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Old 07-16-2018, 03:44 PM
 
218 posts, read 315,334 times
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A company recently reached out to me for a position in NYC. Would $115K - $120K be a comfortable salary to live in the city?

Currently living in Miami, FL where I don't have to worry about state tax. I understand NY has a state tax, and NYC has various other taxes on top of that.

Would I feel squeezed in NYC in that salary range?
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Old 07-16-2018, 03:46 PM
 
Location: New York, NY
7,548 posts, read 2,685,297 times
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Quote:
Originally Posted by CityScape0322 View Post
A company recently reached out to me for a position in NYC. Would $115K - $120K be a comfortable salary to live in the city?

Currently living in Miami, FL where I don't have to worry about state tax. I understand NY has a state tax, and NYC has various other taxes on top of that.

Would I feel squeezed in NYC in that salary range?
Depends on how much you want to pay for rent... One bedrooms can easily run $3,000 so you'd need to be making $120,000 for sure based on the 40x the rent rule. What area do you want to live in?
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Old 07-16-2018, 03:51 PM
 
18,238 posts, read 11,645,412 times
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Quote:
Originally Posted by CityScape0322 View Post
A company recently reached out to me for a position in NYC. Would $115K - $120K be a comfortable salary to live in the city?

Currently living in Miami, FL where I don't have to worry about state tax. I understand NY has a state tax, and NYC has various other taxes on top of that.

Would I feel squeezed in NYC in that salary range?

Whatever net offer is made, deduct off the top 33% (combined federal, state and local NYC taxes). That net amount is more representative of what you'll have to live off here in NYC.


That being said, a salary in range mentioned is enough to be "comfortable". As another poster has mentioned much will come down to sums spent on housing.
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Old 07-17-2018, 10:21 AM
 
Location: Lower East Side, NYC
1,837 posts, read 1,086,754 times
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I've been comfortable on $65k and I've been comfortable on $130k. Depends on your expectations and requirements.

You'll take in around $5-6k a month after taxes and maxed 401k I think. Sounds comfortable to me.
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Old 07-17-2018, 10:33 AM
 
6,810 posts, read 4,420,910 times
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How much are you making in Florida?
Also, how much debt and what type of debt do you have?
Any kids?
Do you rent or own in Florida?
How long do you see yourself in NYC? Have you ever been to NYC? Winters can be brutal.

$115K - $120K is pretty nice if you don't have kids, student loan debt, etc and want to live it up, save and travel.

You can rent in Hoboken to avoid a higher tax rate.
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Old 07-18-2018, 11:34 AM
 
953 posts, read 1,168,811 times
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you can get a nice studio anywhere for $2700-3000 you'll be fine
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Old 07-18-2018, 02:34 PM
 
Location: Confines of the 101 Precinct
19,086 posts, read 32,655,211 times
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Quote:
Originally Posted by CityScape0322 View Post
A company recently reached out to me for a position in NYC. Would $115K - $120K be a comfortable salary to live in the city?

Currently living in Miami, FL where I don't have to worry about state tax. I understand NY has a state tax, and NYC has various other taxes on top of that.

Would I feel squeezed in NYC in that salary range?
If you drink or do drugs, then yes
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Old 07-18-2018, 02:47 PM
 
Location: New York, NY
7,548 posts, read 2,685,297 times
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Quote:
Originally Posted by SeventhFloor View Post
If you drink or do drugs, then yes
LMAO... You are too much.
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Old 07-18-2018, 03:53 PM
 
Location: In the heights
20,109 posts, read 21,722,272 times
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I'm pretty sure everyone here makes a minimum of 200K, so I think you're screwed.
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Old 07-18-2018, 04:06 PM
 
688 posts, read 275,546 times
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What kind of job is it? You want to make sure that's the going market rate for that job.

I think you can get studios for under 2k amonth in boroughs outside Manhattan though you probably won't be close to the subway
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