Seconded. My friends in high cost of living cities make more than lower cost of living in terms of raw dollars, but they don't always make more once you take into account living expenses.

EDIT: I meant "seconded" in that you'll obtain your $120k salary in high COL areas, but it's not necessarily the best choice. I wasn't advocating actually moving there (I'm in Austin)

No! A 120K salary in NYC is equal to 40-60K in other parts of the country! I felt like a pauper living in Manhattan. Yes ... people will say, you can live in Brooklyn/Queens/Bronx and take the subway. But the quality of life is very very different. I don't want to get into a debate of how much one can save. It is true that if you are single, live with 3 roommates and can survive on the free food that you get in meetups, living and working in NYC will let you earn and save a lot. If you are a bit older, want to live in Manhattan, don't want room mates, etc. they money isn't enough. For me, I calculated a salary of 250K would be the minimum I'd need to make in order for Manhattan to be a feasible tradeoff. This is for my expense profile and extremely personal. That said, I don't think I am a diva by any means. A 30+ year old shouldn't need room mates to survive. And doormen and elevators are kinda necessary when you have a busy life.

> And doormen and elevators are kinda necessary when you have a busy life.

I don't really get this part, though it's a common sentiment. Here in Copenhagen, most apartments don't have elevators. Many people are busy, but I have never heard someone complain that an elevator is the bottleneck that would let them relax more. What proportion of your day could possibly be spent on the stairs? It takes me maybe one minute to walk up the 5 flights of stairs to my apartment. It's good exercise, too.

It's an issue for people who have mobility problems, but it's not a time problem.

In Manhattan, doorman buildings are much taller than 5 stories.

Chattanooga, TN. Its said elsewhere below, but you can make excellent money with a minimal cost of living and excellent quality of life.

Granted, you're not in SoMa or Manhattan, but in those cases you're $120k = ~$45k... so why not make well over $45k, say in the $60-$100k range based on skill/ experience/ demands, and actually "feel" like you're making every cent of it.

I'd like to add one more thing that surprised me. Tax rates. Making 120K in NYC means you are not rich but your tax rate is pretty high. When one makes 60K in an area that is dirt cheap, you don't get dinged by higher tax rates.

Ah - think you are overstating a bit. Live in Hoboken - 20 minute subway ride to midtown. Also possible from Jersey City.

Surprisingly convenient a commute, having done it yesterday. I'd definitely think about living there myself.

Right, but where are these elusive low CoL places one can make $120K+ as a programmer? A $120K salary in NYC is equal to $40-60K in other parts of the country, sure. But in most other parts of the country, you will indeed be making $40-60K as a programmer.

Knoxville, TN.

Granted, if you've only been programming for five years you're probably going to only be looking at 80K if you're good (50-60 if you're merely okay). But 100-120 with ten years experience is in the range of what I've seen locally.

Also, you'll need to know .Net or Java.

Edit: Also, TN has no state income tax.

At Amazon or Microsoft you can pull down a $120K compensation package your first year and Seattle is (relatively) cheap.

Ah yeah that's a good one. I've also heard it's possible in Austin and Portland.

I don't think $120k is possible as a new grad in Austin.

New grad rates tend to be $50 - 70k, while some bigger companies offer ~$90k.

$90k in Austin is a much better standard of living than $120k in Bay Area though...

I do that remotely from the Caribbean.

wow.. my dream life. I truly hope to be in a similar position someday (just starting my 1st job). If you feel like it.. do tell a bit more.

Shoot me an email with any questions.

Do what? The showing off?

No. Make a good living writing code as a remote programmer. I do so from an unlikely place.

Los Angeles. There are plenty of places with low CoL (Culver City, the Valley, West LA, Mid-Wilshire) located right next to high CoL locales (i.e., Santa Monica, Marina Del Rey).