what to choose---high salary and high cost living or low salary and low cost of living?? (Memphis: rent)

[fatbench]

what to choose---high salary and high cost living or low salary and low cost of living??

for example, here in TN we dont have state income tax and housing are relatively cheap, will you choose living in such a place like TN and other low cost living states with lower salary or you rather go to some high cost living states like NY or CA for better paying jobs?

What is your opinion or experience on that??

[blasianFMA]

Well I currently live in Memphis, but have plans of moving away from here, not because of cost of living or pay from a job, but simply because anywhere is better than here. San Diego vs. Memphis? San Francisco vs. Memphis? NYC vs. Memphis? Come on now... Besides cost of living/ salary, you have to consider the social scene, extra curricular activities, clubs, hang out spots, attractions, people, diversity. Memphis is not high up on the food chain in that respect.

[joninclay]

Originally Posted by blasianFMA

Well I currently live in Memphis, but have plans of moving away from here, not because of cost of living or pay from a job, but simply because anywhere is better than here. San Diego vs. Memphis? San Francisco vs. Memphis? NYC vs. Memphis? Come on now... Besides cost of living/ salary, you have to consider the social scene, extra curricular activities, clubs, hang out spots, attractions, people, diversity. Memphis is not high up on the food chain in that respect.

But if social scene, clubs, "diversity", etc., aren't important to a person, then no...you don't have to consider that.

To fatbench: There is no right answer. If you like where you are, then stay. If you don't, then move. If you could stay or leave and don't have a problem doing either one, then look around and see what gets your fancy.

[expatnortherner]

Having lived both here's my take:

The Bad:
- $3000+ a month rent is no joke. Yes you make more but falling behind is painful. I have friends that made in excess of $100k now scrambling to find work before the next rent cycle. This is stress you just don't have here. Note, what I paid for a parking space I now pay for a mortgage. There's something to be said for that.

- Stress. NYC is ALL business. A typical work day starting at 7:30am, and ended at 7:00pm. As Gordon Gecko says, money never sleeps. Your kid sick? Too bad. Your wife sick? Sorry to hear it. You not feeling well? Sucks to be you. Money is unforgiving to health and family problems.

- 2 and 1/2 hour commute to go 20 miles!

- Noise, all day and night.

- English is a second language. Better have a repertoire of other languages to communicate effectively.

The Good

- DIVERSITY.

- Top shelf restaurants and nightlife

- High quality decadence (if you're into that sort of thing).

- High competitiveness

- Opportunity (in the South the mantra is "be glad you have a job" in the north it's "********** job").

Ex-Pat

[MysteryMT]

It really isn't as cut and dry as that. The fact is that a productive city should be bringing in those higher paying jobs regardless of the cost of living. There are countless other sites outside of California and New York that have prospered and maintained a lower cost of living. Normally I'd try to tie Charlotte into this, but we just lost Wachovia so I'll leave that out...

The fact is, is that there are jobs in Memphis that offer the opportunity for high salaries. It's a personal choice when it comes to cost of living and it ties in directly to 'quality' of life.

[cfsusan]

Higher salary and higher cost of living is better because if you make more you can save more and then retire in a low cost of living area.

[fatbench]

Dont agree there. Saving for retirement means live the best part of life without really enjoying the life. Who cares how much you have saved for the life after 65 or 70? I prefer live in a low cost area and have my own house when I am still young.

Originally Posted by cfsusan

Higher salary and higher cost of living is better because if you make more you can save more and then retire in a low cost of living area.