Salary vs Commuting 2
Discussion
Hi all,
I am in a quandary.
I am fortunate enough to have two job offers on the table at the moment, both doing roughly the same job.
One is with my current employer, a private healthcare group, paying £29300.
The second is for a large fund management firm, paying £36000.
The difference is, working for the hospital group, I get to work from home. Otherwise it's a commute into town (20 min walk to station followed by 40 mins into Liverpool Street (give or take) followed by 15-20 minute walk at the other end).
I know this topic has been discussed at length before (I read the previous topic cover-to-cover), but I'm not closer to making my mind up. Do I forego the salary increase (after expenses) and have a lie-in in the mornings or do I join the ranks of London commuters but earn a bit of extra cash? There are things I'd like to do with the extra money.
All opinions welcomed!
Peeved.
I am in a quandary.
I am fortunate enough to have two job offers on the table at the moment, both doing roughly the same job.
One is with my current employer, a private healthcare group, paying £29300.
The second is for a large fund management firm, paying £36000.
The difference is, working for the hospital group, I get to work from home. Otherwise it's a commute into town (20 min walk to station followed by 40 mins into Liverpool Street (give or take) followed by 15-20 minute walk at the other end).
I know this topic has been discussed at length before (I read the previous topic cover-to-cover), but I'm not closer to making my mind up. Do I forego the salary increase (after expenses) and have a lie-in in the mornings or do I join the ranks of London commuters but earn a bit of extra cash? There are things I'd like to do with the extra money.
All opinions welcomed!
Peeved.
I think the main question is it worth sacrificing quality of life for an extra £6000 a year (which part of will have to go towards the cost of commuting)?
Having done a similar commute in to central London, all be it only for a month, I think I would choose to stick with the current job.
One thing I would consider is whether the job in London has the potential for larger future earnings than the current job.
Having done a similar commute in to central London, all be it only for a month, I think I would choose to stick with the current job.
One thing I would consider is whether the job in London has the potential for larger future earnings than the current job.
It is difficult to say re: future earnings. The fund management firm, being in Financial Services, should pay handsomely in future. The downside is that I'd be going in at the bottom rung so to speak whereas with my current firm, I'd get to own my own little function within the business, which might yield far greater returns in the long run.
Just checked too, a 12-month season ticket from my station is £2880.
Just checked too, a 12-month season ticket from my station is £2880.
Work out what the salary increase amounts to after tax, then deduct the cost of:
- Commuting
- Buying / maintaining 'London standard' clothes, shoes and dry cleaning
- London-priced lunches, snacks, coffees, drinks after work etc
- Waterproofs, umbrellas, cabs etc for when it's pissing down
and I'll bet you'll find the salary increase doesn't amount to a whole lot.
Also factor in the hassle factor of commuting, plus I can bet that you'll be very unlikely to be working regular hours: £36k may not seem a lot to some people, but it's well beyond the point where exployers expect their pound of flesh.
- Commuting
- Buying / maintaining 'London standard' clothes, shoes and dry cleaning
- London-priced lunches, snacks, coffees, drinks after work etc
- Waterproofs, umbrellas, cabs etc for when it's pissing down
and I'll bet you'll find the salary increase doesn't amount to a whole lot.
Also factor in the hassle factor of commuting, plus I can bet that you'll be very unlikely to be working regular hours: £36k may not seem a lot to some people, but it's well beyond the point where exployers expect their pound of flesh.
Peeved said:
Hi all,
I am in a quandary.
I am fortunate enough to have two job offers on the table at the moment, both doing roughly the same job.
One is with my current employer, a private healthcare group, paying £29300.
The second is for a large fund management firm, paying £36000.
The difference is, working for the hospital group, I get to work from home. Otherwise it's a commute into town (20 min walk to station followed by 40 mins into Liverpool Street (give or take) followed by 15-20 minute walk at the other end).
I know this topic has been discussed at length before (I read the previous topic cover-to-cover), but I'm not closer to making my mind up. Do I forego the salary increase (after expenses) and have a lie-in in the mornings or do I join the ranks of London commuters but earn a bit of extra cash? There are things I'd like to do with the extra money.
All opinions welcomed!
Peeved.
Peeved, how old are you?I am in a quandary.
I am fortunate enough to have two job offers on the table at the moment, both doing roughly the same job.
One is with my current employer, a private healthcare group, paying £29300.
The second is for a large fund management firm, paying £36000.
The difference is, working for the hospital group, I get to work from home. Otherwise it's a commute into town (20 min walk to station followed by 40 mins into Liverpool Street (give or take) followed by 15-20 minute walk at the other end).
I know this topic has been discussed at length before (I read the previous topic cover-to-cover), but I'm not closer to making my mind up. Do I forego the salary increase (after expenses) and have a lie-in in the mornings or do I join the ranks of London commuters but earn a bit of extra cash? There are things I'd like to do with the extra money.
All opinions welcomed!
Peeved.
