London Analysts, how much do you plan to spend on your holidays?

Now that we are approaching the summer and people are starting to plan their summer holidays or post-summer trips, I am curious to know how much my peers plan to spend in their holidays. 

My plan was to take 10 days of time off + the 2 weekends in between in mid September and travel to do US with a friend. Our plan is to visit NYC - Miami - LA and SF in 14 days (sounds ambitious, I know). 

After having a look, Flights + Hotels + Food and Leisure, the cost of the trip will go to close to GBP 2.4 - 2.8k as all these cities have a high COL, which If I think about it that is a ton of money. 

I am currently making 65k and my base is expected to go up to 77k from August, besides by that time I will already have paid my bonus (which honestly I don't plan to touch). I manage to save close to 1k -1.2k every month, so I can afford the trip, but I am curious to know if it is normal for an analyst to spend so much on holidays, or am I going way above the average. 

I will become VP soon, and even for me this is too much money for a trip. Unless you're going on a honeymoon, I wouldn't burn such amount of cash, especially given the lack of job security in the industry.

Most analysts and ASOs in my group will go to places like Majorca, Cornwall, Malaga, Portugal and spend around 1,300€, maybe the most posh ones will go to Ibiza or Mykonos and spend 2k.

That seems like a lot of money to spend as an analyst, especially in this market where you really might need your savings in a layoff. I second the above, I am several years senior to you and I would still struggle to justify spending this much.

Also a ton of time on planes. I would pick one coast and cut the trip to 8-10 days. 14 days is a long time to be traveling. I totally get the feeling of finally having money and being able to travel, but the US will be still there in a few years when you have more money. Personally, I'd take the time and hit California (not just LA/SF) you could spend the entire vacation in that state

Explain me how would you budget 12 days in the US (travelling from London to NYC, and then paying internal flights to LA, SF and Miami) + accommodation + transportation + food all under 2k? Actually I am impressed OP said he can do it with 2.4k

I went to NYC 8 months ago and just staying 4 nights in an average hotel in Manhattan cost me 1.2k 

Fact that you clearly cannot manage your money properly (e.g. wasting 1.2k for 4 nights in a city full of homeless people where no one wants to go) show that you are destined for poverty. Don’t get me wrong: I know that you make a lot of money. My point is that you can make as much money as you want: if you don’t manage it properly / if you live above your means you will be poor forever (that is your case)

It’s kind of okay. Yes it’s a lot of money. Yes you can do things cheaper. But if this helps you relieve some stress and keep you in the job, then why not. Your pay goes up exponential from here and the amounts will be meaningless soon. The US is also just expensive, so unless you’re willing to cross the US off your list then you kind of have to pay up. I wouldn’t not go just to save the money. I’d maybe try to pick a cheaper destination next year or consciously cut back on some other things you’d otherwise do later down the year (expensive dinners, members clubs, whatever)

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I am surprised with some of the answers above.

One of the perks of working 80 hours a week in Investment Banking is that you make more money than the average, and you can enjoy some luxuries that middle class people can't, such as expensive holidays. 

Spending 2500 pounds in a trip to the USA is expensive but it is not that crazy, I have seen worse. Actually, being a VP and spend only 1200 pounds a year on a trip to Cornwall is even more strange. Seriously guys, you only get to be young once. 

Having said that, I agree with some people above, 4 cities in 14 days is too much, I would probably cut it to 2 cities, this way you will also save some money in flights. 

Analyst 3 here (ignore title) 

Planning to go 5 days with my GF to Formentera in Spain in July, and then 5 days with some friends to Croatia. I have everything booked, total cost of both trips is c. 1,500 quid. 

Depending on the destination you might want to book several months in advance. 

Usually I don't spend more than 2k. 

Between 1k and 3k is the general norm, but I feel like 70% of people keep it below 2k.

