11/19/11

1st year quant analyst in a major midwest city.

salary is 85k + bonus.

expenditures-
Housing- $430/mo. I live in a large house with 4 other friends
Bus pass- $90/mo
food-$200/mo
1 nice weekend out/mo-$150
miscellaneous-$100

no car.

I live on under $1000/month. How SICK is this.

Comments (54)

Best Response
11/21/11

You need to strike a balance between frugality and comfort. Once you have a reasonable savings built up, you really need to start spending money on things that make you happy. This could be travel, food, conveniences, whatever it may be. I'm a big fan of savings myself and continue to build a large savings, but I pick and choose where to cut costs carefully. Being thrifty isn't necessarily about spending the least amount of money possible, but more about getting the most bang for your buck.

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11/19/11

You live with 4 other people, you take a bus to get around, you live on $7 per day for food, and you go out once a month. I have you beat in every way.

11/19/11

So, you can't beat this amount. Thanks for the reply!

11/19/11

That sounds miserable.

11/19/11

doin the ramen noodles huh

11/19/11

I hate to go against the grain and go against all the long-time ballin posters, but I definitely agree with your lifestyle.

Save money now and invest, so you don't have to have nothing to fall back to when you're umemployed and things go to shit.

Smart move, OP...but all that comes at a price that i guess you're willing to pay.

Man cannot remake himself without suffering, for he is both the marble and the sculptor. -Dr. Alexis Carrel

In reply to goldman in da house
11/19/11
goldman in da house:

You live with 4 other people, you take a bus to get around, you live on $7 per day for food, and you go out once a month. I have you beat in every way.

HAHAHAHAHAH. right on

11/19/11

I actually have you beat in every way.

I make more then you.
I have bitches drive me around.
I eat out, alot.
The secretary wants to blow me.
I live in a city with way more easy pussy then you do.

Im not sure how you can possibly beat me.

AND I negoaited housing as part of my compensation package. POW!

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

11/19/11

I eat very well...just not out. You can purchase a very healthy lunch from a grocery store (which you have to make yourself) for about 3.50. I eat very little for dinner, so the price for that comes out about the same...

So, I eat well, feel great, maintain weight, and spend less money.

"Easy pussy," imo, is probably easy for a reason.

I'm 22, plenty of people on the street make more than I do because plenty of people are older than I am.

I'm just watching that portfolio growww

11/19/11
11/19/11

Was I ever flaunting my salary?

I'm trying to get a sense of the frugality of users on this form.

If you want to talk about salary, take a look at the quant 500k post. That's a senior analyst in my group. 3 years exp.

11/19/11

Absolutely love c++, projecteuler.net, xbox 360, and going out to bars/clubs. Not much of a drinker.

11/19/11

The people here are saying, that they live more baller lives then you. People (ecluding IP) who are in finance are there to live baller lives. You sir are openly bragging about not living a baller life therefore we look down at you. But you will more then likely get a SB from IP for living on the cheap. And FYI, I have you beat, by far, I make more and spend less and live way more baller then you.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

11/19/11

So you spend less than 1k/mo? Impossible given what you said earlier.

11/19/11

And if so, would love to know how you do it!

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11/19/11

200/month on food!?!? Are you a Somalian??

In reply to wadtk
11/19/11
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

No not impossible. I eat at the office, they provied meals. The firm pays for my housing. I spend on average 600 to 700 a month going out. I get girls to spend their own money to drive me around. I spend more money a month then you claim you do but I was doing an apples to apples comparison.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

In reply to wadtk
11/19/11
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

I think he meant as a % of total compensation.

In reply to heister
11/19/11
heister:
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

No not impossible. I eat at the office, they provied meals. The firm pays for my housing. I spend on average 600 to 700 a month going out. I get girls to spend their own money to drive me around. I spend more money a month then you claim you do but I was doing an apples to apples comparison.

Pretty sick. What city you in?

In reply to Brady4MVP
11/19/11
Brady4MVP:
heister:
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

No not impossible. I eat at the office, they provied meals. The firm pays for my housing. I spend on average 600 to 700 a month going out. I get girls to spend their own money to drive me around. I spend more money a month then you claim you do but I was doing an apples to apples comparison.

Pretty sick. What city you in?

Several, I split work time between NYC, Boston and right now I am doing a project in Austin.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

11/19/11

1 weekend out / month.

