and I can use all the help I can get, lol

Long story short, I've been in Miami since 1995 (came from Dominican Republic so I should fit it well.)

This is a career move, I'm 28 and I work in international banking, I've been with this bank for 7 years. Everyone and their mother has told me to look at NYC as an option, it's pretty much the only upgrade to working in banking in Miami.

I've visited NY many times before but have never stayed for a period longer than 3 weeks. I will be carless for the first time in my life, I guess this is a good thing in Manhattan.

I'm sure I'll be discovering a ton of places to go (aside of the tourist spots, etc.) The g/f just moved there so I'll be going in 1-3 months. I have a couple of friends and family members living there so they'll show me around I guess.

Question, percentage wise how much should my salary be adjusted to compensate for the cost of living in NYC (just using this as reference).

Also, anyone have a link in reference to taxes in NYC? I'm pretty sure it's more than in FL but I wanted to calculate some #'s.

 

Expect a lot of potholes lol welcome to the big apple

 

Thanks!

 

Ditto potholes and you should think about a solid 12% incremental taxes: NYC + NYS. Brutal taxes but it's home

 

Get an account with ZipCar. That way you won't feel stranded on the Island on weekends.

 

Thanks for the info.

Thanks!

 

The COLA they'll offer will never fully compensate you for what you'll forgo in terms of quality of life. Essentially, in NYC you pay more and get less. Also budget at least $400/mo. for parking, $350 - $500/yr. on parking tickets/tows, $200 - $1000/yr. for random theft/vandalization/braille method SUV parallel parkers, and appx. $300/yr. for rim repairs.

 

If you are going to live in Manhattan and not one of the other boroughs like Brooklyn or Queens, then your salary should be about double what you get in Miami (especially in financial services). Statistically, Manhattan county is the richest and most expensive county in the US. The average household income in Manhattan is about $120,000 as compared to the national average of about $70,000.

Car ownership is viewed as an extreme luxury in Manhattan but don't believe it. Those who say "you don't need a car in Manhattan" have never owned a car in Manhattan. The cost of parking is high but insurance is relatively low. You'll never use the car to run errands around town or even go out to dinner but unless you want to live according to a bus or train schedule, you need a car to get out of town. Renting a car when you need one is an option but at about $100 per day, that will add up quick.

Good luck with your move... "you're here for a good time, not a long time" and I'm sure you didn't move to NYC to save money. Enjoy yourself while you are here.