Why are salaries so damn low in London 😭 i should make >60k TC (touch wood) with ~1YOE but I still don’t feel I could rent a decent place in zone 2 on my own :(

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Check out the median and mean salary in the UK and London!

You're just out of education, just into working world, you are well paid. Stick at this ten years, and you’ll be in the 1%. I have friends in the North-East with 25 years of leadership and operational results that don’t make your base

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When did you start renting in London? If you haven’t looked at the market recently, I would. 700k people have left London and the usual migration isn’t there (brexit/travel bans from other countries). The lack of travellers is also leading people to list their short term let’s on the market. Rents are at least 20% lower than last year. You can definitely find a one bedroom within zone 1/2 for £1200 a month.

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60k on 1YOE is like double what most non-Tier 1 consultants are on in London

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SSC1/OP - it is tough but still better off than many others (teachers, nurses for a start). And at least London has housing stock. Try renting in a city slightly larger than Zone1+2 surrounded on 3 sides by water (SF), or trying to buy and getting outbid by multimillion cash offers (entire Bay Area).

There's a tipping point at about £100k where you outpace general living expenses and start to feel like you actually have some money. Stick at it champ!

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McK1 felt like that was true...till I had kids.

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I’m on £40k 4yoe at Big4 and fortunately been able to move home since covid hit. Rental cost and difficulty in saving money whilst I was living in London had got me starting to look into relocating up North before March, if we are ever expected to go back to 4/5 days in the office again I’ll probably start looking again.

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I have two friends (couple) living in a nice central manchester flat for £700 a month... £350 each 🥲🥲

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Yeah, I 100% feel you. I’m on ~£90k TC at 1.5 YOE but still live in a crappy house-share and can barely afford anything. Tax is ridiculous (and unfairly penalises single earners and those living in high CoL cities like us). Hard to not get jealous of my friends on £200k at quant firms with 1YOE :(

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You could DEFINITELY live alone if you wanted to on that. I’ve over 10 years, make less than your 90k, and in my mid 30s. People feed families on less than half of your salary, so “I can barely afford anything” is a wild exaggeration...

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Guess you’re right BCG1! I also earn much more than my parents did so I do feel lucky... but just want to stop feeling like a child (having to live with other people, housesharing) haha. More of a vent than anything constructive :/

Why do you even need to be in Zone 2 with lockdown and WFH going on for at least another year?

Also depending on transport links, sometimes going from Zone 3 on an over ground train is faster than Zone 2 tube.

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