LDN -> NYC: Calculating equivalent salary.
#1
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Joined: Nov 2016
Posts: 2
LDN -> NYC: Calculating equivalent salary.
Hi there,
I've been asked to move to New York to establish the company's first US office (as part of a team relocating). This means there's a fair bit of flexibility in negotiation, or at least I expect there to be, as there is no precedent set.
Is there a rough rule of thumb for calculating an equivalent salary? I'm single, 27, paid £55k + 10% bonus and currently able to save about £1000 a month.
I live in a house share already so less worried about 'my own place' and more worried about still being able to save and feel financially comfortable. I'd be very uneasy about suddenly being able to save significantly less.
My research so far leads me to 'double and change £ to $' so.... $110k? It's tough to find salary reports for my role but that does _seem_ about right as far as I can tell.
Thanks!
I've been asked to move to New York to establish the company's first US office (as part of a team relocating). This means there's a fair bit of flexibility in negotiation, or at least I expect there to be, as there is no precedent set.
Is there a rough rule of thumb for calculating an equivalent salary? I'm single, 27, paid £55k + 10% bonus and currently able to save about £1000 a month.
I live in a house share already so less worried about 'my own place' and more worried about still being able to save and feel financially comfortable. I'd be very uneasy about suddenly being able to save significantly less.
My research so far leads me to 'double and change £ to $' so.... $110k? It's tough to find salary reports for my role but that does _seem_ about right as far as I can tell.
Thanks!
#2
Re: LDN -> NYC: Calculating equivalent salary.
If your employer has asked you to move, that gives you a much stronger hand to play. Have a look at jobs similar to your role located in New York, ..... then add about 20% for your opening bid. If you start too low they aren't going to offer you more.
Last edited by Pulaski; Nov 3rd 2016 at 11:25 pm.
#3
Re: LDN -> NYC: Calculating equivalent salary.
Is your company aware of what's involved in obtaining a visa for you to come and do this?
As for salary, remember there are things like healthcare to take into consideration which could well be as much as $1000 per month on its own depending on the coverage.
...and remember that even $110k is unlikely to put you in a Manhattan loft. Be prepared for a commute, depending on where you wind up living in relation to the office!
As for salary, remember there are things like healthcare to take into consideration which could well be as much as $1000 per month on its own depending on the coverage.
...and remember that even $110k is unlikely to put you in a Manhattan loft. Be prepared for a commute, depending on where you wind up living in relation to the office!
#4
Re: LDN -> NYC: Calculating equivalent salary.
Take a look at Glassdoor, LinkedIn.etc for equivalent positions in similar companies/positions.etc to get an idea of salaries. Do use it as an idea however and not gospel as they do inflate the salaries slightly.
Yup - Hoboken, Weehawken, Jersey City are all easily commutable to Manhattan and are significantly cheaper!
Yup - Hoboken, Weehawken, Jersey City are all easily commutable to Manhattan and are significantly cheaper!
#5
Re: LDN -> NYC: Calculating equivalent salary.
Wiki, up top has a decent bit of info on things to consider in a relocation package as well.
#6
Re: LDN -> NYC: Calculating equivalent salary.
In 2011 I went from £48,000 in London to $110,000 in NYC and that was with me requesting the transfer (on a spouse visa so the company didn't need to do anything there). HR weren't happy to let me have that much but I had a very sympathetic CTO who didn't want to lose me and he held out for me. Given that your company wants you to move I'd say pitch higher and see what they say.
The cost of living over all in NYC is higher than London, although some things like public transit are cheaper. $110,000 for a single person wouldn't be bad, especially if you want to carry on flatsharing, but life in the US is better the more money you have!
The cost of living over all in NYC is higher than London, although some things like public transit are cheaper. $110,000 for a single person wouldn't be bad, especially if you want to carry on flatsharing, but life in the US is better the more money you have!
#7
Forum Regular
Joined: May 2016
Posts: 97
Re: LDN -> NYC: Calculating equivalent salary.
In 2011 I went from £48,000 in London to $110,000 in NYC and that was with me requesting the transfer (on a spouse visa so the company didn't need to do anything there). HR weren't happy to let me have that much but I had a very sympathetic CTO who didn't want to lose me and he held out for me. Given that your company wants you to move I'd say pitch higher and see what they say.
The cost of living over all in NYC is higher than London, although some things like public transit are cheaper. $110,000 for a single person wouldn't be bad, especially if you want to carry on flatsharing, but life in the US is better the more money you have!
The cost of living over all in NYC is higher than London, although some things like public transit are cheaper. $110,000 for a single person wouldn't be bad, especially if you want to carry on flatsharing, but life in the US is better the more money you have!
#8
Forum Regular
Joined: May 2016
Posts: 97
Re: LDN -> NYC: Calculating equivalent salary.
Hi there,
I've been asked to move to New York to establish the company's first US office (as part of a team relocating). This means there's a fair bit of flexibility in negotiation, or at least I expect there to be, as there is no precedent set.
Is there a rough rule of thumb for calculating an equivalent salary? I'm single, 27, paid £55k + 10% bonus and currently able to save about £1000 a month.
I live in a house share already so less worried about 'my own place' and more worried about still being able to save and feel financially comfortable. I'd be very uneasy about suddenly being able to save significantly less.
My research so far leads me to 'double and change £ to $' so.... $110k? It's tough to find salary reports for my role but that does _seem_ about right as far as I can tell.
Thanks!
I've been asked to move to New York to establish the company's first US office (as part of a team relocating). This means there's a fair bit of flexibility in negotiation, or at least I expect there to be, as there is no precedent set.
Is there a rough rule of thumb for calculating an equivalent salary? I'm single, 27, paid £55k + 10% bonus and currently able to save about £1000 a month.
I live in a house share already so less worried about 'my own place' and more worried about still being able to save and feel financially comfortable. I'd be very uneasy about suddenly being able to save significantly less.
My research so far leads me to 'double and change £ to $' so.... $110k? It's tough to find salary reports for my role but that does _seem_ about right as far as I can tell.
Thanks!