Chicago Relocation

More than Just a Paycheck

April 10, 2013

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John D’Ambrogio

Here are some comments from Baird & Warner’s own Tom Gill.

Joel Kotkin of Forbes wrote a great article about cities and salaries. Below are some of our comments and excerpts.

When relocating for a new job to a place you have never been before, there are many things to consider. While not always the most important, salary is certainly one of them. A job in a new city can be particularly enticing if it is accompanied with a high pay check. However, this is only one side of the financial story. The other half is cost of living in your new home town. As the cost of living increases, it is most likely your salary will increase as well, leaving you at times in the same financial position that you started in. Some companies even decrease salaries when relocating if cost of living is significantly lower.

Relocating to a place such as New York or Los Angeles with a new big pay check has its appeals, but with both ranking in the top of cost of living in America, it’s no wonder the salary is higher. That being said, Forbes has listed the cities where a paycheck stretches the furthest.

Number one on Forbes list is Houston Texas, followed by San Jose California, Detroit Michigan, Memphis Tennessee, and Dallas Texas.

If you do find yourself in a position to relocate for a new job, make sure you factor what your new residence will cost you when you get there. If you’re relocating to Chicago, check out Baird & Warner’s relocation page, loaded with great features such as lifestyle search, to assist you find the home you’re looking for. Real Estate is more than just the home you live in, it’s the life you get out of it.