You did it! You finally graduated from college. It’s the end of one chapter and the beginning of another - figuring out where you want to live and work. How much will you make? How will you get around? How much is rent? Does the social scene match your interests? Will you eat good food or are you stuck continuing your instant noodle diet?
There are tons questions that you need to ask yourself when making this decision. We took all of those questions into consideration and compiled a list of the top 5 cities to launch your career.
New York:
It’s not easy to land a job in New York City. Even though the city's unemployment rate has dropped in the last three years, the job market is still highly competitive. But once you land a gig the rewards could be extremely satisfying.
The Department of Labor noted some industries – including construction, finance, health and professional and business services – that had above-average job growth in the period between 2009 and 2014, above-average annual wages of $65,900 or more in 2014, and an above-average expected job growth of 11%. Still, rent in New York City averages around $3,100 a month for a one-bedroom apartment, so prepare to have roommates.
As for the social scene, New York’s is hopping: There are over 45,000 restaurants and bars in the state (because no one should be restricted to just an NYC) and plenty of culture, so you won’t lack for interesting things to do.
Austin:
Yes, it’s hot in Texas but if that’s the kind of weather you like, Austin might be where you want to plant your roots – for now at least. The unemployment rate is 3%, lower than the 5% for the state.
Austin is consistently being recognized by Forbes for its increase in tech and STEM-related jobs. There was a 73% increase in tech jobs from 2004 to 2014 and a 36% growth in STEM jobs. This may be a great alternative to moving out to Silicon Valley. But know you wouldn’t be the only one with that idea. As of 2014, the number of people between the ages of 25 to 34 made up 17.5% of Austin’s total population -- the highest in the country.
Last, the food and live entertainment in Austin is one of a kind: Notable events include South by Southwest and Austin City Limits.
Denver:
Like in Austin, the startup scene is really booming in the Mile High City. So much so, that it hosts a yearly event called Denver Startup Week which is described as “the summit of entrepreneurial energy, innovation, and connection.” This year’s event is coming up in September so maybe it’s your chance to check out the city and see what it has to offer.
Rent is a little bit on the pricey side, averaging about $1,300. But median household income is $66,870, higher than the national median income of $53,657. Your social scene may be thriving as well since Denver’s population is made up of 15% millennials, placing it at the top of the US Census Bureau’s list of top 5 cities with the highest percentage of young adults aged 25-34.
Chicago:
The consistent increase of those employed in Chicago shows the potential job opportunities in this city for recent grads. Working in the construction business along with leisure and hospitality, are the two industries showing the most promise in the last year.
One of the best perks of being in the Windy City is the food. Not only will you be exposed to top-notch restaurant service, but the National Restaurant Association hosts its annual NRA show in Chicago, which consists of “four days of meeting, seeing, tasting and testing.” It’s only one of many food festivals hosted here.
San Francisco:
“It’s expensive” is what people usually say when contemplating a move to San Fran – and with good reason. The city is known to be one of the most expensive cities to live in – right up there with New York City. But if you’re pursuing a career in technology, you may already know that Silicon Valley is a significant employer of recent graduates and pays them pretty well.
With a median income range of $65,400 to $116,800 for early-career employees working in tech jobs, it might be possible for you to afford the average rent of $3,000 for a one-bedroom apartment. You can blame the high cost of living partly on the population boom since 2010.
Even though living in the Bay Area is expensive, since 2010 the job growth rate for Silicon Valley has consistently increased – going from an increase of 1.3% over the prior year to 4.5% in 2015. So it’s no surprise this surge in employment also brought an additional 270,000 people to the Bay Area, bringing its total population to 7.4 million.
Even if you don’t like big crowds, this boom may work in your favor. At 28%, San Francisco has the highest population of 20-somethings in California. But it’s the 78% of singles in this city that might spark your interest.
Do You Agree?
By: Vanessa Sanchez (Yahoo).
Photo: Huffington Post.
Review: Emerging Market Formulations &
Research Unit, FLAGSHIP RECORDS.
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