How much of your take home pay goes to rent?
Will be moving out in a few months. Just wondering if there are any guidelines regarding what's an acceptable % of take home pay to use for rent/mortgage?
Trending Content
| +95 | Are you “less ambitious” for having long term goals outside of NYC | 24 | 15h | |
| +37 | Interviews Are So Fake | 24 | 14h | |
| +33 | 2024 UK Election - Tories finished? | 20 | 1d | |
| +29 | Being Christian in investment banking | 14 | 20h | |
| +26 | Is my boss gaslighting me? | 3 | 6d | |
| +25 | Non-Competes Banned | 17 | 9h | |
| +23 | Sabotaging Peers to Get Ahead? | 34 | 4d | |
| +22 | Ideas for things to do with a free semester before starting ft? | 9 | 1d | |
| How do I become Sigma | 12 | 8h | ||
| +18 | Best NYC neighborhood for single 30M | 12 | 2d |
Career Resources
too much...
For any location in besides NYC the typical rule of thumb is 1 weeks pay... so 25% of your net pay. On the more liberal end 1/3 of your gross would be the upper limit.
25%. Paying about 1500 a month.
Yeah, I think 1/3rd of your base is a solid figure. If you can do it for less, do so.
16% of monthly take home. And THAT's why you move to Chicago.
25% just for housing. 33% for housing + utilities + internet/tv
1/3 all-in tops, i.e. rent, utilities, services.
I don't know man. Either your making a ton as an analyst or living in a really cheap apartment. In Philly a decent place is going to run you 1200 bucks. Even if you figure NYC analyst wages (70k), you are looking at more than 25%.
How much you paying for rent in Chicago?
Street base salary. Me and my roommate each pay $600 per month. South Lincoln Park. Not the biggest place in the world, but big enough to host 8-10 people over for a party.
http://www.willowdaytonapartments.com/
2 bed / 1 bath, I should add
2 bed / 1 bath, I should add
Ohh ok, I thought you were renting by yourself. Yeah, I am paying $600 for my place, 2bdrm,/ 1 bath.
1/3 of your base pay is a common guideline that I've heard... If at all possible you want to keep it around 30%.
I'm starting to get a feeling someone doesn't like you. I think every thread that I see you post on, someone has actually thrown monkey shit at you. Either they hate your guts or they are playing hard to get...not sure which one, lol.
Regards
If you are at a BB starting then its 70k, which is like 45k after taxes. 33% of that 45k is about 15k which is 1250 a month. I know a lot of people who use this 1,300/month as a guideline for rent. Obviously less is better but I feel like its a good number to aim for, you can make it work with a 2bed room in certain areas of NY.
i pay 1950 for my share in NYC a month, utilities all included...
Ya and watch out CPH, when you defend him people start hurling monkey shit at you too. It's a conspiracy...
International Pymp who?!?! Never heard of the guy, lol.
Regards
I pay $1,200 for a Studio in NYC. UES.
Yaish.
11% of Pre-Tax base pay, utilities included. Miracles of Southeast.
I live in Chicago and pay slightly over 30%, sucks but i love where i live so it's worth it...
80%(inclusing bills)-----> before you rip my head off. I have no debt, not a models and bottles guy, really dont spend money on shit and intend to save/invest every dime of my bonus come summer.
This is for a large studio in Midtown west btw.
How much are you paying ?
That's not that bad...since you're already rich...haha. That's a crazy amount of money, hopefully you have time to enjoy it.
Regards
are y'all referring to paying 30% of take home salary (after tax) or before tax?
After tax, or take-home pay.
I pay $3k and some change. Net of tax its 80%. gross income is about 50%. this also includes all bills and gym and is on a really high floor with awesome views.
