Let's say I was living in London for 2-3 months, starting in a couple weeks

[Asher]

That is one scary attendee list.

[Kinjiru]

Since you won't be paying for your lodging, your only real expenses are going to be transportation and food. If your location allows for easy access to the underground, your expenses for transport will be negligible. Cabs are horrifically expensive, so you may need to rent a car (though parking in london won't be easy and likely won't be cheap - but your firm may subsidize that anyway). Food expenses are basically under your control, but on the whole will be 20-50% more than you are used to.

Skype for phone calls means $3.00/month for phone expenses.

If you can arrange an increase of say $35-$45 per day, you should be just fine, assuming you don't need to worry about a car.

[Asher]

Originally posted by Dauphin

Firstly, what do you expect to be spending most of your money on that isn't going to be completely covered by the company? (e.g is gas/electric/water covered in the rent)

Probably mostly just food. I don't need to be buying much else.

Secondly, where will you be based compared to where you will live and go out? Travel can be expensive.

I don't know the details yet. Work will be Canary Wharf.

[Zealot]

I can't help you with the percentage you should ask if I don't know how much you have and how much you'll be offered. It would be *really* helpful if you hinted how much you'd be getting, and if that would be gross or net, and if the taxes would all go to the British government or if you'd still get paid in Canadian Dollars in your bank account back home.

If they're giving you a home to stay then you're very likely to be quite better off; rent in London is one of its biggest issues. Still, I've already been told by a colleague who used to live in New York before moving to London that everything in NY was way cheaper.
Thus the need to know about how much you'll be making, more or less.

Do you smoke? Do you drink much? Do you feel the need to go out partying in a club? Or do you prefer to stay at home most of the times?
If you're the party guy, you're likely to ruin yourself, even if having a blast.
If you're the saving type of guy, who, although social, doesn't mind to spend a weekend at home every now and then, then you may even consider to stay in London for quite a few years and get quite a fair bit of wealth faster than you though of.

If you're going to have to pay taxes to the British government, use this website to calculate the net salary:

http://www.listentotaxman.com/

I think that, if you're not paying rent, you'd still be laughing at your luck if you get paid £1250 gross/month! Those who live in London and have rent to pay (and electricity, gas, water, tv license and council tax) would struggle with that salary though.
I think the average of the city is £23000 gross/year.

Anyway, you're very likely to be better off by coming over.

[Dauphin]

Canary Wharf is zone 2 - travelcards cost around £90 a month. Delights of the Jubilee line or DLR await you. You can see Drogue on a daily basis too.

[Dauphin]

Originally posted by Zealot
I think the average of the city is £23000 gross/year.

It's a lot more than that.

[Zealot]

Originally posted by Dauphin
Canary Wharf is zone 2 - travelcards cost around £90 a month. Delights of the Jubilee line or DLR await you. You can see Drogue on a daily basis too.

Canary Warf is very well located. It's like the London Wall Street, you're likely to strike gold man, Investment Banks there pay really well.

Now we need to know where you live.
As soon as you know that go to http://www.tfl.gov.uk/ and plan your journey from where you live to Canary Warf.

[Zealot]

Originally posted by Dauphin


It's a lot more than that.

I don't know, don't really think so. With all those people outsourced (cleaners, receptionists, caterers, technicians here and there) who are on a lower income than the white collar people, it's quite likely.

[Dauphin]

Originally posted by Zealot


Canary Warf is very well located. It's like the London Wall Street, you're likely to strike gold man, Investment Banks there pay really well.

I prefer working in the City.

[Dauphin]

Originally posted by Zealot

I don't know, don't really think so. With all those people outsourced (cleaners, receptionists, caterers, technicians here and there) who are on a lower income than the white collar people, it's quite likely.

Even with them, it really is a lot higher. The national average is more than £23,000 for example, so the City (or even the city) is going to be a lot lot more.

[Theben]

Originally posted by Imran Siddiqui
Don't forget to visit the Sears Tower

And don;t forget to try the pizza. As Imran would agree, it's the best in the world.

[Asher]

Originally posted by Zealot
I can't help you with the percentage you should ask if I don't know how much you have and how much you'll be offered. It would be *really* helpful if you hinted how much you'd be getting, and if that would be gross or net, and if the taxes would all go to the British government or if you'd still get paid in Canadian Dollars in your bank account back home.

I'll still be paid in Canadian dollars to my Canadian bank with Canadian taxes.

Do you smoke?

Never

Do you drink much?

Maybe a couple times a month I'll have a glass of wine or a beer or some scotch.

Do you feel the need to go out partying in a club?

No

Or do you prefer to stay at home most of the times?
If you're the party guy, you're likely to ruin yourself, even if having a blast.

Not a party guy.

I think the average of the city is £23000 gross/year.

Anyway, you're very likely to be better off by coming over.

Sounds like it!

[Asher]

Originally posted by Zealot

Canary Warf is very well located. It's like the London Wall Street, you're likely to strike gold man, Investment Banks there pay really well.

They pay my company and my company pays me. We do most of our business with investment banks.

Prior to this I worked for a big Wall St bank, but when I visited there I just flew down for the week (it's a 1hr flight).

[Zealot]

Originally posted by Asher

They pay my company and my company pays me. We do most of our business with investment banks.

Prior to this I worked for a big Wall St bank, but when I visited there I just flew down for the week (it's a 1hr flight).

It's likely that your salary isn't all spectacular because you're being invited to come over to be cheaper than hiring a brit or someone living here already.
Still, I bet that after those 2-3 months you may be invited to stay, and if not, it may be worthwhile for you to stay here for a few years cashing in. As soon as you can have in your CV that you worked for an Investment Bank in Canary Warf, you're bound to be contacted for other IBs. My problem is that I've never worked for one and they all ask previous experience in an IB. And that's where the money is, in Investment Banks.

If after a couple of weeks you like it here, start looking for your future:

http://www.totaljobs.com/

[LordShiva]

Don't think of this opportunity in terms of teh marginal monetary benefit. View it more as a low-risk way to experience a new place, gain a different kind of work experience, and earn a valuable bullet point for your resume.