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It sure feels like VHCOL 😂
PwC does not view it as VHCOL. I think it is actually MCOL (keep in mind this describes cost of labor and not living). We are now on cohorts that are COL adjusted- being in NYC the COL factor is 1.18. For example, Miami is 1.01 and Philly is 1.08, I.e. NYC comp is theoretically 10% higher than Philly. I believe Boston falls near Philly. Hope this helps.
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not sure for CR but usually I see SF and NYC (sometimes LA) as the only VHCOL
Thats insanity with how rents have skyrocketed over there. How is anyone living independently on 50-60K anymore
Genuinely curious then- what is the cohort level in Boston? My understanding is that the only city on par with NYC is SF.
San Jose is 1.18 as well.
Boston cost of labor (aka market related compensation) is considered MCOL. SF is the only VHCOL. HCOL cities are NYC, LA and DC. Again, it’s cost of labor/market compensation as to how our salaries are determined - and not cost of living.
*speaking from KPMG experience. Can’t attest to the other firms.
It’s MCOL at PwC
In line with DC, Philly, Chicago