Looking to maximize the buying power of your new associate salary? Then check out NALP’s “Buying Power Index.”
The index uses New York City’s median salary of $160,000 as a benchmark and then creates an adjusted cost of living index for each city. It assigns NYC an index value of 1.00; cities with a better purchasing power have a value greater than 1.00.
Dallas was number one on the list for best buying power. The median salary for new associates was $135,000, but only $70,350 was needed to achieve the buying power of a NYC salary. Others in the top ten included Los Angeles (median salary $160,000, $97,110 needed); Washington, DC (median salary $160,000, $104,790 needed); and Boston (median salary $160,000; $100,400 needed).
Click here for more.
