Washington, D.C. vs. New York Major: BS Mathematical Economics Job Title: Financial Analyst
Salaries WashingtonNew York # Employed10,88033,030 Starting Salary$51,700$63,390 Median Salary$89,530$107,490 Top Earners$174,680$226,840
Expenses Costs of LivingWashingtonNew York Rent-one bedroom$900$1,400 Rent-two bedroom$1,300$1,800+ Transportation$ day metro$ day subway Groceries~$240$300 Utilities$250$370 Health Insurance$137$335 Income Tax8.5%12.7%
Graduate School Washington- GeorgetownNew York- Columbia Tuition$47,754$28,728/semester Room and Board$20,296$18,252 Books$1,300$2,000 Personal$1,320+$3,626 Estimated Total Cost$73,040$81,334
Effects of Graduate Degree on Salaries After analyzing the effect of a graduate degree on the earnings of financial analysts, NACE showed no difference Would spend a lot of time and money on graduate school, for no increased opportunity or starting salary However, if interested in a different, more specialized career, might prove good option Variety of occupations listed that employ candidates with more advanced degree than a bachelor’s
Job Titles/Earning Options Credit Analyst Sales Engineer Economist Economics Professor Insurance Underwriter Research Assistant Environmental Economist Statistician
Conclusion I would choose to live in New York City! Higher starting salary, but higher cost of living, rent, groceries, etc. Change of scenery Graduate school does not seem like the best option-expensive Doesn’t give much an advantage IF looking to become financial analyst