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Old 12-18-2012, 05:23 PM
 
Location: Philadelphia, PA
8,700 posts, read 14,622,128 times
Reputation: 3663

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Quote:
Originally Posted by BajanYankee View Post
No, it costs less to live in Philadelphia because people there have less money. I mean, anyone who was born and raised in one of the cities and then lived for considerable periods of time in all of them (ahem, me) can attest to this. It's not just real estate that's more expensive, but movie tickets, restaurants, cars, etc. Philly is not attracting anywhere near the levels of wealth that DC is and anyone who believes otherwise is delusional.
So let me get this straight... it costs less to live in Philadelphia because the jobs pay less? What on Earth are you talking about? Do you think all of these companies get together and decide what to pay employees?

There are so many factors that drive the COL in an area that you can't pinpoint it to one thing....

For one, NYC and Boston are COASTAL CITIES... Philadelphia is not. NYC is also the Financial Capital of the country and a status icon/media icon of the world... which all drives up NYC's COL. D.C. is the U.S. Capital... which drives up D.C.'s COL... Boston is the capital of New England and a Coastal city, which drives up Boston's COL.

What is Philadelphia the capital of? It is just a natural growing Northeast city that has had to fend for itself against NYC and DC. It's COL is lower because of several reasons, but because jobs pay less here is not the only reason.

I think it is also pretty ridiculous to say "people in Philadelphia have less money."

DO you actually listen to the words that come out of your mouth? Less millionaires is a lot different than everyone in the metro has less money than every other Northeast Metro.... You need to stop focusing on the top 1% of the country to judge a metro area and judge it by the AVERAGE person.

 
Old 12-18-2012, 05:27 PM
 
Location: Philadelphia, PA
8,700 posts, read 14,622,128 times
Reputation: 3663
Quote:
Originally Posted by BajanYankee View Post
Not as much as DC. According to American Fact Finder, 12.7 percent of households in the Washington-Alexandria MSA earn $200,000 or more compared to 5.5 percent in the Chicago MSA. 43 percent of households in the DMV earn more than $100,000 compared to appromiately 25 percent for thr Chicago MSA.

That's a big difference, no?

And that's not even accounting for the foreign presence in DC.
But $200,000 annual salary will afford you the same things in DC that $125,000 a year will get you in the Philadelphia metro... you're not seeing the point.
 
Old 12-18-2012, 06:45 PM
 
Location: Crooklyn, New York
31,924 posts, read 34,428,353 times
Reputation: 14996
Quote:
Originally Posted by Summersm343 View Post
But $200,000 annual salary will afford you the same things in DC that $125,000 a year will get you in the Philadelphia metro... you're not seeing the point.
Yes, and that's why DC has a higher COL. More money for the same thing.
 
Old 12-18-2012, 06:55 PM
 
Location: Philadelphia, PA
8,700 posts, read 14,622,128 times
Reputation: 3663
Quote:
Originally Posted by BajanYankee View Post
Yes, and that's why DC has a higher COL. More money for the same thing.
You're only looking at one part of the argument and refuse to look at the whole spectrum.. why?
 
Old 12-18-2012, 08:12 PM
 
2,664 posts, read 5,617,447 times
Reputation: 852
Quote:
Originally Posted by Summersm343 View Post
You're only looking at one part of the argument and refuse to look at the whole spectrum.. why?
cuz he's in denial and wants to believe the nyc dream so he can justify to himself that its worth livin there, he wants to believe that heLL make that 1% salary in nyc some day, which is soooo common there according to him
 
Old 12-18-2012, 08:32 PM
 
2,664 posts, read 5,617,447 times
Reputation: 852
this kinda offtopic, but are philly rents rising? if yes, by how much and how often?
 
Old 12-18-2012, 09:15 PM
 
Location: University City, Philadelphia
22,634 posts, read 14,871,730 times
Reputation: 15932
Quote:
Originally Posted by BajanYankee View Post

An argument could be made for that. But Boston is very strong in that regard as well with the Berklee College of Music and other performing and visual arts institutes.
I would suggest that Curtis is the more prestigous and reknowned music school.
 
Old 12-18-2012, 09:19 PM
 
Location: Philadelphia, PA
8,700 posts, read 14,622,128 times
Reputation: 3663
Quote:
Originally Posted by Clark Park View Post
I would suggest that Curtis is the more prestigous and reknowned music school.
Yes, why in fact it is
 
Old 12-18-2012, 09:26 PM
 
Location: back in Philadelphia!
3,263 posts, read 5,627,778 times
Reputation: 2120
Good grief, might as well just move this thread to the city vs city forum already.
 
Old 12-18-2012, 10:17 PM
 
187 posts, read 348,878 times
Reputation: 79
Quote:
Originally Posted by BajanYankee View Post
I'm sure my info is right.

Dechert and Morgan are not "very global firms." Skadden is "very global." Cleary is "very global." Having a Beijing office with five attorneys does not make a firm "very global," particularly when labor and employment litigation is its bread and butter.

Boston's legal market is more on par with San Francisco's or Chicago's with Morrison & Foerster ("MoFo") and Kirkland & Ellis leading the pack in those cities, respectively. Wilmer Hale (which used to be two separate firms - Wilmer Cutler in DC and Hale and Dorr in Boston) and Ropes & Gray are peers of Kirkland and MoFo. Morgan Lewis, which is Philly's most prestigious law firm, is ranked a good ways down from those firms. It has more regional attorneys rather than the deep ranks of Ivy League plus attorneys you find at Wilmer and Ropes (with the exception of Penn). And in the legal market, pedigree (i.e., law school, class ranking, clerkship, firm prestige) more often than not determines the trajectory of your entire career.

Wilmington is a completely different market.
No your info is not right. Not to mention some other stuff you said earlier about bonuses was way off. I know because I was working at one of these law firms we are talking about until recently. This is a completely irrelevant conversation, and for some reason in a conversation about cost of living you keep focusing on prestige and high salaries and which city has the most expensive neighborhoods and highest ranked law firms (a prestige fetish perhaps?). And you repeatedly condescend to Philadelphia compared to its East Coast neighbors. Philly has never been a city to toot its own horn going back to its very beginning, but it has a lot of old money, new money, high paying jobs, prestigious universities, prestigous and profitable companies located in the area, a long tradition of producing excellent lawyers, etc. But the conversation is not supposed to be about what city is most full of itself though - Boston surely has that crown.

Dechert and Morgan are global firms. I know these aren't White & Case global firms, but they are still top 50 firms with substantial international presences. You bring up small Beijing offices and ignore big offices in the UK and Europe. And I'm not sure why are condescending about employment law. Or why you dismiss Wilmington out of hand as it is part of the Philly metro. Unless you have some stats about the legal market, please lets let this conversation die.
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