ATL VS NYC lifestyle and cost of living $150K vs $225K ?? (New York: apartments, mortgages)
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Well it's that time of year again where I've been looking for a job. It seems that I'm blessed in the fact that in this tough economy I still have some options. ( good luck to anyone that is looking for a job right now)
I've been given two job offers:
one for $150 in Atlanta ( where I currently live )
OR
one for $225 K in Manhattan ( where I'd have to move )
I've done the cost of living calculations, and they all say that NYC is 47% more expensive than manhattan.
What would you take? 150K in Atlanta ( which goes a far way! ) or $225K in NYC?
if you want big city lights and fast pace come to nyc. ive been to atlanta several times and i see the city and surrounding areas as nothing more than a relaxing vacation. u will definitely not live like a pauper for 225K in NYC.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Well it's that time of year again where I've been looking for a job. It seems that I'm blessed in the fact that in this tough economy I still have some options. ( good luck to anyone that is looking for a job right now)
I've been given two job offers:
one for $150 in Atlanta ( where I currently live )
OR
one for $225 K in Manhattan ( where I'd have to move )
I've done the cost of living calculations, and they all say that NYC is 47% more expensive than manhattan.
What would you take? 150K in Atlanta ( which goes a far way! ) or $225K in NYC?
Tangibles / Intangibles ?
Quality of life?
Lifestyle?
Thanks...
Yeah man Seventh is right. It's all up to you and where you wanna be. The 225K is def not chump change and it can go very far in Manhattan but can go EXTRA far in the outer boros as well too. If you are into fast pace life then by all means NYC but if you have been accustomed to a relax pace then I would remain in ATL. Both amounts will def be enough during these tough times to live comfy! Good luck w/ your decision!
I'm going to step out here and say take the 150k in Atlanta as in a long run it will work best for you. NYC is very fast past that 225k you will be making they will over work you for it, you'll have no time to enjoy the city when you have to constently work and be over worked and take work home or have to work late. Although 225k seem like alot it really isnt for Manhattan and even the other boroughs after you've been taxed. 150k you'll do your work in a less stressful environment and be able to get home and enjoy your time or even travel to these big city as you'll have the time and energy to do it. You'll have the best of whatever house in the city or suburbs and still live well. You can even visit NYC monthly as you'll have the means. Infact you can travel any where you want and enjoy the world on that salary living in ATL. You will be limited out here in NY, really limited to all possibilities. This is a very competitive place to live and you'll be fighting every day for this 225k salary. While you can live in outer borough for less, it is still struggle, like I said you will be working constantly working here is really hard work, you are over worked. You will not enjoy whatever it is you'll be doing because of this and to me to live a full filling life you have to enjoy what you do as you spend most of your time working. You practically get home just to sleep and when weekends comes you'll be too tired from being over worked to do anything. I currently live in outer borough making 175k with my husband and trust me when I say we are not living lavish at all I mean it, we are constantly budgeting.
The big question here is, do you want to live in new york city? Ive lived in atl and it was more similar to LA than NYC. Very very different lifestyle. Personally I love city life, so therefore I short my dollar to live here. Where you live will be the top influence on quality of life. I disagree with these people that choose a city based on cost of living. "Oh look how much I can get in Des Moines!" Great, now you're in IA. You get my point. Let me know if you have specific questions. NYC is a very exciting lifestyle! Good luck, and congrats on having such great options!
Do you have children? That's where the real expense lies. Extra bedrooms and private school tuition are very expensive. If you don't have children, you could have a great time on that salary.
Have you spent much time in the city? You sound rather ambivalent about New York, I would suggest an extended visit before your make a decision. As others have pointed out, there's more to life than money and only you can know if the lifestyle is right for you.
New York is about apartments and public transportation. Atlanta is about houses and cars. Even if you get a house in the suburbs, you'll probably have to take a commuter train into the city.
It's surprising at just how much income and property taxes take out of that budget. Not to mention other unheard of taxes (1% tax on mortgages anyone?). Given that federal tax increases are not adjusted for cost of living, you are more likely to get hit with higher taxes in the future and are more likely to be subject to AMT (due to high deductions from local taxes). Local politics here strongly favor hitting people like you hard. I feel you'll live a more comfortable life in Atlanta on 150k to be sure.
On the other hand - the things to do, shopping, clubs, restaurants, etc ... can't be beat. If that's your thing, come on up!
The big question here is, do you want to live in new york city? Ive lived in atl and it was more similar to LA than NYC. Very very different lifestyle. Personally I love city life, so therefore I short my dollar to live here. Where you live will be the top influence on quality of life. I disagree with these people that choose a city based on cost of living. "Oh look how much I can get in Des Moines!" Great, now you're in IA. You get my point. Let me know if you have specific questions. NYC is a very exciting lifestyle! Good luck, and congrats on having such great options!
having lived in nyc and des moines, i can tell you des moines wouldnt be so bad if not for the terrible winters...
I would add that you also have to consider the future career opportunities and find out where you have more chance to grow and make even more if you have such ambitions. When negotiating your salary when you decide to move on and move up, it helps to start with something higher rather than lower. Even though your salary might be adjusted for the COL of NYC, it's still much higher than your ATL salary and may help you in future salary negotiations when you even decide to move out of NYC. I know people who moved from NYC to lower COL places and whose high NYC salary helped them get higher salary at their new jobs, this may or may not be the case in your situation, but still something to consider and talk to people about. Also, if your title is higher in NYC I'd go with NYC.
Otherwise, all things being equal, it's up to you and what type lifestyle you prefer (urban or suburban). Also, consider that if you do have a family and you are the only income earner, 225K minus taxes and expenses doesn't go that far in Manhattan.
I'm going to step out here and say take the 150k in Atlanta as in a long run it will work best for you. NYC is very fast past that 225k you will be making they will over work you for it, you'll have no time to enjoy the city when you have to constently work and be over worked and take work home or have to work late. Although 225k seem like alot it really isnt for Manhattan and even the other boroughs after you've been taxed. 150k you'll do your work in a less stressful environment and be able to get home and enjoy your time or even travel to these big city as you'll have the time and energy to do it. You'll have the best of whatever house in the city or suburbs and still live well. You can even visit NYC monthly as you'll have the means. Infact you can travel any where you want and enjoy the world on that salary living in ATL. You will be limited out here in NY, really limited to all possibilities. This is a very competitive place to live and you'll be fighting every day for this 225k salary. While you can live in outer borough for less, it is still struggle, like I said you will be working constantly working here is really hard work, you are over worked. You will not enjoy whatever it is you'll be doing because of this and to me to live a full filling life you have to enjoy what you do as you spend most of your time working. You practically get home just to sleep and when weekends comes you'll be too tired from being over worked to do anything. I currently live in outer borough making 175k with my husband and trust me when I say we are not living lavish at all I mean it, we are constantly budgeting.
I don't necessarily agree with that. Just because you work in NYC doesn't mean you will be worked to death by default, it still depends on what industry and type of environment you work and what position you have or what type of job you have. Its' competitive here for sure, but it's the same everywhere else, I worked in SF, LA, Seattle, DC, Atlanta, Dallas and I don't find myself working harder in NYC. In fact I put craziest hours in Seattle and LA.
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