New York: The economic hub of the US is not the best place for newly graduated people to start their careers. A new survey has revealed that New York City is the least suitable location in the US for recent graduates to launch their careers.
WalletHub, a personal finance website, has advised young graduates to reconsider their decision to move to New York. The researchers compared the availability of entry-level jobs, housing affordability, and commuter friendliness in cities to rank the cities. The number of entry-level jobs available per 100,000 working-age residents, the average monthly starting salary, and the average length of the work week were among the metrics.
New York ranked 182 after considering 26 metrics across categories linked to professional opportunities and quality of life. The city was also found to have the lowest number of entry-level jobs per 100,000 professionals aged 16. It was 18 times lower than the city that took the top spot in the survey.
However, not everyone agrees with the '2023's Best and Worst Places to Start a Career' report.
Barry Drexler, a career coach in New York, disagrees with the report and told Fox News that it is surprising to find New York ranked last. "I don't agree with it, and I'm speaking from someone whose office is currently in New York."
In terms of monthly average starting salaries adjusted for cost of living, the highest-ranking American cities are Austin, Houston, Fort Worth, Durham, and Tacoma. The lowest-ranking cities in the category are Gulfport, Anchorage, Honolulu, Pearl City, and Juneau. Austin is three times better than Juneau.
In terms of entry-level jobs, Orlando, Columbia, St. Louis, Salt Lake City, and Cincinnati ranked on top. Garden Grove, Los Angeles, Moreno Valley, and Santa Clarita joined New York at the bottom.
As per the total score given by the researchers, cities that give overall best chances to young graduates are Atlanta, Orlando, Salt Lake City, Columbia, Tampa, Charleston, Miami, Austin, Minneapolis, and Pittsburgh. Cities that joined New York at the bottom are Gulfport, Newark, Detroit, Santa Clarita, North Las Vegas, Shreveport, Moreno Valley, Oxnard, and Yonkers.