4 ms·

NYC is actually amongst the lowest for Cost of Living adjusted salaries out of all the major tech cities: https://hired.com/state-of-salaries-2017 https://hire

NYC is actually amongst the lowest for Cost of Living adjusted salaries out of all the major tech cities: https://hired.com/state-of-salaries-2017 https://hired.com/state-of-salaries-2017 Rent isn't exactly cheap in NYC

spyspy 9y ago
Here's the 2018 report: https://hired.com/state-of-salaries-2018 https://hired.com/state-of-salaries-2018
humanrebar 9y ago
The problem with these numbers is that adjusting an entire salary for cost of living only makes sense for people living paycheck to paycheck. The real question is how much wealth a tech worker can accumulate in each city. If you're saving 10% a year no matter where you live, you're best optimizing for salary and ignoring cost of living.
- closeparen 9y ago
  Except that saving 10% makes you a homeowner in some places and a roommate in others. If you view your job as temporary pain and plan to relocate or retire before starting “real life,” that makes sense. If you’re trying to build a long-term sustainable and fulfilling life that includes a tech job, not so much. Nominal value in a bank account is useless; you need purchasing power.
  - humanrebar 9y ago
    Well, the argument is the same with respect to most consumer goods. The new XPS 13 is the same price in Wyoming and San Fransisco. Adjusting the electronics budget of a household for cost of living generally doesn't make sense, which was my actual point.
    - closeparen 9y ago
      What kind of household is spending enough on consumer goods for that to matter? I am not exactly thrifty or a Luddite, but electronics, clothes, etc. have never been more than 5% of my spending. I don’t feel comfortable spending on travel at all given the Herculean savings targets needed for an emergency fund or down payment here. Rent is 67% of my outflows, followed by food (my main luxury purchase is not having to cook). Regardless, good cost of living calculators don’t just take the ratio of housing prices, they use a typical consumer’s basket of goods, some of which may be the same price.

spyspy 9y ago

Here's the 2018 report: https://hired.com/state-of-salaries-2018 https://hired.com/state-of-salaries-2018

humanrebar 9y ago

The problem with these numbers is that adjusting an entire salary for cost of living only makes sense for people living paycheck to paycheck. The real question is how much wealth a tech worker can accumulate in each city. If you're saving 10% a year no matter where you live, you're best optimizing for salary and ignoring cost of living.

closeparen 9y ago
Except that saving 10% makes you a homeowner in some places and a roommate in others. If you view your job as temporary pain and plan to relocate or retire before starting “real life,” that makes sense. If you’re trying to build a long-term sustainable and fulfilling life that includes a tech job, not so much. Nominal value in a bank account is useless; you need purchasing power.
- humanrebar 9y ago
  Well, the argument is the same with respect to most consumer goods. The new XPS 13 is the same price in Wyoming and San Fransisco. Adjusting the electronics budget of a household for cost of living generally doesn't make sense, which was my actual point.
  - closeparen 9y ago
    What kind of household is spending enough on consumer goods for that to matter? I am not exactly thrifty or a Luddite, but electronics, clothes, etc. have never been more than 5% of my spending. I don’t feel comfortable spending on travel at all given the Herculean savings targets needed for an emergency fund or down payment here. Rent is 67% of my outflows, followed by food (my main luxury purchase is not having to cook). Regardless, good cost of living calculators don’t just take the ratio of housing prices, they use a typical consumer’s basket of goods, some of which may be the same price.