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Old 06-24-2012, 07:47 PM
 
Location: oakland / berkeley
507 posts, read 291,978 times
Reputation: 379
Sigh. We're trying to map out Honolulu budget scenarios, but so much of it depends on if we'd have to take a big salary cut. One source suggests that average pay for CPAs is 10-15% less than here in Texas (a recruiting firm's salary guide), while another says 10% higher (salary.com). I have an academic job, and those pay low salaries everywhere in the country. We're both "early career" (under 30) and future salaries will be higher.... but I need to consider if moving to a small city with a tourist-based economy not be the best move and could hurt later on.

San Francisco has similar cost of living, but both of our salaries would be much higher than in HI.

Last edited by wooliemonster; 06-24-2012 at 08:05 PM..
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Old 06-24-2012, 09:00 PM
 
Location: Kailua
4,639 posts, read 3,526,485 times
Reputation: 1828
Quote:
Originally Posted by wooliemonster View Post
Sigh. We're trying to map out Honolulu budget scenarios, but so much of it depends on if we'd have to take a big salary cut. One source suggests that average pay for CPAs is 10-15% less than here in Texas (a recruiting firm's salary guide), while another says 10% higher (salary.com). I have an academic job, and those pay low salaries everywhere in the country. We're both "early career" (under 30) and future salaries will be higher.... but I need to consider if moving to a small city with a tourist-based economy not be the best move and could hurt later on.

San Francisco has similar cost of living, but both of our salaries would be much higher than in HI.
Salary.com is not realistic at all for Honolulu. I wish it was - and it gets brought up to me all the time when we are hiring IT people. My rule of thumb I use is about the same cost of living as San Francisco (I lived there 15 years) with potentially a 30% cut in salary from San Francisco. Obviously, there are a lot of variables - you can do better - you can do worse.

Don't forget coming from Texas - we have that thing called state taxes you don't have in Texas.
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Old 06-24-2012, 09:20 PM
 
Location: oakland / berkeley
507 posts, read 291,978 times
Reputation: 379
I mentioned in another thread that Texas has no state income tax, but the property tax is insane, sales tax is also high, etc. Anyway, yes, my wife is using some sophisticated tax scenario planning software to help set expectations and plan budgets.
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Old 06-24-2012, 09:28 PM
 
Location: Kailua
4,639 posts, read 3,526,485 times
Reputation: 1828
Quote:
Originally Posted by wooliemonster View Post
I mentioned in another thread that Texas has no state income tax, but the property tax is insane, sales tax is also high, etc. Anyway, yes, my wife is using some sophisticated tax scenario planning software to help set expectations and plan budgets.
I found an example of just how far off salary.com is for Honolulu

For a controller - it says the median salary for a controller is $189,000 - way far off realism.

Salary.com Salary Wizard- Do you know what you're worth?

Here, Robert Half is recruiting a controller in Honolulu who supervises 25+ people for $80,000 to $120,000

Robert Half Finance - Search Jobs
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Old 06-24-2012, 09:33 PM
 
Location: oakland / berkeley
507 posts, read 291,978 times
Reputation: 379
Yeah, Robert Half publishes a salary guide that I mentioned above. It has a "COL" factor; national average is 1.00. Both of my wife's positions have been within the range suggested by the guide.

Houston is 1.04. San Francisco is about 1.3. Hawaii is 0.92.

I did look at the postings on their site, and yes, about 10% lower than Houston.
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Old 06-25-2012, 06:54 PM
 
Location: Moku Nui, Hawaii
5,474 posts, read 8,650,448 times
Reputation: 2672
So far, IMHO, Wooliemonster has one of the best "how to make Hawaii affordable" tips and it isn't even put out as a tip.

Number one way to afford to live in Hawaii? MAKE A BUDGET

Another nice thing is to have your paycheck automatically deposited into your savings account with a portion of it automatically ported to your checking account. You'll have a tendency to spend everything in your checking account and completely forget about the savings.
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