North South Sivide

I live in the North East of England and got ACCA qualified late last year. I am trying to figure out if I will be better off in London or the south east . My rent  for a 3 bedroomed council flat and council tax amount to £400 a month. The other major fixed cost is transport which costs me about £80 a month. I spend up to 70 minutes travelling to and from work everyday. My current salary is still below £20,000.
Will I be better off if I moved down south especially to the south east?

Comments

North South Divide

Anonymous | | Permalink

I have recently spent time in London. The transport is great there but I did spend £5 a day travelling. I would imagine that you need to be well outside the centre to get accommodation that is affordable which might be Zone 5 on the tube. You need to find out the going rate for your skills in London and I would think you would need another £5000 a year at least.

On the upside though London is a great city. I was offerred a job in Mayfair London with accommodation when I was 25. I wish I had taken it.

theaccountantscoach's picture

Think beyond salary

theaccountantscoach | | Permalink

I'm pretty sure you wouldn't be better off financially, even with a London 'weighting' to your salary.  Accomodation and travel costs and the generally higher cost of living will swiftly cancel out anything, but a substantial premium.  However, there are wider considerations. 

Depending on what you want to do, you might find more opportunity in the SE - on scale alone the sheer number of jobs will be much more than your current location.  This could mean wider experience and earlier responsbility which ultimately could lead to faster progression and higher earnings.  However, to do this you may have to take shorter term contracts as opposed to a permanent role.  It really depends on what you want to do.

I'd recommend some career planning.  If you email me off line, I'll send you my article 'Career by Design' which will help you figure out your preferences and priorities.  It will also encourage you to think holistically about your career, rather than getting too hung up on one (albeit crucial!) dimension like salary. 

 

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