Is your paycheck not stretching far enough? Are you considering moving to a new town? Perhaps you're even having trouble finding a job. If so, it may be time to look at one of the cities at the top of Salary.com's Salary Value Index. The compensation experts at Salary.com uncovered the top (and bottom) US cities for building personal net worth, taking into account local salaries, cost of living, and unemployment relative to the national average. This year’s list also factored in qualitative measures including diversity of industry, education level of the cities’ population, proximity to post secondary institutions, percent of population below poverty level, and median travel time to work, resulting in an interesting and robust list of top cities.
Take a look at the Top 5 and Bottom 5 Salary Value Index cities. Click to see sample salary ranges. Compare the differences between the cities or even try out your own job title.
The Top 5
#1. Plano, Texas
Located within the Dallas-Fort Worth-Arlington metropolitan area, Plano is the 9th largest city in Texas. A frequent destination for business travelers, it is home to many corporate headquarters. The city has a reputation as one of the best places in the country for employers to do business and for families to live and work. Plano has a nationally acclaimed public education system and well-educated, diverse residents.
#2. Aurora, Colorado
Aurora is part of the Denver Aurora metropolitan area and is the 3rd most populous city in Colorado. Once a budding frontier town of farmers and ranchers just east of Denver, Aurora is now largely a “suburban” city with over 450 neighborhoods. Aurora has a booming economy and is a business leader in key growth industries including biotechnology, aerospace and high technology.
#3 Omaha, Nebraska
Part of the Omaha-Council Bluffs metropolitan area, Omaha is the largest city in the state of Nebraska. Omaha has been racially and ethnically diverse since its founding and continues to boast a rich cultural background. With diversification in several industries including banking, insurance, telecommunications, architecture/construction, and transpiration, Omaha’s economy has grown dramatically since the 1990’s.
#4 Minneapolis, Minnesota
Moving to the Midwest, the city of Minneapolis, Minnesota shows up as #4 on Salary.com's Salary Value Index list. Minneapolis is part of the Minneapolis-St. Paul metropolitan area and is the largest city in the state of Minnesota. The economy is based in commerce, finance, rail and trucking services, health care and industry.
#5 Albuquerque, New Mexico
This fast growing city lying at the center of the New Mexico Technology Corridor, is the largest city in the state of New Mexico. Boasting a newly revitalized downtown area, Albuquerque is a major Southwestern city with a diverse population and some of the leading high tech research facilities in the country.
The Bottom 5
It's no surprise that the high living costs in New York City and Washington, DC have landed these cities at the bottom of the Salary Value Index. These cities do have some of the highest average wages in the country, but when it comes time to stretching your dollar and accumulating a nest egg for the future, it difficult to do in these cities. High living costs also landed Los Angeles, CA, Honolulu, HI, and San Francisco, CA in the bottom 5 Salary Value Index cities.
About Salary.com
Salary.com is the leading provider of detailed compensation information. Through continual analysis, Salary.com tracks up-to-date salary information for more than 3,700 job titles. This information is available online through the Salary Wizard. Salary.com also tracks cost of living through the Cost of Living Wizard.