Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Finance Companies moving to the Midlands


With a crooked smile
 Share

Recommended Posts

With a crooked smile

I rember reading years ago about banks moving to the Birmingham area. I've noticed on LinkedIn today an article about Goldman Sachs moving to the Midlands. I can see the appeal for younger members of staff. Lower houses prices very different environment ect. How typical is this and is there really any wage premium on being in London anymore? 

  • Informative 1
Link to comment
Share on other sites

spygirl
13 minutes ago, With a crooked smile said:

I rember reading years ago about banks moving to the Birmingham area. I've noticed on LinkedIn today an article about Goldman Sachs moving to the Midlands. I can see the appeal for younger members of staff. Lower houses prices very different environment ect. How typical is this and is there really any wage premium on being in London anymore? 

For ~95% of people moving to London for work, London has been shit for ~20 years.

Its really not worth it.

 

  • Agree 4
Link to comment
Share on other sites

Bricormortis

Its been going on for a few years as far as I know, I lived in Brum for 6 years till last year.

Brum wants to compete with Canary Warf in their dreams. They have stated that.   There was a plan to make a 10,000  job office park at Snow Hil ( central Brum ) for that purpose.

I got the impression that the city does turn out plenty of IT graduates and such.

  • Informative 2
Link to comment
Share on other sites

BurntBread
47 minutes ago, Bricormortis said:

Its been going on for a few years as far as I know, I lived in Brum for 6 years till last year.

Brum wants to compete with Canary Warf in their dreams. They have stated that.   There was a plan to make a 10,000  job office park at Snow Hil ( central Brum ) for that purpose.

I got the impression that the city does turn out plenty of IT graduates and such.

Not the first time it's tried to compete against London. I think in the 18th century its selling point was that it didn't have the "closed shop" trade guilds, and so it became a centre of manufacturing, and the early industrial revolution.

I'm not sure the parallels are that close this time, but it's an interesting thing to try.

  • Informative 2
Link to comment
Share on other sites

Castlevania
3 hours ago, With a crooked smile said:

I rember reading years ago about banks moving to the Birmingham area. I've noticed on LinkedIn today an article about Goldman Sachs moving to the Midlands. I can see the appeal for younger members of staff. Lower houses prices very different environment ect. How typical is this and is there really any wage premium on being in London anymore? 

Deutsche Bank have been in Birmingham a while. Salaries are around half London.

  • Agree 1
  • Informative 3
Link to comment
Share on other sites

With a crooked smile
4 hours ago, spygirl said:

For ~95% of people moving to London for work, London has been shit for ~20 years.

Its really not worth it.

 

I think broadly speaking I agree with you. I used to commute long distance 20 years ago to London. The pay was meh but I got loads of experience that allowed me to get a much better paid job a lot further away. I met a lot of young grads from all over the UK back then and the general view was they wouldn't break even on the graduate training scheme but the experience was worth it. London seemed a lot more exciting back then. Most of the overseas workers were SA, Oz or New Zealanders. Ive visited Lichfield a few times near Brum and thought it was pleasant. If I was starting out workwise I'd probably go their now rather than London purely based on housing costs. 

  • Informative 2
Link to comment
Share on other sites

Green Devil
22 hours ago, Castlevania said:

Deutsche Bank have been in Birmingham a while. Salaries are around half London.

Seems like thats the real reason then for the move. Cut the wage bill in half. 

  • Agree 2
  • Informative 1
Link to comment
Share on other sites

19 hours ago, Green Devil said:

Seems like thats the real reason then for the move. Cut the wage bill in half. 

Also increase staff retention - as there are fewer people competing for the workers (even with wages cut in half).

Edited by eek
  • Agree 1
Link to comment
Share on other sites

wherebee
On 15/04/2021 at 03:35, Castlevania said:

Deutsche Bank have been in Birmingham a while. Salaries are around half London.

HSBC are there as well.  Got a mate who was moved from London up there about 3-4 years back, I think.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...