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I work downtown, about 15 min walk from WTC and i think at this point I would take up to a 10% paycut to work in Newark. I'd even consider an even bigger cut for one of those 15 min drive commutes. Oh to dream.
Industry, company, and talent count more towards compensation than anything else.
Friend got 250k plus incentives, plus bonus, plus equity for CIO in NYC Securities firm 2 years ago. Bro in law just got 180k in NYC Bank... slightly different industry, different rules, basically same job, MUCH different pay.
I think NYC always pay little more in General, but you gotta factor in NYC city tax around 3-4%.
Really depend on where you live, if you live in NJ, I think take a small paycut will be a no brainer, the amount of time you saved and the headache you go through travelling to NYC will be a killer for me.
You don't pay the city tax unless you live there so that doe snot apply. Also, if the job is in Hudson county, you don't really save much time or money in the commute by public transportation. And driving anywhere to the vicinity of JC or Hoboken every day during the rush hour is suicidal, at least for me. In addition, working in Manhattan is so much more pleasant, at least for me. You can do a lot during the lunch hour or after work and it is the city, not suburbia.
1. I have conducted business in parsippany in the past and one can not pay me more to do business there again. I am not alone in my low opinion of those base rednecks that seem to plague parsippany.
2. I switched jobs from Mid town Manhattan to Newark NJ, got 20k pay raise and now my commute to work is 12 minutes. I also have flexible hours now. In Manhattan it was a fast paced environment, as opposed to me actually doing work today for 45 minutes, the rest of the day I have spend googling stuff.
Typically NYC has to pay 10k more to make up fro commute and tax difference. 20k more if you consider that your commute is longer.
I mean in my last job search I had my share of interviews where employers were trying to convince that I need their b.s. job.
- Job interview in Manhattan, I am to replace an employee who only does 9-5 and never stays late. I said that I only work 9-5 and will not take drug test since I enjoy cannabis.
- Job interview in Manhattan, 3rd round, they can not even meet my min salary expectation. They were trying to sell me their health insurance.
- Job interview in NJ, job has 30% travel and does not pay much more, apparently it has something to do with product management and thus the job title itself is supposed to make me want to sacrifice my time and salary requirements.
It doesn't matter for me. I'm not making anywhere near $120k. I'm just about to break $50k lol. I do administrative work at a midtown office. I've looked around here in NJ for similar jobs, and they do seem to pay less. I also live in Elizabeth. 30 minutes on the train and I'm in the city, and then a 10 minute walk to the office. I have co-workers in parts of Brooklyn and it takes them longer to get to work then I do.
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