It's not uncommon, but there are also lots of potential employees that have wives and kids (70% or more, I'd guess)... they're basically locked out unless they

It's not uncommon, but there are also lots of potential employees that have wives and kids (70% or more, I'd guess)... they're basically locked out unless they either want to do a long commute, or live in a tiny place. I've done a lot of hiring to companies both in NY and in other cities, and the "where will my kids play and where will they go to school" is a standard issue for anyone you're hiring over 30. The answer in New York is generally "somewhere a lot less nice than they would if you lived elsewhere." There's little denying that NY rents / housing prices are way out of line with average income at this point. I've heard bankers making $500K complain that they have to move to upstate to get a decent sized house.