Related Posts
Will service now offer work from home option
More Posts
What is there to do in DC today (7/7) ?
Additional Posts in Accounting
AirPods - yay or nay?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I haven't done a deep analysis, but I think you will end up keeping more of your paycheck after paying bills.
I would tend to agree as long as you stay out of SoCal, Bay Area and South Florida.
NYC is absolute shit in terms of pay vs COL. Unless you work in Banking/PE/Marketing/Media there is no reason to live here other than love of the city. I moved from Boston, where I had a much higher after tax income (transferred offices at B4) and paid 20% less in rent for a much nicer apartment. Went from saving $3000/mo minimum as a Senior Associate (incl 401k) to a fraction of that now. NYC is more fun though.
In broader, more macro terms - Boston’s median household income is $75K, New York’s is $60K, not even including lower taxes in Boston. Numbeo puts consumer prices including rent as 20% more expensive in New York. So average household probably gives up $25k per year to live in NYC in this scenario (and Boston is a high COL city in its own right).
I’m in a very low COL city and make about $10-13K less than friends in Big 4 in NYC. Associate level. I definitely end up having much more disposable income, but they choose NYC for reasons other than disposable income.
And Colorado is beautiful
Raleigh to DC pay is $5-$10k higher in DC for my position. After cost of living, working in DC I’m making $30k less than I would in Raleigh.
Still valid reasons to do that long run, but yeah, the difference is real.