Feel Poor in London as a Credit Investor
Is it me or has the cost of living in London skyrocketed and is not keeping up with comp increases?
To give some context, latest 2023 total comp was ~£390k, I work for a credit alts shop focused on non-ig with ~9-10 years experience.
However, since 2019/20, my rent/bills has shot up +70-80%; dining out and drinks seems up massively, was looking at a bill from 2019, same thing today is up +50%; holidays and hobbies are up 30-40%. All in all, it seems that price inflation for me is up +50% on average since 2019/2020 and it felt like I had a better life when I made £180k-200k back then.
Anyone else feeling this or am I just crazy?
This seems to be the whole world.
Word
What are you saving? This doesn’t say much other than “I get paid well, but the world is expensive”
Middle class turned into butternut squash, have yachts and have nots
Do you have an expense breakdown? On 390k TC you can easily rent an okay one bed apartment in Central, use Uber Exec, fly business class etc with cash to spare
I do all that but still cannot save a meaningful amount, i.e £100k-150k cash.
I don’t mean to downplay what you feel, but
“Feeling poor” when you do 12x or more the median salary is a lifestyle issue or you need to downplay what you “feel”.
Most people will never save 100kGBP in their whole life.
In terms of solution, you can seek a salary adjustment which seeing how credit is doing, should be achievable and compensate for that. A 10% base increase should cover the all-in cost of living increase.
Anything < GBP 500k is serfdom.
Agree. £500k is the new £300k in London.
Real question is why are you still renting 10yrs into your finance career?
Have you seen London prices? Not seeing much value out there. Also, have a few expensive women on the go and then some bad personal investments. Maybe in my home country I’ll look to buy.
This post is a joke right? Or are you an immigrant who's used to lower cost of living, in which case I get where you're coming from
I earn 35k in London.
proof that smart people can be very stupid with money
I am dumb money riding the wave in a golden age
It is the high tax
Need to get the violin out for this guy
Update: I was feeling a little down so I went to see one of my sugarbabies to remind myself why I gotta do what I gotta do in this tough city..
I love this guy
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