And go where, to work in securities law and private equity?
There's basically one other option - San Francisco, which is worse.
Her complaint had nothing to do with working in securities law and private equity. It was the excessive tax burden and COL in New York.
Upthread I suggested they pay off their student debt and move south. Yes, they may take on lower paying jobs, but in the long run - they will make much more money and pay much less in taxes.