I will be starting this summer as an associate in banking and am coming from a non-target and have never lived in the city. I have always had roommates in the past but was curious if most associates single and new to the city have roommates. Thanks in advance!
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Do whatever you want to do. Some will frown on it, but if you can find some chill bros to live with it makes economical and social sense. Many associates that I work with have roommates, you may be able to get a pretty sick place if you are both willing to pay a decent amount...
I'm in no position to judge but socially I think it depends on how close you are to your 30s for it to matter. If you are young or as you said this is your first job in NYC, I think it makes sense. It might be socially aberrational if you are 28, 29 or into your 30s and share a room. There are many people in their early 20s that do this. Besides as a summer associate in NYC, you'll get compensated nicely but its still expensive.
Just to clarify, I mean finding someone to split a 2 BR, or 2 people to split a 3 BR.
Get another bro'd out Associate roommate and proceed to slay NYC.
1st rule is not to care what everyone else does or thinks. While all your married with kids fellow associates look down upon you, you'll be banking massive cash and balling out.
I would say do it if you can. I know some people think it's crazy, but I don't mind having a roommate. Part of that is because I'm frugal and I hate the idea of paying for a place and never being there, because you're at work so much, plus you have to bear the cost of TV and Internet that you hardly ever use.
If I was to end up in NYC post b-school, I would consider a roommate situation for at least the first year (1) because I've never lived in NYC so wouldn't mind having someone with some knowledge and (2) cost. As was mentioned above, you can find nicer places with more room for the same or less money if you have a roommate or two.
I know my parents think I'm crazy now because I have a roommate, but between work and studying, I don't get home until around midnight during the week and tend to be out and about on the weekend...and my roommate travels fairly often for work...so, with the exception of the loud, moaning girl this past weekend, I hardly ever know he's home, lol.
So maybe the real key is to find either a sales guy that travels or a consultant. Half price rent with just a part time roommate.
Regards
unacceptable
I am an associate at a BB and have a roommate. Of the associates in my class and my friends from business school, I would say 50% live with their spouse/significant others, 40% have roommates and only 10% live alone. I personally have a roommate though I am single and under 30.
I have lived in NYC before and the economics stack up for having a roommate. Living alone is a luxury but you can't afford luxury when you are making 100K pre-stub and 125K post-stub. Ideally, you shouldn't bank on your bonus since that is highly variable and taxes at close to 50%. Besides, having a roommate is fun when you are working 90+ hours and can introduce you to different social circles. Lastly, you will be shut out of a lot of fancier places unless you are willing to pay $3,000+ for a 1BR or studio. Having a roommate can at least allow you to move into a nicer doorman building with cool amenities and in a great location, without breaking the bank.
It is so much more economically satisfying to have a roommate in NY. That being said, it is weird to be a late 20 guy with a roommate.
Thanks Everyone! This gives me a great perspective.
one question: how do you actually find a roommate? assume you move to NYC and have never lived there before. no one of your classmates is going there and you dont know anyone there. how do you find a roommate then?
thanks for any advice!
craigslist
thank you
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