Living in London as a Graduate
Whether you’re moving there with your family or as a student, living in London has many benefits to explore. The London job scene is known for its variety of opportunities, higher salary and successful hub of networking which is why many graduates move there after university.
The thought of moving to London can be extremely daunting, however, we've put together this helpful article to highlight the main benefits of graduate work in London.
If you’re in doubt, this blog post will cover the main reasons graduates choose to live and work in London, from the endless wealth of opportunities to the excellent transport links the city has to offer. So get ready to book your London removal as we take you through the positives of living in London as a graduate.
Working in London comes with the benefit of receiving a higher salary, with London jobs offering the highest salary rate in the UK. According to Total Jobs as of September 2019, the current average salary for graduates working in London is £29,000.
Although the cost of living in London is more expensive than other UK cities, if you’re savvy with your money and stick to a budget, you can definitely make the most of the high salary that comes with working in London. You could even research the London Help to Buy schemes available to you, if you’re looking to purchase your first home and need help saving.
More Graduate Job Opportunities
In September 2018, the ISE (Institute of Student Employers) revealed that 79% of ISE employers recruited graduates in London. Not only is there a wealth of opportunity for graduate jobs across a variety of sectors, but many companies also have their headquarters in London which means you already have an advantage over other prospective employees if you’re living there.
With the financial industry boasting the highest employment figures out of every sector within London’s economy, the opportunity for graduate roles is constantly on the rise. It’s worth noting that Media and Marketing are amongst London’s most prevalent sectors for graduate job opportunities.
Well Connected Transport Links
Home to the London Underground, four major airports and an abundance of bikes, trains and buses, London hosts an extremely well-connected transport system. The tube has services running every few minutes, meaning you can be flexible with which area of London you search for jobs in.
Living in Inner London, the bustling transport scene means you can be at a work meeting in Oxford Street in a matter of minutes. The wealth of transport methods also helps to make the commute to work easier if you choose to live in Outer London. You can find our useful guide on London Commuter Towns here if you prefer living outside of city life.
London is a major hub for business, with many of the world’s most successful companies based in the centre of London, including sectors such as media and communications, ranging all the way to the property industry.
London’s lively social scene offers the ideal opportunity to host hundreds of networking events every month where you can establish important career relationships and work related links.
The Cost of Living in London
It goes without saying that London is expensive; to balance out the higher salary rates, the cost of living also increases. However, with careful monitoring of prices and setting your own personal budget, you can easily overcome this. Always be mindful of your spending and try to save over time, giving you enough money for a comfortable lifestyle as well as having enough tucked away for the future.
The average rent in London City for a 1-bedroom apartment is currently £1,697.32. Set yourself a budget and factor in the necessary bills and council tax so that you’re aware of how much you will need to pay each month and how much you can then spend on leisure.
London can often seem daunting when you look at the financial aspect. However, many graduates comfortably live within the city, slowly saving and working their way up the career ladder. It just takes a little planning and some careful budgeting to make it work.
7 Tips for Moving to London As a Graduate
- House Share - The London property market is expensive, but if you live with friends, family or arrange a house share, living in London can be much more affordable.
- Attend Multiple Viewings - If you eventually do decide to buy or rent a property in London, make sure you go to a variety of property viewings. You may think it’s your dream home, but after careful scrutinising, you may see that it’s not as good as you first assumed. Don’t rush into making any decisions, view a range of properties and take your time choosing.
- Hire a Conveyancer - Don't forget to compare London conveyancers to reduce your conveyancing costs when buying a property.
- Ditch the Car - London’s well-connected transport system means there’s no need to own a car. Not only will this save you money, but it will decrease the time spent in traffic jams around the city.
- Oyster Card - Get an Oyster Card for the tube and remember to tap in and out of each journey to save you money.
- Budget - Living costs are significantly higher in London, but if you stick to a personal budget, you’ll easily enjoy your higher wage. Be realistic with your finances and only spend what you can afford to.
- Get the Essential Apps - Download the crucial London apps like Uber, Google Maps, National Rail and City Mapper. You’ll eventually know your way around but it’s better to take the pressure off and download a little help.
Saving Money on Your London Removal
From its wealth of graduate job opportunities, to the significantly higher salary it offers, we can definitely see why graduates choose to work in London after university. To find the best London removal companies, use Compare My Move’s free online service today to get connected with up to 6 trusted companies who can lend a helping hand.