+
“A balm for the soul”
  review on Goodreads
GOOD PEOPLE Book
upworthy

economy

Community

6 states where the minimum wage and cost of living offer the best bang for your buck

The highest state minimum wage in the U.S. is now $16.28 per hour, but some cities are even higher.

Map via Wikimedia Commons (multiple creators)

State minimum wages range from $7.25/hr to $17.00/hr in 2024.

Public discourse about minimum wage and living wages has been ongoing for years, with people debating whether the government should mandate a minimum hourly pay for workers. President Franklin D. Roosevelt signed the first federal minimum wage law in 1938, setting the lowest wage a worker could be paid at 25 cents per hour. Nearly a century later, the federal minimum wage is $7.25/hr, holding steady since 2009, with people lobbying to raise it to at least $15/hr for over a decade.

However, in addition to federal law, each state has its own laws, a handful of which establish a state minimum wage higher than $15, a handful of which don't have a set minimum wage at all and everything in between. Cost of living has also been a hot topic as inflation has squeezed everyone's wallets and certain cities and states have become utterly unaffordable, especially for people in low-wage jobs or who who are just starting out in their careers. So how do minimum wage and cost of living correlate state-by-state? Are there any sweet spots with a high(er) minimum wage and low(er) cost of living?

While there’s no perfect storm of super low cost of living and super high minimum wage—for instance, Washington, D.C. has the highest state minimum wage at $17/hr, but housing costs 140% more than the national average—there are some states where the ratio is far more favorable than others. According to Insider Monkey, here are the top six states where you can get the most bang for your minimum wage buck.

6. New Mexico

The Land of Enchantment offers a relatively decent living for its $12/hr minimum wage thanks to the state's below average cost of living. According to Rent Cafe, housing in New Mexico is 8% lower than the national average, monthly utilities are 9% lower, food is 4% lower, transportation is 3% lower and healthcare, goods and services are 2% lower.

According to Smart Asset, Albuquerque, New Mexico ranks as No. 10 in U.S. cities where minimum wage goes the furthest.

5. New Jersey

The Garden State's relatively higher-than-average cost of living is counteracted by relatively solid minimum wage of $14.13/hr. Most of the cost of living in New Jersey is wrapped up in housing, which is 30% higher than the national average, according to Rent Cafe, and utilities, which are 12% higher. Goods and services are 5% higher, but healthcare is 2% lower than the national average. Food and transportation are 1% and 2% higher, respectively.

4. Connecticut

With both a cost of living and minimum wage slightly higher than New Jersey, Connecticut rolls in at No. 4 with a $15/hr minimum wage. Where the Constitution State hits hardest is in utilities, which Rent Cafe places at 30% higher than the national average, and housing, which is 24% higher. Healthcare and goods and services are both 9% higher, while transportation and food are just 1% and 2% above average.

3. Missouri

The Show-Me State says, "Show me the money!" with its somewhat respectable $12/hr minimum wage, which goes pretty far with its relatively low cost of living. Housing is the biggest cost benefit Missouri offers at 18% lower than the national average. But utilities, food, healthcare, and goods and services are also all below average, with only transportation landing right at the national average.

Additionally, St. Louis clocked in at No. 5 for a minimum wage real-world value of $13.68 when adjusting for the city's lower-than-average cost of living.

2. Washington

With the highest state minimum wage in the nation (unless you count Washington, D.C.), Washington's $16.48/hr puts it in second place when accounting for cost of living. Make no mistake, Washington isn't cheap overall, with a cost of living 15% higher than the national average. Housing and transportation hit hard at 29% and 27% higher than the national average, respectively. Healthcare is pricey as well at 20% higher than average. Food costs 12% more, but utilities clock in at 7% less than the national average.

Two cities in Washington hit the top 15 for highest real minimum wage value, though, with Seattle at No. 13 and Spokane at No. 2.

map of united states with these states highlighted in green: Washington, New Mexico, Missouri, Illinois, New Jersey and Connecticut

These six states offer the best minimum wage to cost of living ratio.

