When I graduate, I’m looking at a couple different job locations that will probably pay different amounts. What are some general rules for how should I balance salary and living costs of the area?

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Posted by Robert Tomcik (MONEY FORUMS: 4, Answers: 0)
Asked on March 2, 2016 12:00 pm
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Robert, check out this site to compare the cost of living in different cities: http://www.bestplaces.net/cost-of-living/

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: March 5, 2016 4:15 pm
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At a minimum you should make a “Cost of living adjusted salary” Simply divide the salary by the cost of living index provided here https://www.expatistan.com/cost-of-living/index

I will say that if you have high fixed costs (like student loans), but you’re willing to be flexible about living standards (ie you don’t mind a long commute and a roommate for a few years), high cost of living can be offset, and you might be able to pay down loans faster with a higher salary.

If you’re being recruited in multiple cities, don’t be afraid to play offers off of one another when negotiating salaries. I’ve obtained a high cost of living salary in a low cost of living area due to negotiations.

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Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: March 3, 2016 11:41 am
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