Manchester has been ranked the top city in England for graduate opportunities and affordable housing, according to a new report launched today.
The Intergenerational Foundation, which researches fairness between generations, found that London might not necessarily be the way to go for the county’s brightest young talent in a report called: ‘Should young people look north?’
Poor work-life balance in the capital is leaving many graduates financially crippled by housing costs whilst being lured by the promise of good careers.
IF co-founder Angus Hanton said: “While London offers many job opportunities, the capital’s housing crisis means young people may have good jobs but their income is disproportionately swallowed up by high housing costs.
“They could have a better work-life balance by looking north instead.”
The foundation aims to influence government policy to make life opportunities fair for young, old, and future generations.
Manchester as part of the ‘Northern Powerhouse’ sits in a ‘sweet spot’ for both graduate jobs and affordable housing.
Hanton said: “Our findings overlap with the current government’s strategy to seek to build a ‘Northern Powerhouse’, and devolution of public expenditure and taxation to Combined Local Authorities would allow these regional centres to truly compete with London for young talent.”
Young people that choose the northern city to begin their careers after graduation can expect a higher quality of home life.
Due to internal migration, the 25-34 age group account for a third of the London’s population (according to Office of National Statistics), but many are postponing settling down and raising families due to the high cost of housing in the capital.
Hanton said: “Highly-qualified young people should consider looking elsewhere for a better work-life balance.”
Image courtesy of Alan Light with thanks.