This is the assignment \"Select your “dream job” and then go to www.salary.com (

Question

This is the assignment

"Select your “dream job” and then go to www.salary.com (Links to an external site.)Links to an external site. to find geographic pay survey data for this job in 3 locations of your choice. Also compare cost of living data to see where you would actually receive the highest pay."

I have chooen "TV producer" and the cities are Los Angeles, Boston, and New York. Now, I just wnated you to compare cost of living data to see where you would actually receive the highest pay.

Here's geographic pay survey data

1: New York: https://www1.salary.com/NY/New-York/Producer-Salary.html

2: Boston: https://www1.salary.com/MA/Boston/Producer-Salary.html

3: Los Angeles: https://www1.salary.com/CA/Los-Angeles/Producer-Salary.html

One page please.

Explanation / Answer

Ans: Median salaries in three cities

Los Angeles CA - 56734

Boston MA - 57492

New York, NY - 60675

With help of websites comparing the cost of living in various US cities, we take

cost of living index in Los Angeles as 1

Comparative index in Boston MA = 1.0285

Comparative index in New York, NY = 1.27

Salaries according to indices

Boston MA = 1.0285 x Salary in Los Angeles = 56734 x1.0285 = 58350

New York, NY =1.27x Salary in Los Angeles = 56734x1.27 = 72052

We see that the actual salaries in the cities of New York and Boston are lesser than the equivalent salaries calculated according to cost of living indices in these cities. Hence we conclude that a producer in Los Angeles CA is paid highest as compared to other two cities, taking into account the cost of living.

References :

https://www.expatistan.com/cost-of-living/comparison/

http://www.bankrate.com/calculators/savings/moving-cost-of-living-calculator.aspx

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