The following information will enable you to do your own city-by-city comparison of national cost-of-living differences. The index numbers are based on the composite prices of housing, utilities, groceries, transportation, health care, entertainment and clothing in each city listed, with 100.0 as the national average. Use the salary comparison equation to calculate your purchasing power in various areas. Courtesy of the American Chamber of Commerce Research Association (http://www.accra.org/), 4232 King Street, Alexandria, VA 22302-1507.
Excite Travel: Information on travel, entertainment , local business, government and community services for cities around the world.
Campus Map & Tourist: Tourism and cultural information for regions around the world. Uses an egraphic of a map to locate regions.
Salary Comparison Formula and Example
How does your salary compare to other parts of the country?
Assume that City A has a composite index of 98.3 and City B has a composite index of 128.5. If you live in City A and are contemplating a job offer in City B, how much of an increase in your after-tax income is needed to maintain your present lifestyle?
100* [(City B – City A)/ City A] = 100* [(128.5 – 98.3)/ 98.3] = 100* (.3072) = 30.72% or about a 31% increase