Zarah ChoudharyA new study has revealed the best European cities for young professionals to launch a marketing career while saving money, and London has been singled out as the worst option for early-career marketing executives.
Seine River Cruises conducted an analysis that identified Amsterdam and Rome as the top cities for financial savings, allowing professionals to retain a significant portion of their salary, while in London, marketing executives accumulate considerable debt.
The study assessed the cost of living for marketing professionals in major European cities, including Amsterdam, Rome, Paris, Lisbon, and Budapest. By using the salary of a marketing executive as an example, the research compared living costs such as rent, commuting, groceries, utilities, and leisure activities, providing a comprehensive look at where young professionals can maximize savings.
In London, marketing executives earn around £3,028 per month, which is significantly lower than in cities like Amsterdam, where the average salary is £4,753, a 36% difference. In Paris, salaries are also higher than in London, averaging £3,308 per month. However, London’s cost of living surpasses these earnings, with monthly expenses averaging £3,730. This results in a significant financial burden for marketing professionals, who face an annual debt of £8,424.
In contrast, Amsterdam is one of the best cities for young professionals looking to save money. A marketing executive in Amsterdam earns £4,752 per month, and with living expenses totalling £3,235, they can save around 32% of their salary. This translates to annual savings of approximately £18,215. Rome is another favourable city for professionals, offering an average salary of £2,983 per month and lower living costs of £1,989, enabling individuals to save about £11,283 per year.
Paris offers more modest savings, with professionals spending around 79% of their salary on living expenses, allowing for an annual savings of £8,524. Meanwhile, Lisbon, although still offering savings, requires professionals to spend 88% of their salary on living costs, leaving them with just £3,349 in savings per year. In Barcelona, savings are even more limited, with professionals keeping just 4% of their salary, resulting in annual savings of £1,117.
Berlin offers a near break-even scenario, where marketing professionals spend 99% of their salary on living costs, allowing them to save a minimal £192 per year.
Other cities such as Prague, Athens, and Budapest, though appealing for their lifestyle, pose significant financial challenges. In Prague, marketing executives earn £1,781 per month but face living expenses that total £1,851, which puts them in debt by £847 annually. Athens presents an even worse situation, where professionals spend 122% of their salary on living costs, leading to an annual debt of £3,181. Budapest, the most financially difficult city in the study, sees marketing professionals spending 178% of their income on living expenses, which results in an annual debt of £7,025.
London also ranks as one of the most expensive cities for rent, with a one-bedroom apartment in the city centre costing £2,188 per month which is 342% more than in Athens, the cheapest city for rent in the study. Utility bills in London, averaging £311 per month, are also high, though only slightly lower than Berlin, where monthly utility costs reach £328.
Public transportation and leisure costs vary significantly across Europe. In London, a public transport pass costs £200 per month, placing it among the most expensive cities for commuting. However, in cities like Barcelona, Budapest, and Prague, public transport passes are much cheaper, costing as little as £18 per month. Similarly, taxi fares in London average £489 per month, which is 173% higher than in Lisbon, where taxis are most affordable at £179 per month.
Grocery costs also vary widely. While London’s average grocery bill is £260 per month, it is higher in cities like Paris (£360), Berlin (£280), and Amsterdam (£279). In Budapest, however, groceries are significantly cheaper, with professionals spending only £186 per month, a 28% saving compared to London.
Dining out is another area where costs differ greatly across Europe. In London, eating out twice a week costs £320 per month, while in Rome, it would only be £222, and in Barcelona, even lower at £205 per month. For those who enjoy socializing over drinks, London costs £88 per month for twice-weekly outings. Prague offers a more budget-friendly alternative, with similar socializing costing just £50 per month. Amsterdam, however, is the priciest for drinks at £102 per month.
Even everyday items like coffee reveal stark differences. In London, buying a cappuccino five days a week costs £68 per month, while in Rome, the same habit costs only £25, making it 63% cheaper than in London.
Commenting on the results, Magdalena Petrusic, a travel expert from Seine River Cruises said: “While London offers countless opportunities, it does come with a hefty price tag. I believe relocating to other European cities will not only enable you to save more but also allow you to experience new cultures.
“For young professionals who want to maintain a similar lifestyle to what we are used to in London, Amsterdam is a fantastic option. English is widely spoken, which makes the move more accessible and it is much more affordable.”
