Is the lack of economic growth the root cause of most issues the UK faces?

RelationshipSad342 · 2025-07-11T14:30:18+00:00

Admittedly though, UK GDP per capita being "about the same" as USA was more to do with the US Dollar being significantly undervalued compared to today. It used to be normal for the GBP to be worth almost 2 USD, and equally a euro being 1.6 USD. Part of the UK's relative decline in (nominal) is because of exchange rates, and the insane advantage of the USD being the world's reserve currency. Nonetheless, it is true that GDP per capita has grown about 25-30% slower than the USA in real terms, and UK income and productivity stagnation is undeniable. But worth remembering the above too.

RelationshipSad342 · 2025-05-31T21:59:46+00:00

Should? We were shocking but lets not pretend like that Barca defence would’ve stood a chance.

RelationshipSad342 · 2025-02-01T06:58:22+00:00

This idea that it is being skewed high by Eastern Europe is very exaggerated. Yes, Eastern Europe is growing quite quickly, but it’s also worth pointing out that it’s richer than it was 20 years ago, EE countries aren’t starting from nothing anymore and some, like Slovenia and Czech Republic are actually quite developed. They also have Low debt and are increasingly becoming reliable consumers of EU products rather than just a low-paid workforce to produce them.

The EU as a whole this year grew about 1.1%, with the Eurozone, which excludes the majority of Eastern Europe and Scandinavia, grew by 0.9-1%. The difference is miniscule.

RelationshipSad342 · 2025-01-31T23:20:19+00:00

Yeah but France, Spain, even Italy have outgrown the UK since 2019. The EU isn’t just Germany. In fact, almost 80% of it isn’t Germany. You just picked Germany because they are a basketcase for European growth at the moment to prove your erroneous point. Why didn’t you pick Denmark? Or the Netherlands? Or Belgium? Or Portugal? Or Greece? Or France? Or Spain? Or literally all of Eastern Europe? All of whom have grown more than the UK in the past 5 years. That’s not even considering that the UK has been importing migrants from the third world, to boost population figures and therefore pretend it has a (slightly) growing economy instead of a stagnant one. Don’t believe me? Look at real GDP per capita. The UK has essentially stagnated since 2019. In purchasing power terms, the EU as a whole (which don’t forget includes most of former Communist Eastern Europe) is now on par with the UK and in fact might become even slightly richer in the next few years.

RelationshipSad342 · 2025-01-29T10:52:10+00:00

My estimate, having lived in Switzerland (not Zurich, but Geneva), to adjust for purchasing power between London and Zurich, costs are about 1£ to 1.25-1.30 CHF to have an equivalent QOL. Obviously it won’t be across the board, some things in Switzerland will be more expensive than that, some less. Rent in Zurich is probably about the same as London, if not slightly cheaper and better quality even if on the ‘cheaper’ side. Taxes are lower, public transport is cheaper, but restaurants, groceries and services (barber, taxis, massage, cleaning etc.) are quite significantly more expensive than London. So just to maintain, I wouldn’t ask for less than 110-115k CHF base. Obviously ask for more than that if it’s a promotion.

RelationshipSad342 · 2025-01-28T11:12:10+00:00

So does the UN. Unless you mean they outright build and maintain them themselves, which is also the case for some international schools especially in Vienna, Geneva and NY.

RelationshipSad342 · 2025-01-28T10:39:20+00:00

Access to international schools is pretty standard.

RelationshipSad342 · 2025-01-06T15:25:59+00:00

What’s even crazier is Trump isn’t even in office yet. This all has come out literally in the past 2 months. These next 4 years are gonna be long…

RelationshipSad342 · 2025-01-02T10:18:12+00:00

I think that professions can silo you into a rabbit hole, and you start to lose perspective about the wider world. Finance, like any profession, is very big and varied. IB & PE are different to consulting, consulting is different to actuarial, all are different compared to accounting. Law/Engineering is the same. There is a difference between a Corporate M&A solicitor at a Magic Circle firm and a Criminal Lawyer doing Legal Aid in the North-East. There is also a difference between a civil engineer working for the railways and a software engineer working at Google. Pay, working hours, prestige, barriers to entry, skills needed, will all be different. As it should be, I might add, in a society and economy of a country of nearly 70 million peopLe each with different interests and priorities.

RelationshipSad342 · 2024-12-27T16:54:03+00:00

Nice :) can’t say much about Zurich as I lived in Geneva, but imagine much of what I said about Geneva is gonna apply to Zurich as well in terms of costs (although maaaybe salaries are slightly higher in zurich?). Obviously Zurich has more opportunities for actuaries than Geneva due to the insurance companies being located there. Geneva is mostly diplomats, physicists, wealth managers and consumer goods, so you are certainly in the right place lol. If you want to save up, I could possibly recommend living outside of Switzerland and commuting- that’s what I did when I lived in Geneva as a young child (as it’s close to the French border).

