Learning Exercise 2

You will graduate from college soon and have been offered two jobs. Both jobs involve conducting financial research and both are a good fit for you. One job is with a major Wall Street investment firm located in New York City. The other job is for a large financial services firm in Charlotte, North Carolina. The salary for the New York City job is $70,000 with a $5,000 starting bonus. The second job is at $55,000 with no starting bonus.

1. How would you research the cost-of-living differences between these two cities?

2. What factors are considered in determining cost-of-living differences?