2 days in 30 you have to enjoy your life. You enjoy less than 6% of your life, assuming sleep is not counted.

Some may wish they had your life, I ain't one of them. You are a slave to money and to the opinions of others. I"m happier than you could ever be.

11/19/11

maybe good for the states, (though you are in the midwest....) but then compare yourself to the big internet marketers / global arbitragists / remote entrepreneurs living on $1-2k a month (and making x3 that min.) in beautiful 3rd world countries/paradises: bali/colombia/Bay islands/Boracay Philippines/ Kao Samui etc etc

WSO's COO (Chief Operating Orangutan) | My story | My Linkedin

PM me if you're traveling to Buenos Aires in 2016 (I live here) :-)

11/19/11

You live in few parts of the country where you could work in finance and need to own a car yet take the bus. Are you IP's child?

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

11/19/11
wadtk:

1st year quant analyst in a major midwest city.

salary is 85k + bonus.

expenditures-
Housing- $430/mo. I live in a large house with 4 other friends
Bus pass- $90/mo
food-$200/mo
1 nice weekend out/mo-$150
miscellaneous-$100

no car.

I live on under $1000/month. How SICK is this.

Do things like computers, furniture, suits/shoes/ties/shirts, health insurance, gym membership and that all fall under miscellaneous? If so, $100 a month is quite good!

If I were you I'd travel a bit and see the world with the money you have. You might realise what a great big place it is.

Just Do It

In reply to heister
11/19/11
heister:
Brady4MVP:
heister:
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

No not impossible. I eat at the office, they provied meals. The firm pays for my housing. I spend on average 600 to 700 a month going out. I get girls to spend their own money to drive me around. I spend more money a month then you claim you do but I was doing an apples to apples comparison.

Pretty sick. What city you in?

Sweet. Those are all great cities. Interesting that you work at a hedge fund but split your time between multiple cities.

Several, I split work time between NYC, Boston and right now I am doing a project in Austin.

11/19/11

Oh yeah, just a piece of advice from someone older than you. Check this out.
http://www.ted.com/talks/ric_elias.html

You're born naked and you die naked. Of course its nice to leave a legacy but nothing wrong with having a bit of fun along the way.

Just Do It

In reply to heister
11/19/11
heister:

I actually have you beat in every way.

I make more then you.
I have bitches drive me around.
I eat out, alot.
The secretary wants to blow me.
I live in a city with way more easy pussy then you do.

Im not sure how you can possibly beat me.

AND I negoaited housing as part of my compensation package. POW!

Enjoy the boom man, you're also facing a tougher bust than he probably is. That being said, if you have the skills, go where the growth is.

Still though, unless you have family obligations/heavy loans or really want to start a business/go to grad school soon, I see no reason to subject yourself to that. That that point marginal benefits of well thought out, budgeted spending exclude the marginal costs for the vast majority of individuals making your salary.

In reply to maximumlikelihood
11/19/11
maximumlikelihood:

Oh yeah, just a piece of advice from someone older than you. Check this out.
http://www.ted.com/talks/ric_elias.html

You're born naked and you die naked. Of course its nice to leave a legacy but nothing wrong with having a bit of fun along the way.

Very inspiring video, thanks for posting.

11/20/11

take the thomas jefferson approach: live the life of an international playboy--wine hard, dine hard, fuck on three continents and die in huge fucking debt (he was $20,000 in the hole in early 19th century dollars. someone inflate that to 2011 USD for me).

In reply to maximumlikelihood
11/20/11
maximumlikelihood:

Oh yeah, just a piece of advice from someone older than you. Check this out.
http://www.ted.com/talks/ric_elias.html

You're born naked and you die naked. Of course its nice to leave a legacy but nothing wrong with having a bit of fun along the way.

#Real talk. I absolutely loved that speech and its definitely an advice almost all of us could learn from.

In reply to ivoteforthatguy
11/20/11
ivoteforthatguy:

take the thomas jefferson approach: live the life of an international playboy--wine hard, dine hard, fuck on three continents and die in huge fucking debt (he was $20,000 in the hole in early 19th century dollars. someone inflate that to 2011 USD for me).

