In A Study in Scarlet (Which I think is supposed to take place in 1881?), Watsonâs Army pension is 11 shillings and 6 pence a day.
1 Shilling is 12 Pence, thus Watsonâs daily pay is 11.5 shillings.
1 Pound is 20 Shillings. 11.5 x 30 days (Average days in a month) is 345 Shillings a month. Divided by 20 is 17.25 Pounds a month. Times that by 12 months means that Watson met Holmes, his annual salary was about 207 Pounds.
In todayâs money, thatâd be about 32,202 Pounds a year, about 619 Pounds a week, or 2,683.5 Pounds a month. Or about $38,470 a year, about $740 a week, and about $3,206 a month.
Bonus: Both Holmes and Watson were in their twenties when they met. Hell, Holmes was still taking college classes.
According to Murray's Handbook to London As It is, 1879, "âElegantly furnished roomsâ in [the] West Endâ (Which is where Baker Street was) were between 4 to 15 Guineas a week.
207 Pounds a year is a little over 4 Pounds a week.
1 Guinea is 1 Pound and 1 Shilling. 11.5 Shillings x 7 days is 80.5 Shillings a week (Or 4 Pounds and a Sixpence a week), which is 3 Guineas, 19 Shillings, and a Sixpence a week.
At minimum, Watson would probably spend about 2 Guineas on rent a week (If we go with the modern 33% of pay on rent rule of thumb). Going halves with Holmes would bring them right at the low end of the average West End weekly rent.
Other factors would include how much Watson was actually willing to pay for rent vs his weekly salary, his increase in salary with the books sales and medical consultations, and if he and Holmes shared the money they got for solving cases. (We havenât gotten there yet, but if the Granada series is to be believed, at one point Holmes is paid the Victorian equivalent of a little over a million dollars before it got doubled to about 2.5 million.)
In later books, it sort of seems like Holmes takes over paying the whole rent (he was able to live in Baker Street alone when Watson got married, Watson sold his medical practice when he moved back in and he never had one when he lived at Baker Street). *Shrugs*
If you ever wanted to know how much Holmes and Watson payed for rent itâd be about 2 - 7.5 Guineas or 1.05 - 7.88 Pounds a week a piece, which would be 163.34 - 1,225.85 Pounds or $195.13 - $1,464.46 a week a piece today.Â
Most likely, their rent would be closer to the lower range. So, at minimum in todayâs money, 163.34 Pounds a piece ($195.13Â a week, $845.56 a month, and $10,146.76 a year) and 326.68 Pounds together per week. ($390.27 a week, $1,691.17 a month, $20,294.04 a year)
In other words, at the least, in total they pay more than I do.
Historically, the West End is not cheap. Go, Mrs. Hudson.
EDIT: Upon rechecking my figures, I was off on Doctor Watsonâs annual income by about 2-3 pounds. Doesnât really change much though. Also, in todayâs money, Watson was making a little over $106 daily. Or almost 88 Pounds.