Reply to: Moving to London

[JohannM]

350/day

Well I think 350/day is a reasonable pay.

Is it possible to get more than that in London?

As regards to saving, I think it depends on your lifestyle eh.

[oracleslave]

I thought the average income in London was closer to the 40k mark.
To clear that in a permie job, you'd need be on around 60k which is a really good salary (I think).

Probably true. I was estimating

Impossible to answer if you will work 44 weeks without knowing your circumstances, skillset, experience etc etc.

[monkeyBoy32]

I thought the average income in London was closer to the 40k mark.

Is it reasonable to think you'll be working for 44 weeks a year?

I was just using the ir35 calc and, if you're on 350 a day, even inside ir35, you're clearing 3,555 a month working 44 weeks a year.

To clear that in a permie job, you'd need be on around 60k which is a really good salary (I think).

[oracleslave]

I just want to check something with you guys - Living in London is expensive, sure, and maybe those really high paying finance jobs will be harder to find but, even if you've got a 300 - 350 a day contract, surely you're earning more money than most people in London anyway?

I mean, on that rate, you're still crearing a good few k each month - more than enough to pay a mortgage and live comfortably?

Yes provided you have very little time between contracts you are earning more than the average employe (I think average wage in London is around the £30k mark) As far as mortgage goes, well that obviously depends on the size of it etc.

[monkeyBoy32]

I just want to check something with you guys - Living in London is expensive, sure, and maybe those really high paying finance jobs will be harder to find but, even if you've got a 300 - 350 a day contract, surely you're earning more money than most people in London anyway?

I mean, on that rate, you're still crearing a good few k each month - more than enough to pay a mortgage and live comfortably?

[Moscow Mule]

Noddy

did not get what you wanted to say in your post.

I will be searching for accomodation in West London, I know its expensive but that is where I wanna live

And I always worked with an umbrella company, so i will continue working with an umbrella, at least until I get the feel of how to run a proper company

cheers

I think he was trying to say,

"The banking market will be in a downturn in the next 6 months, so don't bother"

I'm of the other opinion, in that, only some banks will be heavily affected so work will be harder to find for folk that have done it before, but not for newbies, so don't bother

[JohannM]

Noddy

did not get what you wanted to say in your post.

I will be searching for accomodation in West London, I know its expensive but that is where I wanna live

And I always worked with an umbrella company, so i will continue working with an umbrella, at least until I get the feel of how to run a proper company

cheers

[NoddY]

I think if you are going to work in finance, you are better off under an umbrella.

This is because in 6/12 months time you'll be on the dole and the DSS ask company directors funny questions. I also hear Camden pay up to £260/week for 1 bed flats on the housing benefit. Good luck!

[JohannM]

moving to london

Hey Bovered

At last some inspirational advice

Thanks, looking forward to join the party!

[Bovvered]

Yeh, and the moment you've got a few of years of investment banking under your arm you'll be earning double that, so get over here and join the party!

[JohannM]

350 a week

Yeah that is what I will be looking for when I move. With 5 years experience in .NET and almost 10 years in IT, I think its possible.

[MrMark]

You can find places to live that aren't too expensive if you're prepared to live Zone 4 or further out. Doesn't mean it'll take an eternity to travel to the centre either - trains can be a lot quicker than a tube plodding in from a crowded Zone 2 spot.
If you can work and live in London, you won't need to run a car (in fact it'll be a liability for travel within the place).

[Sausage Surprise]

You'll need minimum £350 a day to afford somewhere to live.

[JohannM]

thanks

Hi Ruprect

At least can you tell me how the market is? Is it worth to come to London in the first place?

[TheFaQQer]

Dear All

I am an IT contractor working in Ireland for the last 2 years, and thinking of moving to London next year.

Don't - it's fecking awful.