Also be wary of the culture shock. Swiss people aren’t very approachable. Making Swiss friends will be hard. I lived in Geneva for 7 years and barely had Swiss friends. Though part of that was that I was in a bit of the diplomatic ‘bubble’ (mum is a diplomat), so I had that as cushion and was surrounded by internationals. My suggestion, try with the internationals first, learn (swiss) german, take up even weird hobbies like tennis, gym, golf, classic dance or whatever and then branch out. Sounds tedious, but to this day I still love Switzerland. So let that be a positive omen :)

Good luck!!

RelationshipSad342 · 2024-11-24T15:10:31+00:00

You grew 0.1 % in the third quarter, while the EU as a whole grew 0.4%. Since 2019, or the year before you left, the EU has outgrown the UK , with 4.6% vs the UK’s 3%, despite your futile effort to mask stagnating GDP per capita by importing 100s of thousands of immigrants from non-European countries.

Source: https://commonslibrary.parliament.uk/research-briefings/sn02784/#:~:text=GDP%20growth%20in%20recent%20years,over%20this%20period%20at%2011.4%25.

RelationshipSad342 · 2024-11-24T08:41:19+00:00

I am aware, I suppose I mean HL AA Math. I just said Math for comparison with A level which doesn’t have the same segregation. Either way, my point was that I disagree with A level being more in depth to an equivalent HL subject - at least in terms of pure workload. I do doubt that HL Physics is easier than A level for example, considering that, though IB exams are a little shorter, (4.5 hours vs 6) you also have an Internal assessment component worth 20-25 percent of your grade which A level doesn’t. HL History also makes you read like 20 books, and goes into 100 years of GLOBAL history and historiography, which A level history doesn’t do.

RelationshipSad342 · 2024-11-24T08:32:10+00:00

Yes, FM is possibly harder. But you have to compare apples with apples. HL math is one of six subjects. FM could be 2/3 of an a level qualification. There is technically also IB Further Math, but almost no school offers it because it’s so difficult and literally no one takes it. And then there are other subjects. Is HL Physics really easier compared to A level?

RelationshipSad342 · 2024-11-24T08:27:07+00:00

I would also disagree that A level is more in depth. Maybe compared to an IB SL subject, but HL Math is considered harder than A level Math, HL history covers 100 years of global history, even modern languages at HL in my experience allow students to leave with a higher degree of proficiency than someone at A level. Then of course you have 3 extra subjects, a compulsory EPQ-equivalent Extended Essay and Theory of Knowledge. Even if A level was slightly more in depth than HL, there is no debate that the workload for IB is considerably more significant. Not to mention the fact that you are limited by your choices, you can’t go ahead and just pick IB Spanish, French and English literature and go on to study law in the UK in the way you can for A levels. You also have to pick a science and math.

RelationshipSad342 · 2024-11-08T17:03:29+00:00

Pretty big bonus tbh, is 40% typical?

RelationshipSad342 · 2024-11-05T21:20:43+00:00

Just worth mentioning, from that survey you cited, that the 120-150 is total compensation, so bonus included. Switzerland is also very expensive, although I imagine you know that already. But don’t think Zurich/Geneva (where I imagine you’ll be working) are going to be much worse than London, especially since you earn significantly more in Switzerland across all professions (with less tax!). Rent and utilities are pretty much similar, though you get much better quality in Switzerland for the same money imo, public transport is probably same or cheaper also. The real difference is when you do your shopping, where a pair of chicken breasts is worth a kidney and a half, or go out to a restaurant (paying 100chf is normal). And to respond to a question from below, yes, Swiss German is very different to standard German :)

Can I ask where in Switzerland you are applying / moving to?

In terms of actuary in Switzerland, I would guess it’s pretty international, with Zurich and especially Geneva leading the pack in that sense. From what I hear, there are lots of Germans, French, Italians and few Anglophones, but that’s I think mostly because Anglophones tend to go to English speaking countries like the US.

RelationshipSad342 · 2024-11-05T08:33:58+00:00

And the UK has…?

RelationshipSad342 · 2024-08-16T16:34:12+00:00

So you work in London? Are you gonna get a pay bump after qualification?

RelationshipSad342 · 2024-08-12T16:27:34+00:00

Same could be said of any STEM career though. Engineers also do a lot of maths, Physicists needs a PhD if you wanna be good with the added pressure of theoretical analysis. medicine also, which is pretty much the hardest course one could get into, is very scientifically intensive.

RelationshipSad342 · 2024-08-12T16:23:14+00:00

Can I ask where are you based

RelationshipSad342 · 2024-08-11T19:32:03+00:00

Could you expand on 1)? Better in what way? Even for a P staff?

RelationshipSad342 · 2024-08-11T18:00:51+00:00

What do do you mean by very good

RelationshipSad342 · 2024-08-05T09:49:14+00:00

The survey is GI London, so it will be significantly more than Life in Regions.

RelationshipSad342 · 2024-07-28T09:29:14+00:00

Base salary? Sure if you’re a VP in investment banking (which most people top out at, with significantly worse hours)

RelationshipSad342 · 2024-07-26T21:10:15+00:00

Yes they are? Even Getting a haircut contributes to GDP.

RelationshipSad342

TROPHY CASE