Created with mapchart.net

1. Illinois

If you want the best bang for your minimum wage buck, head to the Prairie State with its $13/hr minimum wage and 8% lower than average cost of living. Housing in Illinois is 22% lower than average and utilities are 10% lower. The only expense that comes in higher than average for Illinois is transportation at 3% above average, which isn't enough to keep it out of the top spot.

However, there are some minimum wage sweet spots in certain U.S. cities that aren't reflected in these state rankings. According to Smart Asset, Denver, CO, is the city where minimum wage goes the farthest in the nation. Colorado comes in at a respectable 7th place in state minimum-wage-to-cost-of-living ratio, but Denver has its own mandatory minimum wage of $18.29/hr.

A citywide minimum wage is part of what puts Seattle at the No. 13 spot on that same list. Seattle is one of the most expensive cities in the U.S., but its $19.97 minimum wage for most workers changes the ratio in its favor.

Other cities in the top 10 include Buffalo, NY; Minneapolis, MN; Tucson, AZ; St. Paul, MN; Phoenix, AZ and Stockton, CA.

The minimum wage conversation may vary widely across the U.S., with different costs of living and different state laws on the books. But if you're looking to move someplace where your wage will go the furthest, these six states will likely be your best bet to check out first.


This article originally appeared in June.

From Your Site Articles
economy
Pop Culture

Nike employee goes from intern to CEO in 30 years

He's like if "Just Do It" was a person.

LinkedIn & Nike

Elliott Hill doesn't fit the usual mold of CEO of a multi-billion dollar global corporation.

He wasn't brought in from some fancy consultancy to cut the bottom line and boost profits. On the contrary. He worked his way up from the very bottom.

In this day and age, that's a pretty remarkable feat.

After being announced as the next leader of the storied company, a screenshot of Hill's LinkedIn profile went mega viral.

Why?

Well, just take a look.

Hill has only worked one place — Nike — where he started as a simple intern over 30 years ago. Now he's the CEO.

LinkedIn

Obviously, it was a long journey.

Hill spent two years as an intern, then worked his way up through Sales before becoming a VP. That alone took 10 years of hard work.

A few years later he was a President-level executive, and he continued to work on many different teams and divisions for the global brand, gaining valuable knowledge and experience with many different facets of the company

Hill briefly retired from Nike in 2020 before being recruited to come back this year.

Bringing Hill back on board comes on the heels of the previous President & CEO stepping down from the role.

John Donahoe was a former management consultant and previously served as the CEO of eBay and of a cloud computing company before joining Nike.

He was big on tech, big on cost-cutting, and big on layoffs. But he didn't know much about sneakers, or the Nike brand. The results were disastrous for what as once the biggest sneaker brand on the planet.

So Nike looked at its own homegrown talent to find a replacement, seeking someone who not only got the brand and business, but respected and understood its core customers.

Based on tenure and experience, there weren't many better candidates than Hill!

No one would ever accuse Nike of always doing the right thing over the years. But this is one good example that other companies should follow: promoting from within.

It's not a great look to bring in an outsider, hired-gun CEO to the tune of a nearly $30 million pay package, only for that person to ruthlessly slash jobs.

But it seems to be a popular choice for big companies these days: Tap a leader who will blindly optimize for profit and shareholder value and/or strip the company for parts. Capitalism, baby!

Nike the corporation will probably be more-or-less fine either way. It's the passionate sneakerheads and the dedicated employees who get hurt — the people who make the brand what it is.

Sean Lemson, a leadership development coach and author, wrote on LinkedIn:

"It was very hard for me to watch (and be swept up in) the way John and other leaders from Silicon Valley just completely devalued the nike-blooded employees who were let go over the years."