To all new monkeys, try looking for rent in new buildings. I was able to negotiate my way into 4 free months on a 14month lease and gym membership into rent. Don't let them fool you. New buildings are desperate for tenants
Im paying a really high % of my base but my package is loaded with performance incentives so its misleading. They are not guaranteed bonuses but basically if im not getting them then I am not doing my job and will be canned. That being said its still too high of a % of my base and puts extra pressure to meet certain milestones. My situation is a bit unique.
more or less 25%.
Is $1500 rent too much for an analyst starting out? (Originally Posted: 05/14/2007)
what range do most of you guys typically aim for?
ill be paying around 15
wouldnt go higher than that though.
15 is right in the middle....some people will be lower but a lot will be a notch higher
I'm gonna end up paying around $1,700 - $1,800
how do you afford that while taking home a little over $3k a month??
You dont eat as almost all food is paid for. You dont really pay for transportation, and your entertainment expenses are slim to none. What else are you actually buying? $1200 is plenty of disposable income.
dry cleaning, monthly metro card, lunch, utilities
Clearly you are still in college.
Are you out of your mind? In NYC? Maybe in some backwaters midwest town.
The first year is the toughest. Once you get your first year bonus, you will be OK.
yeah, I agree with this.
To look for a place, do most people go through brokers or do people mainly use sources like craigslist/ newspaper listings?
Get a few credit cards for your first year, use a bit of your bonus to pay off the 10 K you will rack up.
Watch and see this happen to you, it happens to most everyone.
Yeah, it's a bit of a kick in the balls.
I have absolutely no doubt that I will have more than 10k in CC bills. I just have to handle those bills when I get my bonus the following year. Rent is probably the only cost you can control because going out and drinking is impulsive and who the hell knows how much you're gonna spend on it per month.
I feel like people who are still at school overestimate their potential first-year analyst drinking/clubbing expenses. I probably do the same thing -- I'm thinking 150-300 per weekend. But at least two people I know at BBs say that the only thing they want to do on the weekend is sleep. :)
speaking of credit cards, is there any reason to get an Amex card or is the Visa/mc from your bank all you would need.
Generous rewards programs can make some credit cards worth getting. Best options right now are Barclaycard Arrival, Chase Sapphire Preferred and the Amex Premier Rewards Gold. They're all offering rather high sign-up bonuses (~40,000 points per) and carry pretty standard annual fees of $100 ($175 for Amex). Amex PRG is a charge card which means you cannot carry a balance. Points can be redeemed for all sorts of things but it's generally the best deal to use them for air travel at ~2 cents per mile. Lots to be said about this kind of stuff.
2 blocks from work. $2150/2 = 1075 per person. Midtown east side. proper two bedroom
$3.5 K brokerage fees tho :( still if u add 300 bucks to the monthly rate, its 2450 =1225 per person. not bad for midtown manhattan.
the bathroom sucks tho. no room to move your ass much. i guess i will just use the shower at my place, and use the office shitter.
How did you find a place in Midtown for 1075/person? I'll be interning in NYC this summer and I haven't been able to get responses to my craiglist inquiries. I hope I manage to get housing together before June.
im going back to the city tomorrow to sign the lease
ghosht, the place sounds like a wreck. What's the sq.ft ?
What do you do if you're not from around NYC (think West Coast) and what to search for an apartment in NYC? Would you suggest a broker in that case (since I don't think I'll be able to go all the way to New York to check out potential apartments before I start training in July)?
In general, do most people close on apartments after seeing them in person, or just see some pics, location etc. and then sign a lease and mail it back?
you need to do this in person (there are always exceptions though, but you will need someone to sign for you in that case)
most apartments come on the market the first week of the month, so if you want to look for july 1 move in dates then come out to NY the first week of june and meet with a broker. or if you want to cut it close come out the first week of july for a potential july 15 move in date...
Come in the last week of june and find a place. Do your research before hand, call the brokers and the property management companies. Check out www.nybits.com
Does anyone want to go apartment hunting with me for a luxury high-rise apartment. I begin training in july and work downtown but I don't mind living in midtown or downtown. I am looking to get a two or three bed and share it with similar roommates. Shoot me an email if interested.... [email protected]
just to answer the original post, I pay $1500 for my place in San Francisco.
