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I lived there my entire life and recently just left the city, it’s a great place but not a lot of finance roles, relative to the city’s size. If you’re intending to stay in big 4 not a bad place to be. Miami is a very MCOL city. Not on par with LA, NY, or even Chicago. I’d say expect to be in the 70 - 80 range. Live in Brickell. Don’t rely on the metro system in Miami, it’s an absolute joke.
Trust me you don’t want to rely on the Metro system in Miami, especially not alapattah. Used to be a dangerous part of town and it’s slowly gentrifying but there will still be some sketchy stuff going down every now and then. Feel free to DM me. And Crowe just because that’s what apartments are listed for doesn’t mean that’s what Company’s classify Miami as. In my starting class of consultants. I was making less than new hires from Dallas and Minneapolis and slightly more than new hires in Charlotte to give you an idea of where companies peg the COL in Miami.
Brickell has Brickell beach, Virginia Beach (within Biscayne Bay) and they should be around 25 minutes from downtown. Also public transportation? That’s not a thing in Miami. In the sense of public transportation like New York. There’s a metro train some people use but you typically drive to it first unless you live in downtown already but even then you aren’t really near the metro train typically if you live in Brickell. And busses aren’t really reliable like that here. I’ve never seen a bus in the downtown area and they most likely do not run often. Miami is a city where you need a car to get around and can’t really rely on public transportation in my experience. Also, keep in mind 45 minutes is honestly not far out due to traffic especially morning traffic to get to work
My friends who do work in B4 in the miami office typically already had lived in Miami so they live in the suburbs and drive to the first metro stop which is in Dadeland (about 15-20 minutes drive from downtown) and pay for parking there (it’s much cheaper than downtown Miami parking) and take the metro in and then walk to the office. Not a lot of my friends live in downtown but I’m sure people who don’t live in Miami probably stay within walking distance of downtown. There are apartments in Brickell or near the offices as well but they’re expensive I believe (although rent probably went down now due to corona?)
I first worked in the Miami office. In 2018, the starting salary for a new associate in tax was $54k. I think it was a little less for audit. Miami is considered a HCOL office, however by comparison the same new tax associate in Charlotte (MCOL office) started at $52k. Even though Miami is classified as HCOL, it’s definitely not like NYC or LA. And man do I miss no state income tax.
I recommend living in Brickell. Don’t live in downtown, it’s lame and gets sketchy north of Whole Foods (which is at the very south tip of downtown). I lived in Brickell and took the free Metromover into downtown where my office was. Don’t live in South Beach either, you’ll hate yourself for the drive to/from work. Get a roommate and split rent on a 2/2 unless you’re cool with paying north of a $1.5k for a studio.
I’m an audit S2 in Miami but not Big 4 and make $75k plus bonus
Also, I live in Brickell and pay $1725/month rent for a 1 bedroom. It’s more convenient to get to the office than living in the suburbs and I get the full mileage reimbursement when driving to clients (pre-covid). DM if you have more questions!
Ive lived here my whole life as well and I personally recommend that you live in Brickell close by the office and walking to work. Especially if you don’t have a car and planned to rely on public transportation! SA1’s rent is about what u would expect for a 1 bedroom in Brickell I would say!
Hm yeah it’s pretty pricey for parking. The lots near like the Whole Foods and that area are like $5-15/hour so it’s not absurd but it does add up. And not sure if that goes up during the day for work hours pre-Covid and you’ll probably have to get there early to even get parking as well. Best move is live in Brickell I’d say!