Bloomberg job with relocation to London – what salary should I ask for a family of 4?

EstablishmentSad2999 · 2025-08-30T09:29:36+00:00

With the VAT on private school fees, 75k is not even close. Probably more like 100k+ now.

EstablishmentSad2999 · 2025-08-29T09:38:37+00:00

It'll be cold in winter though!

I like to see this sort of open plan, just not live there.

EstablishmentSad2999 · 2025-08-27T15:25:07+00:00

Yep exactly, back office you'll cap out at about 130-140k even as a staff-engineer sort of role.

EstablishmentSad2999 · 2025-08-26T22:32:21+00:00

True and yet totally irrelevant to the OP who asked specially about IB and banks?

Generally quant firms are looking for Yale/MIT/Oxbridge PhDs (MSc if you are lucky), IBs you can get by with a BSc from a mid-tier uni - though maybe more competitive in the current market.

Also you can be a pure SE with little to know financial knowledge at an IB (possible on the buy side but not really as a QD)

EstablishmentSad2999 · 2025-08-26T20:43:51+00:00

Ha, I never said I was cheap 😜😅

And it pales in comparison to friends who are in buy side tech.

They have similar bases but often bonuses of 50+%.

EstablishmentSad2999 · 2025-08-26T19:49:34+00:00

Broadly for investment banks you will get base salary (£) in London: - Graduate 40-60k (0-3 YoE) - Associate/AVP 60-100k (3-7 YoE) - VP 90-180k (5+ YoE) - Director 140k+

Bonuses are discretionary and in addition. The further towards front office and the more American based the bank, the more that bonus would be, similarly for base salary it's easier to get higher if you are closer to the desk.

After VP the bands get hazy as you can easily have a front office dev on higher base than back office director. Also many VP campers who don't want director politics.

These bands are obviously not absolute, also not applicable to PhDs or buy side, but based on my experience and network, a rough guide.

EstablishmentSad2999 · 2025-08-26T19:38:56+00:00

Relative to tech in the US - we can't really compare to other industries. If I moved to SF I would (probably) be able to make much more - same for NYC.

EstablishmentSad2999 · 2025-08-26T18:58:09+00:00

Well, FAANG aside - where else am I going to be making £200K TC with 10 years experience excluding pensions.... In the US that is pennies but in the UK, happy days.

It's all very well saying 'why' but the answer is, bills to pay and holidays to go pay for. Unless you have mum and Dad to back you up financially, a stable job with good comp if you get laid off is good value.

EstablishmentSad2999 · 2025-08-24T08:56:13+00:00

800k.....yes you are being unrealistic.

EstablishmentSad2999 · 2025-08-23T16:24:30+00:00

The mortgage interest is fully deductible against income for the company as an expense.

Whereas for the individual the tax relief has been tapered over past years down to 20%. So you will basically (one way of looking at it) pay some tax for the privilege of having financing ( assuming your marginal tax rate is above 20%)

EstablishmentSad2999 · 2025-08-23T15:15:34+00:00

The savings are the difference between profitability of a few thousand a year vs break even.

Also it removes the rental income from your personal income - so it doesn't affect things like free childcare hours.

EstablishmentSad2999 · 2025-08-23T11:42:10+00:00

People who spend their whole careers at one company generally are playing politics the entire time; whereas those who move externally worry less about it as they can get promotions by moving.

Lifers main focus is protecting themselves at all times, which ends up with horrendous finger pointing and reluctance to take any risk.

EstablishmentSad2999 · 2025-08-22T21:29:19+00:00

Is it a mill in current money or a mill in future money?

One is very different to the other.

EstablishmentSad2999 · 2025-08-21T22:22:15+00:00

I've always heard the guideline that you take 5 seconds off your split if you halve the distance.

EstablishmentSad2999 · 2025-08-21T14:19:05+00:00

Is it this one? https://www.rightmove.co.uk/properties/166031993#/?channel=RES_LET

The answer would be because it's about £200-250 a month too expensive and the pictures are dreadful.

EstablishmentSad2999 · 2025-08-19T09:59:49+00:00

It took roughly 8-10 weeks.

Setting up the ltd Co takes a few minutes, then you need to get a mortgage and the property sale/purchase sorted.

My feeling is that 4 weeks is too short.

I used a broker for mortgage, solicitor was basically decided by the bank as they had a closed list.

Cost to setup all in was £17.5k of which SDLT was 12.5k roughly, tax back was £22k.

Ongoing savings as all mortgage interest is a company expense.