Move to Houston, rent's cheap.
its a real nice place with 2 seperate rooms and a nice little living room. its good enough for 2 people, especially if u use ur apartment to crash and shower, considering it is like 2 blocks from my work place. i am over the moon about it.
two bankers actually rented it, but both got 3rd yrs, so moving on to bigger and better things.
Well, as long as you're happy with it, it's all good.
My girlfriend and I are renting a 1 bedroom in the Upper West Side for a total of $2300 / month. She is in fashion and won't be making much (think $30,000 / year) so I will probably have to take a larger share of the rent. Still, that leaves me around $1500 / month, and its a really nice newly-renovated place.
To those looking for a place: it is almost imperative to get a broker unless you already know someone in the city who can help you out. My buddy had his future roommate rent their place directly from the management company so they were able to dodge the $4000+ broker fee.
Its really tough writing such a huge check when you are signing for your place (I had to dish out $8000+) but just chalk it up to the cost of moving to the city.
Why not just sublet for the first few months and look for a place during training? Don't you avoid a broker's fee if you move in with someone else (as a roommate)?
As a follow-up to the previous comment, how hectic is training? Would you actually have the time to hunt for apartments, and then to buy stuff for your aptt?
It's pretty fuckin' hectic, don't try to get cute and wait until training. Do it the week before training and you should be good as long as you're flexible about your needs.
1500 seems to be the middle - low end of the range. If you can find roommates and you're willing to compromise on your place, you can find something cheaper. On the other hand, if you can find 3 roommates and all of you are willing to spend 1700 - 1800 a month, you can get a sweet pad.
In terms of disposable income .. $1500 rent means you'll have about $1850 a month ... you don't really pay for food .. 4 roommates means utilities are low (split 4 ways). Unless you're an alcoholic you should be pretty good there.
I just went through this and ended up finding a sweet pad in midtown .. pretty cheap actually .. a 15 min. walk to work means that I have virtually no transportation costs either. Had to use a broker though ... $10k brokers fee was a bitch .. but again split 4 ways it wasn't as bad as some of the fees I've heard about. Your check will be at least 1 months rent + 1 months security deposit + brokers fee (8 - 15% of annual rent)
If you're looking for July 1 leases .... start calling the brokers now.
keebler,
I'm kind of in the same position as you and believe me, you're gonna be living from paycheck to paycheck.
Assume you make $5,000/month, take off 40% just for taxes, that leaves you with $3,000.
Now you put in $1700 for rent plus say $150 for utilities. That leaves you with $1,250.
The firm won't pay for all your meals, you'll have to pay for breakfast and lunch, plus meals on weekends if you're not at the office. Say $400 you spend on food, that leaves you with $850.
So you're left with $850 for partying, clothes, laundry and other expenses. Unless you live like a hermit, you're gonna be as broke as me.
Who spends $400 a month on food? I mean, I'm a girl, so maybe that's why I'm shocked by that number. You shouldn't be eating that much, surely.
400 is not too much. Assuming 7 lunches and 7 breakfasts per week. Add an additional 1 dinner per week, whether it's weekend or an early weekday. At a $5 breakfast (cheap) and $12 per lunch (again, cheap) that's 140 for breakfast and 336 for lunch. Add in a dinner at $25 (again, very cheap) and that's 501. Aside from those items, there's going to be a certain amount of groceries that you will want in your home, essentials like bread, milk and alcohol. Food costs $$$$$$$$.
dude, what are you eating that costs 12 bucks for lunch and is considered "cheap"? can't imagine you spending 12 bucks at chipotle, subway, pizza etc.
the only thing i can agree with you is that your alcohol costs can add up real quick. if you aren't in one of the absolute sweatshop groups, you could be spending a good amount on alcohol, since you don't have the luxury of always pregaming.
fp175, you must be anorexic. I need my Protein powders and protein rich organic foods. $400 is on the low end in fact.
