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Absolutely. Remote work is priceless. And you could probably live somewhere cheaper / with lower taxes so your take home would likely improve
yeah I do not think you’d see much of a difference in your paycheck tbh. Remote is worth it
Right now: Yes
3-5 yrs ago: no
Bowl Leader
Depends on what you want from your lifestyle. Not all cities can provide you the same as NYC. So that’s the premium. With that said , I can live in Dallas or Atlanta type of city and get more out of my comp and save more- if that’s your goal.
So figure out what “live wherever “ means to you and what cities you are considering. How much of that nyc lifestyle you will have to give up vs the financial gains. The question is very broad
Chicago is perfect for that for what it’s worth. Cities that are very sprawled are much less walkable
In a heartbeat
If you’re going from 2 days to fully remote, I would think about:
-how bad is your commute that fully remote work makes it worth it? (If it’s more than 30 minutes I can see it being worth it, I hit my breaking point at 1 hr 20 min each way back when I was 5x/week)
-the 3 days you don’t need to be in office: is work super busy when you’re home? Are you still allowed to work in another state?
-do you have flexibility to choose what days you’re in office vs remote? (I’m assuming you’re tuesdays and Thursdays) - getting to choose mondays / Tuesdays or thursdays / Fridays let you have extended vacations
-if you fully remote, do you think your life will dramatically change in how you spend your time? Do you do enough errands at home like cooking and cleaning and laundry and etc that it’s worth it to you?
-what else are you giving up outside of the 25k pre-tax like 401k matching / annual bonus / other benefits that you regularly use?
-your job right now: are you “chained” to a desk 9-5 or even more where you don’t have any flexibility? And will this new job provide more time for you to do other things?
I say this as someone who loves being fully remote but also know it’s not for everyone, I’ve even left a fully remote job at one point bc at the time I needed just a bit more human interaction (now I’m fully remote but I have a lot of responsibilities at home / in my family so it’s absolutely worth it).
If your job is pretty cushy now, then that extra 25k pre-tax you have now with your current schedule could be worth it if you want to make the most of your time by going on regular weekend trips with your wife, using your home days to run errands during your regular work hours, etc.
Even more so - are you and your wife going to have kids in the next 2-3 years? That might also have to be a big factor in your decision, whether the 25k is important or being fully remote.
Go to argentina and live like a millionaire
Of course! But every individual is different though!
If you’re saying you have to be in the office twice a week in NYC, I’d say take the hit. Move somewhere with lower COL/taxes and that will cover most of the cut.
WFH is really priceless.
Hmm that money will go a long way in a lot of states but 2 days in office ain’t too bad especially if it ain’t strict. If you’re ready to start a family or buy a home do it if not you can keep looking but remote opportunities don’t come by anymore so might as well take it and hope for a raise or promo
100%
No brainer. Take it.
Hundo
Even if you want to still live on nyc you could even live farther away.
Hail yeah!
Mentor
NYC tax (state + city) is 10% and Jersey city is 6%). Doing the math, $205k in NYC is effectively $128k take home. $180k in jersey city is $122k take home: $500/month or $115 per week difference. Excluding the cost of rent, you will probably save that avoiding the train and buying coffee or lunches.
Definitely, as long as you are willing to move somewhere that that makes the pay decrease a wash
That’s not that bad of a difference tbh. You can move somewhere significantly more affordable. Can you share what role/type of exit?
Yes
1000% but if you are planning to stay in NYC and just go remote there, no. Go remote , take the cut, IF you plan to move or spend ample amount of time elsewhere