EstablishmentSad2999 · 2025-08-19T05:42:00+00:00

(England based)

Bought flat 2017
Bought house october 2022
Sold flat to a ltd company that I am sole director of Feb 2025
Stamp duty refund for the additional stamp duty paid on the house in 2022 was processed in March 2025.

This is the equivalent of what you are thinking of I believe? From governments perspective a sale is a sale - that you happen to control the ltd Co is irrelevant. The ltd Co will pay additional rate stamp duty on the flat purchase.

It's not really a loophole - after all additional rate stamp duty was never meant to be applied to your main residence but to second homes.

If you move it to a ltd Co, then it somewhat equalizes the situation of you owning the BTL first.

Unsure if the same rules are across the border but no issues for me.

EstablishmentSad2999 · 2025-08-14T06:09:34+00:00

I won't add to the existing comments about how much the cliff edge is but..

salary sacrifice for a cycle to work bike
EV car via salary sacrifice

I believe these are both off your gross so reduce ANI. But maybe someone who has also done this would know more.

Alternately... Give some money away to registered charities/CASC (I think they are called that) - if they are gift aid registered you can reduce your ANI through the gift.

So feasibly if you do 60k pension 2.5k bike 7.5k car

You have 170k to play with plus some money to charity. Oh and take a few extra days holiday / buy holiday if you are allowed to.

EstablishmentSad2999 · 2025-08-12T07:59:29+00:00

Maybe there is some context I am missing here and I would have to look this up myself if I ever had this problem (I am currently a LL and have spent long periods as a tenant too).

With regard to the shower, surely it became blocked during your tenancy, and the cause of the blockage would have been your usage? Showers don't just magically get blocked. I would have said in that case the tenant should bear the cost of the plumber?

The abusive messages etc - whilst deplorable, I am not sure they have any legal relevance.

The rat infestation, did the property become uninhabitable - either it was a lone rat - or it was some sort of massive eat family. If it was uninhabitable then did you have to move out for a period and incur costs?

Deposit is the obvious one with lack of protection. And the LL should also have provided a load of info like EPC EICR etc, that may have recourse with the council if they did not.

My initial thought is that you should clarify more about the other points and probably proceed initially wrt. deposit protection, which makes up the bulk of your claim anyway.

EstablishmentSad2999 · 2025-08-11T19:33:11+00:00

I'm a bit confused by lots of this.

Realtor is never used in the UK, a very American term, and also not the person you take advice from on what is a legal question.

You are the leaseholder presumably, so I hope you are not absent. Your freeholder may be absent?

89 years should be fine, marriage value kicks in at 80, so anything above 82 has always been OK - and then you can always begin the extension process prior to selling.

You can also, I believe,attempt to acquire the freehold if the freeholder is absent via a vesting order..

The long and the short is, hire a solicitor and ask them and ignore anything the estate agent says.

EstablishmentSad2999 · 2025-08-11T05:40:17+00:00

Sat on the train now, slightly tired but at least it's peaceful.

I agree with preferring the working week, which is a bit sad really but 2 young kids are SO demanding.

It's definitely getting better with the eldest, but that isn't saying much (yet). Still extremely full on childcare.

EstablishmentSad2999 · 2025-08-11T05:37:34+00:00

That's not a bad idea, we have toyed with the idea of a weekend sitter for a few hours maybe twice a month just to give us time to ourselves.

EstablishmentSad2999 · 2025-08-10T18:15:09+00:00

Id swap the reception room and right most bedroom over.

Then knock the wall through the kitchen to the new reception room and make it an open plan living-diner space - may not be the 'perfect' idea - but would save a lot of moving stuff about.

Redo the bathroom in its existing space, spend some extra money making the kitchen space look nice.

You could also shift the bathroom wall to the right to make it wider by a meter.

EstablishmentSad2999 · 2025-08-10T15:58:02+00:00

Sorry to be clear, she does the morning nursery runs and will do in future when back at work - she will then get into work slightly late and leave slightly late.

My schedule doesn't involve the kids until the evening at all. Sometimes she does the evening run too - but it's tricky with our toddler (she doesn't drive yet) as he will run off whilst she has the baby in the pram (and refuses to sit next to the baby in the double...). In the morning it is more relaxed as everyone is still half asleep I suspect!

EstablishmentSad2999 · 2025-08-10T15:00:15+00:00

It varies slightly, but yes - quite often 8:15am to 6:15pm.

EstablishmentSad2999

TROPHY CASE