LOL
Is the tax rate really 40%? I thought it was closer to 25-30% for a first year analyst's tax bracket.
Assume that you get a 10k bonus which will net you $ 5600 after taxes. This amount should be your "cushion" assuming that you can fund the first and last month's rent plus broker fees from other sources (parent loans etc).
You will take home $ 3,300 per month less any employee deductions (health etc.)
Assume rental and utilities are are $ 2,000/mo. You are left with $ 1,300/mo to spend. You may have to factor student loans into the mix although some loans do not have to be paid back until six months after graduation.
When you file your taxes, you should get a refund in the $ 4,000 range since you were initially over-withheld. This will give you nearly a 10K cushion in April. When you receive your bonus after your first year of a conservative $40k you will net $23k.
This will end the problem.
The key is to survive the first year.
I'm assuming a worst case scenario, it depends on how many deductions you apply for.
I still think that's too much, and I grew up in the NYC area. Then again, I don't eat much. A $10 Chinese takeout lasts me two meals. A trip to Trader Joe's should show you that you can get frozen stir-fry mixes for like $4 that last two meals for when you are eating dinner at home. Why would you go out for dinner if you're always getting restaurant food when you work late at the office? I have lots of friends working in jobs that pay less in banking in Manhattan, and they manage just fine.
And I'm not anorexic, I'm a woman! Breakfast = a bowl of cereal and a yogurt, that's like $1.50/day. My biggest expense to be honest will be Starbucks and Diet Coke as I am addicted to caffeine.
I totally agree. 400 is a lot. I'm a big fan of Trader Joes. If you want to be totally cheap like me, I buy a 10-11 pack of chocolate chip cookies at Trader Joes for $3 - $4 and I have 2 cookies for breakfast during the week. It's cheap, satisfies my my sugar fix and it gets me till lunch time.
Right now I eat 6 meals a day, when I start working I plan to eat around 4. Even a fuckin' sub at Subway with a diet coke or whatever costs $8 or $9. If you eat at the healthier places like Pump then it gets even more expensive.
Always plan for the worst case scenario.
No Im paying around 18-1900.
Pardon me for the off-topic question...
How much taxes would a 1st yr analyst in NYC be expected to pay? Read from a few other threads that 44% seems the norm..but isn't that kinda exorbitant?
nyc city ny state federal
adds up quick.
Figure federal ~28%, state ~7% and city ~3.5%. Pretty close to 40%. And even if you don't pay during the year, you will have to pay out at tax time.
Cookies for breakfast ??? What the fuck !
It sounds bad but it's not. No worse than whatever pastries they sell for breakfast at Starbucks. 2 cookies = about 560 calories. I used to go with the "healthier" 1 minute instant oatmeal with fruit option in the morning which is also cheap but eating the oatmeal meant washing more dishes and the 130 calories is a bit on the low side. Also, canned tuna and eggs are pretty affordable high protein options that don't break the bank. You're going to have a pay a fat premium for organic anything though.
The key is ordering cheap stuff for dinner and adding in breakfast / drinks to your order, so that you have food / drinks for lunch and breakfast everyday. You can even split chinese / pizza orders into dinner and lunch the next day.
thats the best idea ive heard yet.
Not to be a tool, but I mean, you could always make yourself a fuckin' sandwich. Bringing lunch isn't the end of the world.
300 bucks a month on food is the max, otherwise you're just being absurd and eating out way too much.
Can someone explain why you wouldn't claim a lot of allowances on taxes? Is there some kind of monetary punishment for overclaiming? Otherwise it's just a free loan.
3k a month? you guys make 36k a year?
Just applied for a place for a little under$1600 a month. In-apartment gym is actually usable though, so I won't have to pay for a membership. I know I might be living paycheck to paycheck but we'll see.
