How hard is it to just get by in NYC on a 1st year Analyst salary?

too many variables and this has been discussed before.

if you put 15% into 401k, you will clear about $1500 every 2 weeks. one of those checks will go to rent. the other will be for you to live on. good luck.

try to control your fixed costs, that's the biggest thing...my living expenses each year are relatively static i'd say.

very

Whats the hours like for a controller analyst?

your base is 60k, well more than enough to cover living costs and partying plus some left over. (you won't be spending your own money for most of your dinners).

when bonus rolls in, just save it all

He is in controllers. He will be paying for his dinners. "Well more" simply gives poor expectations. I honestly can't imagine saving money if you go out and have friends on 60k if you live in Manhattan.

Note: I've been here about 4 or 5 years now.

Also, I'm not talking about bottle service or spending every Saturday night at Pink Elephant either.

I watched some games at Tonic this weekend: a $90 tab that included 2 appetizers, 4 bombay gimlets, black on the rocks, and about 3 beers (the gimlets were for a friend). This is a regular, DAYTIME weekend thing... and already you're 1/8 of your monthly restaurants/bar money that I allocated.

"Saturday night at Pink Elephant either"

i went there once, what a silly place. the sparklers they shoot off with the bottles of champagne are amusing.

Place sucks. Overpriced, rude, and bad vibe (unless you have bottle service, which the place is designed for). Hot girls though.

Yeah seriously, I call it the "how to make 90k and barely be able to scrape by in New York" game.

Well if you're out by 8PM most nights can't you live in Brooklyn and save some money on rent, or god forbid, New Jersey?

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

I have said it before: check out Williamsburg and Long Island City if you work in Midtown.

"Place sucks. Overpriced, rude, and bad vibe (unless you have bottle service, which the place is designed for). Hot girls though."

had bottle service, still sucked. no way would i pay for it myself.

I would like to know where you could find a decent/liveable place in Manhattan for $1200/month. Maybe.. Maybe you can do that if you live with 3 other roommates in a conversion. Maybe. Plus when you factor in the broker fee, it's definitely going to be more than $1200/month. I'd say $1700/month is far more reasonable. Every person I know in NYC that makes $60k/yr. is scraping by while living in Jersey or with at least 3 other roommates... and they are just making ends meet (although they do go out a lot).

Good luck with your search though.

I am paying $1,950 for a studio on the West 60s (rather far from my workplace). Am I being ripped off?

I heard from someone else on the board a tip to save broker's fee - take a weekend or a couple days in the city and walk around the areas you are considering, asking at the doorman buildings to talk to the management company. That can get you directly to the rental without a broker's fee. Can anyone confirm this is a viable strategy?

see below.

1,950 for a studio is probably market.

Buck2210, make some friends. While non-NYC connected people might be fucked, it isn't hard to meet someone who knows someone who needs a roommate in a rent controlled place. I don't know anyone paying $1700 a month the first year. Luxury buildings can be converted to a $1500 a month. Dig hard, you'll find something.

I pay $600 dollars for a huge room in a rent controlled place. Closest boy pays $1300 for a studio on 20/3. Another friend pays $700 for a room a few blocks up. Everyone acts like Manhattan is inept of good deals, but the bottom line is you guys probably act too entitled to search for them. And fine -- add a broker's fee, but it should be dealt with your signing bonus.

my base of 55k is just rude isn't it...

Every analyst I personally know (there are plenty) in a revenue-producing group pays $1500-1700 in rent and more-or-less lives paycheck to paycheck. I am in that situation and yes, it is pretty tough. We are all waiting for July to roll around (bonuses). EVERYTHING in NYC is expensive, not just the rent. You find ways to save money here and there, because you have to.

Most first years (and a lot of 2nd-3rd years) I know in operations live out in Jersey or BK. Don't know what controller bonuses are like, but it is easier to justify spending every penny for one year when you are expecting a nice chunk come bonus season that you can put in the bank.

I have one friend who pays $1200 for a one bedroom in a great location with his girlfriend. That is beacuase his girfriend's family friend has been in the place for 30 yrs (rent controlled) and she is letting them live there for a year. Do not expect to find anything in Manhattan for less than $1000 - and at that price range, expect a really small room in either a shitty appt or somewhere way uptown with 2-3 roomates. Some may find deals, and good for them, but that is by far the exception.

All that being said, you will have more than enough $ to go out and have fun. Just don't expect the bottle service and designer wardrobe you hear the college kids on this board talking about.

"All that being said, you will have more than enough $ to go out and have fun. Just don't expect the bottle service and designer wardrobe you hear the college kids on this board talking about."

a very good point. but that being said, depending on your priorities, you can live it pretty high from say 3rd year analyst and on.

Actually, at $60k, you're in the $4386.25+25% of whatever over 31850 bracket until your income hits $77k.

http://www.irs.gov/formspubs/article/0,,id=164272,00.html

this is the 07 schedule from the IRS so it might change.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

But my first year I got a 60k+7.5k signon and after a bonus I figure I will be at 77k which puts me into the higher bracket.

THere has been some great posts on this thread. Thank you everyone. I'm not really expecting to be wearing designer labels. However, I would like to live on the island so I can have that first year NYC experience.

