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Do you think it is true that a city(like New York) with a higher cost of living pays higher wages to compensate. Or is that just a myth.
(I realize this is a very general question but I still wanted to ask it and get some general ideas on the topic.)
I am wanting to move to New York and change careers but I am not sure at this point what I want to do. Maybe a trade school or go back to school. So for a while, I may have to rely on customer service jobs or even restaurant work to support me and my 2 kids. Do those jobs basically pay minimum wage or a little better?
Also, any suggestions on careers, industries that are in demand? I know with the economy, things are not great anywhere but I still need to try.
Myth mostly. The wages are indeed higher than other places, but the cost of living diminishes this, in fact, if you factor in the cost of living New Yorkers are compensated less than most other major cities in the country. The fact that cops and firefighters are pretty much living poor is signal to the course this city is going to take if the cost of living doesn't drop.
If you have a high-end job, like banking, media, or Big Law, the salaries are much higher than elsewhere. It's not true of every job however. I think the elite of almost any non-union profession makes more, but you're talking about the best people in a given field. I know waiters who clear six-figures. Top-flight legal secretaries make more than an attorney would in a small town.
New York is kind of like the old quip about Broadway: You can't make a living, but you can make a killing.
Social Services jobs pay pretty much the same as other cities from what i've seen. Factor that with the cost of living then anyone in that profession will have a hard time surviving here.
So of course I have the age old question, how does anyone pay their bills living in a big city like NY, LA, or even Chicago. ...???
Chicago is far cheaper than New York. It's ultimately all about housing costs. Everything else is fungible.
In Chicago you can get a nice one bedroom in a good location for around $1,000. You can't do that in New York. You can find something in the Bronx, but not in a cool neighborhood in Manhattan or Brooklyn.
Do you think it is true that a city(like New York) with a higher cost of living pays higher wages to compensate. Or is that just a myth.
(I realize this is a very general question but I still wanted to ask it and get some general ideas on the topic.)
I am wanting to move to New York and change careers but I am not sure at this point what I want to do. Maybe a trade school or go back to school. So for a while, I may have to rely on customer service jobs or even restaurant work to support me and my 2 kids. Do those jobs basically pay minimum wage or a little better?
Also, any suggestions on careers, industries that are in demand? I know with the economy, things are not great anywhere but I still need to try.
Thank you
It's a myth to an extent. Some fields pay extremely well here and generally people on the high end of the career ladder have very nice salaries so people seem to get caught up in that, but many fields actually pay just okay or even underpay. Generally the job market here is an employers dream. They get to pick from a very large pool so they can almost always pay less and give less benefits.
As for suggestions, right now the best fields are the traditionally stable ones, i.e. healthcare, accounting, things like that.
Myth mostly. The wages are indeed higher than other places, but the cost of living diminishes this, in fact, if you factor in the cost of living New Yorkers are compensated less than most other major cities in the country. The fact that cops and firefighters are pretty much living poor is signal to the course this city is going to take if the cost of living doesn't drop.
After their last raise cops do pretty well now. Not saying they are "balling" but they are paid adequately now IMO.
Last edited by NooYowkur81; 08-08-2009 at 07:58 PM..
So of course I have the age old question, how does anyone pay their bills living in a big city like NY, LA, or even Chicago. ...???
I agree that a lot of mid-senior and senior management positions pay well here, (+$100K), but the semi- and low-skill jobs do not. Also, professional services people like lawyers and accountants do well because of the very high hourly fees they can command. And of course, Wall Streeters, though fewer in number and generally reviled, get paid handsomely - and that's not just the bigwigs. Everyone earns bonuses. Civil servants with several years of seniority earn a decent salary too.
As for the question of how "normal" people pay their bills, keep in mind that many native NYers and others who have lived here many years have much lower housing costs due to either a rent controlled apartment or by buying their residence many years ago when costs were dramatically lower. A person making $50K per year can live well if he bought his co-op apartment years ago for $50K or got into a rent-controlled apartment and is only paying $500/mo in rent.
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