How much is your rent? (Originally Posted: 09/14/2006)
From what I understand everyone who works in IB lives on manhatten, because you don't want to spend the time commuting. So I was wondering: How much your rent is? Are you living alone? With a roommate? With a SO? And how far away from work do you live?
2575, high-rise studio in financial district. I pay extra for very high ceilings and 180-degree views of the city (full corner apartment).
Work is a 20-minute walk or a $6 cab ride (with tip).
So what motivates you to spend that much, on a place which you pretty much use just for sleeping?
1500 each, lower upper east side, shared with fellow moneky
1500 square foot two bdrm. Pool in the back, few minutes to Rodeo drive and Santa Monica.
west coast is hot for renting. a place that rents for 2k/month in la area would cost 5 in nyc
are those prices for the top of the line, luxury building etc? Or just a generic "ghetto" building?
1800 murray hill with roomate
My $2575 is for a large studio in an almost-top-of-the-line building. You gotta make $120 in salary just to rent a studio in my building, but most people make much more. (My staffer lives in the same building.) There's a gym, sauna, valet, dry cleaning service, maid service, concierge, and doorman, all of which is standard for the price range.
I really don't need a place that nice -- hell, I'm never in it. But my fiance lives in it, and he likes it a lot. Also, it's very valuable for me to be that close to work.
And it IS nice to have a beautiful Manhattan apartment that I could invite people to (if I ever had the time to entertain them). It's large and bright and clean, with a massive blue oil painting, hardwood floors, a sleek black leather sofa, uber-plain black wooden furnishings, and steel halogen lighting, kind of Bauhaus but far more organic. I'm a little stunned every time I come home; it's like living in a home decorating magazine.
So yeah, it's expensive. Is it worth it? You'd have to ask the guy who actually lives there.
$1,600 for 1 Bedroom, parking, no A/C (it's close enough to beach). That's the cheapest I found for 1 bedroom in SM.
LA isn't that cheap. There aren't that many full-service apartment buildings on the west side, so you end up living in sort of funky places. Or, you can buy a condo in a full-service building, but you are going to pay over $1 million. There are a number of lower-level "half-service" apartment buildings which will set you back about $1,800 for a studio. Big lack of studios on the west side as well.
Are you guys fucking kidding me. I pay 1000 for my own room in a 2bd, for a really nice apt in brentwood, and consider that almost a waste. Most of my friends pay more like 800 for pretty nice places. Don't forget that it wasn't but a year or two ago that most of were slumming it in college apts with multiple roommates. Are you all so jaded and far removed that you need a all of these "luxury" apts at such a young age. I say blow you money else where or atleast save it, especially because your probably working so many hours to begin with and can't really enjoy the apt. I can understand NY being more expensive but blowing 2000+ grand in NY and 1500+ in LA is fucking retarded at our age, regardless of how much money one is making.
I live in a tiny, no-amenities studio in the center of the universe for 2200/month & it's worth every penny. Certainly not a problem after bonuses. Living near a good subway stop is key, depending on where you work (basically either downtown or midtown).
Murray Hill? Gross. You might as well live in Queens.
Murray hill is one of New York's most desirable neighborhoods, you obviously don't know shit about NY real estate.
Ke18sb, not everyone is young and fresh from college as you seem to expect. Also, you're speaking pretty harshly to those who are just responding to a question. Why are you so angry as to call people "fucking retarded"? I hardly think my choice in apartments is hurting you personally.
Anyway, I'm twenty-five. I've had my own apartment for three years and have never in my life "slummed it" with a roommate, since I had a single in college. I'm engaged. There's no way I can live my private life with my fiance in a two- or three-bedroom with a bunch of other people. We're a couple and we need our own space. Hell, we're beginning our marriage during my first two years of banking. You can imagine how hard it is to keep our relationship strong already, without throwing roommates into the mix.
