What are the best cities for graduates to live and work in
Being a graduate comes with the pressure of having to find the best job in your respective field. Historically, “a job is a job” was the mentality of graduates. However, for millennial graduates, other factors are now taken into consideration. Where the graduate will be living and working is now crucial to gauge how easily these other factors can be met.
Analysis from CV-library reveals the best UK cities for graduates to live and work in based on a number of circumstances such as pay, living costs and future prospects.
For cheap rent, Sheffield and Newcastle were highlighted as the cheapest for graduates to live. Young professionals can look to pay anywhere between £368 - £375 per calendar month for accommodation while the capital comes in the most expensive, with London at £698 pcm. Surprisingly, Cardiff was the second most expensive with rents averaging at £593 pcm for graduates.
If you can’t let go of university life and are still looking to have a healthy amount of disposable income too enjoy on the weekends, once again, Sheffield comes in at number 1. Glasgow and Southampton come in next when calculating the average amounts being left for graduates after paying bills and rent with £1,129.51 and £1,095.41 respectively. Sadly for our west country graduates, professionals in Bristol are seen to experience the pinch the most as they have the lowest amount of disposable income available.
For the high starting salary seekers, as expected, Glasgow and London sit firmly at the top of this list (however, high starting salaries usually correlate with longer and more intense working hours!). The lowest salaries were for jobs in Birmingham (£21,823) and Newcastle (£20,757).
Some graduates may be looking at more long-term financial growth as opposed to short term. Through this they may opt to start on a low salary but then expect a significant pay rise in years to come. Working in Birmingham, a 53.9% increase is normally seen on the wage packet in years ahead while London also boasts a healthy 52.8% increase. Newcastle came in third with 50.2%.
And while on the subject of ‘long term’, a hot topic on the mind of graduates is purchasing their own home in the future. The research has shown that in order to purchase a house in five years time, young professionals residing in Glasgow must save 17.9% of the average monthly salary. This equates to a conservative £201.67 a month. In comparison, Londoners have to save £799.66 monthly, a whopping 80.5% of their wage!
Whether you’re a graduate looking for a job or already placed in a job, we would love to hear from you. Reviewedo is a community built on the experience that you have had with recruiters.