Is 110k (gbp) a

kgbud · 2017-06-08T00:28:49+02:00

Hi All! Need some advice... My NYC financial firm has approached me about a position in London. Same title, Director, however the sterling salary they are proposing is significantly less than what I'm making in the US. I currently make a base salary of $200k USD / year. The London role is 110k GBP / year. This doesn't make any sense to me as using the USD/GBP exchange rate, I would think 200k usd should equate to approx~ 140k GBP. What am I missing? The position is considered "local", meaning it is not an expat position. I will be entitled to 2 mos of corporate housing while I find my permanent accommodations but that is pretty much it. I am planning to move there with my husband, no children. My husband will be accounted for on my T2 Visa but it may take some time for him to find work in the UK in his field (architect). All this said - we live very comfortably in NYC and have a comfortable lifestyle i.e. we dine out, take european vacations etc. 1) Is 110k GBP an appropriate salary for a Director-level professional in Financial Services (it's one title above VP and one below MD; you may know this level as "Executive Director") and 2) Is 110k GBP a generous salary to live on in a desirable section of the city center (i.e. Notting Hill/Bayswater etc)? Thanks all!

Is 110k (gbp) a "good" salary for Financial Services in London?

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kgbud Member

Member since 07 June 2017

kgbudMember07 June 2017 22:28:49

Hi All!聽 Need some advice... My NYC financial firm has approached me about a position in London.聽 Same title, Director, however the sterling salary they are proposing is significantly less than what I'm making in the US.聽 I currently make a base salary of $200k USD / year.聽 The London role is 110k GBP / year.聽 This doesn't make any sense to me as using the USD/GBP exchange rate, I would think 200k usd should equate to approx~ 140k GBP.聽聽What am I missing?聽 The position is considered "local", meaning it is not an expat position.聽 I will be entitled to 2 mos of corporate housing while I find my permanent accommodations but that is pretty much it.聽 I am planning to move there with my husband, no children.聽 My husband will be accounted for on my T2 Visa but it may take some time for him to find work in the UK in his field (architect).聽聽All this said - we live very comfortably in NYC and have a聽 comfortable lifestyle i.e. we dine out, take european vacations etc.聽 1)聽 Is 110k GBP an appropriate salary for a Director-level professional in Financial Services (it's one title above VP and one below MD; you may know this level as "Executive Director") and 2) Is 110k GBP a generous salary to live on in a desirable section of the city center (i.e. Notting Hill/Bayswater etc)?聽聽 Thanks all!

GuestPoster5144 Guest

GuestPoster5144Guest25 August 2017 19:27:26

214245

You will probably find that salaries for positions like this are a bit lower than in major cities in the US, but this sounds low for the position you describe, as London is really on a par with anywhere in the world in terms of the banking industry. The cost of living being so high here is probably something you will need to consider more than than the salary itself. That said, London is a great place to live so maybe don't write it off just yet! good luck

stumpy Laos Expert

Member since 27 November 2009

stumpyLaos Expert25 August 2017 21:28:30

17983

I agree with joshuapeso.
Check out this website for cost of living聽

Cynic UK / Netherlands Expert

Member since 15 September 2015

CynicUK / Netherlands Expert26 August 2017 08:34:02

7697

The salary they are offering is probably more related to how much they are already paying your peers in London and not wanting to cause wage inflation.

abdulkhalil Banned

Member since 19 January 2017

abdulkhalilBanned27 August 2017 23:49:21

684

It's a really good salary for any other parts of the country in any other field, not the top but really good, especially when there is talk of many of the big financial firms moving over to Europe due to Brexit. Consider commuting to work.

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