London knocked from top spot as most expensive city in the world to work

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It's no secret secret that living and working in New York is expensive – the cost of living is so high that even those making six figures can still only manage to get by comfortably.

New York is undoubtedly one of the most expensive cities in the country, seemingly only rivaled by the home of Silicon Valley home, San Francisco.

SEE ALSO: Here's how Brexit could affect your travel plans

But it looks like the Big Apple just took another big title.

New York City has knocked London from the top spot as the most expensive city to work in the world.

The Wall Street Journal reports:

"Total accommodation costs in New York for one employee over a year were $114,010 in July, up 2% from December last year."

London costs, on the other hand, dropped an astonishing 11 percent to just over about $100K a year.

Is Brexit to blame?

Experts are hinting that it's possible.

Yolande Barnes, head of world research at Savills, explained:

"Brexit has made London more competitive, at least in terms of cost. Of course, other factors might mean it won't be."

Though New York might have clinched the top spot as most expensive for the career-oriented, we think it's safe to say that neither city is a bargain.

Now, check out the 10 cities with the highest cost of living in the world:

11 PHOTOS
The 10 most expensive cities to live in the world
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The 10 most expensive cities to live in the world

8. TIE - Los Angeles, US

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8. TIE - Seoul, South Korea

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8. TIE - Copenhagen, Denmark

(Photo via Getty)

7. New York, US

(Photo via Getty)

6. London, UK

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5. Paris, France

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4. Geneva, Switzerland

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3. Hong Kong, Hong Kong

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2. Zurich, Switzerland

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1. Singapore, Singapore

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