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Yes, raises are typically higher in NYC. COL is higher and talent pool is much stronger than anywhere else in the US, so the firm has to pay more to retain it.
Beyond money, the main incentives to being in NYC for FSO are having a good chance at local projects and being close to leadership so you have a better chance of getting pulled into conversations/opportunities.
I’m an SM in FSO tech consulting. Raise percentage depends on business vs tech consulting and specific practice within, as well as firm and practice performance.
The market/merit raise for an SC is typically between about 7 and 15% (though some years it’s higher or lower), and in a promo year you can add 7.5% to that (standard promotion raise percentage). If there are any PPMDs observing who can provide greater precision, I’ll defer to them, but this is what I’ve seen.