Its not a misconception, its the truth! It is very well publicised that this is one of the reasons why London firms have to pay more; the same reason you get more student loan in London!
My first seat salary is 21k. (in fact it will be a bit higher by the time I start, this was the starting rate when I applied) 18k is a low example to be honest; I looked the probably 25 - 30 firms, 90% of which were in the north, and not one paid less than 20k.
So you claim you earn 11k more than if you would if you were earning at my firm.
But for an excellent quality flatshare in Sheffield, you will pay 240 a month.
So thats an extra 6720 you pay on rent alone, leaving 4280 extra a year.
And having 3 friends who live and work in London, and who are literally amazed by the cheaper nights out up here compared to London when they come and visit, I find it very difficult to believe that you spend no more on taxis, entry to clubs and don't have to pay higher prices for your drinks than you did in Newcastle.
So really, you're not that much better off in London financially, if at all realistically.
I am not slagging off London per se, because I would have no problem with going to do one seat there just for the experience, but it is just plain wrong to describe London as being not "that much more expensive"!!!