At my age, which is relatively old for being a first year banking analyst, I feel that I'm too old for slumming, for the fresh-out-of-college lifestyle. I can't live in a crash pad. I also worked really frigging hard to get to where I am, and I don't want to be rewarded with a dismal apartment when I come home. I need my space and light, and a nice view to look at while I'm getting dressed in the morning. (I can see the Statue of Liberty from my bed.)
So no, KE18SB, I'm not fucking kidding you. That's the choice I made.
@Mis Ind you are killing it. Congrats on your engagement. Don't feel old, you're doing better than fine. I'm 20 and I consider people young until they are passed 32
Damn straight girl!
Here's to women in the industry!
We're a bit more refined than the boys in the first place...
not sure how she posted...thought i disabled anonymous posts...
Hey, another girl? Welcome.
Appears to only be on that one topic, BananaMan.
I've never been one to judge people on how they spend their hard earned cash. But personally, I tend to agree that having the nicest apartment/amenities that you can afford is acceptable primarily due to the massive hit you take to your standard in living from being in IB. If your life sucks at work, those precious few moments you have afterwards should be quality ones.
It's alot more affordable.
If you're not willing to have a roommate and still want to have a nice place, you may have your reasons. More oftentimes than not analysts are borrowing money from their parents to afford a decent place then paying them back come bonus time..NYC is just that expensive.
I can see where Mis Ind is coming from. I currently live in a 1BR doorman / elevatro building in midtown (5 min walk to work) -- not a super luxury building but definitely nice. i did the roommate thing when i got out of college and it definitely is worth teh extra $$ to have your owm place. plus, i have a girlfriend now and once i move in with her I could see us spending approx. $3k a month on rent. We both work in finance and make decent money -- why live in a shithole? yes, saving an extra couple hundred bucks a month in the long run means i'd maybe be ablet to retire with another $300k in the bank (w compound interest), BUT I'm going to have plenty of money saved up anyways, so why save it all? I'm older and don't want to slum it anymore either -- why I pay $1900/month on my own (and that's considered a steal for a 1BR doorman elevator building in manhattan)
Yeah, but my fiance spends a lot of time in that apartment, and it should also be nice for him.
It also does make a huge difference in my quality of life. I go to the gym in my building before I shower and change in the mornings. I'm close enough to walk to work. And when I'm done with work at midnight or 2 AM or 4 AM, I don't feel the need to go out to a bar to enjoy myself... I can go home and relax in peaceful, beautiful surroundings, put on my robe, lay back on my nice sofa, and ask my boy to put on some music and make me a drink.
If I went home to cram-packed subsistence living, with old dry-cleaning bags in the corners and roommates' dishes in the sink (which I've seen at the homes of my friends), this whole gig wouldn't be worth it. Sure, these kids I know save a lot of money, which they use to go and buy bottle service at Marquee. But they go home and sleep off the drunk on a mattress on the floor, and when they wake up life isn't much better, according to them.
For the record i didn't call any one retarded, i mearly said the act of spending that much money was. Furthermore, i'm not angry, just simply amazed at how "new money" some young bankers act. Sorry if i came off abrassive, to each his own.
I wouldn't say I'm any kind of "money", old or new. Certainly, I have next to nothing (was raised by a single mother on $18k/year), so I would be absurd to try to encroach on the respective territories of the nouveau et vielle riche. I'm sorry that my lack of refinement amazes you or comes off as "fucking retarded", but I'm just making the choices that will make me happiest, and that means a clean, bright, lovely space to spend my slim margin of spare time in. And come on, it can't be showy if I don't show it to anyone, right? Surely the little pleasures one indulges in privately can't be considered all THAT nouveau-riche, since nobody knows about them and nouveau-riche is supposedly all about conspicuous consumption.
See above: to each his own
I'm glad your enjoying yourself in the end thats all that matters
$3500, but I'm moving out next year. As ke18sb eloquently put it, to each his own.
to those who get all the bonuses etc.
