15k-18k in London. Is it good enough?

Russe11

basic studios in islington would be 6-700 a month. Nicer house shares and 1 bed flats would be 7-900.

18k a year thats...50-75% of your income on rent
15k 55-85%

maybe possible very short term, but sustainable mid to long term?, not in my opinion.

euronorris

As your first job, as a graduate, I'd take it. It is just about liveable on (though house share needed as others have said), and it's the experience you are after here.

1 or 2 years there, gaining knowledge and working experience and you can either go for promotion (if possible) or look for a job elsewhere. With the experience behind you then, you should be able to get something at 20k or more.

That is what I did, albeit I was living with the folks in Kent (so costs were a lot lower), and my first London wage was only 12k! I wasn't a graduate though, and I still managed to work my way up to 24k before I left in early 2009 (incidentally, I am good friends with the girl who took over my role in the London office. She was a graduate, with work experience but not specific to the industry, and she started in the role at 24k simply because she had the degree and some working history behind her), and now on over 30k here. But without the experience, there is no way I would've gotten to this salary.

euronorris

isaac12345 wrote: »

How's Islington?

Most likely, way out of your price range. Even with a flat share.

midnight_express

The job sounds like a great oportunity. However, the money is rubbish. £15k is what I was earning in London 20 years ago and it wasn't a fortune then. You might just be able to survive on this amount, but you won't be living. Lots of people in London earn low wages but they manage by living with parents or having a highly paid partner or having two jobs or getting breeder benefits or living an very overcrowded housing.

Mischa8

I know it's your first job and money must be tight.

I would be thinking of your attitude to money. If you have a tendency to overspend/go overdrawn then factor this in every month and have a bank account with the best deal.

OR what some people do, you could always get a part time job evenings/weekends so you *up your income*. Even better get a cash in hand job so you don't need to declare as taxable.

I am sort of in a similar position, went from a £32K job to a series of contract jobs approx £25K and retrained whilst doing that. Now work as Legal Secretary. However when I went into new job I pitched slightly lower than what was being offered so now £20K but no pay rise in 2 years. I'm lucky as can absorb costs. also now work in Wimbledon (Zones 2/3) but save approx £50 per month on fares compared to when I worked in London.

I also don't have many outgoings as live with partner and he pays mortgage, I pay bills etc. We do have to *watch our wallets* but luckily I have managed to consolidate credit cards etc and reduce overdraft massively (hardly use it at all) and also be careful about socialising/Starbucks etc.

Islington is really expensive - Hackney is better in terms of cost. If you really want to save then go further out (as others have said) and add the time to your commute. It doesn't have to be forever living there, a friend of mine recently moved from Docklands to Deptford - Deptford not as nice but great transport links.

and like everyone said - deals are available on here, lots of tips on boards for frugal living and making the most of things. I recently started making my own *Feta Cheese/Dried Tomato/Salad Leaves Pasta Salad (similar to M&S one for £2.99) - no idea what I save but can make more and am sure I am saving. also homemade soup, made from roast chicken carcass etc, bring to work in flask. make your own rolls/bread etc. and don't forget flasks for tea/coffee if you have to have it on way to work, as opposed to Starbucks etc.

anyway I've gone on a bit but good luck. It *can* be done.

Mischa8

midnight_express wrote: »

The job sounds like a great oportunity. However, the money is rubbish. £15k is what I was earning in London 20 years ago and it wasn't a fortune then. You might just be able to survive on this amount, but you won't be living. Lots of people in London earn low wages but they manage by living with parents or having a highly paid partner or having two jobs or getting breeder benefits or living an very overcrowded housing.

Ha - you have just reiterated (probably didn't read your post) what I've posted. I mean he can live but certainly not in Islington and you really have to watch your outgoings.

I know a receptionist for a large City bank on £14K a year, she's bought a shared ownership flat but in deepest Essex, that was with inheritance for deposit. even then, it is still a struggle for her now, owning a place by herself. she makes spreadsheets to work out her outgoings but I know she struggles and I think does things around Essex. she's known as *Ten Pound T**** as she gets clothes from cheapie £10 shops.

Even on £5K more and me working in Wimbledon and living 40 minute train ride away it is still a struggle and I live with someone who covers mortgage! I mean we can afford to do stuff but I can't just throw money away like i used to do!!!

life eh?!

Lizling

isaac12345 wrote: »

For food, I usually shop at farmer's markets.

I don't think you're going to be able to keep doing that on those wages! Or if you do find a London farmers' market that isn't extortionate, please post where:D Normal markets, the ethnic supermarkets, basics/value/ smartprice and yellow stickered stuff is what you're going to need.

persa

Mischa8 wrote: »

Even better get a cash in hand job so you don't need to declare as taxable.

[sarcasm]Ah, tax evasion. Fabulous advice.[/sarcasm] It's only very illegal.

Top tip: if you are employed full time and need to steal to support your lifestyle, consider spending less rather than stealing more.

As I've said, the OP will be able to afford London on the salary mentioned, but only if they make some compromises, particularly with housing. Some of your comments were helpful, but encouraging illegal activity really is not.

onlyroz

It can certainly be done. I was a student in London and lived on peanuts in various parts of south-west London for a number of years. You'll have to flat-share, and it's better if you can avoid transport costs by (e.g.) cycling, and you'll be living on beans and pasta - but if it's a good opportunity then I'd go for it.

porlock

Another voice here who has done just this. I took a gamble on £12k P/A job, and managed to double that salary in 18 months. I was living frugally in a flatshare, but I managed.

Islington is a more expensive place to live, but there's loads to do (bars, restaurant, theatre, cinema, club, gigs, comedy etc) nearby and if it means you can walk/cycle to work too, then you can offset that against a year's Tube pass.

My personal feeling about London is, rent aside, it is just as manageable as anywhere else. Transport costs, but it gets you anywhere any time, so no need for a car, no need for taxis to/from a night out. It's easier to feel skint, but there's a hell of a lot more free stuff to do when you are!