Salaries vary depending on location. According to Salary.com, the average salary as of June 2015 was $60,000 for someone with a Bachelors degree who had 1-4 years of work experience in New York City. The average for someone with 10 or more years of experience was $99,000.
Yes, a salary of $60k is a good salary for New York City.
The median household income in the United States is about $59,000, so the amount you are making falls in the middle of the range.
This number is also higher than the average income in NYC which is about $30k per year.
In addition to this, there are many factors that influence your salary such as your experience level, education level and work location within New York City.
Is 60k a good salary in nyc
Introduction
Do you want to know if $60,000 is a good salary in NYC? Here’s everything you need to know.
I’m a very normal 25 year old who wants to be able to live comfortably in nyc. Will 60k get me that?
Yes, 60k is enough to live comfortably if you are single. However, if you want to live with roommates or a significant other and have a social life and travel then 60k will only be enough for one person. If that’s the case then consider taking out student loans or getting a second job.
Sorry, no. One person, no kids, sure. Two people and NYC is no longer cheap.
If you are single and have no kids and don’t mind living in a small place that you can afford and don’t mind going out every weekend, then 60k is great. But it’s not as good as it sounds, especially if you live in Manhattan where the cost of living is much higher.
I’ve lived on the lower east side since 2010 and my rent has increased by 50% over those years, even though my salary has only gone up 10%. The city simply doesn’t provide affordable housing for most people anymore—unless they find an illegal sublet or move out of Manhattan.
If your job requires a commute into the city every day like mine does, then factor in another $1000+ per month for transportation costs (public transit). You also have to pay taxes on your income so plan for that too: another 8% at least taken out at source (and yes we really do get taxed twice when we make money here!).
Yes if you don’t want to enjoy life and are good at saving and budgeting
$60,000 is a good salary for New York City if you want to live frugally and save. If your goal is to enjoy life and live comfortably in NYC, $60,000 may not be enough.
If you want to live on $60k plus some savings in NYC, here are some examples of how it could work:
- Renting a one bedroom apartment in Manhattan will cost at least $2,000/month.
- A subway ride is about $3 each way with an unlimited card (if you’re going just two stops). That’s over $600 per month just for transportation alone!
- Other basic necessities such as groceries, clothing and entertainment will also cost more than they would elsewhere because NYC offers more options than most cities do.
Conclusion
In conclusion, the answer to your question of “is 60k a good salary in NYC?” is yes! It’s definitely enough money to get by on if you live with roommates. There are many more things that you can do with 60k than just pay rent and eat, but how much fun is it really going to be at first? If you’re considering moving here, my advice would be not to come here looking for work unless you want something very specific in life like fashion design or finance because they will pay big bucks (and have some pretty great benefits). However, there are other jobs available where people make less money but still manage their expenses comfortably like teaching or working for nonprofits. And remember: if all else fails just go back home; nobody said this city was easy!
