Do salaries compensate for the higher cost of living? (Boston: to buy, schools)

[AtkinsonDan]

Originally Posted by EconHusky

That's the problem. The hours and commitment to work, also considering the typical commute, required to live well in Boston takes away from the time left to enjoy the benefits.

Originally Posted by Dm84

Pretty much. By the time the weekend rolls around all I have time for is the errands I can't run during the week, and basic upkeep of my house. I estimate I use a week's worth of vacation days a year just to take care of basic things that can't be done on the weekend. If I actually had family in the area I'd be screwed because I'd never have time to do anything.

Exactly, the congestion and crowding in eastern Massachusetts prevents people from effectively completing errands during lunchtime or other break times during the work day. Then the weekends become the time for errands eliminating any time for substantial recreation and local travel.

[EconHusky]

Originally Posted by AtkinsonDan

Exactly, the congestion and crowding in eastern Massachusetts prevents people from effectively completing errands during lunchtime or other break times during the work day. Then the weekends become the time for errands eliminating any time for substantial recreation and local travel.

So then, why do so many do it? That is something I question every time I pay my rent. Moving to Boston was so cool until I started paying almost $3 per sq. ft to live by my work, or suffer a painful commute that would drive me insane. What's worth more- paying half the salary you work for to have normal hours of commute to said work, or commuting long distances to save money but lose time? I'm starting to think that people just force themselves to deal with it- the "it is what it is" attitude. It just sounds cool to live and/or work in Boston, and the culture can be enjoyable for those that have the time and money to enjoy it- or those that are still students.

I'm a person who asks "why?" about almost everything, and that confuses my coworkers who all pay ridiculous rent costs or commute up to 2hr by car or rail

[irishgirl49]

Just this past year, my parents made the move from NYC to the midwest. They have become exponentially less frugal since moving because of the substantially lower cost of living. Being originally from NYC, Boston seems bad, but not the worst. But I have been living in Pittsburgh for college for the past few years, and this city is pretty inexpensive. Part of me is afraid that I will not be able to keep up my quality of life there as easily as I have here in Pittsburgh.

I am graduating with a double major in chemical engineering and biomedical engineering, and I want to work in biopharmaceuticals. Boston is the best city in the world for me to do that. But the average chemical engineer coming out of my school makes $72,000/yr, and many of them are moving to Texas (oil) where the cost of living is super low. And that is a lot of money to ask for. I have been asked numerous times what my desired salary is, and every time I lowball myself (at least compared to my classmates). Reading this thread has made me realize that I should shoot higher, because I am going to need it.

[kingeorge]

Originally Posted by EconHusky

So then, why do so many do it? That is something I question every time I pay my rent. Moving to Boston was so cool until I started paying almost $3 per sq. ft to live by my work, or suffer a painful commute that would drive me insane. What's worth more- paying half the salary you work for to have normal hours of commute to said work, or commuting long distances to save money but lose time? I'm starting to think that people just force themselves to deal with it- the "it is what it is" attitude. It just sounds cool to live and/or work in Boston, and the culture can be enjoyable for those that have the time and money to enjoy it- or those that are still students.

I'm a person who asks "why?" about almost everything, and that confuses my coworkers who all pay ridiculous rent costs or commute up to 2hr by car or rail

Why? Because most often it is hard to find comparable jobs anywhere in the rest of US. And simply because market is non-existent, underdeveloped, you are overqualified, or you be trading same overpriced area and COL, for another one.

Then, of course, if have family, and you have kids on top of it, moving away gets even more complicated because it is not just about you, and what you want, but what is optimum for all involved.

This area certainly has its minuses, but overall all, for family oriented people who can afford it, this is pretty good place to be.

I advise younger folks to be honest in their assessment of their future earning potential, and act accordingly. Living in "cool" area while struggling to survive, is not actually cool at all. Do not waste your life. There are always greener pastures. And, for many those greener pastures happen to be in MA.

