How do so many young people in their 20s in New York and Paris afford $100,000 outfits?

Not uncommon to pass by young women in their 20s in NYC or Paris, etc casually wearing tens or hundreds of thousands of dollars worth of clothes or sometimes wearing a few million dollars worth of jewelry. Obviously, you can’t afford this if you’re in investment banking and private equity unless you are in the more senior levels. They’re normally humble, and I doubt all of them inherited money from their parents. So what kind of work supports this type of spending at such a young age?

 

Retweet on #5. People are shallow as hell. They don’t care if it’s the real thing or not, just that it LOOKS real. This means the used luxury goods market is also booming where you can buy many of these pieces for half-off.

 

Yeah I think OP assumes what they are wearing is real, as a black dude, I always wanted those diamond cuban link chains I see a lot of other black guys wearing in NYC, Miami and LA. I went to Trax on 46th and found out that they start at $60k and I immediately knew most of what those guys were wearing weren't original. No way a guy who lives in a shared studio in the bronx and works at a skate shop with no car has that kind of money for a chain 

 

Wayyyyy more of this is fake than you'd think. /r/fashionreps has 800,000 subscribers on reddit lmao.

Also wearing 100k is really really hard unless you're wearing a lot of jewelery, and even then it's pretty hard to rack up 100k without looking extremely gaudy.

 

Agree with this, but will add that a $100k watch can look gaudy or actually blend in and be simple. I have friends with time only $100k watches that won’t get a second look on the subway. 

As for the OP, this is a ridiculous post. You don’t see many people with $100k of stuff, that’s insane (and very hard to do as this poster says). 

 

I would suspect most all of it is counterfeit. Followed by wealthy “benefactor” down to a very small percentage actually buying it themselves. 

The only people I know who could afford that regularly are typically very understated.  Nice tailored clothing and accessories abound but nothing so gaudy as that influencer hype culture. Maybe for big charity events the big stuff comes out. 

 

It’s hard to spend 100k on clothes for a single outfit. A bespoke suit from Saville row and John Lobb shoes aren’t going to get you a quarter of the way there. Watches sure you can spend six or seven figures, but I think it’s mostly fake or rented/borrowed. As Wyclef Jean sang “It’s not all that blings is diamonds…most of y’all wear cubic zirconium”.

 

Consequatur ipsum voluptatibus illo debitis error et voluptatum. Consectetur nihil explicabo aut voluptatum.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 17 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 19 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (93) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (69) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (149) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
kanon's picture
kanon
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”