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I'm considering relocating from NYC to London - currently earn ~$100,000/year. To have approximately the same lifestyle, how much will I need to earn annually in London?
$100,000 per year would rent you a very comfortable lifestyle, even in overpriced London, but not buy much. The thing that may be different to most large American cities, is the amount of social housing cheek-by-jowl with wealthier areas. So it is not so easy to buy your way out of crime and social problems. Personally I think that is a good thing, as a healthy society needs teachers and road sweepers as much as it need lawyers and doctors. As for how much £££ you need to live, that very much depends on what lifestyle expectations you have. Are you thinking Peckham or Chelsea?
It'll get you a comfortable lifesyle in London. However I suspect if you want to live centrally in a nice appartment and have the same lifestyle (eating out a lot etc) then you'll probably need to earn the same income but in pounds not dollars. Don't get me wrong though $100k (or about £54k) is well above the national UK wage of £28K ($54K).
Thanks all for your replies! To clarify response from richt71, to have approximately the same lifestyle, you feel I would need to earn 100,000 GBP? Or 50-60,000 GBP (or whatever the current conversion of $100,000 to pounds is)?
Thanks all for your replies! To clarify response from richt71, to have approximately the same lifestyle, you feel I would need to earn 100,000 GBP? Or 50-60,000 GBP (or whatever the current conversion of $100,000 to pounds is)?
The conversion amount at today's exchange rate is 61,000 pounds, which after taxes and everything would leave you with about 41,900 pounds. Use this website to calculate your tax and take home earnings http://listentotaxman.com/ . You will also need to take into account that the U.S. will tax you for earnings that are above $87,000, but there are tax credits and other things to minimise this.
Last edited by glxyman21; 10-23-2008 at 03:44 AM..
Thanks all for your replies! To clarify response from richt71, to have approximately the same lifestyle, you feel I would need to earn 100,000 GBP? Or 50-60,000 GBP (or whatever the current conversion of $100,000 to pounds is)?
Hi,
I was trying to say (sorry not very clearly obviously) that you can live well around London on that sort of money but bear in mind that London is one of they if not they most expensive cities to live. It depends on your lifestyle of course but eating out in London can be expensive as can a night out drinking. I know that $100K can go a long way in many parts of the US. Hope this makes more sense?
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