Deciding between local job at 60K or London job at 90K

mwt_2

Hi All, I have recently been offered a new role in the City at 90K. I'm currently on 60K but my main place of work is only a 15 minute drive from home. For the new role I will need to communte in to London which will take me up to 3 hours a day (there and back) BUT I will only need to do it up to 3 days a week. Both roles include an element of adhoc travel to customer site with expenses paid etc.


For me, even with the cost of travelling to London included, financially the new role seems like a no-brainer, do you agree? With the sort of work I do 99% of jobs available to me are in London, the current role was unique in that sense, but the growth is limited i.e. I've essentially maxed it out.

ReadingTim

The salary uplift will allow you to get a larger mortgage, meaning you could move nearer London, reducing your commuting time.

Furthermore, if the majority of job in what you do are there, the question is really only when, not if, you move jobs to London...

Sea_Shell

In my opinion, it comes down to how much you value your own time. Only you can weigh that up.

Are you comfortable on your current salary?

What will your "net" salary gain be, after tax, travel costs etc?

MEM62

It is a simple case of deciding whether to trade off some lifestyle to chase the dollar. It can only be your call.

getmore4less

If commitments allow and it is only 3 days a week there, is there the option to overnight(stay late go in early) if hotel nearby to reduce the travel and move some to more convenient times.

Also London jobs can come with the odd after work social before going home making the overnight option work even better.

mwt_2

I worked out the net gain will be about 12K. I agree it's absolutely a case of when rather than if, which is why I feel like I should be making the jump on my terms.



I'm still in my early 30s, so I was thinking maximise my income while I can for the next 10 or so years, knock massive chunks off the mortgage or even pay it off completely if possible.

getmore4less

Would you be leaving on good terms that would allow you to come back at some point in the future when you want to improve the lifestyle balance.

Could you increase your value to the company by gaining experience elsewhere

mwt_2

If the current company is still around in 5 or so years, maybe a return could be on the cards. I think that's quite a big if though, there's a good chance they will sell up in 5-10 years time.

getmore4less

If the exit strategy for the owners is a buyout do you need to assess the value of staying, shares, options etc?

gettingready

Take the London job and rent a room in London for 2-3 nights per week - will be cheaper than a hotel or commuting

motorguy

I assume you've factored in commuting costs.

Personally - i hate London. I wouldnt want to work in it. Sometimes have to go in for meetings, but not often thankfully.

Up to you though - some people love it and embrace it.