Hi All,
I work for an IT advisory company in a low cost of living area of Florida. I applied for a big promotion for a job in a suburb of London.
Good news - I got the job!
Bad news - They are offering me a pay cut!
Currently salary: 80k Dollars / year Offered salary: 62k Pounds / year (equivalent to 79k dollars / year) *Also offering 5,000 pounds, after tax, for a relocation package
From a resume standpoint, this would be a huge step up and a great way to advance my career. I am also thrilled about the idea of living in a new country, learning a new culture and traveling Europe while in my late 20s.
However, from a financial standpoint, I realize it does not make any sense to take this job. I would be going to a higher cost of living area, with higher taxes, for less money.
Here is where I need help - In order to make an informed decision about whether or not to take the job, I am trying to determine how much of a financial hit it will be when I factor in cost of living and taxes (I believe I will need to pay taxes to both the UK and US).
Any advice you have on what I should be considering from a financial standpoint while I try to make this very large decision would be great appreciated. Thank you for reading!
Submitted June 23, 2019 at 08:46PM by Stsully234 http://bit.ly/2Y7RvG3
