Minimum wage, by definition, is a high enough pay needed to maintain a normal standard of living. Given NYC is the most expensive place in the world, its living wage is naturally higher comparatively; it is $14.52 per hour-per adult, to be precise. And perhaps this is the biggest obstruction for self-employed people looking to move to this vibrant city but cant because of financial constraints; because their business doesnt yield as much as required to maintain a normal standard of living in New York.