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How much money would it take to relocate?

Home ▸ Archive ▸ Serious Business ▸ How much money would it take to relocate?
Q

queencitybuckeye

Senior Member

7,117 posts
Aug 24, 2012 1:50 PM
http://www.bestplaces.net/col/ provides a decent general guideline.
Aug 24, 2012 9:50am
sleeper's avatar

sleeper

Legend

27,879 posts
Aug 24, 2012 1:51 PM
4cards;1253584 wrote:...if it's NYC, you'll starve on 100,000
False. Entry level analysts in IB at Goldman is like 80-90k + bonus. Ask them if they are starving. :rolleyes:
Aug 24, 2012 9:51am
like_that's avatar

like_that

1st Team All-PWN

26,625 posts
Aug 24, 2012 1:59 PM
Automatik;1253648 wrote:wtf kind of vague post is this? Out of state, but could be anywhere?

I'd move practically anywhere if the money was right and if I knew it wasn't permanent.



You can live off 100k easily in Manhattan as long as you're not a dumbass. NYC is expensive, but people exaggerate it big time.
This. It applies to most cities outside of Ohio.

It was really annoying when everyone knew I was moving, and would be dramatic about the cost of living.
Aug 24, 2012 9:59am
Commander of Awesome's avatar

Commander of Awesome

Senior Pwner

23,151 posts
Aug 24, 2012 2:44 PM
People use excuses not to do a lot of things. "Oh its too expensive to live there" is an example. Yet they never figure in that you MAKE MORE MONEY there because of the cost of living. I have family in Continental, Ohio and they say the same thing about Columbus (lol)
Aug 24, 2012 10:44am
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Aug 24, 2012 2:52 PM
Automatik;1253648 wrote:
You can live off 100k easily in Manhattan as long as you're not a dumbass. NYC is expensive, but people exaggerate it big time.
Maybe I am using my experience living on the island in 2005 as fact, but me and my roommate paid 2400 a month for a closet in Chelsea. Factor in higher prices for everything and back out your car expense, and you're still going to be paying a lot more to live there than you would in Columbus. Not saying you couldn't live there, but your style would be cramped.
Aug 24, 2012 10:52am
C

Cher

Senior Member

276 posts
Aug 24, 2012 3:00 PM
Pick6;1253339 wrote:I'd reckon compared to the (probable) low cost of living in Alaska.

Hawaii and Alaska have the highest COL in the nation
Aug 24, 2012 11:00am
sleeper's avatar

sleeper

Legend

27,879 posts
Aug 24, 2012 3:04 PM
Cher;1253717 wrote:Hawaii and Alaska have the highest COL in the nation
False. San Francisco and Manhatten are the most expensive places to live, at least in the US.
Aug 24, 2012 11:04am
Automatik's avatar

Automatik

Senior Member

14,632 posts
Aug 24, 2012 3:08 PM
derek bomar;1253703 wrote:Maybe I am using my experience living on the island in 2005 as fact, but me and my roommate paid 2400 a month for a closet in Chelsea. Factor in higher prices for everything and back out your car expense, and you're still going to be paying a lot more to live there than you would in Columbus. Not saying you couldn't live there, but your style would be cramped.
So you were making 100k and starving?

I'm not making anything close to 100k, living in Queens and doing ok. If I were making that much I'd be in Manhattan and I'd be THRILLED.

According to the link posted earlier Cbus is 44% cheaper than NYC. So yeah...no shit. There's no comparison.

I agree about the car situation. I thought that no gas, insurance or payment would make a big difference....wrong. This place is a blackhole regarding money. I'm debating transferring departments and going back to Cbus....got some thinking to do.
Aug 24, 2012 11:08am
sleeper's avatar

sleeper

Legend

27,879 posts
Aug 24, 2012 3:08 PM
gorocks99;1253731 wrote:Honolulu actually has the highest COL index according to Kipinger: http://www.kiplinger.com/tools/bestcities_sort/index.php?sortby=cost&sortorder=DESC

But I'll agree that Manhattan and SF are probably the most expensive overall.
Meh. It varies by year, but typically Manhatten and SF are always #1 and #2, Honolulu is typically #3.
Aug 24, 2012 11:08am
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Aug 24, 2012 3:13 PM
Automatik;1253737 wrote:So you were making 100k and starving?

I'm not making anything close to 100k, living in Queens and doing ok. If I were making that much I'd be in Manhattan and I'd be THRILLED.

According to the link posted earlier Cbus is 44% cheaper than NYC. So yeah...no shit. There's no comparison.

I agree about the car situation. I thought that no gas, insurance or payment would make a big difference....wrong. This place is a blackhole regarding money. I'm debating transferring departments and going back to Cbus....got some thinking to do.
Umm... according to my original post, I said you'd be fine as long as you're not on the ISLAND OF MANHATTAN. Back then I was interning for a Big4 Firm and getting paid OT during tax season, so I was making bank. If you annualized it for the 3 months I was there, I would have made slightly more than 100k. But between my massive booze habit, the fact that beers are $9 in the city, rent was $2400 for a room I could lay in the middle of and touch each wall... my point is that ON THE ISLAND OF MANHATTAN, 100K ISN'T THAT MUCH. You can live there, but you're style of living compared to Cbus is definitely going to be adjusted. If you go off the island, yea, it's a lot different I would imagine.
Aug 24, 2012 11:13am
S

Sonofanump

Aug 24, 2012 3:22 PM
like_that;1253662 wrote:This. It applies to most cities outside of Ohio.

