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Does Location Effect Salary?

URL
https://www.youtube.com/watch?v=OxfHbn8kSj8
Views
11
Description
I made the statement in a video recently that it is better to not live in big expensive cities like NYC because you can make the same salary in other cheaper cities like Dallas. A subscriber asked if this is true for specific banks and firms and if seniority plays an important part of this. They know smaller banks do not pay the same and JP Morgan Chase has stated they will not pay the same. Yes it is true that my salary did not change between cities. It is also true that not every firm will match your salary and seniority plays a role. However the biggest factor is how the firm views your value. Does the firm want to lose you over the location you live? For new analysts many firms assume they can just replace you. Some firms realize they are already paying you a specific amount so why should it matter where you live? As remote working becomes more popular and other industries such as tech and fintech are sucking up the best talent, I think salaries will start to level out across locations for the same position. Website: https://www.FancyQuantNation.com Quant t-shirts, mugs, and hoodies: https://www.teespring.com/stores/fancy-quant Connect with me: https://www.linkedin.com/in/dimitri-bianco https://twitter.com/DimitriBianco
Rating
5
Name
Dimitri Bianco
Date
2022/05/05
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