Originally Posted by acegmom
be any different from any other major metropolitan area around the globe?
London, Paris, Dehli, Singapore, Hong Kong, etc...
Honestly, I can't comment on the price of living in any of those cities. I don't have stats. Do you know where I can find info on the COL in those areas? Otherwise it's impossible to compare, since we don't really 'know' how much more it costs to live there vs. salaries there. Thanks!
Originally Posted by jennybear
A "middle class salary" is completely relative. Six figures is not an upper middle class salary in NYC.
That's what the article was saying. I UNDERSTAND that. My point though is that it shouldn't be 2.5 times the cost there. And no, as previous posters have pointed out, salaries are not that much higher in NYC to cover that insane increase.
Originally Posted by misswerewolf
I always thought that an upper middle class salary was greater than 250k. $123k/year seems average (i.e., middle) to me.
I guess I must be delusional.
I never said you (or anyone else) were delusional. Seems a bit snarky to me, since I've stayed on topic and haven't called anyone names, but whatever. As for your assertion that 123k per yr is middle middle class, look up some stats. Here's one
. Scroll down to the household income in the US bar graph and you can see that 123k is NOT middle middle class. Unless, of course, you want to admit that the majority of Americans are either working class or lower middle class. As for 250k being upper middle class, I'm sorry but 20k/month is definitely in the upper class category. As it is, only 1.93% of U.S. households make & exceed 250k a year.
Originally Posted by choli
Define what middle class means to you and I'll let you know if we were living that way. I'm saying that we didn't need upper middle class incomes to live in NY and enjoy our lives there immensely.
Congrats on the green card, I know how much it means!
: It's definitely changed a lot of things for me.
Middle class to me means an income that ONE wage earner can make to live in a relatively safe neighborhood, take care of the kids (daycare, clothing, etc), and have a bit left over to save at the end of the month. Yes, it's vague, and some people are bad with money, but for the most part I phrase it this way so that it can change depending on the COL (I know there will always be high COL places, I'm not shocked at that. I am shocked at INSANELY high COL places without much increase in salaries in the area, kwim?). The reason I put one wage earner is that many parents today, esp. women, are finding themselves being single parents. I don't think it's right to expect everyone to be coupled up in order to make ends meet.
I'm not touching on the enjoying part at all. I have a friend who absolutely loves it in NY. I'm sure I'd like it too, since I love living in the middle of Santa Clara with all the different cultures & people--it's exciting and refreshing. I think though that there does come a point when having children and being able to support a family without teetering on the brink of financial insolvency is an important part of keeping a city alive. It doesn't bode well if both parents are working 24/7 trying to pay just the basics, like childcare (25k/yr for ONE child!?!).
Again I'm not talking of being able to 'make' it or enjoying life, I'm talking about having a SOLID middle class. It's very important to have a LARGE solid middle class in a country, and this article is showing that for most New Yorkers, middle class is not within their reach unless both parents are working high paying jobs. It shouldn't be impossible for teachers to live a middle class lifestyle, kwim? A few pp mentioned that the majority of the salaries in NY are NOT that much higher--not to justify the much higher COL. And that scares me because if those who make up the majority of the population (teachers, police officers, etc, etc) do not make enough to be solidly middle class, then that means that the majority make up the working (aka lower--I hate that term, anyone know of another term?) class, and a
a small percentage the upper class. I have no interest in returning to that kind of a class system where the majority of the population is poor, and there's a tiny middle class & an even tinier upper class.