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Moving out on a graduate program salary

Hey,
So I want to move out of home soon. I live in London with my parents but I want some independence and freedom. I recently got an offer for a grade scheme at a big 4, I assume the office will be in Canary Wharf. I’ll be getting paid around 27k, is it worth it to move out?

Update: I think it’s a actually 31k .
Thank you
(edited 1 year ago)
Reply 1
Avatar for Bk4753
Bk4753
15
Original post by Ineedajob89
Hey,
So I want to move out of home soon. I live in London with my parents but I want some independence and freedom. I recently got an offer for a grade scheme at EY, I assume the office will be in Canary Wharf. I’ll be getting paid around 27k, is it worth it to move out?

Thank you


On 27 k you're not saving much if you rent anywhere decent in ldn. so either you live in a sh**hole, multiperson flat (3+) or stay with your parents. God. How do big 4 get away with these salaries in london??
(edited 1 year ago)
Reply 2
Avatar for 0le
0le
21
I would stay at home for a while, unless living with your parents impacts your mental or physical health significantly.

Some reasons for may be:

•

You will save a lot of money (financial stability and independence)

•

You will be better able to focus on your job and learning about what it entails

•

You have a little bit more flexibility to change jobs (and location) and not worry about rents/contracts/bills should you not enjoy the new role



Original post by Bk4753
On 27 k you're not saving much if you rent anywhere decent in ldn. so either you live in a sh**hole, multiperson flat (3+) or stay with your parents. God. How do big 4 get away with these salaries in london??


That is a typical graduate salary in London. I myself have something similar for my job (not the big 4). Unfortunately it is a problem with the wider economy and society.
Original post by Ineedajob89
Hey,
So I want to move out of home soon. I live in London with my parents but I want some independence and freedom. I recently got an offer for a grade scheme at EY, I assume the office will be in Canary Wharf. I’ll be getting paid around 27k, is it worth it to move out?

Thank you


I would not live alone in London on £27k. I wouldn't even live alone outside of London and commute in on £27k.
You would struggle to live alone in London on that salary. I tried it and massively regretted it! If you’re happy with a flatshare, go for that. Otherwise, if you get along with your parents and they’re happy for you to live there, I’d save the rent money for a house deposit a few years down the line.
Reply 5
Avatar for Bk4753
Bk4753
15
Original post by 0le
I would stay at home for a while, unless living with your parents impacts your mental or physical health significantly.

Some reasons for may be:

•

You will save a lot of money (financial stability and independence)

•

You will be better able to focus on your job and learning about what it entails

•

You have a little bit more flexibility to change jobs (and location) and not worry about rents/contracts/bills should you not enjoy the new role





That is a typical graduate salary in London. I myself have something similar for my job (not the big 4). Unfortunately it is a problem with the wider economy and society.


Wasn't saying it's an atypical salary. Was just pointing out that it's not enough (by my standards) for a city as expensive as London.
Reply 6
Avatar for Bk4753
Bk4753
15
Original post by Blue_Cow
I would not live alone in London on £27k. I wouldn't even live alone outside of London and commute in on £27k.


I wouldn't even accept the salary unless I really liked the job
Reply 7
Avatar for hoimanc
hoimanc
5
Original post by Bk4753
On 27 k you're not saving much if you rent anywhere decent in ldn. so either you live in a sh**hole, multiperson flat (3+) or stay with your parents. God. How do big 4 get away with these salaries in london??


Middle to back office jobs are 31k unfortunately. Only consultants or ACA qualified accountants make more.

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