Amanda Mier is graduating from UC Berkeley and ready to move to New York! The question is: Can she afford it?Amanda Mier | CNBC
After three semesters of online school, I’ve been in denial, but it’s time to face it. I graduate in a month. I wish I could be in college forever (who doesn’t?), but it’s time to get ready for adulthood.
And, like most soon to be graduates, I have some big questions to answer. Like:
1. Where will I live?
2. How much will I need to live independently?
3. How will I pay for 1&2?
4. How on earth do I get a job?
I set out to ask experts and friends who have successfully moved to a new city for advice.
Since childhood, my dream was to get a job and move to New York. I sadly wasn’t able to relocate for my internship at CNBC this past summer because of the pandemic but have focused a lot of my job search efforts in the area. I want to get a plan and do the math so I will be ready when I get my first job out of college.
My job search is focused on digital media and communications, so I did some research. The median salary for a social media associate (an entry-level position) in New York City is $54,000 annually. Wow! After seven years of hourly wages, it’s hard to wrap my head around a salary. But, before we get hung up on that first number, there’s something to consider: income taxes. You need to shave off about 25-30% of your income to find out how much you really make. In New York state with a salary of $54,000, my after-tax income would be $43,000 for the year.
Amanda’s first budget, a four-part series for CNBC’s College Voices:
1. Budget: Here’s what college students need to know about making a budget
2. Spending: Three easy ways for college students to cut expenses
3. Saving: Quick tips to help college students start saving money
4. Adulting: I want to move to New York after college graduation. Can I afford it?
Always know your numbers! Being an adult