Comparables—the right comparables—are key to delivering a quality product and growing your practice. Comparables are…
John Borrowman, CPC
Borrowman Baker LLC
Gallatin, TN
When you’re seeking comparable for your client, you wouldn’t think of using an average of an average of an average. But that’s just what you do when you attempt to rely on online cost of living calculators in considering a career move.
OK, sure. Everyone uses them. But that doesn’t mean there isn’t plenty of reason to be skeptical.
It’s no secret that housing costs are the 800 pound gorilla in a cost of living calculation. Most calculators will tell you what you need to get in pay to keep yourself even in the new location. But, if you don’t know how housing costs actually figure into that number you’re seeing, you could be operating in a fog.
If you’re going to turn to an online calculator, make sure it measures – and includes the data for – a wide range of costs; the sort of expense you can verify with a phone call, or a trip to the local grocery. Look at that data carefully. Does much of it really go very far up or down in comparing your city to a new one?
Now, let’s think about housing.
Be honest. You could probably find a perfectly acceptable place to live in your city, and pay less for the housing. Right? And it’s certainly true that you could find a place where you’d pay more. And you’d certainly expect to be even happier.
Those same nuances exist in very market. And it’s those nuances that aren’t captured in that online calculator you’re ready to put so much faith in.
Alright, alright, you say. There’s no doubting that there are simply places where it’s more expensive to live. Yes, there are. And, employers in those places will pay a competitive wage. What they won’t do is bump your salary simply because you show them the results of that online calculator.
Contact us for straight talk about your comp and career options.
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John Borrowman
