ADVANTAGES OF WORKING IN THE NRV
COST OF LIVING & BUYING POWER
With over 80 companies and almost 800 IT-related job postings in the past year, the New River Valley is an emerging hub for IT. Not only do IT professionals in the NRV have competitive salaries, they also have way more buying power compared to other professionals in IT hubs like the Washington, D.C. Metro/Northern Virginia (NOVA) area. Just looking at the salary face value, it is easy to see why some professionals may choose NOVA over the NRV however IT professionals in the NRV are netting more. The most common IT position in the NRV is a software developer who on average makes $90,570 a year, compared to $117,450 in NOVA (Bureau of Labor of Statistics 2018). However when you calculate in the Cost of Living Index (2019 Q2) for both areas, 95 for the NRV and 163.4 for NOVA, there is a drastic difference. Adjusting the NRV salary to the NOVA COLI, the adjusted NRV salary in NOVA would be $155,780, which is approximately $38,330 more than NOVA software developers. So while the salaries in the NRV may not look competitive at first glance, we know that those choosing jobs in the NRV means taking home more.
SALARIES IN THE NRV
Bureau of Labor Statistics (2018)