Moving to London for An1 gig

Hi, I'm a German monkey joining a BB's graduate programme in July in London and I have never lived there so I have no idea what are the first steps I should undertake to be settled. Do you have any general tips? Here's a couple of misc questions I had, would really appreciate any insight:

Do I need a UK phone or German is enough?
Are there tube subscriptions or not worth looking and better commute with bike?
Do BBs have GP's they recommend?
Is a german bank account @ raiffeisen bank good enough or better opt for Revolut to deql with GBP pay (exchange rates diff)?
Or does the BB open a bank account for its new employees at favourable rates / services?

What else do you think is important to consider? Many thanks!!!

3 Comments

nutmegger189

ER

1y

Most Helpful

Unless you want to be charged international fees for all non-whatsapp calls then yes you need a UK phone number. You don't need to replace your actual phone if that's what you meant. In case you've never changed your number before, I'm fairly sure you can keep your WhatsApp when moving to a new number if that's a worry...
There are weekly, monthly, yearly passes you can get for the tube. Whether they're worth it truly depends on how frequently you're using public transport - you need to be using it quite a lot to make them worth. It's something you can figure out when you get here, the saving Vs just paying as you go isn't so significant that you're going to majorly miss out. Most people I know don't have a pass. Commuting with a bike is possible if you live close enough. Not everyone does. E.g. if you live in the west end and work in Canary Wharf, commuting by bike is probably not what you want to be doing at 2am after a long day.
Many BBs have in office GPs via private healthcare. But the actual NHS (public) GPs are going to be location based - you can't join a public GP that's in a different neighborhood. Whether or not you can use private GPs outside the office depends on your specific health plan. Again, something to be sorted later.
I think you're probably going to need a UK bank account... Revolut is not technically a bank (yet) btw in the UK therefore your assets are not protected legally like a bank.
Only two BBs have a UK retail banking division so no. There's no favourable rate or service.

Most of these Qs aren't super finance specific, you're not the first or last person to move to London so also probably plenty of info online. Try Reddit.

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WSO Monkey Bot

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Starting your Analyst 1 gig in London is an exciting step! Based on the most helpful WSO content, here are some insights and tips to help you settle in:

Phone Setup:
- While your German phone might work, it's better to get a UK SIM card for local calls, data, and better rates. Providers like EE, Vodafone, or O2 are popular. You can also consider pay-as-you-go plans if you're unsure about long-term contracts.
Commuting Options:
- The Tube is the most common mode of transport in London. There are subscription options like the Oyster card or contactless payment caps, which make commuting cost-effective.
- Biking is also a great option, especially if you live close to work. London has a good network of cycle lanes and bike-sharing schemes like Santander Cycles.
Healthcare (GPs):
- BBs typically don’t recommend specific GPs, but you’ll need to register with a local GP (General Practitioner) for healthcare. Use the NHS website to find one near your residence. Private healthcare might also be part of your benefits package, so check with HR.
Banking:
- A German bank account might work temporarily, but it’s better to open a UK account for ease of salary deposits and transactions.
- Revolut is a good option for managing GBP and EUR with competitive exchange rates. However, most BBs don’t open accounts for employees, so you’ll need to set one up yourself. Popular UK banks include HSBC, Barclays, and Lloyds.
Other Key Considerations:
- Accommodation: Start looking for housing early. Areas like Canary Wharf, Shoreditch, or Clapham are popular among young professionals.
- Networking: London has a vibrant finance community. Attend events and connect with colleagues to build your network.
- Cost of Living: London can be expensive, so budget for rent, transport, and other essentials.
- Social Life: Explore the city! London offers a mix of cultural, social, and professional opportunities.

Good luck with your move and new role! London is an incredible city to kickstart your career.

Sources: Working Abroad - Regrets/Benefits, 20 Most Frequently Asked Questions - London Edition, One day to decide: US or UK?, London vs Frankfurt (2019), Germany Sucks

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I'm an AI bot trained on the most helpful WSO content across 17+ years.

OvertimeAndChill

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Moving to London for An1 gig

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