How much do you get per paycheck after taxes? and how much is the bonus(what % do they take out) after taxes?
I was told taxes really rape you on bonuses
Your taxes don't change on a bonus versus regular pay any more than to the extent your marginal tax rate increases as you earn more money. However, your witholding is typically at the highest state rate and highest or second-highest federal rate.
Spending a lot of an apartment isn't "new money". In fact, I would say just the opposite. I have happened into a very nice living situation for relatively cheap at $1,250 per month, but I would pay much more in order to have a quite, clean, safe place that is close to work and has some ammenities. I have lived in other situations and my work product has suffered.
In my view, spending a lot on a car, clothes and other disposable pleasures is more "new money"
$700 for the big room in a 4BR apartment just north of central park on the 2/3 express train. We have a nice living room and kitchen in a recently renovated building, with an elevator and laundry downstairs. Yeah, it's technically harlem, but is a pretty nice neighborhood and doesn't feel at all like neighborhoods north of here - plus i have the park to go running in, right there. I get to work, across the street from south ferry, in about 35 mins door to door.
I'd rather pay less and save a whole lot more given how little i'm in the apartment. This way when I go out I have money to burn, and i'm still saving a ton of money. I just don't see the point to paying twice this much for a bigger place farther downtown and still never seeing it.
1 bd in a 3b/2.5 ba apt in the Marina district in San Francisco. Just remodelled and serves as a sick bachelors pad...
Mine was $1,650 for a studio....not bad but you are never home...rent in general seems like a waste....i wonder if I can sleep at my desk like Costanza
literally next to wtc, by far the cheapest i could find
Mis Ind,
Vous parlez aussi francais! Vous etes simplement ettonante! Je crois que votre fiance a eu de la chance.
Croirez-moi, vous n'etes pas agee (j'ai deux ans de plus que vous).
I need an apt for January 2007 any suggestions?
Tu parle fran
for a nice 1300 sqft house in notting hill, with a roof terrace :)
Salut, IBA; merci vraiment. Oui, je parle un peu. Alvar, je crois il etait "nouveau ou vieux riche".
I have an inherited place in Midtown right by the UN building. A few of the people who are on the Oasis have seen it and agree its a nice place. It needs a ton of work and I'm lazy as shit. Although with the UN in session there is a much higher level of security these days. Tax is about $1000 a month, then cable, electric, maid service, escort service, etc.
I got it, I had completely missed that part of your post... :)
normally I'd flame you for bumping a 10yo thread, but it's interesting to see what rents were like back then. I've never lived in LA or NYC, so I'd be curious what it's like now. I'm thinking it's probably pretty similar, if not worse.
2600 for 3br in a borough.
I paid $3000/mo for a small furnished bad in East Village. Discounted to $2500 for injecting a diabetic cat twice a day. Cat died
How much to pay for rent? (Originally Posted: 02/21/2008)
i am just starting to look for apartments in the city, and a lot of what i've seen is in the 3-4K per-person range. i think that's excessive and i am looking in the wrong places.
what's the 'sweet-spot' or 'median' rent for a decent place (one-bedroom, or a 3/4 bedroom split amongst people, whatever) in midtown, 40s to 50s?
furnished look to pay between 2,000 and 2,800 in midtown. I would advise looking in the financial district or the east village where a lot of college students are moving out for the summer.
After accepting my offer I did a little research and found that first years usually can find a place for $1500/month give or take a few hundred. 3-4k sounds really high, are you coming in at a higher level? Did you find these online?
Also, what do you think would be the best way to go about finding roommates?
How much should I budget for rent? (Originally Posted: 06/05/2012)
About to start as a 1st year analyst and am trying to figure out what is a reasonable amount to pay monthly.
Any input? What did you guys pay?