The social aspect of working in London beats working from home IHO
I think the only reason to move would be for greater career opportunity, or the social aspect which depends on your personal situation (work colleagues, lunchtimes, drinks after work etc.). The London job would suit someone who is free and single more than someone who is married with kids etc.
Peeved said:
It is difficult to say re: future earnings. The fund management firm, being in Financial Services, should pay handsomely in future. The downside is that I'd be going in at the bottom rung so to speak whereas with my current firm, I'd get to own my own little function within the business, which might yield far greater returns in the long run.
Just checked too, a 12-month season ticket from my station is £2880.
A bigger salary and expenses will mean you pay more tax overall - a bad thing.Just checked too, a 12-month season ticket from my station is £2880.
However if you don't want to get raped by the railways I reckon you should get a scooter and drive in on that
Sorry I have no idea which job you should take. You could always try taking both, redirect your home phone to your mobile and 'work' from home in the evenings to catch up - do it for a couple of months and then ditch the job you like the least.
Personally an hour each way that I could spend at home for a not that big an increase in take home pay would be far more valuable to me - so I would stick with the current job.
There are some people that have no problems chewing up commuting time for salary opportunities but I am not one of them.
There are some people that have no problems chewing up commuting time for salary opportunities but I am not one of them.
Marf said:
So basically £6k extra before tax, taking season ticket and expenses of working in london out of your net income, and adding 2.5hrs or more on your day.
Nah, stay where you are.
Im of the same opinion,its worth £6k a year just to not have to stand on trains every day with people who dont wash and stink or spend time sealed in a tube train breathing each others germs.Nah, stay where you are.
Besides the fact that on average you will be commuting about 12-15 hours a week,take away the extra tax and travelling costs you`ll be about tuppence a week better off.
Let alone spending your day in London,breathing in s
tty fumes constantly.seagrey said:
Im of the same opinion,its worth £6k a year just to not have to stand on trains every day with people who dont wash and stink or spend time sealed in a tube train breathing each others germs.
Besides the fact that on average you will be commuting about 12-15 hours a week,take away the extra tax and travelling costs you`ll be about tuppence a week better off.
Let alone spending your day in London,breathing in stty fumes constantly.
Agree with thisBesides the fact that on average you will be commuting about 12-15 hours a week,take away the extra tax and travelling costs you`ll be about tuppence a week better off.
Let alone spending your day in London,breathing in s
tty fumes constantly.However, if there is a chance the 36k can be 80k in a few years then I would commute
Surely it has more to do with your long-term objectives and less about the financial sum?
Which one will offer you the better prospects, which one do you feel is more right for you in terms of career, both currently and long-term and also how you 'fit' with the company/team?
There are pros and cons with each that you can argue till the pigs fly but only you can answer your gut feelings on it.
P.S. I turned down two jobs last year, one based on location (which resulted in an offer of home working on a freelance basis which I did for 6 months) and the other they created a role just for me, I am still there. Try and work out what your personal priorites are before you consider the commute and salary aspect - you will probably find the answer.
Which one will offer you the better prospects, which one do you feel is more right for you in terms of career, both currently and long-term and also how you 'fit' with the company/team?
There are pros and cons with each that you can argue till the pigs fly but only you can answer your gut feelings on it.
P.S. I turned down two jobs last year, one based on location (which resulted in an offer of home working on a freelance basis which I did for 6 months) and the other they created a role just for me, I am still there. Try and work out what your personal priorites are before you consider the commute and salary aspect - you will probably find the answer.
coyft said:
Looking purely at the numbers, you'll nett an additional £4600 p.a. minus (£2800) cost of travel = £1800.
Assuming you work 5 days per week, get 25 days paid holiday plus 8 bank holidays you will be commuting for 230 days. The journey takes 1 hour and 15 minutes each way. 2 and half hours a day, or 575 hours per year. You'll receive £1800 for the time spent traveling or £3.13 per hour.
Think long termAssuming you work 5 days per week, get 25 days paid holiday plus 8 bank holidays you will be commuting for 230 days. The journey takes 1 hour and 15 minutes each way. 2 and half hours a day, or 575 hours per year. You'll receive £1800 for the time spent traveling or £3.13 per hour.
Mojooo said:
Stress and hassle of commuting as well as losing 2-3 hours a day of personal time?
Or were you thinking of something else?
Yes, if there is opportunity to make that 36k double soon-ish I would say it is worth it unless OP has other plans (waiting on massive inheritance or someone who's life is happy without lots of wonga) or severe hate of commutingOr were you thinking of something else?
Fund management is likely to end up with a fair amount of working from home, certainly most of our people do. Plus many more people in fund management earn huge salaries than in private healthcare.
Fund management will probably also open up more wider opportunities including overseas working, investment analysis etc.
To put it simply, in proper fund management you can rival senior bankers salaries without being quite so hated. Lots of private equity companies and lost of funds = lots of opportunities.
As others have said think long term
Fund management will probably also open up more wider opportunities including overseas working, investment analysis etc.
To put it simply, in proper fund management you can rival senior bankers salaries without being quite so hated. Lots of private equity companies and lost of funds = lots of opportunities.
As others have said think long term
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