A great place to find a job...
London exerts a seemingly inexorable pull on the nation’s young professionals. Whether it's straight after graduation or a few years into a career, it sometimes seems as though everyone wants to move to the capital at some point or other. With this in mind, it is worth considering the pros and cons of living in the big smoke.
London remains the place to be if you want to find a job. All the major banks, law firms, consultancies, etc. have offices in the capital, attracting an ever-growing percentage of the nation’s professionals. And of course the city has much more to offer than employment opportunities. As far as night-life, entertainment and the arts are concerned, London really does have it all. It is the most cosmopolitan city in Europe and can be an extremely exciting and vibrant place to live.
...but at a price.
Accommodation, transport and general living costs range from fairly expensive to unbelievable. If you have been offered a position and you think the salary seems generous, remember pay levels are generally much higher in the capital.
The average salary in London is a lot higher than anywhere else. But then salaries should be higher – the cost of living is higher too!
If you wish to live in rented accommodation, this too is around three times as expensive. You will probably be looking at £800 – £1,200 per month for a one bedroom flat. Flat-sharing usually cuts the cost significantly – ask your employer for assistance, perhaps a future colleague can provide contacts for reasonable digs. Independent landlords advertise property in local papers such as Loot and are worth checking out as they are generally a little cheaper.
And don't forget the travel costs. A monthly travelcard will cost you in excess of £100 (significantly more if you live outside the city's central two zones). Restaurants are more expensive, drinks are more expensive, night clubs are more expensive, even groceries can be more expensive! And if you want/have to drive a car into central London it will cost you £10 a day under the new congestion charge.
Obviously, London has many more advantages and disadvantages than those mentioned here, the point is any prospective move to the capital requires serious consideration, especially if you are bringing a family with you. As with any change, the relocation to London can be traumatic. Most importantly, budget carefully, your new salary may not be quite as generous as it at first seemed.