Comment by TuringNYC
6 years ago
London is an expensive town, so I'm sorry to hear that.
But for others -- dont be too jealous, because a lot of that high salary is just a rent premium and ends up with landowners. Great if you are a landowner, but otherwise, you're mostly breaking even after taxes and rent unless the markets riso to make your stock grant in the money. (and well, if all the math is on stock anyway, you can work anywhere and just buy some options on FAANG and be done with it, which is what I do.)
There are cases where you can do well (e.g., live with 2+ roommates in a tiny apt like some friends do.) -- but then, it isn't a sustainable thing.
> because a lot of that high salary is just a rent premium and ends up with landowners.
And London has cheaper rent?
Right that point broke down pretty quickly. Rent in London is more expensive than most of the United States.
I found pay-salary ratio worked best in Toronto provided you don't expect to own a home in the city.
That is why the post started off with "London is an expensive town, so I'm sorry to hear that. But for others --"
Some cities are not rational. The best game to play when you have irrational rules is to not play. That is why the post was directed "To others: "
London and NYC are not rational cities. To some extent, also Vancouver. Some of these cities are places where foreign cash comes to be parked in, often empty, apartments. They raise prices for everyone and ruin market dynamics. SF/Bay Area is irrational in a sense because you are competing on a time spectrum -- a rational job for someone who purchased a house in 2004 is an irrational job for someone who needs to rent at 2019 rates.
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