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How much money do you need to earn to live in Cambridge?

(24 Posts)
Hereisnownotthen Thu 12-Nov-15 12:57:28

Dh is applying for a job in Cambridge and needs to say what his salary expectations are. We have a toddler and a baby on the way and would rely on his salary. I would like to be able to afford some sort of childcare for eldest as he does not nap and I don't think I will cope on my own once baby is here. Once our house is sold we will make about 250k on it.
Does anyone live in Cambridge and have an idea of what we will need to realistically live on?

HoggleHoggle Thu 12-Nov-15 13:09:46

I can't give you a figure in afraid but I can tell you that the house prices in Cambridge are eye-watering, so it depends how close to the city you want to be. House prices will be the crux of the issue. Nurseries I suspect will be more in the city but outside will be a different matter. I live 20 mins outside Camb and dc nursery is £170 p/m for one day a week 9-4.

AnotherEmma Thu 12-Nov-15 13:13:38

I live in Cambridge and have friends here who are comfortable financially as well as those who are less well off but manage. Your question is pretty difficult to answer, tbh, without just saying "it depends"! Housing is very expensive in Cambridge. Presumably you want to buy rather than rent. You do have a decent amount of equity and you'll need to find out how much you can borrow on your DH's salary (or estimated salary if you're not sure yet). House prices obviously vary depending on the area - start looking at RightMove to get an idea.
Your DH could ask his new employer if they have a childcare voucher scheme as you'd save a bit of money on childcare that way.
Other than that it depends on the kind of house and lifestyle you want, really.

BirdintheWings Thu 12-Nov-15 13:14:18

But surely his salary expectations need to be in line with his job and his experience, rather than based on where he's going to work?

AnotherEmma Thu 12-Nov-15 13:14:37

PS I am assuming you mean that you will have £250k equity, not that your house is worth £250k...

Holstein Thu 12-Nov-15 13:16:25

Cambridge house prices are eyewatering! I presume you're going to live outside Cambridge?

Hereisnownotthen Thu 12-Nov-15 13:24:41

Yes 250k equity. Bird, the problem is with have only worked in the public sector and have no real idea of what to expect in private sector. Dh says he finds it really hard to guess what sort of salary they will pay from the job description. We have to be able to live on the salary though so seems a good idea as any to base it on what we need to live on. If we ask too much they can just reject us and that is ok as we couldn't live on it anyway.

Hereisnownotthen Thu 12-Nov-15 13:25:21

Live one less anyway I meant.

Hereisnownotthen Thu 12-Nov-15 13:27:33

What are decent areas outside Cambridge then? Obviously decent schools will be an issue. Thng with just looking at estate agents is that I don't know the areas the houses are in.

VeryPunny Thu 12-Nov-15 13:28:52

It's a bit of a piece off string question...
Cambridge salaries are pretty decent so your H shouldn't be afraid to aim high. Housing will be your biggest cost, after that everything is comparable in price to the SE. If you live in the centre you can cycle everywhere and save on cars etc.

Childcare - a full time place for an under 2 at my workplace nursery is over £1k/month. At the other end of the scale, my village playgroup is £12 for a morning.

Beebar Thu 12-Nov-15 13:31:55

I would say no less than £50k

Hereisnownotthen Thu 12-Nov-15 13:33:10

Sigh, Cambridge does look expensive. Problem is with DH's work there are very few places he can work and they are all expensive (without the salary to match, at least in the public sector). He should've trained to be a doctor instead.....

momb Thu 12-Nov-15 13:33:52

Getting through Cambridge is hideous, so look at house prices on the side of town where he'll be working. Consider the guided bus route which is very quick and not traffic dependent, as long as it takes him where he needs to be.
Having picked an area (look at schools) you can make a judgement on what the house price bracket will be. Petrol and food are not significantly higher in Cambridge than anywhere else.

If he's looking at Pharma (making a guess based on two large industry incomers over the last few months) be aware that salaries are not significantly higher in the private sector though that is on the up I think.

howabout Thu 12-Nov-15 13:34:08

I had this issue when I relocated. Have a look at how much rent / mortgage you would need to pay for a home you would be happy with - Rightmove is as good as any. Then factor in your current living costs and adjust for differences in things like commuting costs and childcare between your current situation and the proposed relocation. Don't forget to gross up the required salary for tax. Also see if you can get some comparator information for the job. Recruitment sites or professional bodies sometimes give this.

AnotherEmma Thu 12-Nov-15 13:39:21

It's unusual to advertise a vacancy without giving a salary or at least a range. It would be reasonable for your DH to ask about the salary before applying.

He could also do some research on average salaries for the job, using the job title if it's a common one, or looking into similar roles in the industry. There are various sources of this info - news stories, industry reports, career websites, etc. Glassdoor is a good website for research - I think you have to sign up and share a bit of information (eg your own job title and salary) but then you can access lots of information about salaries specific to sectors and areas.

I agree with the PP who said the salary should be competitive for the role and his skills, although it is sensible to look into living costs as well.

Beebar Thu 12-Nov-15 13:40:16

Why not buy on the outskirts of Cambridge or even further? Your dh could maybe commute by train and you'd be saving massively with your mortgage costs.

Hereisnownotthen Thu 12-Nov-15 13:58:21

Another Emma, he did phone and ask if they could give an indication of the salary range but they refused to give any idea at all.

Hereisnownotthen Thu 12-Nov-15 13:59:45

Thanks for all the advice and tips about sources of information on comparative salaries.

AnotherEmma Thu 12-Nov-15 14:05:46

"Another Emma, he did phone and ask if they could give an indication of the salary range but they refused to give any idea at all."
That's not a good sign is it? The recruitment process can be quite revealing sometimes. See how it goes, but if the rest of the process isn't better, be wary of relocating your whole family for a company like that... Not until he's done his probation and decided he likes it, anyway.

Timeforatincture Thu 12-Nov-15 14:16:43

Linton is really nice, about 10 miles outside Cambridge. It has primary and secondary schools (to 16), and the sixth formers go to Hills Road or Long Road.

This is a good price but needs a lot of updating.

This is a lovely house!

AnotherEmma Thu 12-Nov-15 14:19:38

There's not much point suggesting areas until we know where the job is and what the rough budget is. Commuting in and around Cambridge can be a PITA so it's pretty vital they live somewhere he can easily commute from whether by bike, bus or car.

Lilymaid Thu 12-Nov-15 14:29:38

Cambridge City is more expensive than the surrounding villages. There's lots of new housing going up around the city at the moment but it is top dollar. So, how big a house, how far out would you be prepared to live? Many of the villages have good local facilities and the local schools are generally good, so choice of where to live will depend on where the job is ... since Cambridge traffic is appalling and only likely to get worse as the city expands.

Hereisnownotthen Thu 12-Nov-15 17:00:59

Gosh, those are nice houses timefor. Will have to have further chats with dh about job location!

Pico2 Thu 12-Nov-15 17:06:43

I agree with Emma - start with where he's going to be commuting to and work from there. Cambridge traffic is terrible and probably only going to get worse.

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