In light of Brexit, the London offices of banks will likely have a tougher time accessing the rest of Europe. As banks are now looking at other cities to put their main European offices, Dublin seems to be the first choice for BoA.
Bank of America Corp. views Dublin as its default destination for a new hub inside the European Union if Brexit means the U.K. loses easy access to the single market, according to one of the firm’s top executives in Germany.Ireland is a natural choice. It retains the minimal time-zone difference between New York and Europe and means a relatively small move for erstwhile London bankers. Also there’s the whole language thing. “Dublin and Ireland are the closest you’re going to get to London and the UK,” the city’s investment spokesman has said, which essentially translates to, “Don’t worry about learning a new language, lazy Americans.”
If you were a London banker , would you move to Dublin? I’ve personally traveled around Dublin before, but I’ve never been to London. Can anyone tell me how the two compare in terms of lifestyle, cost of living, etc?
Deciding on this technology associate job at an investment bank in Dublin (Originally Posted: 09/07/2012)
Hi,
I have just graduated from university and have been offered a graduate position in the technology sector within an investment bank in Dublin. I am looking for advice as to whether it is a good offer or not,
the job is permanent and is does not have a rotational program and my most worrying concern is the salary. It is 35k euros (~27,000 pounds). I appreciate that this is a very good salary but don't think it is good for an investment bank and this is it, no bonus's included. I was wondering if this is a good deal or if I would be underpaid?
Also, just to stop people accusing me of being greedy and/or expecting too much, I have another offer (for a media company) in London offering 25,000 pounds within the IT sector which I would accept if I turned down the job at the IB, I am not at all money orientated I just don't want to be working 100 hours a week to get a substandard salary.
Thank you in advance for your help!
That is really low. Base for BO should be around 37000 GBP. It might be because it's in Ireland but Ithink they are low balling you.
Thank you. That's what I thought. Such a shame because I would have loved to work within an investment bank.
You won't be working 100 hours a week...so I'm not sure what you're talking about.
Thanks for the reply Flake. 'What I'm talking about' is that I do not believe that 35k euros is an acceptable salary for the amount of work I would need to put into the company. Whilst 100 hours may have been a slight exaggeration, I am quite sure I will work much more than the 40 hours stated in my contract and will most probably work weekends as well. On top of this, I am curious as to why this is such a low salary in comparison to the IB's competitors or even with the salaries they offer to graduates in identical roles in London. Yes, London is more more expensive, but by what, 3- 4 thousand pounds a year? Certainly not 10k more. I believe I asked a fair and justifiable question and would genuinely like to know if you think the salary is good or not for a technology role at an investment bank?
I'm not familiar with the Irish salary levels, but since Ireland is having some issues at the moment, how is the general salary level there? How much will you be earning at say a Big4 in Dublin? Do you know that (or another salary to compare to)?
That salary is good for entry level IT in Dublin.
What makes you think you're going to work crazy hours? Bankers do, IT staff generally don't. You may have to work on week-ends if you're doing network or systems engineering, and that would be mentioned in your contract. If you're doing development, you definitely won't work on week-ends, and you'll work 50 hours max.
At this stage of your career, take the job that's going to give you a better shot at achieving your goal (whatever that goal is). Generally, take the job which gives you better skills.
Would you prefer living in Dublin or London?
Thanks for all the answers, I have found this link,
http://www.payscale.com/research/UK/Job=Graduate_Software_Engineer/Bonus
suggesting IT salaries in the city range from 23-33k euros. So I guess the salary is at least above the average. It is good to know that I won't be working crazy hours - the job will be a developer role. I believe the job will come with some training and I really clicked with the team at the interview. I would rather work and live in London if I'm honest, is it possible to move around to different countries within IT at an investment bank?
IT skills are in demand pretty much everywhere, so if you're good, moving to another country won't be a problem.
Right now, pick the offer you really prefer (if possible, the one giving you better skills).
It's perfectly fine to care about money, but think about what you're going to earn over a life time rather than what you make the first two years of your career. Especially since, in practice, there's little difference in terms of money between the two offers you have.
Thank you, a very good response :).
The role in London is more of an IT security role rather than a developer role which I am much more interested in. I wanted to work in an investment bank mainly due to the international travel involved and the renowned training schemes they offer. Although from what I have gathered from the IB role, it is a permanent position so does not give me a rotational program as normal graduate roles do so I don't think the training scheme will be as comprehensive as an IB in London.
So I think the plan will be to take the role in London and hopefully move to the financial industry in a couple of years when I have some experience behind me, thank you for your help!
Hi how has it been I'm also from Ireland And I'm interested in what choice u made?
anybody else see the timestamp error?
OP: you're probably dead but 25,000 pounds is a great salary for 1969.
The city is small, amenities are few, Irish accent is thick and the weather is permanently bad.
You are legit throwing away your best years.
Irish accent is hot though
If I lived in Ireland I'd probably just do something entirely unrelated to banking or professional services.
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