There are always some outliers that spend 4k, 5k, or more, but probably is because these people come from a rich background so they already had high standards for their vacations (1st class tickets, Mandarin Oriental or four seasons hotels, expensive restaurants, VIP tables in clubs, boats, luxury cars).

£4/5k will not be getting you first class tickets or stays at a Four Seasons with VIP tables. 

One night at the Four Sseasons in South of France is 3k euros in summer. You'll struggle to get a nice hotel in Europe for <500 euros a night in peak summer season really.

Surprised to hear about VPs/ sr associates being so frugal here.

OP - do you have any air miles/ hotel points from work travel? That can help a lot with long haul flight tickets (especially if you want to go in business). Would also get into collecting them from credit cards

I can't believe what I am reading in most of the responses so far...Seriously the guy who commented who's almost a VP and won't spend GBP 3k on a trip unless its his honeymoon? You guys seriously need to learn how to live a little and it is definitely not the norm to spend so little...

Everyone has different priorities in life. For some living in a nicer place or having a nice watch is important, for others (like myself) the priority is to travel and make memories. You are working hard and if letting it loose a bit on a trip here and there is what helps to keep you sane then just go for it. What's the point of being in the top 1% of earners for your age if you can't even go on the trips you want? Your pay is going to increase exponentially from here so I think that cutting out awesome experiences to save an extra 1k per year is a mistake.

Ignore my title, I left banking a couple of years ago but I'm 27 and have visited over 50 countries (pretty much all self funded apart from a few family holidays when I was a child). In my opinion spending my summer stuck in a resort in Majorca or Ibiza like every other dickhead in London is the most dull thing I can imagine - the world is there to be explored. I spend the bare minimum on rent, I don't do many fancy dinners and I don't spend real money on anything else, but I don't compromise on travel. Last year I spent c. GBP 10k on travelling and I'm on track to spend the same this year (no crazy hotels or business class flights, this is just due to frequency of travel). This is something I budget for so I am still able to achieve all my savings goals.

Sounds literally fine. I'm about to spend 3k on a trip to Asia for 2 weeks (flights are 1/3 of that roughly). Base 75. Bonus who knows.

Everyone above is saying "that's way too much" then quoting sums for 5 day trips or weekend getaways? Did y'all even read the post? It's a long haul flight and 14 days long to places with a similar COL to London. It's not Krakow drinking 2 euro beers for a 4 day bender.

For everyone saying "you might need that money if you get fired" etc. Do you guys not have any savings lol? Are you living paycheck to paycheck? I have like 6 months of emergency fund saved assuming I still have to live independently. Then I have other pockets of long-term savings if things got really bad. You guys are seriously making top 5% of income out of school and can't afford a few grand for a holiday?

If you're not in a position to fund yourself for 3+ months OP in the scenario you lose your job then I'd reconsider the trip. Otherwise, go for it.

If the perception is that Investment Banking professionals shouldn't do a trip to America because otherwise they can't save 20k of their base, then RIP to the Tourism and leisure industries. Some of the replies above are just ridiculous, I want to believe some people are just trolling, otherwise it is very sad. 

Not from London, I am an ASO in Paris and I spent 6k last year on a trip to Australia and New Zealand with my girlfriend, best experience ever. I will probably spend something similar in October.

Honestly the pricing seems pretty reasonable, if your bank can let you go for a 2 week holiday why not go big, you're young and this is really the last time in your life you could do something like this. 

Personally it's a bit pricey for me, I usually just spend a week in Europe somewhere by the sea and spend like 600-700 quid. But then again i really don't like spending money and i feel at home by the med lol

I don’t get the math. A flight alone is like 500-700. Hotels at these tier 1 cities are super expensive too ~150-200 a night. How is your trip so cheap is the real question.

Don’t listen to people saying the 2.8k is excessive - yeah it’s a decent chunk of money but that’s for a 2w vacation on another continent so it’s really not that bad.

If they would rather fly easyJet to an all inclusive resort in Spain that’s up to them but enjoy your 20s too (especially when in that financial position, working in IB)

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