[justmadhu]

Agree with last comment -- Salary is roughly equivalent, but cost of living in NYC is much higher. While you can rent for cheap in NY due to transit, you can do that in SF too (see: Dogpatch). Cost of food, entertainment, etc. is way higher in NY. (Reference: I lived in NY for 5 yrs, and SF for about 6 months now)

[fennecfoxen]

The Dogpatch is cheap? When was this? Last I checked you're likely looking at $2500+/mo for a 1BR. Maybe if you keep heading down towards Bayview, Portola, and Sunnydale (never mind the deterioration of the neighborhood) you can get closer to "rent for cheap". I think I'd actually favor the Sunset, but you'll have to head out a ways because inner-Sunset and Cole Valley are heating up.