Heather Smit, a marketing and creative operations professional at Nike, was extremely candid in her own post:

"Though I survived and even thrived amidst the 2 massive reorganizations John led, they have left us with bumps, bruises, and even scars. We lost a lot. We’ve been through hell and back in the last 5 years under John’s leadership. We’re still here because we LOVE this company and we know we deserve better. The consumer deserves better. Elliott doesn’t have an easy job ahead of him, but he’s got about 80,000 hopeful and energized employees behind him, ready to go."

It's not often you find yourself rooting for a millionaire CEO, but Elliott Hill's story is just so dang inspiring we might not have a choice.

From Your Site Articles
nike
Education

Career coach shares the 8 key questions you should be asking to nail a job interview

"Asking good questions doesn't need to be complicated."

@emrezkalla/TikTok

Seven questions to help you seal the deal and stay sane.

Job interviews can be stressful, not to mention disempowering. But it’s important to remember that just as much as the employer is trying to determine whether or not you’re a right fit for the company, you are also sussing out if the company is the right fit for your own goals.

Sometimes we really are in a tight spot, where getting some income, any income, is priority #1. But more often than not, we need to think of the big picture when it comes to where we work, lest we get stuck in a situation that doesn’t actually align with our values. Which is why it’s important to spot out any red flags as soon as possible (i.e., the interview).

Luckily, a career coach has made it easier than ever to handle the dreaded “do you have any questions for us?” part of a job interview to not only stand out among other potential employees, but come out feeling confident about who they might be working for.

In a one-minute clip posted on her TikTok account @emrezkalla, Emily Rezkalla of Em Rez Consulting, pretended to be a job candidate at that part of the interview.

In this scenario, Rezkalla’s character wowed her potential employer by asking 8 very smart, very specific questions, rather than simply saying “no.” You can give them a quick look below.

Questions to ask at the end of your job interview

  • What’s an example of how you’d like the star candidate to contribute to the company beyond the job responsibilities?
  • What’s the biggest challenge the team is facing right now that you want the person in this role to resolve?
  • What are some examples of professional development opportunities that you’ve specifically benefited from at the company?
  • What kind of support does the company provide for employees looking to take on leadership roles?”
  • How would you describe the kinds of relationships the person in this role would have with their team and leadership?
  • Based on your experience, how would you describe the people at the company in three words?
  • What’s an example of how the company handles high volume/stress work days for their employees?
  • What’s a project you recently worked on that has gotten you the most excited so far?


@emrezkalla Asking good questions doesn’t need to be complicated #careeradvice #interviewprep #corporate #interviewtips #jobsearch #edutokcareer #careercoach ♬ original sound - Em The Career Pivot Mentor


Of course, this is just a basic template. Rezkalla encourages applicants to add their own flair, and to be specific in their questions. After all, “vague questions will get you vague answers.” She also notes that you probably want to only ask 1-3 of these, not all 8 in one sitting.

Rezkalla’s video got a lot of traction and praise online.

“I used your questions and they were blown away! I don’t know if I’ll get the job but at least I made it memorable,” one person wrote.

Another echoed, “I used the first one in my big interview today and they loved it.”

Many viewers were inspired to share their own tips.

“My favorite: what is the biggest challenge you face as a manager?” one person wote.

Another added, “I ask questions during the interview so by the end, I don’t have any. But I always ask about the [remaining] hiring process as in wait time for response. Then I go home and send a thank you email.”

Another person shared, “ I type out my questions beforehand and pull them out at the end. That impresses them”

“The question that has gotten most of the candidates I’ve worked with callback: is there anything on my resume or answers during this interview I can clarify for you?” suggested another.

Whether or not you get the job—and whether or not the job will turn out to be what you need in the long run—are not fully in your control. But having some of these hard hitting questions in your back pocket is just one way of reclaiming a bit of your power back, even when trying to sell yourself.

From Your Site Articles
economy
Education

Why every American should be poor at least once in their life

People who've always been financially comfortable really have no idea.