$455,000.00 using the Consumer Price Index
$484,000.00 using the GDP deflator
$12,500,000.00 using the nominal GDP per capita
$339,000,000.00 using the relative share of GDP

In reply to monkeyc
11/20/11
monkeyc:
heister:

I actually have you beat in every way.

I make more then you.
I have bitches drive me around.
I eat out, alot.
The secretary wants to blow me.
I live in a city with way more easy pussy then you do.

Im not sure how you can possibly beat me.

AND I negoaited housing as part of my compensation package. POW!

Enjoy the boom man, you're also facing a tougher bust than he probably is. That being said, if you have the skills, go where the growth is.

Still though, unless you have family obligations/heavy loans or really want to start a business/go to grad school soon, I see no reason to subject yourself to that. That that point marginal benefits of well thought out, budgeted spending exclude the marginal costs for the vast majority of individuals making your salary.

Not sure what you are addressing in my post. But no he is facing a far tougher bust then I am. I could get fired today and continue to live my current lifestyle with out the need to find another job. Or I could step up my lifestyle considerably and still not need to get a job. My working salary is but a minute part of my overall yearly capital intake. I work because I enjoy what I do, not because I have to.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

In reply to Brady4MVP
11/20/11
Brady4MVP:
heister:
Brady4MVP:
heister:
wadtk:

So you spend less than 1k/mo? Impossible given what you said earlier.

No not impossible. I eat at the office, they provied meals. The firm pays for my housing. I spend on average 600 to 700 a month going out. I get girls to spend their own money to drive me around. I spend more money a month then you claim you do but I was doing an apples to apples comparison.

Pretty sick. What city you in?

Sweet. Those are all great cities. Interesting that you work at a hedge fund but split your time between multiple cities.

Several, I split work time between NYC, Boston and right now I am doing a project in Austin.

It looks like you forgot to include a post.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

11/21/11

It has been 2 days and Illini hasn't posted in this thread. I really hope he's okay..

In reply to bfin
11/21/11
blackfinancier:

You live in few parts of the country where you could work in finance and need to own a car yet take the bus. Are you IP's child?

^^This for the win!!

I would swear you were IP's illegitimate love child but I'm sure the thought of possibly ever paying child support leaves him so paralyzed with fear that he took a vow of celibacy and conducted a vasectomy at home 1) to make sure it was actually done and 2) because he invested his insurance co-pay in a Roth IRA.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so."
- Ronald Reagan

In reply to wadtk
11/23/11

wadtk:
Absolutely love c++, projecteuler.net, xbox 360, and going out to bars/clubs. Not much of a drinker.

OP look-alike:

Kidding brah. Now I'm thinking along the same line with you, I just want to make enough for basic needs and spend like you. After work, I want to play soccer simulation, drink beer on weekdays and booze at weekend. Hope my gf move in with me in NY in the summer as well.

Nobody wants to work for it anymore. There's no honor in taking the after school job at Mickey D's. Honor's in the dollar, kid.

11/23/11

At least your operating expenses are low. So whatcha gonna do with all that extra money?

11/23/11

I hear all of you. About to pay off all of my student loans in one lump sum. Has been worth it to live "lightly."

So many recent grads (whether MBA/MS/BS) spend their money on the dumbest shit.

Whenever I spend $25 I say to myself, "there goes another share of Microsoft."

In reply to wadtk
11/23/11
wadtk:

I hear all of you. About to pay off all of my student loans in one lump sum. Has been worth it to live "lightly."

So many recent grads (whether MBA/MS/BS) spend their money on the dumbest shit.

Whenever I spend $25 I say to myself, "there goes another share of Microsoft."

When ever I spend money on drinks I say to myself "Easy pussy tonight pal."

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

In reply to heister
11/23/11
heister:
wadtk:

I hear all of you. About to pay off all of my student loans in one lump sum. Has been worth it to live "lightly."

So many recent grads (whether MBA/MS/BS) spend their money on the dumbest shit.

Whenever I spend $25 I say to myself, "there goes another share of Microsoft."

When ever I spend money on drinks I say to myself "Easy pussy tonight pal."

Can't tell if serious

In reply to jaschen27
11/23/11
jaschen27:
heister:
wadtk:

I hear all of you. About to pay off all of my student loans in one lump sum. Has been worth it to live "lightly."

So many recent grads (whether MBA/MS/BS) spend their money on the dumbest shit.

Whenever I spend $25 I say to myself, "there goes another share of Microsoft."

