I've had a bit of a poke around as I'm talking to a few companies about opportunities there, but if there is any common denominator between the sites I found, it is that they disagree massively.
For example, with one of the locations, I am being told that the salary range for equal purchasing power is +/- 15% of my current salary, and for other locations the equal purchasing power figure in a much more expensive location varies by a good 20%. In both cases I would think that it'll make any sort of comparison essentially useless, won't it?
This is relevant to my interests as well. Mortgage and rent seem to be the easiest to determine; I just try a lot of different search criteria in Trulia to compare what I get in my current place vs. what I will get in the next place.
I think I'd settle for a cost of living comparison that listed out assumptions, that way you can compare in the places where your situation differs from the model.
Alternatively, I bet we've got at least one person here who lives in the places that you're looking at...
With one of the two locations I know that we have multiple people living there, and I wouldn't be surprised if we have a couple of people living in the other one either...
oldtin
UltraDork
5/23/14 10:23 a.m.
There's a lot of nuance that's missed in the comparisons. For example looking at cost of living in Chicago. There are massive variances in neighborhoods in the city, then throw in suburbs or if the gig is in suburbs, you could be looking at living in a different state. I'd take the word of residents over a comparison site
Word of residents is good, but it's not necessarily that helpful when it comes to salary negotiations compared to an "authoritative" CoL comparison site.
Preferably one that doesn't say "Cost of living is 60% higher and people in your profession are being paid 4% more"...
It also depends on what you buy!
I spend a whole bunch on manufacturing supplies, tools, and kart parts. Nowhere's cheaper than Detroit for that. Other expenses might be lower in another place, but that's where I want my money to go so here's cheapest.
The nearby (to me) college publishes some data that is similar to what you're asking for.
http://www.southeastern.edu/admin/sbrc/
dj06482 wrote:
What are the locations?
(East of) Seattle, WA and Houston, TX. The latter is the one that gives me a headache as it's either 15-20% cheaper than here or up to 20% more expensive.
Hal
SuperDork
5/25/14 11:52 a.m.
BoxheadTim wrote:
dj06482 wrote:
What are the locations?
(East of) Seattle, WA and Houston, TX. The latter is the one that gives me a headache as it's either 15-20% cheaper than here or up to 20% more expensive.
You are going to have that variation with any big city. One side is more expensive than another. Distance from city center is also a big factor. That's why some of my neighbors commute the 50 miles to Baltimore or DC every day.
You'd think that someone versed in statistics would be able to take that into account and come up with some sort of median value...
If I look at two or three sources and they're telling me that I either get a substantial raise or a substantial pay cut if I'm getting the same salary, that's not really that helpful .
I'd look at real estate listings for a comparable house, and then add property taxes into the equation. Look at the local mil rate, and you'll have a food idea of car taxes, as well.
Things like state income tax and sales tax should also play a factor. Median income per zip should be available...