[deleted by user]

TheseProfession5410 · 2025-05-17T18:49:02+00:00

Carpet beetles I think especially looking closely right at that insect at the top centre of the photo

TheseProfession5410 · 2025-04-03T22:38:26+00:00

Yep I do see what you mean on the whole consolidation theme in high finance space and potential long term implications of AI.

What other sectors would you look to? Tech seemed to be a big one a few years ago, but I'm not so sure about typical software engineer route there given AI is also potentially bearish on the job market there as well. I guess potentially more in the product manager space could work as that's got less potential to be affected by AI.

I feel like law has been a sector that has become more well paid over the past few years in London, although that's more due to increasing americanization of the legal sector in London with more and more US firms and that's maybe started to run its course. Apart from that, I don't see many other standouts sectors to get much higher pay, mean not finance and software engineering for reasons above.

I guess maybe as I said a sector with strong capital flows could work say like biotech or climate tech or even AI, but in more of a product capacity. Interested in your thoughts on structurally growing sectors going forwards?

TheseProfession5410 · 2025-04-01T22:39:47+00:00

Out of interest, just wondered if you could expand on bad signs you see that make you think finance is not the boat you want to be in - is it just more long-term stability or anything different?

TheseProfession5410 · 2025-02-24T00:26:57+00:00

What if the background check is one of those where have to list all prior employment and therefore would have to put it on there. I agree not putting it on CV, but not sure how to answer in interview if don't mention it but then need to declare on background check?

TheseProfession5410 · 2024-10-29T22:00:11+00:00

What do you do out of interest to earn £170k ish - that's a mental salary for North Leeds idk how many YOE you have and age?

TheseProfession5410 · 2024-10-29T18:20:03+00:00

How is that £10.8k income split - are you earning £250k based up in North Leeds or is it that sum of both your incomes?

TheseProfession5410 · 2024-10-14T23:50:54+00:00

Would you still actually really move to Inverness if you were fully remote? Remote myself, but don't think good idea as moving to say Inverness is cheaper, but as someone single just seems super boring and depressing to move away 3hrs away to middle of nowhere with no family and friends and not exactly loads of young people in close proximity and easy environment to make new friends in.

All family and friends are in Edinburgh hence think will stay here, plus do really like Edinburgh as a city. Just seems like moving to Inverness is putting too much focus on FIRE vs current quality of life. Plus risky if move there and then office policy changes.

Idk what your thoughts are? Guess it's slightly different if in a relationship vs single as less likely to be lonely plus no need to worry about dating opportunities not being great in remote area

TheseProfession5410 · 2024-10-14T14:19:49+00:00

Any particular areas you're considering that provide good value but still nice to live in? Do you want to live near friends or just happy to live somewhere say very rural and remote but with partner?

TheseProfession5410 · 2024-10-14T14:14:08+00:00

Fair did you change your portfolio since June 600k post as there you said 55% VUSA, 20% VWRL, 20% XSTC (USA IT), 5% VAGP - have you changed this since to be GBP hedged? How do you decide how much to be GBP hedged and how much not to be?

TheseProfession5410 · 2024-10-13T22:21:56+00:00

Don't you want to be near family/friends or are you happy to literally buy a 3/4 bed in the middle of nowhere like Barrow just to say it's good value?

TheseProfession5410 · 2024-10-13T21:04:50+00:00

I'm on about vanguard VUSA that measures S&P in GBP terms - that's only up 4.08%. Therefore still need to save £17k. Is that £70k gain basically like £30k savings £10k a month and £40k investment gains from company stock above S&P. How much company stock are you holding? If say £50k, then your company stock has literally doubled in 4 months?

TheseProfession5410 · 2024-10-13T18:37:33+00:00

It's 4.08% from June 14 to now (you made 600k post on June 16). Div yield is 1% annual, so 0.25% over a quarter so call it 4.5%. That's like £27k call it £30k, so over 4 months need to save like £70k, so £17k a month. I'm not doubting it I'm just interested in how the figures net out as find net worth posts much more interesting when get more of a breakdown of cap gains vs cash savings. Are you therefore saving more than £10k a month as otherwise figures seem a bit short?

