New York offers the worst cost-of-living tradeoff of any major city for new college grads. Starting salaries go further in these 14 metros.

• New graduates in Austin, Atlanta, and Houston earn the highest cost-of-living-adjusted starting salaries, per Gusto.
• New York City attracts the largest share of new grad hires despite offering a smaller adjusted salary.
• More Americans are migrating South for better cost-of-living and job opportunities.

Recent college graduates are flocking to New York City for their first jobs, but their degrees may go the furthest in Texas or Georgia.

New data from small business payment platform Gusto reveals new grads in Austin, Atlanta, and Houston have the highest cost-of-living-adjusted starting salaries when factoring in housing and other expenses.