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I'm getting a great job offer in DC with the government.
I currently live in memphis. I need help in making this decision.
CURRENT FACTS:
1.I currently have a great job in Memphis with good pay
2.I have a 3-bedroom house which I bought 5 yrs ago in the 2nd best suburb around memphis where I pay 1200/month mortgage
3.I'm single
4. I currently earn btw:65,000-85,00/yr in memphis
5.There is no STATE INCOME TAX in TN,only 25% FEDERAL TAX!
QUESTIONS:
1.Would it be worth moving over to DC?
2. What salary range would allow me to live same life in DC?I know DC is very expensive!
4.What areas would be safe and great for a single young professional like me
GraceLand Elvis
Last edited by gracelandelvis; 12-08-2010 at 11:56 AM..
There are plenty of cost-of-living calculators out there that will give you an idea of the salary you'll want. I plugged in a salary of $75k to one and it came back with $114k--but I think that sounds low.
If you have a great job and a house in a great area, why are you looking to move? Financially, I doubt a move to DC is smart, so you'll need to factor the intangibles into the equation.
DC's COL is way higher than Memphis. If you want to live in the "second best suburb" of DC, you're looking at a place like Potomac or McLean. Those are very expensive places where you better be making well into 6 figures to afford a 3-bd house in.
Also, note that the DC metropolitan area is many times larger in population than the Memphis area.
Last edited by BigCityDreamer; 12-08-2010 at 02:12 PM..
Caliterp07,
My current job is great but its mainly grant-based hence the constant worry.
But besides that I'd love to explore the new "once in a lifetime opportunity" at the particular organization in DC.
Btw:I'm a Software Engineer with 10+ yrs of experience,we're yet to discuss the salary though.
They tried to bring the salary issue up last time but I requested time to do abit of research before negotiation.
...we're yet to discuss the salary though. They tried to bring the salary issue up last time but I requested time to do abit of research before negotiation.
Unless this is a boutique agency or your skills are uniquely specialized, your odds of successfully negotiating a gov't salary are limited. If the position's salary isn't higher than your current one, at best, they'll match it. Did you formally apply and compete for this position? If so, you should know grade/salary.
You'll be shocked by the COL here. Regardless, there are endless opportunities and if you're a fed employee who's ambitious, even more opportunity.
If you'd like to own a 3 bedroom house in a decent suburb with an hour or less commute, budget at least $400-500k ($300k as a minimum for townhomes within an hour). If you're okay renting a townhouse or apartment in the suburbs, budget anywhere from $1800 to $2500/month for 2-3 bedrooms.
That's going to be your biggest increased expense. Everything else will be slightly more expensive, but not as drastic as housing.
I'm guessing you're in your early 30's? You may want to look at Alexandria if you're looking for nice suburbs. It's filled with late 20s/30s professionals, and Old Town is super cute/charming. Depending where in DC your job would be, you will probably be able to determine if you'd rather be in a Maryland suburb or VA one. Traffic is a nightmare here, so being as close to your job as possible cannot be over valued.
Unless this is a boutique agency or your skills are uniquely specialized, your odds of successfully negotiating a gov't salary are limited. At best, they'll match your current salary. Did you formally apply and compete for this position? If so, you should know grade/salary.
You'll be shocked by the COL here. Regardless, there are endless opportunities and if you're a fed employee who's ambitious, even more opportunity.
DC is a much more vibrant, cosmopolitan city than Memphis, so unless you're just jonesing to get out (which it doesn't sound like you are) or it would be an incredible resume booster, then I wouldn't take it. To move from one city's suburbs to another, and wind up going from a 3 br down to a studio / 1 bedroom for the same price, I'm not seeing the value.
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