I was in a fraternity in College so as you can imagine I have done my fair share of drinking. I'm kinda over it really. I will maybe go out to the bars 1 time a week but I dont plan on dropping alot of money on that stuff. I'm a beer drinker also so that makes it cheaper.

Snowglida- your right I have no idea what my bonus will be like.

What are rent controlled areas? How do you find them?

Anyone have experience or incite on Long Island City, Queens Astoria? I'm looking into living in those places also.

"I was in a fraternity in College so as you can imagine I have done my fair share of drinking. I'm kinda over it really. "

No, you aren't. You haven't done Manhattan yet, it is a whole new ballgame. Especially for fratty types.

Rent controlled "areas" do not exist -- some units are rent controlled, some are not. The best way to find them is via word of mouth, but some brokers have them, though the fee may make them not worth it if they are only for a year or so...

Long Island City can be great. A lot of it is sketchy, but it is a stop away from Midtown and the waterfront is undergoing a huge transformation (like Avalon Riverview and Avalon Riverview North...google them).

Astoria is a regular Queens neighborhood -- if you can handle it, go for it. LIC is more urban...

not to mention WesWes unless uve been to some NYC lounges you havent gotten sucked into how awesome they are and how hot the girls are. both can cause a man's discipline to wane.

Being a beer drinker in Manhattan can still you run you $14 bucks a beer depending on location. Like Krakauer said, until you've experienced it, I guaranteee you won't be over it. You've never seen a social drinking scene like Manhattan's happy hour scene.

Where in NYC is a beer $14???

Shit in Ft. Worth TX i can get a beer for 2 bucks sometimes even a dollar fidity! IDK about the hot girls up there, there are some hot girls in the Dallas TX area.

Im sure yall are right though. Manhattan is going to be fratty as hell. Everyone going out all the time, trying to impress ladys with their ivy league degrees and fat bonuses. Sounds like a party. I'm not saying I wont be down for it. I just hope that I have got most of my drinking days behind me because Tabs can add up really really quick.

Have any of you ever roomed with someone in your analyst class? I know no one up there since Im from FTW TX, non target private school.. Might have to find a random roommate off craigslist - That seems so sketchy though.

So Queens Astoria isnt anything to rave about? Long Island City seems pretty legit.

there are VERY VERY VERY few places with 14 dollar beers. ive never even been to a single one. even high end venues a la nikki beach, 49 grove, PM, pink elephant have beers for around $9. $14 drinks yea, but not beer.

and u can always go get recked at the blarney stone with 4 dollar heinekens and then hit one of the high end lounges.

actually, depending on how many your crew is, bottle service can make a lot of sense i think. last time i was in vegas, we did the vip/bottle thing, and it came to like 200 bux a head for 13 of us, which was really cheap.

but nyc is pricier, i think that night at pink elephant cost 5-8k or so for the 10 of us.

see thats fiscally irresponsible man, why did u buy more than 5 bottles, i mean come on.

500-800 a head? nonsense, unnecessary, esp. if you wanna get chicks.

you could put a down payment on a mystery method bootcamp or something.

I have been to most expensive places, and never paid anything above $8/$9 for a beer. Black label is $8/$9 at most places, $12-$15 at nicer places. Of course, liquor deviates much more than beer.

Clearly Jimbo's night at Pink Elephant wasn't typical (I'd hope), let him celebrate. No way half a bottle would be enough if I'm going all out.

..

I don't know. But I am telling you AFTER CITY, STATE, AND FEDERAL, my SA income of 60k (2400 weekly) turned out to be about 1700 bi-weekly.

so it's slightly above 30% total

"If you go out with no abandon, yeah you can spend a shitload of money but if you have even a LITTLE prudence, you can get away with spending $100-$150 a night (including dinner) and still having a great time. And please don't try the "oh you don't ball out, don't know what you are talking about", consultants may not be traders but there are still some sick expense accounts to be spent."

not sure if that last part is directed at me or not, but the club/lounge thing is not my scene.

hell, the best venue for meeting girls is house parties...you can host one for a few hundred, or spend $50-100 to help your buddies by liquor for those. that's my normal move.

house parties in nyc? i thought that was an LA thing - unless your talking about long island or something

does manhattan have good looking girls??

I live about an hour away from the city right now and thinking if I should move to LIC/Jersey/Brooklyn or just stay home for my first year or two...

anyone been through this? is it worth it being close to nyc and the experience or no?

NYC is dirty, expensive and loud. Peope are obnoxious. Girls are hot. There is nowhere in the world better to live as a young man. NOWHERE.

NYC is dirty, expensive and loud. Peope are obnoxious. Girls are hot. There is nowhere in the world better to live as a young man. NOWHERE.

yinyanyon:

does manhattan have good looking girls??.

yes but Southern women are still the best

waltersobchek:

house parties in nyc? i thought that was an LA thing - unless your talking about long island or something.

House parties are very common. If you live with 2-3 people you can find a pretty decent sized place, throw some parties, and not pay a stupid amount. It all depends on what you want.

yinyanyon:

does manhattan have good looking girls??.

yes but Southern women are still the best

waltersobchek:

house parties in nyc? i thought that was an LA thing - unless your talking about long island or something.

House parties are very common. If you live with 2-3 people you can find a pretty decent sized place, throw some parties, and not pay a stupid amount. It all depends on what you want.