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Choice between London and Dublin: Impacted by poor GBP?

  • 24-10-2019 1:30am
    #1
    Dowend
    Registered Users Posts: 27 ✭


    I currently live abroad and I'm contemplating whether to relocate to London or return to work in Dublin.

    Here's my predicament:

    I would like to buy a house in the next 2-3 years and I see myself settling in Dublin long-term, but have always wanted to work in London as it is supposed to be very good experience for my line of work.

    Given the current GBP/EUR exchange rate, I would earn close to 40% more in Dublin (on Euro terms). Given this, and the fact I will be saving for a house to buy in Euro, does it make any sense to give the London experiment a go?

    I would be earning a good London wage but I'm always converting back to Euro and it doesn't add up, when compared to potential Dublin salary.


Comments

  • #2
    gozunda
    Registered Users, Registered Users 2 Posts: 18,996 ✭✭✭✭gozunda


    Dowend wrote: »
    I currently live abroad and I'm contemplating whether to relocate to London or return to work in Dublin.

    Here's my predicament:

    I would like to buy a house in the next 2-3 years and I see myself settling in Dublin long-term, but have always wanted to work in London as it is supposed to be very good experience for my line of work.

    Given the current GBP/EUR exchange rate, I would earn close to 40% more in Dublin (on Euro terms). Given this, and the fact I will be saving for a house to buy in Euro, does it make any sense to give the London experiment a go?

    I would be earning a good London wage but I'm always converting back to Euro and it doesn't add up, when compared to potential Dublin salary.

    London is an expensive place to live. Rent plus commuting means it can be difficult to save.


  • #3
    OutForTender
    Registered Users Posts: 42 ✭OutForTender


    Really hard for us to help without knowing how much you would earn.


  • #4
    Dowend
    Registered Users Posts: 27 ✭Dowend


    OutForTender wrote: »
    Really hard for us to help without knowing how much you would earn.

    Looking at something like €85k - 95k in Dublin vs. £60k -75k in London


  • #5
    OutForTender
    Registered Users Posts: 42 ✭OutForTender


    That's more than enough to live comfortably in both cities. Dublin is obviously a bit cheaper but if you're set on London you could live further out, reduce the cost a bit.

    I'd look at some of the recent historic values of Euro to Pound and see if that changes much for you.


  • #6
    Heart Break Kid
    Registered Users, Registered Users 2 Posts: 834 ✭✭✭Heart Break Kid


    Could you take the Job in London but get paid in Euro? Would hate to live on the boarder counties and live in the south but work on the north. FX would've been a significant hit to to your take home.


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  • #7
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,479 Mod ✭✭✭✭Jim2007


    Dowend wrote: »
    I would like to buy a house in the next 2-3 years and I see myself settling in Dublin long-term, but have always wanted to work in London as it is supposed to be very good experience for my line of work.

    London is about to become a backwater in terms on interesting work experience for the next five or ten years. Without the passporting of financial services, trade agreements, recognition of professional qualifications and so on it is not going to be an attractive place to do new stuff for sometime, so I would not expect the experience of the next few years to be as valuable to your career as it might have been in the past.


  • #8
    OMM 0000
    Registered Users, Registered Users 2 Posts: 3,733 ✭✭✭OMM 0000


    Dowend wrote: »
    I would like to buy a house in the next 2-3 years and I see myself settling in Dublin long-term, but have always wanted to work in London as it is supposed to be very good experience for my line of work.

    Isn't this your answer?

    Do 2 years in London and then move to Dublin and settle down.


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