For example, if you want a good amount of space in NYC you're in Brooklyn or Queens.
Your spending 45 minutes to an hour each way just getting to your Manhattan office.
Or you live in Manhattan and spend 6k a month.
Just from a raw math perspective, assuming I make 100$ an hour in NYC, and my Brooklyn apartment is 3k.
That's 1000$ a week for the 2 hour commute if I value my time and apply the same rate.
Let's just say a Manhattan apartment is 6k, but it's right across the street from the office.
To make the math easy, let's estimate your BK to Manhattan commute time to be worth 3k a month.
Vs 2K for an apartment in Philly or Chicago with a remote job.
4k extra a month to work in Manhattan, meaning 48k per year. Once you factor in taxes, you have to make about 70k more to make the in person NYC make sense.
If the option is 150k remote or 200k in NYC you *lose* money going to NYC. Plus, you don't need to live in a city at all .
If I want to I can move out to some small town in Ohio and buy myself a ranch. As long as I have stable internet I'm fine .
Of course this is a moot point if RTO becomes industry standard which it quickly is. With my luck the options are probably going to be have no job or go to New York or San Francisco and make 170 meaning I get the worst of both worlds.
For example, if you want a good amount of space in NYC you're in Brooklyn or Queens.
Your spending 45 minutes to an hour each way just getting to your Manhattan office.
Or you live in Manhattan and spend 6k a month.
Just from a raw math perspective, assuming I make 100$ an hour in NYC, and my Brooklyn apartment is 3k.
That's 1000$ a week for the 2 hour commute if I value my time and apply the same rate.
Let's just say a Manhattan apartment is 6k, but it's right across the street from the office.
To make the math easy, let's estimate your BK to Manhattan commute time to be worth 3k a month.
Vs 2K for an apartment in Philly or Chicago with a remote job.
4k extra a month to work in Manhattan, meaning 48k per year. Once you factor in taxes, you have to make about 70k more to make the in person NYC make sense.
If the option is 150k remote or 200k in NYC you *lose* money going to NYC. Plus, you don't need to live in a city at all .
If I want to I can move out to some small town in Ohio and buy myself a ranch. As long as I have stable internet I'm fine .
Of course this is a moot point if RTO becomes industry standard which it quickly is. With my luck the options are probably going to be have no job or go to New York or San Francisco and make 170 meaning I get the worst of both worlds.