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Salary Comparison - London to New York

Salary Comparison - London to New York

Old Oct 3rd 2023, 5:38 pm
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Default Salary Comparison - London to New York

Hi All. I’m in the process of negotiating a transfer from London to the New York office of the company I work for.
i was wondering whether anyone who’s made a similar move could advise on what multiplier you would add you a salary in London to maintain the same quality of life in New York City. I saw someone throw out x2.5 on a Reddit thread, but interested in what other people think.
For example I live alone in a 2 bed flat in London zone 2, and I would assume to manage that in Manhattan my salary would need to basically triple.
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Old Oct 3rd 2023, 6:08 pm
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Default Re: Salary Comparison - London to New York

It doesn't matter what multiplier you think is appropriate, or anyone suggests, it is only what the market salary range is for that job. Look to see what similar employers are paying recruits for similar roles in NYC.
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Old Oct 3rd 2023, 6:34 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by Pulaski
It doesn't matter what multiplier you think is appropriate, or anyone suggests, it is only what the market salary range is for that job. Look to see what similar employers are paying recruits for similar roles in NYC.
Thanks - I’ve done this. The role for this role in particular varies by 150k, as do most similar ones. What I’m hoping for is some insight and leverage for when compensation is discussed.
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Old Oct 3rd 2023, 7:02 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by Altfan02
Thanks - I’ve done this. The role for this role in particular varies by 150k, as do most similar ones. What I’m hoping for is some insight and leverage for when compensation is discussed.
When I moved in 2019 I went from £56k to $117k. Which seems to be about right, approx twice the number.

One thing to note is that you will have more costs here (health insurance etc.) and probably less vacation time. Also, if you are L1 it could be years before you get a GC and can leave, so after you move your negotiating power goes down significantly. I've nearly got my GC now but I am definitely on less that I would have been if I could leave my company.
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Old Oct 3rd 2023, 8:47 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by Altfan02
Hi All. I’m in the process of negotiating a transfer from London to the New York office of the company I work for.
i was wondering whether anyone who’s made a similar move could advise on what multiplier you would add you a salary in London to maintain the same quality of life in New York City. I saw someone throw out x2.5 on a Reddit thread, but interested in what other people think.
For example I live alone in a 2 bed flat in London zone 2, and I would assume to manage that in Manhattan my salary would need to basically triple.

Do a budget, that’s the not way you will know what will work. You can see what an apt will cost you looking 👀 on Street Easy. You should be able to rent 2 bed apt in midtown and other neighborhoods for $4,500 to $7,500 a mon. I rented a “wing” 2 bed in the EV when I first moved. I did that because there was no living room. If you are moving alone i would say a studio or 1 bed is my typical for a single occupant. I ended up buying a place because the rents were going so crazy.
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Old Oct 3rd 2023, 9:07 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by postbox134
When I moved in 2019 I went from £56k to $117k. Which seems to be about right, approx twice the number.

One thing to note is that you will have more costs here (health insurance etc.) and probably less vacation time. Also, if you are L1 it could be years before you get a GC and can leave, so after you move your negotiating power goes down significantly. I've nearly got my GC now but I am definitely on less that I would have been if I could leave my company.
I moved with an L1. My company moved several people from the UK to US on an L1 visa, and I don't think any of them felt short changed or exploited while on the visa.

In addition, for the majority of us, the company applied for our Green cards approx 6 to 12 months after we had arrived. They paid for the lawyers and we had our cards in about 6 months after application.

I don't remember any of us leaving the company once we had our green cards - certainly there was not a mad dash to go to better paid jobs.

I don't think your experience is typical of people who move with a company who has any regard for their employees.
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Old Oct 3rd 2023, 9:28 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by tht
You should be able to rent 2 bed apt in midtown and other neighborhoods for $4,500 to $7,500 a mon.
Not sure if you have looked at NYC rents recently, but this is on the low side. We pay nearly that much in New Jersey...

In addition, for the majority of us, the company applied for our Green cards approx 6 to 12 months after we had arrived. They paid for the lawyers and we had our cards in about 6 months after application.
Same for me, but my company wouldn't sponsor until 2 years in the US and EB-2/3 takes 3+ years with PERM these days. Even EB-1 is much slower than [edit: your experience was in the past, timelines are very random at the moment]

Your experience sounds good, but OP's could be significantly different to that depending on industry, economic conditions and many other factors. I think I've been quite lucky, but that's due to goodwill of my managers, and if that wasn't the case it could be quite different.

