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Old 10-15-2010, 10:31 PM
 
Location: New York, NY
66 posts, read 140,183 times
Reputation: 18
Default Salary Adjustment? Chicago to New York

I'm moving to NYC from Chicago and will likely get a job that is pretty comparable in terms of requirements, function, field, etc. How much more should I expect my new salary to be to account for the difference in cost of living in NYC?
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Old 10-17-2010, 09:11 AM
 
Location: NYC, NY
165 posts, read 365,936 times
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salarydotcom has a pretty interesting cost of living calculator. Of course many factors will affect this, but based on a $100,000 per year salary in Chicago, the website says that the cost of living in New York is 41.1% higher than in Chicago so you'd need to make about $141,000 here to keep things equal.

It also stated that employers in NYC typically only pay about 10% higher than employers in Chicago. So you should only expect about 10% more here to do the same job. As you can see, you get more for your money in Chicago than in NYC.

Of course this all depends on your lifestyle and expenses. It's very possible to have lower rent in NYC than you're paying in Chicago and end up saving more money here at the end of the month. You can probably do your own personal calculations using those percentages I found on salarydotcom.
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Old 10-17-2010, 09:15 AM
 
Location: NYC, NY
165 posts, read 365,936 times
Reputation: 228
I just realized, I have to mention that the above stats are all very relative. My company has a branch in Chicago and one in NYC (among others), and entry-level positions at the Chicago branch pay just under $25,000 per year whereas in NYC they are paid $46,500 for the same entry-level position. This represents a nearly 100% increase in salary! So really it all depends on the job.

I'm probably being no help to you at all. :-/
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Old 10-17-2010, 10:07 AM
 
Location: Staten Island, New York
3,229 posts, read 3,264,106 times
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I think epodunk can give you info as well
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Old 10-19-2010, 08:12 AM
 
Location: New York, NY
66 posts, read 140,183 times
Reputation: 18
Thanks for your input-- Part of why I asked the question on here is that I too came up with wildly different figures in my research. I've looked on salary.com and payscale.com and they always seem to over estimate what I should make in Chicago, so I'm hesitant to trust what they say I should make in New York. Bottom line, though, is that people do seem to think that the salary should be more?

When NYC employers ask what my current (Chicago) salary is, they'll understand they can't just offer me the same amount, right?
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Old 10-19-2010, 11:11 AM
 
Location: Staten Island, New York
3,229 posts, read 3,264,106 times
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They can offer you whatever they want. It's an employer's market.
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Old 10-20-2010, 10:04 PM
 
Location: Astoria, Queens, you know the scene
719 posts, read 1,449,660 times
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They can offer you whatever the market dictates. If you don't take it and there is someone that is equally qualified (likely in this market), then the job goes to them - simple. If you have some highly specialized skill that is hard for them to find, you obviously have more leeway in your salary requirements.
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Old 10-21-2010, 09:25 AM
 
Location: New York City
3,442 posts, read 2,596,458 times
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Quote:
Originally Posted by nickasarbata View Post
It also stated that employers in NYC typically only pay about 10% higher than employers in Chicago. So you should only expect about 10% more here to do the same job. As you can see, you get more for your money in Chicago than in NYC.
I think this pretty much summarizes it. Some jobs and professions will undoubtedly pay more in New York...in select cases significantly more. But I think the vast majority of jobs aren't going to pay a lot more than they would in Chicago or any other major city. Certainly not enough of a difference to offset the huge cost of living delta.

You really do just pay more and get less.
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