Oh how I wish that were true. When I was selling investments I came across a surgeon making $250k+/year with over $350k in credit card debt.
I was actually flat out astounded how bad finance/accounting people are with money. They manage finances for a living and make terrible decision in their own personal lives. @usmccds423 can probably back me up here.
I think there should be a mandatory personal finance class taught in every public/private school. But I don’t see that being a priority for school boards.
Cost of living differences between parts of the US are actually bigger than I think most cost of living calculators account for. Mainly this is due to the tradeoff between paying more for a house and having a more comfortable commute. That is, people in more expensive cities naturally have longer commutes because they move further from their work to find affordable housing. If you want apples to apples, you have to compare how expensive your house would be at the same commute distance.
Right now I have a ten minute commute and a fairly nice 2200 square foot house. If my job was in NYC, I would have to pay 3-5 times for the house that I own and my commute would still be an hour plus each way. You would literally have to offer me 5 times my present salary before I would give a job offer in NYC a second look. Maybe I am an oddity in that regard.
I’m just not sure why Amazon thought NYC and DC were the best choices for broadening their appeal to a wider array of tech workers (if that was really the point of HQ2). For 70k (or especially 150K), I think you could find a fair bit of talent that would like Atlanta or Dallas. To get someone to move to NYC, I think that salary number needs to be a lot higher.
Finance/Accounting people can definitely be terrible with money. Do as I say not as I do…
According to the wife (personal financial planner), doctors are the worst, though.
100%. College too.
You have to take other things into consideration then too, though. For example, I know 4 or 5 people born and raised in various parts of NYC that didn’t own a car (or a license) until they left (in this case for the military). I don’t know how much it costs to ride the subway to work every day, but even a cheap car is $18K+ maybe less if you get a used beater. You also have to subtract gas and maintenance.
There are trade-offs with everything.
I don’t think their goal is to have people move to NYC to take their jobs. I fully expect them to poach talent from other companies within NYC and the surrounding area.
And, for the record, I think NYC and northern VA are stupid places for their new HQ’s, but it seems like a lot of people unhappy with their choices are unhappy because of the downsides (more congestion, cost of living, etc…). Amazon doesn’t give a fuck about these things, why would they?
There’s an enormous talent pool from NY to Virginia they can poach from.
what makes you think they want to “broaden their appeal”? They’re looking for yuppies man … young urban professionals who are blinded by the veneer of working for Amazon … it’s a status thing - bragging rights.
I don’t think this is a fair way to look at it. Obviously, a lot of Amazon’s workers are hourly warehouse laborers that make $15ish an hour ($30k/year), which skews the average pay numbers.
My understanding is the HQ2 is not a distribution center and won’t have entry level warehouse labor. There’s almost no way they can hire many people at $30k and make their $150k average. The math just doesn’t work.