£70K pa salary?

£70kpa is approximately US$113kpa. So, it's a pay-cut from your US$120kpa and don't forget to factor in the 40% tax rate. The new cost of living indices were released recently and London fell to #16 most expensive city to live in while NYC rose to #9. I've been offered a job in London with a slightly bigger pay-cut and there is a higher cost of living for me (Los Angeles is #27). I have decided to accept it; the experience of living in London for a year will be well-worth the money.

Hi,

are you moving alone or with a family? 70£ is pretty good indeed

That sounds really good but then it is a pay cut from what you get in the US. Good luck with whatever you decide to do. London is expensive.

Whether it's worth the move depends on how much you want to live in the UK and what your "real" net gain will be. Your biggest cost (unless company is paying) is housing. £70k can get you a lot or not much depending on the type of area in which you wish to reside, and the lifestyle you want to lead.

One thing to bear in mind is exchange rate gains and losses. If you are being paid in sterling, any savings that you return to the US with could significantly increase or decrease in value based on where you think the GBP/USD rate is heading.

Gosh....You guys in U.S it's always about money ! 70K's it's pretty good you are probably in a top 0.5 % of the population who earn that much. There's more than 1 billion people leaving with a dollar per day on earth.

I tell you  what ... this is an amazing new !!! We all die poor ! And the experience of living in London is priceless you won't bring with you your Porche, Flat or diamonds 6 feets underground but I beleive this is a cultural stuff here.

Cheers,
Oli

Oli&Oli wrote:

Gosh....You guys in U.S it's always about money ! 70K's it's pretty good you are probably in a top 0.5 % of the population who earn that much. There's more than 1 billion people leaving with a dollar per day on earth.

Now I get it. That's why the French refuse to shower.

Humm...I like this line Moel, didn't now about it...

Delighted to humor you, sir.

We should all think about it. Bathing is a waste of water and soap contains chemicals that harm the environment and all those poor, famished African kids. We should refrain from bathing while there are people who live on less than a dollar a day.

Go French! Bathe once a year!

Oh, and dont even get me started on tooth paste and toilet paper.

Anyway, this is a really good offer. London is an expensive city but I would sign

I agree with tarqfon.  You have to factor in the intangibles as well. Think of it as buying an experience if there is an absolute paycut.

Also, if you are into travelling, being in London itself allows you to travel into Europe relatively cheaply. Now, that's a huge plus!

the 70Kpa, is it after tax? guess you might have to consider everything before deciding.

london is not expensive, but only two ways : very expensive or insane expensive

Oli&Oli wrote:

Gosh....You guys in U.S it's always about money ! 70K's it's pretty good you are probably in a top 0.5 % of the population who earn that much.

Oh please!  70K, while allowing someone to live comfortably in most areas of London, would not put someone in the top .5% of earners. 

To the OP:  I think the answer to your question depends on more information than you are giving us.  Where in London would you hope to live and what type of lifestyle do you have?  If you are hoping to live in the ultra-trendy areas of London and perhaps are used to having a multi-bedroom house or flat, these will come with a price and 70K will probably not cut it.  If you have a more modest idea of housing and a lifestyle that doesnt include meals out every night at the best restaurants, then you should be fine on 70K. 

According to this salary calculator, your take home pay on 70K would be just under £4,000/month.   Take a look at average rental prices in the London area which you'd like to live and see if they fit in this budget.

Good Luck


Blog: www.beyondthequeen.blogspot.com

The average salary in London for a male worker is 45k gross

70k gross = 47k net of tax (approx)

or 3,930 per month

Rent for a decent place at least 1,600 for single person. Travel on tube 150 pounds council tax 150 utilities 100. So thats 2,000k gone already

1,930 left for food, holidays etc. If a family of four rent would easily be 2,500 per month.....

70k gross in London is "ok" for exapts if accom thrown in then good!