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<p>Dartmouth College is a national institution. It draws students and faculty from all over the country (and to some extent, the world). Only 20% of the class of 2015 come from New England. Nearly as many come from out West ([Class</a> Profile](<a href=“http://www.dartmouth.edu/admissions/facts/class.html]Class”>http://www.dartmouth.edu/admissions/facts/class.html)). Without looking at any data, I would assume Dartmouth alumni do have a higher per capita representation than South Carolina alumni in high cost-of-living areas such as Boston, NYC, San Francisco (and possibly Atlanta) … but I would say that should be a good thing from your perspective. It would indicate that Dartmouth alumni are getting more jobs in a variety of competitive markets. It may in fact be the case that a student’s willingness to attend a selective “national” institution, aside from educational quality differences per se, accounts for much of the income differential (because it indicates a stronger propensity to seek out rewarding opportunities regardless of location). If you’re going to confine yourself to a small regional job market, it stands to reason you may have fewer highly rewarding choices. </p>
<p>I don’t think the pay difference between a Wall Street investment banker and a small town regional branch bank manager in South Carolina can all be attributed to cost of living. Not nearly. Your parents must have other issues (like, with the concept of “Wall Street investment banker”). </p>
<p>New Hampshire, by the way, has no general sales tax and no tax on wage income. It is the only US state other than Alaska that collects neither of these taxes.</p>