 years I would reckon that you are in a different spot than me, I am about to settle down (in both locations) and potentially have a family in the future.
I am guessing (don't know it) that you have done all of that already in the past.
Both locations are great IMO and if I had to make a decisions I would go with NYC for my life.
social life - better for me in NYC, but I do like the home counties in the UK
WLB - better in EU locations, although didn't feel like it in London. Wasted a lot of time on the tube and waiting, ..
comp - was the same for me in either location, but would be more in NYC going forward
I always felt like NYC is alive 24/7, there was always action, music, nightlife, a bar or people around you.
London does shut down, although it has changed in the last decade or so with more tube services at night.
Hobbies:
My hobbies are cars, racing, driving, road trips, tech, tools, .. and clearly that won't work in either one of the locations. Cities aren't designed for leisure driving.
But with enough time and interest the driving destinations around NYC are better than around London.
My other hobbies and interests aren't relevant in either location (2A, off-roading, hunting, ..) due to legal restrictions.
cost of living:
You make more money in NYC but the CoL is higher in my case. Have lived in Hoboken, other NJ locations, TriBeCa, (..). In London I have lived in Canary Wharf, Hammersmith, outside of London, ...
Culture/social life/groups (..)
Both cities are among the largest in their regions/continents and have some similar characteristics. The demographic is more international in NYC (historic port of entry for immigration, melting pot, ..) and a little bit more segregated physically. While London has demographics that are slightly more tuned towards their legacy structure (British empire/commonwealth, ..), socially, life in London was also more structured than I expected. Anyone can live anywhere in London, but social class, income, religion, race, culture, .. do have an impact.
Appreciate the responses. I’m single & just AN2 if that makes a difference.
Sorry, that was a misunderstanding.
I read this further up:
In that case you also have to consider where/how to settle down if that is something you want. partner, kids, private schools, insurances, pension ...
Comes down to a lot of things that’s personal.
People covered some points above and my 2 cents as below
1/ immigration-lot of uncertainty in the US vs UK, too many goalposts to achieve citizenship and one misstep, you get thrown out of the country
2/ Deal flow - much better in the US
3/ Vacations - No debate, London is way ahead, just a few hrs flight to catch up on myriad of destinations and experiences, comparatively US is a joke, both for destinations and for the culture that does not encourage it
I’ve worked in both (NY now). They’re both amazing places to be. I probably preferred London when I was there but it’s not entirely clear cut.
Comp / Money: Comp is higher in NY today, but in my career, I’ve seen it both ways so certainly may not be that way forever. That said, factored for cost of living, London feels like more disposable income today,
Dealflow: More in NY, but can’t fully generalize. Typically, if you’re TMT or healthcare or traditional energy oriented, it’s heavily US weighted. If you’re consumer or industrials oriented, it’s a toss up. Infrastructure and renewables weight London.
Quality of Bankers: Higher in London at a junior level (senior is industry sector dependent). The industry is a bit less cookie cutter and people are forced to think more in London.
WLB: London wins. I think this has a lot to do with there being less turnover and fewer MBA associates
Career Path: More A2A and fewer exits in London. Harder to lateral in except from the big 4 in the UK
Single Life: NY hands down
Family Life: London hands down
How does one get around the double taxation fiasco especially later on in one’s career where there would be a significant tax burden resulting from high earnings. Currently in the states but thinking of moving to UK long term - happy to take the pay haircut but don’t fully understand the tax implications.
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