Do salaries in Irvine or OC make up for the COLA?

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Anteater Alum_IHB

Anteater Alum_IHB

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<p>I wil be a relocator to Irvine/OC soon. The COLA calculators that most web sites offer are worthless as it's based on general info. I'm trying to get as much full information as I can in order to determine/negotiate a proper salary adjustment. I am in the financial services field. If people don't mind sharing since no one knows each other on this blog, what is your annual compensation for your particular position/field? Thanks.</p>
 
<p>Sure --- why not. But to first answer your question, a resounding NO on the question of whether salaries in OC and Southland in general are proportionate to cost of living, especially in relation to other areas of the US. But the reconcilation is that you get to live in the Happiest Place on Earth --- as opposed to being trapped in some frozen tundra or desert. To me, it's worth the sacrafice --- but I am sure others have different opinions.</p>

<p>Me - Sr. Financial Analyst - $91k annual base</p>

<p>Wife - Financial Analyst - $72k annual base</p>

<p> </p>
 
<p>CK, thanks. Since you shared...</p>

<p>Me - $95k annual base with 2006 bonus of $35k.</p>

<p>Wife - $116k with $10k variable pay.</p>
 
The median household income in Irvine is approximately $84,000. The posters on this board are generally higher (as you can see from above). The cost of living is high, particularly for housing.





Personally, I would suggest constructing your own ratio using the median household income where you are and the $84,000 number for Irvine. For instance, if the MHI where you are is $50,000, the COLA would be 84000/50000 or 1.68. That should give you an idea of how much higher your salary will need to be here. Don't use the general OC numbers as they are dragged down by Santa Ana and some other lower income communities.





Sorry, I won't share my family income.
 
<p>I wonder what the median homeowner income is.</p>

<p>Here's a pretty good cost of living calculator:</p>

<p>http://www.bankrate.com/brm/movecalc.asp</p>
 
I was a sell-side analyst in Chicago and now am on the "buyside". There was a modest increase in salary, but once you factor in higher taxes, it's really pretty much a wash.
 
<p>Anteater - If you haven't already read my post on the job situation you can see that wages have been falling here: </p>

<p><a href="http://www.irvinehousingblog.com/2007/05/23/the-real-jobs-situation/">http://www.irvinehousingblog.com/2007/05/23/the-real-jobs-situation/</a></p>

<p>To check out what your average weekly salary could be <a href="http://www.calmis.ca.gov/file/es202/cew-select.htm">http://www.calmis.ca.gov/file/es202/cew-select.htm</a> select Orange County and 3rd quarter of 2006. I would imagine your job category would be under financial services but it could be under professional services just click on view detail. I find this to be a little higher than salary.com but average can be a wide range.</p>

<p>If you are on the sales side of financial services you will be at or above the COLA. If you are on the back end you will make more money but I doubt it will be enough for COLA. I do believe we pay a premium to live here maybe not as much as NYC or SF deserve but there are many reasons to want to live here. Wow I almost sound like one of the bulls. "Because the weather is great!". </p>
 
It is interesting that households with incomes at least two times the Irvine average, are populating a blog that at the end of the day, is really about home affordability (or lack thereof) in Irvine (and Orange Country for that matter). I think that the existing readership really says it all about our housing market... and it makes me wonder what households at the "average" must be thinking about home affordability.
 
<p>Maybe you could say that the folks out here have twice the average income and also twice the average patience when it comes to waiting out this bubble. Personally, I work hard for my income --- and am not too interested in flushing it down the toilet, which would be about as effective an investment as buying a home in the next couple years.</p>
 
i am the regional manager of a local paper supplies company. i don't generally like to talk about my compensation as it makes my employees jealous but i do enjoy spreading around my good fortune by giving out chilis gift certificates to my staff.
 
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