Cheers.

[Louisville Slugger]

Originally Posted by kingeorge

If you can have job and home outside or close to 495 you are in pretty good shape for MA, due to lower costs of living.

That is me dude. I work and live right near 495. I spend probably 2 hours in my car a week commuting to and from work. I typically don't work more than 40 hours a week. I can happily drive into the city on the weekends or after work if I want to, or run errands during lunch time.

[EconHusky]

Originally Posted by irishgirl49

Just this past year, my parents made the move from NYC to the midwest. They have become exponentially less frugal since moving because of the substantially lower cost of living. Being originally from NYC, Boston seems bad, but not the worst. But I have been living in Pittsburgh for college for the past few years, and this city is pretty inexpensive. Part of me is afraid that I will not be able to keep up my quality of life there as easily as I have here in Pittsburgh.

I am graduating with a double major in chemical engineering and biomedical engineering, and I want to work in biopharmaceuticals. Boston is the best city in the world for me to do that. But the average chemical engineer coming out of my school makes $72,000/yr, and many of them are moving to Texas (oil) where the cost of living is super low. And that is a lot of money to ask for. I have been asked numerous times what my desired salary is, and every time I lowball myself (at least compared to my classmates). Reading this thread has made me realize that I should shoot higher, because I am going to need it.

Seriously pay attention to the average salaries in the area and always ask for more than that- it'll be much higher in Boston than in Texas due to the cost of living. That's a cool field to work in- mine is similar in some ways in that we interact with those companies regularly. An employer can always say no and offer less, but you won't make your way back up after asking for a lower amount. Good luck finding your first post-college job

[Dm84]

Originally Posted by EconHusky

Seriously pay attention to the average salaries in the area and always ask for more than that- it'll be much higher in Boston than in Texas due to the cost of living. That's a cool field to work in- mine is similar in some ways in that we interact with those companies regularly. An employer can always say no and offer less, but you won't make your way back up after asking for a lower amount. Good luck finding your first post-college job

Or an employer can tell you to go take a hike.

[EconHusky]

Originally Posted by kingeorge

Why? Because most often it is hard to find comparable jobs anywhere in the rest of US. And simply because market is non-existent, underdeveloped, you are overqualified, or you be trading same overpriced area and COL, for another one.
[trimmed]
I advise younger folks to be honest in their assessment of their future earning potential, and act accordingly. Living in "cool" area while struggling to survive, is not actually cool at all. Do not waste your life. There are always greener pastures. And, for many those greener pastures happen to be in MA.

Cheers.

I do agree that this is a great place to be- with or without a family- if affordable enough.

What earning potential do you think makes sense for a life in Boston? I really don't know my earning potential because it varies so widely depending on location and company, but I can get a general idea based on where I currently work. Not a clue if I'm where the greener pastures are yet.

Also, something I really wonder about/question is the commute. Costs and benefits of commuter rail in/out of the city vs. paying more to live in it.

[EconHusky]

Originally Posted by Dm84

Or an employer can tell you to go take a hike.

I suppose they could, but many have no problem offering much less just to see if they can snag a good catch It's still not a good market for recent grads anyway.

[Dm84]

Originally Posted by EconHusky

I do agree that this is a great place to be- with or without a family- if affordable enough.

What earning potential do you think makes sense for a life in Boston? I really don't know my earning potential because it varies so widely depending on location and company, but I can get a general idea based on where I currently work. Not a clue if I'm where the greener pastures are yet.

My personal opinion for Boston metro is $50,000/year with roommates or $75,000/year without roommates. Sure people get by on much less but my personal experience is it's not worth it.

Also, something I really wonder about/question is the commute. Costs and benefits of commuter rail in/out of the city vs. paying more to live in it.

Way too many variables here. IMO it's not worth it for a single person to live in the suburbs to save money if you have to commute to Boston. Others will disagree with me