Remote Work Means Pay Cuts for White Collar Workers in NYC

Companies in America’s costliest cities are paying at least 40% more for most white-collar jobs than the average wage in other U.S. regions, according to Upwork, a global freelancing platform.

But the remote-work trend, accelerated by Covid-19, is likely to change that and potentially reshape the economy in the process, Upwork economist Adam Ozimek wrote in a report released Thursday.

Remote work “presents one of the first structural changes in the economy” to address the wide wage gap between two people doing the same job from different parts of the country, he said. That means companies can cut back ...