Are you thinking of moving to London or simply wondering what kind of neighbourhood you are living in? Emolument will help you sharpen your understanding of London’s districts!
Emolument.com has analysed 1,301 salaries in London, considered the number of years of experience, focused on jobs in Banking and linked all the information with the related postcodes. West London is definitely the well-to-do part of town.
Map 1. Average salary for all professions in each district of London
Wealthy West. Looking at average salaries, the wealthiest professionals live in West London, across all jobs. Not a surprise since West London has long been favoured by the elite since it was close to the royal seat of power and upwind of the smoke drifting from the crowded industrial East of the city. The West attracts high-earning typesto areas such as Kensington (W8), Holland Park (W11), Maida Vale (W9) or Hampstead (NW4).
Map 2. Geographical breakdown of bankers residential locations in London
The Isle of Bankers? The majority of bankers in this study live on the Isle of Dogs (E14). This is a prime location considering how close it is to Canary Wharf. Other favourite locations are Islington (N1), Battersea (SW11) and Southwark (SE1), which are also relatively close to the City or Canary Wharf. Most banks have their headquarters either in the City (Standard Chartered or Lloyds banking Group) or in Canary Wharf (HSBC or Barclays).
Map 3. Bankers’ years of experience in relation to their home location
Home SWest Home! As bankers climb up the ladder, they are likely to move around London: those with experience tend to live in the South West, in areas such as Belgravia, Pimlico (SW1), Holland Park, Notting Hill (W11), or Ravenscourt Park (W6) and Kensington and Chelsea (SW7, W8…). Such areas live up to a banker’s idea of the perfect home: stunning Victorian houses with leafy gardens in quiet yet fashionable neighbourhoods.
Alice Leguay, Co-Founder & COO at Emolument said: ‘London workers are famed for their fearless attitude to commuting. While some choose to spend a substantial part of their earnings on living close or within Zone 1 – namely many foreign workers who prefer to make sacrifices in order to maintain a social life around other foreign professionals, or stay close to international schools – many will eschew cramped London for green spaces and a better quality of life away from the capital.’