Moving from DC to NYC. Having a hard time believe the cost of living calculators as they are saying 80k in dc is equivalent to 120k in nyc. Is this accurate? Also I feel that’s incorrect because of the pretax benefits of having a higher salary. Interested in other insight
How much better did your WLB get after leaving consulting? I’m moving to an internal strategy role at a client. Financial Services - Banking. In consulting - standard day was closing my laptop between 9pm - 10pm and eating dinner at my desk. I’m expecting industry to be better, but not that much. Maybe closing my laptop between 6pm - 7pm? I haven’t been able to ask anyone in the bank what it’s like, as this is a new team. I’m benchmarking on other client strategy offices.
People being let go bc of comparing performance against peers is bs. upgrading the team? how come other rigorous fields (investment banking, medicine, Big Law, oil & gas engineering, trading firms, etc) don’t feel the need to do this, yet they have the right people the teams need every year 😂 consulting isn’t the most rigorous/difficult/or prestigious career. just say it’s for the greed of the firm, at the cost of unempathetically uprooting employees lives & at least you’ll be honest.
Yeah it costs a lot to live here. But it’s worth it
The biggest challenges with HCOL cities like SF/ NYC are taxes and housing. That being said, even after you get past that, your everyday essentials across the board cost a couple dollars more in a lot of cases + surcharges to dine in at restaurants, $15 deli sandwiches, etc. It all adds up over time, especially with higher sales tax. Made a similar move to SF and thought I would be fine, but definitely felt the squeeze the first couple years.
+1. NYC and everyone/everything there will take more of your money.
Dc is as expensive if not more so than nyc.
Yea, you won't be balling out but you also won't feel poor. Really depends on rent
This is true. Made the move a few years ago. DC is just cheaper with everything compared to nyc. My rent in DC was 1600 and in nyc it’s 2200. DC apt much nicer and had amenities. Secondly everything is more expensive (sandwiches, beers, groceries, dinners) so it adds up
That seems surprising since DC is so expensive, but New York is vastly better, so you’re still coming out ahead. Welcome to the city!
The actual COL difference is dependent on your lifestyle. If you're a single person just renting the minimum possible amount of space, the delta isn't actually that high. If you have six kids to support, the delta is much higher.