Working in Cambridge?
Working in Cambridge
Local Economy in Cambridge
A thriving economy, Cambridge is well known for its strength in sectors such as research and development, software consultancy, engineering, the creative industries, pharmaceuticals, and tourism. Once described as one of the most beautiful cities in the world by Forbes magazine in 2010 due to its architecture and historical significance, tourism in the city generates more than 350 million pounds each year for the economy.
As Silicon Valley is famous in California, Cambridge has been referred to as the Silicon Fen, due to the high amount of technology businesses in the area. Many such companies have been born from the famous university and colleges. An example of this is the Cambridge Science Park, which is the largest of its kind in Europe (and owned by Trinity College). Companies include Abcam, CSR, Jagex, Sinclair and ARM Limited. Microsoft, one of the most famous technology companies in the world, has also located its UK research offices in the city.
There is even an established Cambridge Network, which is a way for businesses and organizations in the city to keep in touch with each other. It encourages cross-business ventures, so more innovative ideas are born.
Job Hunting in Cambridge
If you are not transferring to a job from your previous work, then there is a wealth of different ways of discovering new vocational opportunities. For expatriates looking for jobs in Cambridge before coming over to Britain, it is best to start online. There are a variety of UK-based job sites, including:
- Job section of the Cambridge News,
- Jobsite.co.uk, and
- Recruitment Gateway of the Cambridge Network (for technology jobs).
It’s also a good idea to look for companies and businesses you would like to work for and approach them first, regardless of whether they are advertising for positions or not.
Furthermore, the traditional method of searching newspapers is still a great way to find work in Cambridge, with the Cambridge News having hundreds in their listings.
Income Taxation in Cambridge
Everyone earning more than 10,000 GBP, from expats to those born in Britain, must pay Income Tax on their earnings. In Britain, there is a tax on many things including the money you earn from employment, interest on savings and profits if you’re self-employed.
In the tax year 2014/2015, if a company or business employs you, your income tax will stand at 20% of your earnings above 10,000 GBP. This is called your Personal Allowance. If you earn more than 31,865 GBP, you will pay a higher tax of 40%. If your earnings reach 150,000 GBP or higher, the additional rate of tax is 45%. For more information on this, read on in our article on Taxes in the UK.