Should I Move to London?

Careers Advisers often advise clients to increase their chances of getting a job by being prepared to work away from home and since Dick Whittington, there has been a long tradition of hopefuls from the North treading the golden pavements of London to 'seek their fortune'.

But does it pay off?

Recent research by "Graduate Market Trends" (Winter 2011/12 edition) analyses regional trends in graduate employment since the recession to come up with some interesting contrasts between employment patterns in London and elswhere.  What it broadly shows is the following:

• In certain key sectors, the London area dominates the UK employment scene so that over 50% of 2009 - 10 graduates working in some fields of work are based there.  In broad terms, London is a mecca for media careers (including editing), fashion and clothing design, finance, management consultancy and politics.
  
• On the other hand there are some industries, notably Engineering, where opportunities are just as available elsewhere.
  
• Although London has the highest number of graduate employers in the country, the rate of unemployment for London HE institutions is actually HIGHER than in other parts of the country.
  
• The reverse of this paradox is shown in Scotland - although Scotland is the only part of the country to show a decrease in graduate employment since 2007, the unemployment rate for Scottish HE institutions in the lowest in the UK.
  
• At 74% levels of private sector employment are considerably higher in London.  Elsewhere percentages of public sector employment  levels are a good deal higher*.  Additionally, only half of graduates in private sector employment outside London were considered to be in graduate level employment, whereas the figure for London was 67%.
  
• It is therefore interesting to reflect that ongoing public sector cutbacks are likely to have a more profound negative effect on unemployment in areas outwith London.

Hopefully this gives some feel of whether it is worth packing your bags heading for the 'big smoke'.   The next stage is to decide how you feel about issues like higher living expenses, commuting, lifestyle...

* N.b. however this does not mean there are fewer health and education sector vacancies in London than Lancashire and Cumbria - the reverse is likely to be true! (Ed.)