Reply to: Hasta La Vista London

[unixman]

The OP is a special case in that he already lives near Skipton. It is less a case of "goodbye London" and more "hello, home".

One slight advantage of actually moving out of London/SE is that your house will suddenly expand to 3,4,5 or 6 times the size. Much of the greenery you see out of the Window is your garden, and you will have a kitchen of the size and type that a footballers wife would be envious of.

And there is actually some tarmac to run your M3 on.

[oliverson]

If they are willing to pay a 30% premium over the market rate then go for it. If they are not willing to pay a 30% premium the job needs to be in a cutting edge technology area for me to consider.

If neither of these conditions are met then I would avoid. Working in one of the top 3 - JP, Goldman or Morgan Stanley is not a great experience anyway, regardless of what the badge says, infact I would go as far to say that I would go out of my way to avoid working at pretty much any IB these days and I have been working in the sector for well over 15 years.

The main reason for this is pay erosion and other industries willing to pay equal and in many cases much more than IB's.

The places to work in the City on the client side are in Insurance and Asset Management, not in an IB.

I just left an Asset Management firm :-( Thanks for your input.

[Bluenose]

It occurs to me that I can't be alone in thinking this way so I would appreciate comments/advice especially from those who have been in this situation please.

If they are willing to pay a 30% premium over the market rate then go for it. If they are not willing to pay a 30% premium the job needs to be in a cutting edge technology area for me to consider.

If neither of these conditions are met then I would avoid. Working in one of the top 3 - JP, Goldman or Morgan Stanley is not a great experience anyway, regardless of what the badge says, infact I would go as far to say that I would go out of my way to avoid working at pretty much any IB these days and I have been working in the sector for well over 15 years.

The main reason for this is pay erosion and other industries willing to pay equal and in many cases much more than IB's.

The places to work in the City on the client side are in Insurance and Asset Management, not in an IB.

[oliverson]

Oh Oliver what a mistake! And you know, now that you've been out of the London game for 5 minutes it's going to take some effort to get back in!

Fortunately that hasn't been the case as I have a final round interview next week with probably the most prestigious IB on the planet (the first round was initiated before Xmas - talk about moving 'fast')

This is really hard for me because on one side of the coin I'm really happy with the current situation. The feelings of making a mistake coming home are subsiding and the people I'm working with are decent. Even the project is becoming interesting. As far as contracting in the north is concerned, this really is as good as it gets for me. However, how can you turn down this opportunity? It's eating away at me. No sooner do I dip my toe in the market again than it gets bitten off by an almighty fish. If I land this one then it's the biggest catch for a contractor with my skill set , if I turn it down will I always be wondering? Am I really so shallow that this has any relevance whatsoever? Have to make a decision by tomorrow lunchtime.

It occurs to me that I can't be alone in thinking this way so I would appreciate comments/advice especially from those who have been in this situation please.

[DannyF1966]

Mind you I avoid Skipton when the contracts appear. I find it an absolute pain in the rear to get to so don't bother...

Just before I started contracting and was looking for a permie role, I had an interview at the payday company in Skipton. Pleasant enough drive to get there, lovely sunny day, but wouldn't look forward to doing that commute every day.

[ChimpMaster]

Oh Oliver what a mistake! And you know, now that you've been out of the London game for 5 minutes it's going to take some effort to get back in!

I contracted in the City for years and absolutely hated the travel (birds eye view straight line 30 miles from home, but 90 minutes travel time), but loved the environment - the good years were before the credit crunch. I made some of my best friends/colleagues and enjoyed socializing with the numerous other contractors in the City. And for the most part, these were good, clever, interesting people who came from a wide variety of backgrounds and had interesting experiences to share. I've got some great memories of my working life in London.

But times changed around 2010 when cuts and layoffs (replaced by offshore) came in, with the City still reeling from the financial crisis that it had helped to create. De-motivation was rife and it wasn't long before the old teams were dismantled and everyone wanted to move on, or were forced to move on. I thought this might have changed now, 5 years later, but from reading these boards it still seems to be the same.

I've been out of London for a while now, and while the working environment isn't great - nothing compared to London - the money is better and I have more family time overall.

I'd still go back to London if I had a chance at some point, though not for the lower rates on offer now.

[flipFlop]

I must have been on drugs when I posted this.

That was patently obvious.

[flipFlop]

...I have actually landed a very good contract outside of the London investment banking sector, close to home and on a decent rate. Looks to be some longevity to it as well. Also seems like a very interesting project... I was tempted to say "I'll be back" but I really doubt, hope and pray that's not the case.

What could possibly go wrong?

[GlenW]

I love it too, just not the work. When you've spent a long time contracting in the London IB sector, it's hard to adjust to a much slower pace of life. Whether it's shallow or not, there's a feeling of loss of prestige and missing the buzz of the City. Then there's the money! I could work 9 months of the year for the same turnover. Maybe even less.

...

[eek]

Talk about making a big mistake. What a backwater!

I must have been on drugs when I posted this. All those 'positives' were just illusions. Either that or I was bigging them up in an attempt to convince myself I was doing the right thing.

Meanwhile, everybody around here is trying to get in on the London investment banking market. Including me (again).

By the looks of it you already lived near Skipton so basically you've picked a bad contract.

Mind you I avoid Skipton when the contracts appear. I find it an absolute pain in the rear to get to so don't bother...

[oliverson]

Just goes to show, it takes different strokes. We love it around here.

I love it too, just not the work. When you've spent a long time contracting in the London IB sector, it's hard to adjust to a much slower pace of life. Whether it's shallow or not, there's a feeling of loss of prestige and missing the buzz of the City. Then there's the money! I could work 9 months of the year for the same turnover. Maybe even less.

[GlenW]

nr Skipton

Just goes to show, it takes different strokes. We love it around here.

[oliverson]

Whereabouts in the Dales are you?

nr Skipton

[GlenW]

Talk about making a big mistake. What a backwater!

I must have been on drugs when I posted this. All those 'positives' were just illusions. Either that or I was bigging them up in an attempt to convince myself I was doing the right thing.

Meanwhile, everybody around here is trying to get in on the London investment banking market. Including me (again).

Whereabouts in the Dales are you?

[oliverson]

Talk about making a big mistake. What a backwater!

I must have been on drugs when I posted this. All those 'positives' were just illusions. Either that or I was bigging them up in an attempt to convince myself I was doing the right thing.

Meanwhile, everybody around here is trying to get in on the London investment banking market. Including me (again).