jodvova

I got a job offer from New York company and they are matching my current London salary converted to USD.

Is this a fair comparison or should I ask for more because New York is more expensive city ? Although, the income tax will be lower there.


What are other people experiences ?

AlphaTangoMike

You need to provide additional information to allow us to provide useful answers.

An example:
With New York being the state, are you moving to New York City? If so, would you consider living in any of the 5 boroughs? (Many people just assume that Manhattan is NYC).

It goes further, if you're currently living in W1 on a six figure £ salary, then you would probably enjoy life in the nicer parts of Manhattan. However, if you're living in greater London and commuting to work by rail, then you might consider living in Queens or Brooklyn.

It all depends on your personal preferences. Let us know what you're willing to spend on rent and that will help with the comparison.

rpjs

IME equiv salaries for NYC are up to 50% higher than the direct pound/dollar exchange rate. NYC is a lot more expensive than London for pretty much everything other than transportation costs.

Guindalf

This is a real 'piece of string' question. Without knowing a lot more than you've given, it's impossible to answer.

The first question is what visa are you coming here on? Is the US company sponsoring you or are you or your spouse a USC? Without knowing you are legally able to take the job, the rest is completely moot.

Assuming the visa is in order, where in London are you based and what kind of salary are you currently earning? Where in NY will you be based and how far are you willing to commute?

Is the NY company offering health insurance or will you have to pay for it yourself? This makes a HUGE difference to how much you need to survive and/or thrive?

Are you coming alone or with a family?

There are many more factors but that will do for starters.

civilservant

Federal withholding perhaps, but don't forget State, County and City Income taxes, cost of healthcare (deductatibles, co-pays etc) - there are many more 'hidden' charges here that ratchet up the cost, until the UK where you know the percentage you'll be paying up front based on your Gross take home.

jodvova

So, some more details.

I get 150k gbp in London. The NY company matches it at $260k.
I get a private health insurance from the company in London (paying some extra for dental).
NY company is offering full medical insurance without need to pay extra for dental.
NY company doesn't do 401k match.

I rent 2bedroom in E14 in London with ~5 mins commute to Bank/Canary Wharf on DLR. I pay ~1.8k gbp a month.
In NY, I'm thinking to rent the same kind of apartment in Upper East side / Union Square / maybe Dumbo.

The visa is provided by the company and they pay for a green card sponsorship.

I move with my wife (non USC).

Jerseygirl

Depending on the visa your wife may or may not be able to work.

Make sure you know the details of the US health insurance...there will probably be deductibles, copays etc. Does it also cover meds...again how much are the copays?

bewildering

Not sure what 1.8k gbp ~ 2.7k usd will get you in those New York areas. Certainly there are places for that price range, but they will not be nice especially if they are 2 bedrooms. Hard to offer advice unless we know your standards.

Jerseygirl

That's what I was thinking. We paid almost that for a 3 bed duplex 18 years ago in NJ...30 miles from Manhattan,

jodvova

I've taken a look on zillow and I see properties ranging between $2.5-4.5k in those areas.

Bob

Plenty of hidden taxes here too as you say, stuff like sales tax on second hand cars, property tax and stuff like that.

glassdoor and salary.com might be good places to check out the going rate for a particular field, but I wouldn't go with a squid to dollar conversion.

Plus all the other benefits are more important here, health, holiday, tax help if it's a transfer.

Anyway, visa info is handy. If it's a company transfer, that's a L1 and spouse will be allowed to work, if it's a H1B and it's not academic/research then they'll not apply till next April for a following October start and spouse won't be working. E2 has it's own disadvantages.

Bob

It usually doesn't include the hidden costs.

Padmapper.com is better on finding rentals.

AlphaTangoMike

Rental property in Manhattan is better compared to 3rd world living in many cases. (No washer / dryer unit within the apartment - at least not in the sub $3,000 for a 1 bedroom apt range; in window airconditioning units, etc.)

You might want to consider living outside of the city and commute in.

md95065

Do apartments in Manhattan in that price range even have windows?

Nutmegger

If they do, they face the air shaft!