4 ms·
Yes, it's tough! And yes, London is cold. The rest of the country is not like that. However, you're not really trapped yet. Reading between the lines you don't
by osullivj 5y ago
Yes, it's tough! And yes, London is cold. The rest of the country is not like that. However, you're not really trapped yet. Reading between the lines you don't yet have children, and a huge mortgage and school fees geared to your banking salary. Which is where I was post GFC in 2009/2010. In that situation, with banks and HFs firing and nobody hiring at the salary you need to meet obligation, you are in a tricky spot. I saw some pretty nasty stuff happen at my employer in 2008/9/10. IMHO the solution is to move out of London. There's lots of interesting dev work outside London in Cambridge, Oxford, Bristol, Birmingham etc. And very healthy salaries too. Check my profile and email if you want more on how I solved this dilemma.
- thebrowncat 5y agoYes, this point is lost on a lot of people here. Even if a bank gave me a huge mortgage for an ‘adequate’ house, what if I get fired? Or what if I go insane and can not keep working? It’s not easy to find another job at the same pay level. And I’m very mindful of the global financial situation we’re in now, after Covid - rising inflation, almost every asset class already overpriced... it’s not sustainable. If they raise interest rates we’re utterly screwed..
- osullivj 5y agoColin Lancaster's Fed Up has a lot to say on the "new normal" in the global financial system: permanent low rates, the impossibility of unwinding QE etc [1] [1] https://etrading.wordpress.com/2021/06/09/colin-lancasters-fed-up/ https://etrading.wordpress.com/2021/06/09/colin-lancasters-f...