Applied for a transfer from DC and have just received my offer of £118,000 pa 🤔 This was my salary equiv nearly 12 years ago

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£118,000 is good for a consultant.

likefunny

Welcome to London - I made this mistake too. I mean I knew it; my mistake was believing I could make it work.

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Around the year 2000, the EU (sans UK) and U.S. GDPs were about equivalent. Now the EU is roughly 2/3rds of the U.S. This includes for the new member states in the EU.

The US’s cumulative economic growth was about 60% greater than the UK from 2000 to 2026 (although the UK actually outpaced the U.S. in the early 00’s).

In both cases, the U.S. has sped away from the rest of the west - meaning salaries will probably never re-equalize. But if you spend enough time in either region, you’ll quickly realize the quality of life tradeoffs make the relative U.S.-UK difference in “economic compensation” a smaller difference that the massive “financial compensation” gap.

Examples:
- if you like culture, lower cost to access cultural amenities
- lower net social healthcare costs; generally stronger safety net contributing to a healthier society (I consider this a form of individual economic compensation)
- lower rates of crime (on average) for a big city
- high rates of walkability / livability (usually considered a “luxury good”)
- closer proximity to the “rest of the world”

I’ve lived in both and agree that the salaries are embarrassingly low. I think it’ll bite the UK in the long run, because it’ll be impossible to retain talent with markets like Singapore, HK, US, GCC etc offering opportunities for more compensation. That said, there are clear advantages that come with the costs — and it’s a preference thing in the end of the day.

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Didn’t do your research?

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What type of consulting?

I paid $45 last week in Chicago for a breakfast i could get here for £15. US is the place to earn massive money. But the consumer prices are also a total rip off when you compare it to most of Europe.

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Correct C1.

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Welcome to UK.. where we specialize in low wages because for decades of anti-growth policy.. driven by NIMBYs and their parties (Conservatives, Lib Dems, and catching up fast Greens)

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