STUDY: Bidenflation Makes $100K Salary Worth Just $35K In New York City
View Source | March 16, 2023 12:50 pm
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- A study found that a $100,000 annual salary is worth just $35,000 in New York City.
- Due to high inflation, the six-figure salary is being increasingly sapped of its value due to purchasing power declines and cost of living increases.
- A study from personal finance adviser SmartAsset, measuring 76 different cities in the United States found that the effect is felt in every city. Even the place where the salary goes the furthest — Memphis, TN — it’s only worth $86,444. The worst was New York City, where the salary is worth approximately $35,791 when taking into account taxes and the cost of living.
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