How Much is Your Salary Really Worth?

13May08

CNN Money has a great calculator that determines the cost of living if you are looking to compare your salary in different places.

Lets take an example of a $60,000 salary in Chicago and what that turns out to be if you held the same position in Phoenix.

Salary in Chicago IL:
$60,000
Comparable salary in Phoenix AZ:
$53,796.74  

If you move from Chicago IL to Phoenix AZ

 
Groceries will cost: 10.181% less
Housing will cost: 19.365% less
Utilities will cost: 15.761% less
Transportation will cost: 6.89% less
Healthcare will cost: 7.82% less

Play with the numbers and see how this affects you and your job offers. That $60K job in Chicago might sound enticing, but when you factor in the cost of living you may be going back to eating Ramen for dinner.

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