While New York may hold a strong appeal for Big Law associates with its high earnings potential and prestigious firms, a comparative study on the average associate salaries against the cost of living in 30 cities reveals a different perspective on where associates live the largest. Based on this recent report, it appears that buying power of these associates often extends well beyond the tight confines of New York’s expensive real estate market.
Take, for example, the cost of a 438 square-foot condo on the city’s Upper West Side. For a similar price, an associate could alternatively choose a property at 10827 Cranbrook Road. This American dreamscape boasts two Roman Doric columns, double hardwood doors, and an interior spanning 3,144 square feet. It also includes marble floors, four bedrooms, 4.5 bathrooms, a kitchen with granite countertops, and even a dining room replete with an ornately decorated china cabinet, all draped in gold fringed curtains.
In conclusion, the allure of high salaries and prestigious legal work in prominent cities often comes with the steep cost of living. However, when one considers the living standards they can afford in other locations, it’s clear that size – at least when it comes to square footage – might very well matter.