Determine Your Purchasing Power
South Dakota's Real Wage Calculator Unlike Other Online Tools
The South Dakota Governor's Office of Economic Development has recently updated one of it's most useful tools - the Real Wage Calculator.
"Our Real Wage Calculator is different than other online salary tools," explained GOED Commissioner Scott Stern. "Ours is the only one that we know of that takes wages, state and federal income taxes, social security, and cost-of-living factors into consideration."
To use the calculator, users simply select an MSA, state, or region, add a gross wage, and press "calculate." Up to three locations can be selected, giving job seekers an apples-to-apples comparison of how salaries compare in different locations. After the numbers are analyzed, the Real Wage Calculator gives you your after tax wages and your purchasing power.
"Our purchasing power shows us how much we can buy with our wages. It is purchasing power, not gross pay, that is the true measure of how well you are compensated," said Stern.
"South Dakota generally shows well when all factors are taken into account," Stern said. "We hope both job seekers and employers will utilize this tool to make informed decisions when considering relocation."
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