5 ms·
your living expenses get factored into your pay, it's why you (at least used to) hear of secretaries in nyc making over 150k. most of it goes to rent and other
by toiletaccount 5y ago
your living expenses get factored into your pay, it's why you (at least used to) hear of secretaries in nyc making over 150k. most of it goes to rent and other living expenses.
- actually_a_dog 5y agoIt is? So, there's an adjustment for people with families, then? And that adjustment gets larger for people with bigger families? Although I truly don't know the details here, what you are saying is not logically consistent with how these types of things are typically implemented. It's just "you live $HERE, so you make $THIS_MUCH," with no actual regard for expenses.
- creato 5y agoThe relationship isn't direct, but it ends up roughly working out this way, because whenever a company has a choice between two or more candidate employees, they bid the salary down to the point where one of them walks away. The point at which walking away happens is going to be related somehow to the cost of living in that location. There are a lot of idealizations in that explanation, as I said it roughly works out this way.
- toiletaccount 5y agothe market does the factoring for them. to acquire the talent they want in a place like nyc they have to at least pay them enough to live close by. its a lot more expensive there than most other places. this until recently was a factor that affected everyone in the office, because they all have a certain amount taken out of their checks from society just to be in the proximity of their employer. their families are their own business.