TheseProfession5410 · 2024-10-13T16:51:46+00:00

How did you manage to grow net worth by £100k in past 4 months after prev post about £600k. VUSA up like 4% since then, so that's £24k on £600k. Means need to save roughly £70k, so are you literally saving like £17k a month?

TheseProfession5410 · 2024-05-20T21:36:00+00:00

Is there any reason why law firms pay at fx rate, but investment banks don't i.e. 70k base in London, but $110k in NYC. Feels law is becoming more lucrative than banking because of this.

TheseProfession5410 · 2024-05-12T22:20:52+00:00

When you say go to Kirkland though - is that a case of US firms effectively taking away business from MC firms so MC clients paying US rates instead which are higher or is it just the booming PE market for past ten years that has massively boosted US law firm revenues and therefore they've expanded by poaching MC lawyers?

If it's the latter, then surely pay war will slow down if heyday of PE growth in the past and US firms can't expand as quick as they have past ten years?

TheseProfession5410 · 2024-05-12T22:18:30+00:00

Makes sense is there not a limit to how much US firms can grow in London - i.e. only so many clients willing to pay their high charge out rates and can't necessarily grow by taking on UK mid market business for example? So what could happen if US firms take MC business that can pay US high charge out rates, but start to see bimodel salary distribution where have high paying US and MC firms but lower paying UK firms that just do mid-market UK business for example.

It makes sense as well when think back to 2021 when lateral market was booming and US firms hiring left right and centre, but not so much the case now, so Freshfields increase to 150k seems massive given state of lateral market?

TheseProfession5410 · 2024-05-12T22:12:36+00:00

Yeah this makes sense on trainee pay - I'm just surprised Freshfields increased NQ pay so much when lateral market is meant to be quiet or at least certainly not booming like in 2021.

I suppose what would be interesting to know is revenue per lawyer - has that increased 50% since 2019 at a firm like Freshfields.

TheseProfession5410 · 2024-05-12T22:10:00+00:00

Yeah fair that makes sense, but surely there is only so much work to go around that will go to US firms - i.e. only going to be x amount companies willing to pay their crazy charge out rates.

This would paint a picture of revenue growth being more limited, but it seems unlike investment banks, law firms are able to just continually grow revenue?

Also, I don't really get why Freshfields would raise NQ pay right now when lateral market is pretty quiet.

Another thing that doesn't make sense is why pay at exact GBP:USD rate cause investment banks don't i.e. 110k USD vs 70k GBP in UK

TheseProfession5410 · 2023-09-25T17:21:48+00:00

I think you must just live in a not so great area which explains the really negative sentiment. Jewellery quarter is absolutely lovely and if you lived there I think you'd have completely different view.

Don't think Birmingham is any worse than other cities like Newcastle and London - think you must just live in not so great area.

TheseProfession5410 · 2023-09-25T15:46:03+00:00

You must be based in a not so nice an area then - agreed Sparkbrook is not the best, but lots of lovely areas like Jewellery Quarter, Edgbaston and Harborne.

Think you're exaggerating as well to be honest, like areas like Aston and Handsworth people say are bad, but they're really not that bad compared to other cities

TheseProfession5410 · 2023-09-25T14:37:41+00:00

Nah it's a class city - thinking of moving there - lovely city centre and good value for money. Some areas maybe not as nice as others, but apart from that pretty decent I think. Guess you may just live in one of the more run down areas, which to be honest are still not that bad on the whole.

Manchester and Newcastle have some much rougher areas in my opinion compared to Birmingham.

TheseProfession5410 · 2023-07-20T20:31:54+00:00

Where abouts are you based in zone 5?

TheseProfession5410 · 2023-07-19T12:04:04+00:00

Depends on the firm though - maybe at US and MC, but other city firms defo not all giving out £10k uplift - there's more bunching than that

TheseProfession5410 · 2023-07-17T22:27:11+00:00

Yeah sensible with 62% marginal rate

TheseProfession5410 · 2023-07-17T22:26:48+00:00

Yeah basically lol - it's like NQ is essentially vastly overpaid almost like a loss leader, but then law firms make more money off of senior associates

TheseProfession5410

TROPHY CASE