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Cambridge was good when share price was going up

Senior Engineer
Current Employee
Has worked at Arm for less than 1 year
September 2, 2015
Cambridge, United Kingdom
1.0
Doesn't RecommendPositive OutlookNo CEO Opinion
Pros

The hiring process was very selective. Only the best people were able to join my team and I am working with very talented fellows. The products the company makes are used by billions of people and having that big influence is highly rewarding. We also make very good product on time and of higher quality than our competitors so I feel happy that our customers see this.

Cons

I joined three years ago and moved to Cambridge. After deductions I receive £2000 a month. My wife is at home to take care of our daughter. Our little apartment bills and necessities.and costs over £1500. I would like to own a house but house prices go up 10% every year. The house I would like to buy is 10 times my salary and not being a British national makes it so hard to get a mortgage. I will never afford to live here.

My friends always say that the save as you earn and share bonus will get you the house. They get 10 times investment in the save as you earn scheme when my finish I will only get the money I saved back. They are at the same grade and pay as me but started 2 years earlier than me bought a house for half the price of now and are pay it off from their share bonuses. The bonus this year was 5% which does not even pay for visiting my parents. After 3 years I have to save £15000 but house prices go up £80000.

I know many people in Austin and I even visit there and see them. Austin workers for ARM get two times the salary of Cambridge for same grade but it is cheaper to live there than here. I would like to live there instead but it is very difficult visa to get for my family. Worst they laugh at how little we pay in Cambridge.

Advice to Management

Do not use the share price going up as a way of compensating workers. Support hard working employees who are starting in Cambridge who have to pay so much to live here. It will be even more expensive next year and new employees will feel cheated. Offer a loan scheme to help people get a house. If company says they hire the best they should also pay the best.

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