It was really annoying when everyone knew I was moving, and would be dramatic about the cost of living.
I don't think it is, just guessing off of information that I have seen in the past:

A 3000 SF house with 1500 SF basement and three plus car garage cost $250,000 in rural Ohio. It would be $350,000 in any decent suburb of a major city in Ohio. I'd think that in any major city area (Atlanta, Chicago, DC, DFW) it would be $500K- $600K. That type of house would be seven figures plus in Dade/Broward Co, Orange/SD/Riverside Co, Worchester Co, Nassua/Suffolk Co.

But again it would be $3.50 in Wayne Co.
Aug 24, 2012 11:22am
Automatik's avatar

Automatik

Senior Member

14,632 posts
Aug 24, 2012 3:24 PM
Well according to my earlier post I said "You can live off 100k easily in Manhattan as long as you're not a dumbass."

It appears that you were doing exactly that if you continued to get blasted off of $9 beers.

You might have not been "fine" making 100k, but most people can pull that off easily. You did it wrong. wtf...were you drinking nightly in midtown? :laugh:

You're right though, 100k here isn't baller money, but its still solid money. Especially for a single guy that knows how to budget.

I recently read an article where a survey was taken in cities all over the US, asking people what salary they would need to feel "comfortable"...no lavish lifestyle, just no stress and living ok. Columbus was around 70k....NYC 168k lol
Aug 24, 2012 11:24am
sleeper's avatar

sleeper

Legend

27,879 posts
Aug 24, 2012 3:30 PM
Automatik;1253764 wrote:Well according to my earlier post I said "You can live off 100k easily in Manhattan as long as you're not a dumbass."

It appears that you were doing exactly that if you continued to get blasted off of $9 beers.

You might have not been "fine" making 100k, but most people can pull that off easily. You did it wrong. wtf...were you drinking nightly in midtown? :laugh:

You're right though, 100k here isn't baller money, but its still solid money. Especially for a single guy that knows how to budget.

I recently read an article where a survey was taken in cities all over the US, asking people what salary they would need to feel "comfortable"...no lavish lifestyle, just no stress and living ok. Columbus was around 70k....NYC 168k lol
The problem with big cities is lifestyle inflation. Some of the watches I've seen people wear are probably more than most people make in a year.
Aug 24, 2012 11:30am
Automatik's avatar

Automatik

Senior Member

14,632 posts
Aug 24, 2012 3:32 PM
Agreed. If you don't alter how you live and spend you will crash and burn.
Aug 24, 2012 11:32am
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Aug 24, 2012 3:36 PM
Automatik;1253764 wrote:Well according to my earlier post I said "You can live off 100k easily in Manhattan as long as you're not a dumbass."

It appears that you were doing exactly that if you continued to get blasted off of $9 beers.

You might have not been "fine" making 100k, but most people can pull that off easily. You did it wrong. wtf...were you drinking nightly in midtown? :laugh:

You're right though, 100k here isn't baller money, but its still solid money. Especially for a single guy that knows how to budget.

I recently read an article where a survey was taken in cities all over the US, asking people what salary they would need to feel "comfortable"...no lavish lifestyle, just no stress and living ok. Columbus was around 70k....NYC 168k lol
Basically, yea. I was 21.
Aug 24, 2012 11:36am
OSH's avatar

OSH

Kosh B'Gosh

4,145 posts
Aug 24, 2012 7:00 PM
I have moved before, and will be doing it again...probably within a year.

It doesn't take much for me to move. I like living in different areas and experiencing different things. I'd prefer to be closer to my family, but if I can't do that then nothing is ruined. I would like to enjoy my job and continue striving to what I want to do instead of basing my life off of other peoples' lives -- those that do not include my wife and future kids.
Aug 24, 2012 3:00pm
M

Manhattan Buckeye

Senior Member

7,566 posts
Aug 25, 2012 4:55 AM
If you are willing to have 2 or 3 roommates you can still live in Manhattan paying $1,200 rent/month, it just won't be in a hot area and you won't have much room. As mentioned above you can live in Jersey or the outer boroughs for a larger place. The issue in NYC is rent and taxes. If you are making $50,000 year you aren't paying much taxes, but you still have to pay the rent - just budget for it. If you are a junior IB'er at Goldman making $200,000 you have to factor in the taxes, the take-home is just over half of that. Certainly a high income but again if you want a $3000/month one bedroom apartment the money goes away quickly.
Aug 25, 2012 12:55am
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Tiger2003

Kill or be Killed

15,421 posts
Aug 25, 2012 1:36 PM
It would have to take alot for us to leave North Dakota. We both make in the 6 figures and well North Dakota is booming. We lived in DC and we both were in the low 6 figures and it was totally different.
I really hope to stay here for the rest of our lives. Overall just a great place to live.
Aug 25, 2012 9:36am