I applied for risk and cyber jobs in Florida and some of these are at an SVP level. The range they're wiling to pay with both base and bonus is half of what is listed on salary boards at that level. They are moving many jobs to Florida and Texas to get cheap labor and pay low corporate taxes. I declined to go any further with the recruiter.
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When you say "salary boards" are you referencing Citi job postings? I have found that the job postings have become more transparent and the recruiters are pretty good about telling you the target pay. I have noticed estimates like Indeed are wildly off. At the end of the day it is about the amount they are willing to pay and whether you can work with that. I don't think Citi is that different from other banks with regards to pay/benefits but that is just my experiences. I understand other might have different experiences.
So if in NY and the pay isn’t enough to live there, and the Florida pay “at the end of the day” is the same as NY pay equivalent, then its also not enough pay to live in FL.
So across the board Citi is not competitive with the salary compared to other companies.
The pay may be less, but you are not paying state or city income tax, and the cost of living is way less. Id say its about the same at the end of the day.
NY pays the top $, but the cost of living is outrageous. I know plenty of people who work in NY for the money, but live elsewhere, like Pennsylvania, Delaware.
Working outside of NY, the money will always be low.
If you want NY money, then move to NY (where you will pay 2X at least to eek out a living with the rest of the rats)