London equivalent salary

sultan123

If someone is earning 70k in the north (e.g. leeds, manchester etc) what would that be equivalent to in London considering livings costs there vs north.

Grumpy_chap

So many variables and so little context it is very hard for anyone to answer such a broad question.  

Edi81

70k in London is still a good salary.

sultan123

Grumpy_chap said:

So many variables and so little context it is very hard for anyone to answer such a broad question.  

What further context is needed?

Trying to see if 70k is equivalent to say 90k in London

sultan123

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

sultan123

Anyone living in London? Would appreciate your views

Grumpy_chap

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Gosh - that is so amazingly out of touch!

sultan123 said:

Grumpy_chap said:

So many variables and so little context it is very hard for anyone to answer such a broad question.  

What further context is needed?

Trying to see if 70k is equivalent to say 90k in London

It might amaze you but "the north" is quite a massive place.  Also, London is quite a massive place.  
Are you comparing Altrincham, Knutsford or Wythenshawe against Edmonton, Hampstead or Nottinghill?

NMW is the same nationwide.

Car driver?
Commute time?
Access to green space?

What is the basis of the question, given you have a PAYE salary of £88k plus sole-trader income on top.  Once you define the issue, the simplest thing would be to share the parameters and your Accountant can quickly run some "what-ifs?"

https://forums.moneysavingexpert.com/discussion/6334450/net-salary-difference/p1

https://forums.moneysavingexpert.com/discussion/6345549/sole-trader-paying-wife/p1

This is a helpful forum, but just running hypothetical situations is difficult to do in a way that gives any meaningful outcome.

One process would be to compare Real Living Wage as some clever people have assessed a whole basket of factors to come up with £9.90 in the one place and circumstance that is "outside London" and £11.05 for the one place and circumstance that is "London".  A difference of just under 12% uplift for London.  Using that multiplier, £70k "outside London" equates to around £78k "London".

https://www.livingwage.org.uk/news/real-living-wage-increases-£9.90-uk-and-£11.05-london-cost-living-rises

Jillanddy

I don't know if this will help, but you couldn't pay me any amount to live in the South.

sultan123

Grumpy_chap said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Gosh - that is so amazingly out of touch!

sultan123 said:

Grumpy_chap said:

So many variables and so little context it is very hard for anyone to answer such a broad question.  

What further context is needed?

Trying to see if 70k is equivalent to say 90k in London

It might amaze you but "the north" is quite a massive place.  Also, London is quite a massive place.  
Are you comparing Altrincham, Knutsford or Wythenshawe against Edmonton, Hampstead or Nottinghill?

NMW is the same nationwide.

Car driver?
Commute time?
Access to green space?

What is the basis of the question, given you have a PAYE salary of £88k plus sole-trader income on top.  Once you define the issue, the simplest thing would be to share the parameters and your Accountant can quickly run some "what-ifs?"

https://forums.moneysavingexpert.com/discussion/6334450/net-salary-difference/p1

https://forums.moneysavingexpert.com/discussion/6345549/sole-trader-paying-wife/p1

This is a helpful forum, but just running hypothetical situations is difficult to do in a way that gives any meaningful outcome.

One process would be to compare Real Living Wage as some clever people have assessed a whole basket of factors to come up with £9.90 in the one place and circumstance that is "outside London" and £11.05 for the one place and circumstance that is "London".  A difference of just under 12% uplift for London.  Using that multiplier, £70k "outside London" equates to around £78k "London".

https://www.livingwage.org.uk/news/real-living-wage-increases-£9.90-uk-and-£11.05-london-cost-living-rises

I am just keen to understand cost of.living in london vs in north.

I thought 70k in north is equivalent to maybe 90k in London.

Interesting you say 70k is good salary in London but I don't see how it is enough if only 1 person is earning?

sultan123

Jillanddy said:

I don't know if this will help, but you couldn't pay me any amount to live in the South.

Why? Any particular reaons?

74jax

sultan123 said:

Grumpy_chap said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Gosh - that is so amazingly out of touch!

sultan123 said:

Grumpy_chap said:

So many variables and so little context it is very hard for anyone to answer such a broad question.  

What further context is needed?

Trying to see if 70k is equivalent to say 90k in London

It might amaze you but "the north" is quite a massive place.  Also, London is quite a massive place.  
Are you comparing Altrincham, Knutsford or Wythenshawe against Edmonton, Hampstead or Nottinghill?

NMW is the same nationwide.

Car driver?
Commute time?
Access to green space?

What is the basis of the question, given you have a PAYE salary of £88k plus sole-trader income on top.  Once you define the issue, the simplest thing would be to share the parameters and your Accountant can quickly run some "what-ifs?"

https://forums.moneysavingexpert.com/discussion/6334450/net-salary-difference/p1

https://forums.moneysavingexpert.com/discussion/6345549/sole-trader-paying-wife/p1

This is a helpful forum, but just running hypothetical situations is difficult to do in a way that gives any meaningful outcome.

One process would be to compare Real Living Wage as some clever people have assessed a whole basket of factors to come up with £9.90 in the one place and circumstance that is "outside London" and £11.05 for the one place and circumstance that is "London".  A difference of just under 12% uplift for London.  Using that multiplier, £70k "outside London" equates to around £78k "London".

https://www.livingwage.org.uk/news/real-living-wage-increases-£9.90-uk-and-£11.05-london-cost-living-rises

I am just keen to understand cost of.living in london vs in north.

I thought 70k in north is equivalent to maybe 90k in London.

Interesting you say 70k is good salary in London but I don't see how it is enough if only 1 person is earning?

Enough for what? 
What is it you actually want from this thread? 
I wouldn't live in London for any amount, but my reasons are not going to be the same as yours.
If you say what you want we can maybe help. If its just what ifs........ Then everyone's what ifs are different.