Understand how your salary compares to the cost of living in different locations.
Enter your details to see the equivalent salary.
Understanding Salary and Cost of Living
Relocating for a job or comparing opportunities in different cities often involves more than just looking at the salary figure. The Cost of Living Index (COLI) is a crucial metric that helps you understand the relative difference in the price of goods and services, including housing, food, utilities, and transportation, between different locations.
A COLI of 100 typically represents the national average. A city with a COLI of 130 is, on average, 30% more expensive than the national average, while a city with a COLI of 85 is 15% cheaper.
How the Calculator Works
This calculator helps you determine the equivalent salary needed in a new city to maintain your current standard of living. The calculation is based on the ratio of the Cost of Living Indices between your current city and the target city.
Your Current Annual Salary: The income you currently earn.
Cost of Living Index in Your Current City: The COLI for your present location.
Cost of Living Index in the New City: The COLI for the city you are considering moving to.
The formula used is:
Equivalent Salary = Your Current Annual Salary * (New City COLI / Current City COLI)
For example, if you earn $60,000 in a city with a COLI of 110, and you are considering moving to a city with a COLI of 130, the calculation would be:
This means you would need to earn approximately $70,909 in the new, more expensive city to afford the same lifestyle you have with $60,000 in your current city.
Why Use This Calculator?
Informed Decisions: Make better choices when evaluating job offers or planning a move.
Negotiation Power: Understand what salary is truly competitive for a new location.
Financial Planning: Accurately budget for life in a different city.
Remember that COLI is an average. Your personal expenses might differ based on your lifestyle, spending habits, and specific needs. However, this calculator provides a valuable baseline for comparison.
function calculateEquivalentSalary() {
var currentSalary = parseFloat(document.getElementById("currentSalary").value);
var currentCityCOL = parseFloat(document.getElementById("currentCityCOL").value);
var newCityCOL = parseFloat(document.getElementById("newCityCOL").value);
var resultDiv = document.getElementById("result");
if (isNaN(currentSalary) || isNaN(currentCityCOL) || isNaN(newCityCOL)) {
resultDiv.innerHTML = "Please enter valid numbers for all fields.";
return;
}
if (currentCityCOL <= 0 || newCityCOL <= 0) {
resultDiv.innerHTML = "Cost of Living Indices must be positive numbers.";
return;
}
var equivalentSalary = currentSalary * (newCityCOL / currentCityCOL);
resultDiv.innerHTML = "To maintain your current lifestyle, you would need an annual salary of: $" + equivalentSalary.toFixed(2).replace(/\B(?=(\d{3})+(?!\d))/g, ",") + " in the new city.";
}