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Is life really better in the US?
Hey all, I have an offer with a company in NYC. I currently make ~200k in Seattle, and the offer in NY is about ~300k. Is this a fair offer? I'd love to hear some perspectives of people living in NYC (or even better, those who've moved from SEA to NYC). WA doesn't have any state income tax, and NYC seems to be about ~30% more expensive (COL). Would love any and all insights! Only concerned with the comp here; I understand that the weather/social life/city is different. YOE: 3 #comp #compensation #seattle #nyc #newyork
I’ve never lived in WA but I make a similar TC in NYC (325k) and have always felt comfortable. I have an incredible apartment, savings, retirement, and am on track to FIRE. I also know what it’s like to be here on a low income — 10 years ago, I lived on a salary of $32k. That was much harder, as I had a shitty apartment and could only do free things. But I was still able to pay my bills, have a tiny bit of savings, and maintain a rich and and memorable social life. Two more things to take into consideration: NYC has a city tax on top of the state and federal taxes. I don’t mind it because I take advantage of so many of the city’s “free” offerings, which help me have a rich, cultural life without paying out-of-pocket for everything. Additionally, I don’t know what it’s like in WA but from what I’ve heard, a lot of the no-income tax states have high property and sales taxes to make up for the loss. If you’re a homeowner, you may want to consider that expense when evaluating take home pay and net.
Hey! How much is the city tax? Can you also comment on the "free" offerings? Thanks!
Local tax is like 3-4%? use the paycheck calculator where you can enter the zip code
Sounds about right. Especially for housing, you’ll need to shell out 2-3x for the same living conditions. Or pay 1.5x to commute from Jersey City or somewhere far. The vibe is also different—expect to go out more often than in Seattle, for food and drinks as that’s the culture. Seattle: 200k TC becomes 145k becomes (spend 45k) 100k savings NYC: 300k TC becomes 181k becomes (spend 45k+30% more) 122k savings Its a small bump, if you value living in NYC for all it offers including social life, liveliness, etc it’s not a pay cut:) On the other hand, if you want to chase post-tax savings, or your social circle is mostly in Washington, consider asking for remote or for a WA location team
Appreciate your response - this makes a lot of sense. I'm certainly a big-city person, so I'm leaning towards NY. Have you lived in both WA and NY?
Great! That’s awesome, and sounds like NY is a great opportunity both personally and professionally! I have, but during different phases of my life (as a kid/teen in NYC) so I can’t really comment on many CoL things :P
Why can’t u just use a take home pay calculator?
I did :) That gave me net numbers, but estimates of COL vary a lot across the internet. Figured I'd ask people who'd been through the process.