Have fiddled around with cost of living conversions, but I am not sure how reliable these are. There will be more responsibility coming along with the transition. Comparing horse apples to the Big Apple... what should I consider is an equitable salary?

Moving headquarters from :

Dallas ($75K salary) to

Manhattan, NYC ($_____)

Thanks

According to Bankrate

Equivalent income in the city you are moving to: $177471.38.

Percent increase to maintain standard of living: 136.63%.

Read more: http://www.bankrate.com/calculators/savings/moving-cost-of-living-calculator.aspx#ixzz4SSk4SAip

So depends on what extra responsibilities? Managerial?

Many different strategies you can take on this. I moved to a high cost location from Texas and eventually settled on the following:

- Paid to sell my house, cover all close costs, realtor etc.
- Paid to move all belongings and cars.
- Grossed up lump sum for all other expenses incurred.

Salary got 20% increase + monthly COLA (small).

One time 'bonus' to help buy house. HR was cooler with giving the huge chunk of cash instead of jacking my base salary. Worked well.

Bottom line, get creative.

I moved from Houston to Fairfield County 2 years ago. Cost of living calculators to estimate the change in cost of living were low for up here in my opinion. They all estimated 50-55%... maintaining standard of living I've figured living in this area that number is closer to 65%... I got substantially more than that to take the job and relocate.

I'm in Manhattan often and we looked at potentially moving there when we relocated. By my account, I'd estimate you'd need 50-60% more from Fairfield County to live a comparable standard of living in Manhattan depending on where you live. Are you dead set on living in Manhattan or are you open to commuting? Because there are areas like Brooklyn, Jersey City, or Long Island City that are substantially cheaper and ok areas to live in and not a long commute from Manhattan.

Good luck whatever you do. We really like it here. Just know that everything is really expensive, not just rent and restaurants/bars. Trains, taxes, etc. really add up. Also, I'd recommend if you are dead set on living in Manhattan that you do a trial in an AirBnB for a couple of weeks if possible. Even with COLA bumps, etc. you'll likely be in a smaller older space and getting around without a car is more of a pain in the ass than you are probably realizing. Manhattan is a blast, but it isn't for everyone and a lot of times people who think it's for them are wrong... they don't understand how different it is than almost any other metro you'd live in in the United States.

BTW, if your salary is $75k, I'd start the negotiation at $200 if you are set on Manhattan and wouldn't consider moving unless for lower than $175. If you are open to commuting from somewhere like Fairfield County (long train ride back and forth daily), you can probably get by on 135 or so. And it's cool to get creative but not too creative. The difference in cost of living it too substantial not to get the salary bases you'll need to not be poor.

So $100k more a year for COLA is a given for companies when they make this ask? I guess getting a hike like that just seems unreal to me. I understand I won't be seeing it at the end of the day but still a little shocking.

AnyOtherName said:

---

So $100k more a year for COLA is a given for companies when they make this ask? I guess getting a hike like that just seems unreal to me. I understand I won't be seeing it at the end of the day but still a little shocking.

---

NYC is 138% (1.38x) more expensive to live in that Dallas.

Simple facts or they can hire locally and pay that amount to someone there. You aren't asking to be any better off, per se. That just makes you even to where you are in Dallas. Now, if being in Manhattan or NYC proper is worth an amount to you, then you can take less. You can live considerably out from Manhattan and ride the subway daily and your housing cost will be much less.

Basically what it comes down to is on relo comparisons alone, there's probably not a package in the world that's going to bump you 130-150% to move to Manhattan and they will find someone to your job for way less than your DFW COLA equivalent salary. You either live in Manhattan at a lower standard than you seeing Dallas or you work there and deal with a lot of commute if true equivalent living is important to you.

The Wonderer said:

---

AnyOtherName said:

---

So $100k more a year for COLA is a given for companies when they make this ask? I guess getting a hike like that just seems unreal to me. I understand I won't be seeing it at the end of the day but still a little shocking.

---

NYC is 138% (1.38x) more expensive to live in that Dallas.

---

False. NYC is 2.38x for Dallas's 1.00x... So it is over twice as expensive as Dallas. Everything is more expensive, but definitely Housing. Housing in NYC is a damn **** show.

Either way, unlikely you see a bump from 75 to 175 for that. More likely to see something in the 120 range maybe. Take the QoL hit or live outside Manhattan. Living in Brooklyn lowers that to about 135k for an equivalent quality of life.

Buck Compton said:

---

The Wonderer said:

---

AnyOtherName said:

---

So $100k more a year for COLA is a given for companies when they make this ask? I guess getting a hike like that just seems unreal to me. I understand I won't be seeing it at the end of the day but still a little shocking.

---

NYC is 138% (1.38x) more expensive to live in that Dallas.

---

False. NYC is 2.38x for Dallas's 1.00x... So it is over twice as expensive as Dallas. Everything is more expensive, but definitely Housing. Housing in NYC is a damn **** show.

Either way, unlikely you see a bump from 75 to 175 for that. More likely to see something in the 120 range maybe. Take the QoL hit or live outside Manhattan. Living in Brooklyn lowers that to about 135k for an equivalent quality of life.

---

crap, you're right. Applied the % incorrectly.

Buck Compton said:

---

The Wonderer said:

---

AnyOtherName said:

---

So $100k more a year for COLA is a given for companies when they make this ask? I guess getting a hike like that just seems unreal to me. I understand I won't be seeing it at the end of the day but still a little shocking.

---

NYC is 138% (1.38x) more expensive to live in that Dallas.

---

False. NYC is 2.38x for Dallas's 1.00x... So it is over twice as expensive as Dallas. Everything is more expensive, but definitely Housing. Housing in NYC is a damn **** show.

Either way, unlikely you see a bump from 75 to 175 for that. More likely to see something in the 120 range maybe. Take the QoL hit or live outside Manhattan. Living in Brooklyn lowers that to about 135k for an equivalent quality of life.

---

Brooklyn is tricky. There's a lot of pretty awful parts then a few nice areas. If you are thinking like Williamsburg or sone place like that, then 135 isn't hacking it from 75k in dfw either.

If you're moving from TX to NYC, also factor-in NY state and NYC city taxes.

Work would be in the Financial District...what are some safe areas in Brooklyn. Also what kind of commute and cost would I expect to be shelling out each month coming from Brooklyn verses living on the island a walkable distance from the office?

I understand it is considerably more but the Quality of Life has a threshold at some point. Will be married by then and small dog. Currently live in 540 sq ft. studio in Downtown Dallas.