Photo by Towfiqu barbhuiya/Pexels

Being poor for a while is an eye-opening experience.

Let me start by saying that no one should have to live in poverty. I do, however, believe that every American should experience being poor at least once in their life.

I've never lived in true poverty, thankfully, but I've been poor. I've eaten government cheese. I've internalized the principals of "The Complete Tightwad Gazette" out of necessity. I know what it's like to pinch every penny and to not even think about buying anything "extra." I know the anxiety of paying for a car repair with a credit card that I can only afford minimum payments on, knowing the interest I can't afford will keep piling up.

I've also been fortunate to experience financial comfort. Not enormous wealth, but having enough to not be concerned about affording every little thing I buy. I know how it feels to go to the grocery store without a calculator. I've blown a tire and had the money to cover it. I've been annoyed instead of terrified when I have to replace an appliance. I've been able to take a vacation and splurge a little.

Being financially comfortable is better than being poor, of course. But I don't think people who've never known true financial struggle have any idea how much better it is. They may joke about being "poor" when they have to save their money for something, but they've never experienced not having any money to save.

Being poor teaches you so many things, far beyond just how to budget. You learn that it's hard as hell to climb your way out of financial trouble, how it can feel like you're stuck in a toilet bowl that's constantly swirling and pulling you back down. You learn how expensive it is to be poor—knowing you could save money in the long run shopping at Costco and buying in bulk or stocking up on things during big sales, but you have to have extra means in the moment to be able to do that.

You learn that a few hundred dollars is actually a huge amount of money. You learn that a lot of what people spend money on is totally wasteful. You learn which things are actually worth spending money on (brand names don't matter, shoe quality does). You learn to make excuses for not being able to go on fun outings with friends because you don't want to say, "Sorry, I can't afford that" and feel the awkwardness of it all.

What's surprising, though, is how much more you learn about being poor once you do have some financial ease. When you apply for a loan and get the best interest rates and the lowest fees because you have good credit and some money in the bank, you learn how much the system screws over poor people. When you are able to buy a car that doesn't constantly need repairs and furniture that doesn't fall apart after a year, it really sinks in how much more it costs to not have money. When you're able to pay less overall because you can afford the annual payment instead of the monthly payment for a service, you learn that having money saves money in ways you never imagined.

You learn gratitude for small things if you've been poor. The joy of treating yourself to a fancy coffee or some fresh flowers hits different when it's something you couldn't afford before.

You also learn that there are a lot of people who've never known financial hardship, and it blows your mind. As you spend more time in middle and upper middle class circles, you meet more and more people who aren't necessarily rich but who've never had to actually worry about money. It's not their fault, of course, but it's bizarre to witness these folks in the wild. Like, for some people, it's just normal to pay for a haircut and color at a salon every six weeks, as if it's no different than paying a phone bill. There are people who have never bought generic to save $.50 and simply wouldn't dream of doing so. There are people who set their thermostats to whatever temperature is comfortable and then just go about their day not thinking about their utility bill. It's unnerving to see things you know as luxuries just treated as the norm, to see how much freedom there is in simply not being poor.

But really, the most important lesson you (hopefully) learn from being poor is empathy. You learn not to judge someone for their financial situation. You learn that most people don't choose to be poor, and that it takes not just time and effort, but also luck and very often help, to get to a place of financial okay-ness. You learn that assuming anything about a poor person is likely wrong and that someone's financial situation is almost never a reflection of their moral character. You learn to be humble and kind and not take anything you have for granted.

I'm not saying anyone should go out and become poor on purpose. But even putting yourself through a mental exercise of trying to get by in a low-wage job or figuring out how you would handle a major financial setback can go a long way toward increasing understanding and empathy. Being poor isn't a necessity, but it does provide a valuable first-hand perspective that can be hard to get otherwise.

From Your Site Articles
finances
Trending Stories