Salary Conversion
Jul 30th 2012 | 1:54 am
#16
Moderαtor Emeritus
Joined: Sep 2003
Posts: 30,771
From: Upstate South Carolina
Re: Salary Conversion
Just to provide a few more details for those that were kindly filling in some gaps to make the scenario more real. I'm not married but heading over with my girlfriend and our 18 month old son. We rent in the UK and want to do the same in Toronto, albeit it looks like we'd have to go well outside the city with that salary. The relocation package is reasonably generous but just short term help to help us settle - small cash amount ($8.5k), 3 months accom, shipping etc. but no car or flights home in first year.
Thanks again, I'll keep you posted on whether I've managed to convince them that I'm worth a few dollars more.
Thanks again, I'll keep you posted on whether I've managed to convince them that I'm worth a few dollars more.
Jul 30th 2012 | 2:22 am
#17
Lowering the tone
Joined: Mar 2007
Posts: 8,154
From: Here and there
Re: Salary Conversion
On another thread, someone is being advised not to move to NL on a family income of $40k. Flipping the salary conversion back, that's about GBP 25k, which is doable for many UK families, certainly in supposed low-cost areas.
I think that this proves that the straight FX conversion at current rates, around 1.60, is not anywhere near sufficient to buy like-for-like comfort.
I think that this proves that the straight FX conversion at current rates, around 1.60, is not anywhere near sufficient to buy like-for-like comfort.
Jul 30th 2012 | 2:38 am
#18
Beep
Joined: Jan 2009
Posts: 8,311
From: Here
Re: Salary Conversion
65K in London versus $100k in butt**** nowhere, New Brunswick, could be mega bucks and will probably be a big step up in affordability.
65k in Pickering versus $100k in Downtown-ish Vancouver doesn't really buy you much, and will probably be a big step down in affordability.
Last edited by el_richo; Jul 30th 2012 at 2:42 am.
Jul 30th 2012 | 2:42 am
#19
BE Forum Addict
Joined: Jan 2011
Posts: 2,040
From: Orton, Ontario
Re: Salary Conversion
http://www.rightmove.co.uk/property-for-sale/Hale.html
Jul 30th 2012 | 2:45 am
#20
Moderαtor Emeritus
Joined: Sep 2003
Posts: 30,771
From: Upstate South Carolina
Re: Salary Conversion
There have been a couple of comments like this on the thread - Iaink also mentioned moving from 'Hale to the expensive Toronto property market'. Clearly never looked at the Hale property prices. Take a look and then see what you think.
http://www.rightmove.co.uk/property-for-sale/Hale.html
http://www.rightmove.co.uk/property-for-sale/Hale.html
Last edited by iaink; Jul 30th 2012 at 2:50 am.
Jul 30th 2012 | 3:44 am
#21
BE Forum Addict
Joined: Jan 2011
Posts: 2,040
From: Orton, Ontario
Re: Salary Conversion
Property prices are comparable, even with the more expensive areas of Toronto, however I agree that £65k there is likely to provide a better standard of living than $85k in Toronto. The debate is, as the original poster asked, more about the salary conversion than property prices. IMO $85k does not seem like a reasonable conversion for £65k.
Jul 31st 2012 | 5:46 am
#23
Forum Regular
Joined: May 2010
Posts: 55
Re: Salary Conversion
I moved to Toronto in October last year.
It is surprisingly expensive.
I agree with a number of posters above and say $85k is certainly not comparable to 65k (can't find pound sign).
If you want my thumb suck guess. I would go with $110k is more like it to offer an equal standard of living.
good luck!
It is surprisingly expensive.
I agree with a number of posters above and say $85k is certainly not comparable to 65k (can't find pound sign).
If you want my thumb suck guess. I would go with $110k is more like it to offer an equal standard of living.
good luck!
Jul 31st 2012 | 5:52 am
#24
Moderαtor Emeritus
Joined: Sep 2003
Posts: 30,771
From: Upstate South Carolina
Re: Salary Conversion
Alt +156 = £
Jul 31st 2012 | 3:00 pm
#26
BE Enthusiast
Joined: Jul 2005
Posts: 479
From: Calgary
Re: Salary Conversion
I would want a 1.8x multiplier to even have close to the same standard of living.
