How much is too much...
to spend on a suit?
Honestly
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for analyst? I would probably put the mark at 1000-1500.
for CEO of course it would be a different story
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
I'd keep it under $600, at least for a first year. Its your call though, if you really want to spend the money and the suit isn't flashy, go for it.
1 - $800 suit and about 4 $300 suits...it's really hard to tell the difference, but I don't really need anymore than that bc it's business casual where i work
Find value in what you buy. The Saks and Nordstrom outlets offer suits for at least 50-75% off retail. Get a suit which fits right, tailored to your body, and of a good brand and fabric.
Shirt, tie, and shoes should not be skimped on either. At the very least, learn how to tie a tie properly (match knot type to shirt collar) and shine your shoes daily.
shine your shoes daily. that's like 10-15 a day, unless you shine your shoes yourself.
If you work in NYC, go shopping in New Jersey. Even at an upscale mall, the prices are slightly lower, and there's no sales tax on clothing.
get yourself a nice hugo boss which is roughly around $800 and spring for two extra pairs of pants. joseph and lyman make decent suits, and bloomingdale's usually has those on sale for 40 off ever so often. burberry in the spring usually does a special sale for men's suiting and will tailor a suit, your choice fabric, for the same price as their off the rack suit. check with the store. it's usually around april. but it is very important to get yourself a nice pair of shoes, buy a couple pairs of gucci.
DO NOT buy a Boss suit. Boss Suits are trendy silhouettes with cheap, flashy fabric. Worst of all, it is a fused suit. Fused suits are glued together, meaning when you are working 18+hour days, the shoulders will not drape properly after a few wears due to the glue. Get a nice canvassed suit in navy or gray, never black. Canali, Pal Zileri, Zegna (not Z Zegna), Hickey Freeman are great suits which can be found under $500 if you shop around. Joseph & Lyman is Bloomingdale's house brand, so it is probably manufactured in China and is a fused garment. Do not bother.
As for shoes, most of the lower end Ferregamo's aren't worth the price tag they command - Tramezza is a different story. Go to Brooks Brothers and shop their Peal line, as they are made by Crockett & Jones. Ralph Lauren Purple Label is made by Edward Green, and John Lobb's and Kiton's are the best you can buy (but not afford at this point).
Also, right now is a great time to pick up some shirts. Charles Tyrwhitt makes great shirts for the money, you can get them for around $40-$70. Beware, some of their latest styles are Made in China. IF you don't mind that, get a few Made to Measure shirts from mytailor.com. It will take a few times to get the shirt measurements down, so order only one the first time. After they have perfected your shirt, go for it. They have nice poplins, sea islands, but more importantly Thomas Mahon fabric shirts from $79-$189 for the Mahon's.
shoes: allen edmonds park avenue?
CT shirts are slim but too narrow if you have any shoulders/chest at all. my 2 cents
Ties matter more.
Go get hermes and Ferragamo ties to wear with decent suits.
Guccis or Ferragamos for shoes.
Do you exclusively prefer the patterned designs of Ferregamo & Hermes? Kiton, Borelli, Barbera, and Carlo Franco (an online merchant) make an excellent seven fold tie.
Brioni at $165 is nice, but overpriced IMO. I think the Charvet is a better tie at that price.
Do NOT buy Boss. Terrible quality (plus I think they're made in some random Eastern European country).
Ferragamo Studio line is not great in terms of quality but if you shop around and get a good deal (less than 200) they've got some decent looking models. Plus as an analyst I wouldn't get caught dead in Tramezza since it's so easily recognizable.
If you're in Manhattan, check out Cego for some decent made to measure shirts (cego.com). Good customer service and no need to screw around with an online made to measure service.
I've also owned Burberry suits and wasn't terribly impressed. The construction is fused or at least half-fused, although they offer odd sizes, which is nice.
what color suits are appropriate in the workplace?
Obviously all black or all blue. What about all grey?
Emporio Armani suits are nice
Guys, seriously. Stop throwing out brands that you perceive to be quality from their marketing. Armani, Boss, Burberry...most of this stuff is pure crap for the money you pay for (600+). Learn a little bit about how a suit is constructed and try some better quality suits on and then go out and find deals online or at Century 21 or something. Ask the salesman if a suit is fused or canvassed, if it's Super 100's or 120's wool to get an idea about durability, and look at the overall fit and construction of the suit (boxy shoulders vs. sack/natural, horn buttons vs. plastic, does the back of the neck bunch behind your collar?). If the salesman has no idea what you're talking about, then run away as fast as you can...
Hickey Freeman are fantastic suits, but they're not cheap. $1275 off the rack and probably $1675 or so for custom.
Burberry's blazers are fine, I wouldn't buy Boss or Armani.
If you're bus casual, pick up 2 pairs of black ferragamo/gucci loafers and 2 pairs of brown. The classic ones. Nothing fancy or anything that looks like a pimp would wear. You'll know the ones.
As far as Game Theory's comments, he's somewhat right, but you can find out materials on the tag and a good store can have a roll in the upper back taken in if it doesn't fit you right.
I think the answer is to buy custom high quality and keep them for years, b/c I ended up buying those anyways after 1 year...
Hickey Freeman has two lines in the sub $2k range. I know the lower line is fused at the shoulders, and the higher echelon is not.
Go to Century 21, Filene's Basement, Off 5th Saks outlet, Nordstrom Rack, and even Bloomingdales for great deals. Two points for clarification:
Never buy a black suit. A black suit is only appropriate for weddings, funerals, and very formal events. Gray (the darker the better, as sharkskin is a little bit more flashy) and navy are seen as the only appropriate colors for business. I like Chocolate Brown, but others do not. You can do windowpanes or pinstripes, just nothing too crazy.
Armani (Collezioni, Emporio Armani, Giorgio Armani) are all garbage. They do have nice sillhouettes, but the quality is not up to par. The $2k - $4k range stinks IMO, as retail pricing does not allow you to purchase the best off the rack (Barbera, Kiton, Brioni, Oxxford) and you're better off going bespoke (completely custom) in that price range.
Also, check to see if Burberry's blazers are Made in UK or US. Chances are U.S., which is fine, but don't expect Savile Row quality.
shoe shines cost 5 bucks
My philosophy is to let companies do what they do best. That means buying shoes from a brand thats original and main focus is shoes, a suitmaker for suits, etc. Avoiding the high fashion brands where you pay a premium to pay for their marketing costs (for example, I would never buy a timepeice from a jeweler, like Tiffany). Burberry is known for their trenchcoats and I have no problem owning one if I like the style and it's not too ostentatious.
There are exceptions to the rule, of course. But generally speaking you can't go wrong if you stick to that and find good deals.
More important than how much the suit costs or what brand it is... is how well it fits you. A cheaper suit that is well tailored is far better then a poorly fitting more expensive one
don't bother with off the rack suits. get some custom made from bangkok for less than 250USD delivered to your door. 100% wool + the workmanship is apparently quite good. i for one will be going there next month to get a few. i think that the tailors go to NY quite frequently so you could setup and appointment with them to take your measurements too if you are not travelling to asia.
http://asongtailor.com/ http://www.crowntailor.com http://www.dress-for-success.com/ (this guy apparently made george bush's suit but he could be a little pricier.)
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