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Additional Posts in Londoners in Consulting
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What careers pay the best in the Uk?
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It seems that London is becoming even more expensive
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Thanks for sharing! I saw some other websites that had London even higher on the list. I just cannot believe how poorly people are paid here. At least the pay is a lot better in the states.
OP very interesting topic I would love to know that too. I worked for a small US based consultancy we have unlimited PTO and I can tell you everyone make use of it no matter where they are based.
They also pay less based on when people are located in the world which I don’t understand especially because London is so expensive.
I’m trying to workout the cost of labour per hour for different cities in the US and London to compare since it seems the arguments would be that it cost more for a company to employ someone in London than in Atlanta or SF which I don’t believe…
This. I moved to London from the Midwest where I definitely wasn’t making SF money and still took a 30% cut
According to your link
SF is 19% higher
Boston 5 % higher
Chicago 14% lower
Atlanta 23% lower
So 30% cut is not justified for me
Supply and demand
Labor supply is very high in London. Very easy to get high quality talent from all over the world. If somebody wants to live in London, what's their likely second choice?
It's supply relative to demand. Demand is higher in the US.
Compensation is primarily driven by replacement cost. In the US, your replacement costs significantly more than it does in the UK because I the US workers have more options.
I don't have numbers on it, but anecdotally, business consulting doesn't seem to be as in-demand in the UK as it does in the US, so you may be seeing an increased difference. The gaps seem to be less severe for IB and tech. Again, this part is more anecdotal.
London is expensive within Europe, but in my experience still nothing like living in SF. The difference between SF and London is like comparing London with somewhere like Prague.
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Lol D2 you cannot be serious with that Prague comparison. London is in fact one of the most expensive cities to live in in the entire world. Look it up on google my friend. Many sites even have it above SF.
UK vs US work culture. The flexibility of culture (ie wfm when u want), PTO 25 days + bday and bank holidays (adds up to total 31ish days), and the fact that in the UK people tend to understand the separation of work vs life.
my understanding is that the US does not have that level of flexibility, therefore the pay is much higher
I don't think the pay disparity is closely tied to flexibility. Flexible work schedules are pretty common in the US.
There's a difference in overall work culture with more Americans apparently consumed by their careers and not taking holiday as often as as people in the UK.
But the pay disparity is more largely driven by other macroeconomic issues. Healthcare, university, and retirement savings are significant. The US doesn't distinguish income and class very much, so many people equate salary with "prestige" and are willing to sacrifice and push more for increased salary.