Have you ever thought about working in a place other than the south?

I was born in Wisconsin, but my parents moved to the Tampa Bay area when I was only a year, or so, old.

I don't think, and I say 'think' because I don't have hard data, there is a huge difference in compensation for people in the south when compared to counterparts elsewhere...especially at the junior level. Banks are pretty standard when it comes to pay and if for some reason they aren't, it's only going to be a difference of a $5k or $10k on salary and probably a similar amount on bonus. Obviously where you work is going to have a huge impact on that...that is to say the actually bank you work for...as it will be relative to the profitability of the bank and the firm's compensation culture. A buddy of mine at Wells Fargo in Charlotte made about $150k all-in last year as a second year analyst. That is on par with what people make in NYC as second year analyst, except his $1,800 per month of living expenses pays the mortgage on his 4,000 square foot house. Many people won't care for a life like that so NYC is better suited for them, but to each their own. The pay difference, or variance, seems to come in more at the senior levels...because it just depends on the individual person and each firm. Compensation is usually heavily weighted towards bonus so at senior levels I think salaries are less important. Again you have the cost of living adjustment where $2mm will buy you a 10,000+ square foot mini estate on a lake or in a 'prestigious' neighborhood in the south, whereas that will get you a solid apartment in NYC, that still might be small for raising a family.

I'm at a boutique PE fund...that is to say we are smaller and have a specific focus.

I'm already in the south, so this question isn't 100% applicable, however, I hope to gain admission to a business school for next year and will have to start the job search process over. I hope to end up back in the south but given the poor market conditions I will go where ever I need to in order to be employed.

Cost of living is a huge plus. I rent a bedroom in a 1,200 square foot condo on a high floor in Midtown Atlanta (the heart of the city) with a parking spot in a secure parking garage for $1,000 per month...and that includes cable, water, electricity, internet, gym, pool, media room, conference room, a spectacular view of Buckhead (the northern heart of the city, if you will, lol) and I am a block away from restaurants and one of the main club/bar areas and half a block away from our 'central park'. It's about half a mile from a grocery store, which I can drive to...because I can afford to own a car...but I only live 2 blocks from my office so I walk to work everyday. During the summer there is always a pool going on, nearly every Saturday and Sunday and that means hot women in tiny bikinis. In Atlanta specifically, we have lots of festivals (music, beer, wine, art, food, etc) going on mostly year round.

Let me know if you have any other questions.

Regards