Moving out on a graduate program salary

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username5986556
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#1
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#1
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
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Bk4753
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(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??
Last edited by Bk4753; 1 month ago
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0le
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#3
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.
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Blue_Cow
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(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.
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micholate9
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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.
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Bk4753
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(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.
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Bk4753
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(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
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hoimanc
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(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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