Hello
I must therefore decide going future whether my pay should be based on the USD or GBP rate for some strange reason. It’s obviously impossible to predict the future, but because I plan to stay in the UK, what do you think will be the best course of action for me here?
Since you want to stay in the UK, it would be more convenient to have your pay based on the GBP rate. This way, you won’t have to worry about how currency changes effect your revenue. It also makes financial planning and budgeting easier because most of your expenses will be in GBP. However, it is always advisable to contact with a financial expert to weigh all options, including the future economic developments and your long-term financial objectives.
I am based in the UK and use GBP for my expenses, I find it more practical to have my pay based on the GBP rate.
Based on my research, if you have the option to receive your salary in either USD or GBP, I would recommend choosing to be paid in the currency that matches the one you use for your regular living expenses. Taking a salary in the same currency as your bills and costs will help avoid fluctuations in your take-home pay due to exchange rate changes. While the future performance of the USD versus GBP is uncertain, being paid in the currency you spend in will provide more stability and predictability for your finances. Some lenders may also view non-GBP income less favourably if you ever apply for a mortgage or loan in the UK. Unless you have a specific reason to speculate on currency movements, it’s generally advisable to match your salary currency to your cost of living to minimize exchange rate risk. The choice ultimately depends on your circumstances, but aligning your income and expenses in the same currency is likely the safest approach.