When ever I spend money on drinks I say to myself "Easy pussy tonight pal."

Can't tell if serious

Do I ever kid?

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

In reply to heister
11/23/11
heister:
jaschen27:
heister:
wadtk:

I hear all of you. About to pay off all of my student loans in one lump sum. Has been worth it to live "lightly."

So many recent grads (whether MBA/MS/BS) spend their money on the dumbest shit.

Whenever I spend $25 I say to myself, "there goes another share of Microsoft."

When ever I spend money on drinks I say to myself "Easy pussy tonight pal."

Can't tell if serious

Do I ever kid?

I'm guessing at least sometimes, seeing as how you're such a complete badass

11/23/11

are you happy though? I am not happy where i live so i have to spend alot on travel and on the materials things that actually dont matter. I'm actually jealous of you.

11/23/11

Yeah, I am. Unlike heister, I don't need pussy to make me feel like a baller. Fuck that noise. Most girls in the clubs are ugly skanks who probably banged the bartender the night before.

Getting the med school/MD chicks. Now that's badass.

Living with other people (still having your own room) is light years more fun than living on your own.

In reply to wadtk
11/23/11
wadtk:

Yeah, I am. Unlike heister, I don't need pussy to make me feel like a baller. Fuck that noise. Most girls in the clubs are ugly skanks who probably banged the bartender the night before.

Getting the med school/MD chicks. Now that's badass.

Living with other people (still having your own room) is light years more fun than living on your own.

I didnt realize that fun was measured in light years. Anyway, ballerness is totally measured in amount of pussy obtained, and why should i care about how much fun a place is. All I ever do is sleep there.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

In reply to heister
11/24/11
heister:
wadtk:

Yeah, I am. Unlike heister, I don't need pussy to make me feel like a baller. Fuck that noise. Most girls in the clubs are ugly skanks who probably banged the bartender the night before.

Getting the med school/MD chicks. Now that's badass.

Living with other people (still having your own room) is light years more fun than living on your own.

I didnt realize that fun was measured in light years. Anyway, ballerness is totally measured in amount of pussy obtained, and why should i care about how much fun a place is. All I ever do is sleep there.

A light year is a measurable quantity, is it not?

So, as a corollary, the quality of pussy does not factor into the amount of ballerness obtained from said pussy. Further, higher probability of stds increases ballerness?

Never said you should care about "how much fun a place is." Simply stated an opinion.

11/24/11

I go to a 55k/ year school for free.
I eat their food for free.
I go to the gym for free.
I get awesome housing for free.
I get pussy for free. (I have a gf)
I could drink if I wanted to for free. (Frat parties/other parties)

So, until I graduate, I HAVE YOU ALL BEAT! ; )

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

11/24/11

I pay for everything, guess that means i suck :(

I eat success for breakfast...with skim milk

In reply to Will Hunting
11/24/11
Will Hunting:

I go to a 55k/ year school for free.
I eat their food for free.
I go to the gym for free.
I get awesome housing for free.
I get pussy for free. (I have a gf)
I could drink if I wanted to for free. (Frat parties/other parties)

So, until I graduate, I HAVE YOU ALL BEAT! ; )

You think your girlfriend doesn't come at a price?

Ah, to be young and naive.

I think that we are all clinging to a great many piano tops...

In reply to ekimlacks
11/24/11
ekimlacks:
Will Hunting:

I go to a 55k/ year school for free.
I eat their food for free.
I go to the gym for free.
I get awesome housing for free.
I get pussy for free. (I have a gf)
I could drink if I wanted to for free. (Frat parties/other parties)

So, until I graduate, I HAVE YOU ALL BEAT! ; )

You think your girlfriend doesn't come at a price?

Ah, to be young and naive.

Well, if you are referring to the amount of money I spend on her then you are assuming wrong. I pay for things but it is basically a 50:50 split between us on most things.

If you mean the life I am forgoing to be with her (ie. partying/banging other girls) I got that out of my system in high school. Also, I hate drinking and almost everyone who drinks so there's that as well.

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

In reply to wadtk
11/24/11
wadtk:

Absolutely love c++, projecteuler.net, xbox 360, and going out to bars/clubs. Not much of a drinker.

The Illini Programmer alter ego has been hacked, cracked and jacked. Resume clowning.

11/24/11

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