Last edited by postbox134; Oct 3rd 2023 at 11:12 pm.
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Old Oct 3rd 2023, 11:07 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by postbox134
and EB-2/3 takes 3+ years with PERM these days. Even EB-1 is much slower than that.
5.5 months for my EB1 from start to finish earlier this year. And could have been quicker but we had to wait for my son to get back from a school trip to renew his passport which added several weeks.
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Old Oct 3rd 2023, 11:12 pm
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Default Re: Salary Comparison - London to New York

Originally Posted by christmasoompa
5.5 months for my EB1 from start to finish earlier this year. And could have been quicker but we had to wait for my son to get back from a school trip to renew his passport which added several weeks.
Sorry much slower than it was before COVID, much of USCIS very unpredictable right now.
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Old Oct 4th 2023, 12:38 am
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Default Re: Salary Comparison - London to New York

Originally Posted by postbox134
Sorry much slower than it was before COVID, much of USCIS very unpredictable right now.
Blimey, if 4-5 months or so is 'much slower' then how quick was it before Covid?!?
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Old Oct 4th 2023, 12:43 am
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Default Re: Salary Comparison - London to New York

Originally Posted by christmasoompa
Blimey, if 4-5 months or so is 'much slower' then how quick was it before Covid?!?
You misunderstand me, you timeline seems very fast and doesn't show a representative timeline for OP. Also sounds like you did yours via consular processing which at the moment is much faster than the disaster that is the USCIS. We don't even know if the OP is EB-1 eligible, if not then they will have several years to wait for a greencard. With inflation much higher than it was, handing a lot of bargaining power over their salary is something to warned about now as relevant to their original question.
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Old Oct 4th 2023, 12:54 am
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Default Re: Salary Comparison - London to New York

Originally Posted by postbox134
You misunderstand me, you timeline seems very fast and doesn't show a representative timeline for OP. Also sounds like you did yours via consular processing which at the moment is much faster than the disaster that is the USCIS. We don't even know if the OP is EB-1 eligible, if not then they will have several years to wait for a greencard. With inflation much higher than it was, handing a lot of bargaining power over their salary is something to warned about now as relevant to their original question.
I know, I was sharing my experience as you said even EB-1 takes longer than 6 months - I don't know of any EB-1 cases (and I've followed a LOT!) that have taken that long over the past year. There's another guy on BE who had his (AOS, not consular processing) in 3 months. No idea on what the OP may be eligible for, but if it is EB1 they may be able to get a green card before moving, and depending on how badly the company want them, make it part of the negotiations.

FWIW, if it helps the OP we get a tax free 'cost of living adjustment' whilst in the US, and for NYC the figure we were given was just under £4000 a month (we ended up picking somewhere else). That doesn't include rent, cars, schooling, or any medical costs; it is just for other living costs such as groceries, entertainment, days out, clothes etc. That's for us as a family of 4, and it sounds like the OP may be single, but it would give him an idea at least of what those things will cost extra versus London. Then he can add in other costs like rent, medical, travel etc to give him an idea of what it'll need to be after tax for the lifestyle he wants. OP - I'd also suggest a good search of the forum, I'm sure there have been quite a few useful threads with some figures on, best of luck to you.

Last edited by christmasoompa; Oct 4th 2023 at 12:57 am.
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Old Oct 4th 2023, 9:37 am
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Default Re: Salary Comparison - London to New York

[QUOTE=postbox134;13219443]Not sure if you have looked at NYC rents recently, but this is on the low side. We pay nearly that much in New Jersey...

It’s been a coupe of weeks since I looked at rents / as I was letting my NYC apt. But I think I am pretty close. Check Street easy. That said the new thing now is that the stated rent is more like an offer price on selling a house and you get tenants who now bid higher to get themselves picked as the tennant… mine let at over the advertised price.

The biggest issue for the OP on housing will be actually renting one. With no US credit and the new NYC rules on landlords not being able to accept more than 1 months deposit or more than 1 months rent in advance they will find it harder to secure a rental. I got my first one by paying more moths in advance and a higher deposit.

NJ is not cheap either, I was priced out of the NYC rental market very fast, and had to buy a place to get what I wanted at a reasonable rate.
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Old Oct 4th 2023, 1:40 pm
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Default Re: Salary Comparison - London to New York

I did exactly that last year. I would say 2.5x is about right. As others said, check Street Easy for prices of somewhere you'd be willing to live. I wouldn't recommend midtown but you will have your own considerations of commute, noise level, amenities and space. We ended up in downtown Manhattan but Brooklyn, Queens and Jersey City/Hoboken are also options.
Taxes work about roughly similar to the UK by the time you've added state, city, SS etc. in.
Groceries are also about 2-3x. You can browse Whole Foods on Amazon to get a feel. Yes there are cheaper places to grocery shop, but in Manhattan they are all pretty expensive.
Healthcare will be a cost but varies so much depending on your company's plan and how much you need to use it. We'll spend a few k as a healthy couple this year.
Budget for trips home and moving expenses.
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Old Oct 4th 2023, 2:43 pm
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Default Re: Salary Comparison - London to New York

Hope this helps. This was my wife and I's combined HH income and rent at different stages and how it felt. I moved on an L2 and then ultimately switched to an L1B in 2019.

2016 £110k Rent £1450pcm 1bed SW London Z2 - Baseline when we left London
2017 $200k Rent $2400pcm 1bed West Village - Felt about the same but only because rent was unusually cheap
2019 $310k Rent $2500pcm 1bed West Village - Felt much better because rent was still unusually cheap
2021 $353k Rent $3960pcm. 2bed UWS - Felt like we had loads more money despite increased rent because Covid cut opportunities to spend it.
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