New York is the most populous city in the United States (8.4 million). It’s the city of immigrants: 800 languages are spoken there, and more than 3 million were born overseas. Although it has a high cost of living, it’s the city of opportunities, with a lot of high-paying jobs in the IT sector and a mature tech market.
IT salaries
The average IT salary in New York is $84,890 per year ($7,070 per month) — higher than in most other US cities with developed IT markets.
Average IT salaries in New York depending on the specialization (USD per year / per month):
- Software developer: 81,710 / 6,810
- Back-end developer: 112,690 / 9,390
- Front-end developer: 89,040 / 7,420
- Full-stack developer: 115,580 / 9,630
- DevOps engineer: 114,700 / 9,560
- Database administrator: 83,925 / 6,990
- Web designer: 57,960 / 4,830
- System administrator: 70,540 / 5,880
- Project manager: 70,400 / 5,870
- QA engineer: 73,610 / 6,130
- Technical writer: 62,410 / 5,200
- Security analyst: 86,080 / 7,170
Read more:
→ IT jobs market in the United States: mid-2020 data
Economy
New York is one of the world’s largest financial centers and one of the most important startup hubs. It’s home to the highest number of billionaires of any city in the world. And if New York City were a sovereign state, it would have the 13th highest GDP in the world.
The unemployment rate in New York is 3.8% — almost on a par with the national average of 3.5%.
Important economic sectors in New York include:
- Accountancy
- Advertising
- Banking
- BioTech
- Fashion
- Finance
- Insurance
- Media
- Real estate
- Technology
- Trade
New York City is also one of the world’s largest tech hubs. An area of high tech companies centered around southern Manhattan’s Flatiron district is dubbed “Silicon Alley” in reminiscence of Silicon Valley in California. In total, New York City hosts more than 300,000 employees in the tech sector and more than 5,150 tech companies, most based in Manhattan, Brooklyn, and Queens.
Popular tech industries in New York City include real estate technology, FinTech, digital media, telecommunications, software development, and game design.
The largest and most popular technology companies present in New York include:
- Adobe
- Amazon
- Bloomberg
- Facebook
- Google
- Huawei
- IBM
- LG Electronics
- MongoDB
- Samsung Electronics
- Slack
- SoundCloud
- Spotify
- Twitter
- Verizon Communications
- Vimeo
Cost of living
According to the Bureau of Economic Analysis, the overall price level in and around New York City for housing, goods, and services is 22% higher than the overall country on average. It’s one of the most expensive cities in the United States.
Monthly costs without rent in New York are $1,310 for a single person and $4,850 for a four-person family.
Consumer prices comparison (including rent) in other US cities vs. New York:
- Austin: 40% lower
- Boston: 22% lower
- Chicago: 32% lower
- Los Angeles: 26% lower
- San Francisco: 1% higher
- San Jose: 18% lower
- Seattle: 25% lower
The average prices in New York (USD):
- Meal at McDonald’s: 7–12
- Meal at another inexpensive restaurant: 12–40
- Average food basket (milk, bread, eggs, cheese, chicken, apples, potatoes, water, beer): 58
- Monthly fee at a fitness club: 20–190
- Monthly pass: 125–140
- Monthly rent (1 bedroom): 1,620 – 4,500
- Monthly rent (3 bedrooms): 2,700 – 10,000
- Property prices per square meter: 4,090 – 20,000
- Utilities: 75–240 per month
Travel
The busiest airports in New York include John F. Kennedy International Airport, Newark Liberty International Airport, and LaGuardia Airport. You can travel from this city to anywhere in the world, either via a direct flight or with a transfer flight.
Additionally, New York is located at a relatively close distance to Philadelphia (90 miles or 1.5 hours drive), as well as to various lakes and national parks.
New York is also easy to travel by foot as it’s ranked the “most walkable” city in the United States by Walkscore.com.
Entertainment
Often called the Culture Capital of the World, New York offers something for everyone. This city is home to Times Square, Broadway theater, the Empire State Building, the Statue of Liberty, Wall Street, luxury shopping along Fifth and Madison Avenues, the Metropolitan Museum of Art, more than 500 art galleries, as well as hundreds of cultural institutions and historic sites.
Popular events held in New York include the Halloween Parade in Greenwich Village, the Macy’s Thanksgiving Day Parade, the St. Patrick’s Day parade, the Tribeca Film Festival, the LGBT Pride March, and more. You’ll never be bored in New York.