Talent May Be Shifting Away from Superstar Cities: Study

Re:Talent May Be Shifting Away from Superstar Cities: Study by xyzzyz on Tuesday November 19, 2019 @08:15PM (#21580222)

Lets compare salaries on a city by city basis and adjust those salaries based on the Cost of living in dollars per square foot (cost of a house/condo from Zillow). To calculate the location adjusted salary, we simply multiply the salary by 500 (rough average of $/sq foot) and divide by the cost per square foot in that city.

This comparison makes sense only if your salary is spent on literally nothing else but housing.

[ Parent | on HN ]

Re:Talent May Be Shifting Away from Superstar Cities: Study by nemo44x on Tuesday November 19, 2019 @08:23PM (#21580268)

Lots of truth here. Having lived in both types of places I can say with certainty that yes, housing is a big difference. But otherwise much is the same and the vastly higher salaries lead to much accelerated retirement savings and wealth generation.

Some very expensive places like nyc allow you to factor out automobile expenses making the rent burden manageable.

Food is a bit more, going out is the same if you figure out where to go, and day to day expenses aren’t too far off either.

I’d say it’s about 20% more overall all things considered.

[ Parent | on HN ]

Re:Talent May Be Shifting Away from Superstar Cities: Study by alain94040 on Tuesday November 19, 2019 @09:19PM (#21580566)

Yes, more detailed math here: https://thestartupconference.com/2018/09/21/about-that-silic...

[ Parent | on HN ]

Re:Talent May Be Shifting Away from Superstar Cities: Study by nemo44x on Tuesday November 19, 2019 @10:07PM (#21580783)

Well their yearly savings is a bit off to be sure. Unless you live in a dumpster which isn’t compatible with a spouse. But the general idea is right.

Pre-tax savings and having more to set aside after tax as well as faster appreciating real estate equity is the winning path in today’s economy.

[ Parent | on HN ]