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NYC office worker making 100k gross: Taxes: 34k Rent $30k Commute $2.5k Lunches/snacks $4k Clothes $2k Which leaves 27.5k for fun (or 401k contributions) Move
by gbronner 6y ago
NYC office worker making 100k gross:
Taxes: 34k
Rent $30k
Commute $2.5k
Lunches/snacks $4k
Clothes $2k
Which leaves 27.5k for fun (or 401k contributions)
Move this person to work remotely from Texas and you get:
Taxes: 25k
Rent 18k
Lunches/Snacks: 2k
Clothes: 1k
Which leaves 54k
You could argue some of my costs, but it is going to be hard to keep talent in high cost superstar cities if they have the opportunity to make nearly as much somewhere else.
- cardiffspaceman 6y agoIf this person stays in the same job with the same company but works from a different location, they will probably get a CoL adjustment of their salary due to the lesser CoL in Texas. It has happened to colleagues of mine when a location has closed and the employees laid off or moved to different locations. Likewise if they quit the New York job and find the like job in Texas, the pay won't be as high. And small companies know the same facts and enact the same policies.