1/4 monthly salary is the standard recommendation
what city / are you willing to have roommates
I will be in London (which seems to be a bit more pricey than NYC). And yes, Im thinking 2 other roommates...
Are you prissy (you need a doorman and glitz glamour) or are you willing to compromise your rep by living a bit further away from the office to save a few $$ each month.
I'd say try for between 15%-20% on rent because you have to factor in food/utilities/ and transportation cost. Which can add up.
Did you budget with a bonus in mind? Because hoping to pay 20% of a post-tax salary on rent is pretty difficult in London. I would have to live quite far out from my office...
Anyone care to say what they paid?
Analysts: How much is your rent & where (Originally Posted: 12/08/2006)
$2000, 2 bedroom, 2 bath, 2 people. Upper east side in a new condo. $1500, 1 bedrom (converted to 2 rooms), 2 people, 1 bath, Financial District
Hank- Why the 2 examples? Are you debating between them?
Anyway, I live in what is officially a 1-br, converted into a 3-br (2 fake walls). 1.5 baths, East 50's. Slightly over $3800/mo, split ~$1370, $1270, $1170 based on the differences in room quality.
Love the neighborhood, but would like to move to a bigger place when the lease comes up in July.
yeah..trying to figure out if its worth the extra cost for a much nicer place closer to work. 2k a month for an analyst seems high..most of my friends pay less than 1700
is that 2000 per person?
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
Wait...$2,000 per person? That is extremely high, and a 1st year's cash flow won't be able to support it.
yeah, per person, with utilities.
No doubt it's a nice place. Good luck with it...
East 78th
$1950 per month + cable/internet (divided by 2)
aren't there plenty of 2 bedroom places throughout the city for only 2,300-2,600 total (1,150-1,300 a person). Thats the idea I got looking for places on many different websites. I'm not looking for the nicest place, but not a shithole either.
Are these prices accurate or do the realtor websites lie?
What happens when you got offered for say, Chicago (or anywhere outside NYC for that matter) and like for most BBs training is in New York? Does the firm put you up in a hotel for 3 months?
Just asking. Oh and $2600 for a decent 2bed seems kind of low. Although I'm quite used to seeing 2bedrooms at like Trump Park or something go for $8k. Ouch.
Yes, and it's a blast. Not 3 months, though.
Is this for douches?
Also, I'm looking for something downtown near the 45 or walking district from the financial district. If you've looked there, what are the prices and do you recommend any properties?
I live by ground zero in a doorman building and pay $2500/month for a 1 bedroom. I have friends at 2 Gold and last I heard 1 BR's start at around $2700.
how do you afford that on an analyst salary
Is it possible to find something for about $ 1700-2100, single bedroom, within a reasonable commute from Wall St
Corporis perspiciatis assumenda ea molestiae. Atque minus accusamus quod. Laudantium temporibus rerum ullam aspernatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Officia eos consequatur molestiae laudantium exercitationem. Maiores ex dolorem sed optio tempore. Veritatis illo sunt quos animi. Quibusdam esse neque consequatur animi a consequuntur quia velit. Iure aliquam est ex sit. Optio exercitationem necessitatibus qui. Et dolorem porro minima et adipisci dolorum eum.
Cumque sit aperiam ducimus veritatis veniam praesentium. Exercitationem laborum doloremque vel ratione autem. Porro molestiae soluta maiores vero nostrum doloremque laudantium. Corrupti qui rerum nam fugit voluptatem incidunt.
Porro temporibus quia sit. Non et at aut omnis voluptas rerum. Libero cumque officiis at. Ut explicabo officiis modi et qui.
Dolor in aut consectetur optio veritatis. Qui rerum sunt laborum voluptates odit non. Debitis consequatur consequatur facilis voluptas nobis est. Sit natus quis molestiae facere voluptatem ab sequi. Aut nulla animi sed maiores corrupti.
Non officiis et blanditiis id. Molestiae quidem voluptates et ipsum delectus eos. Quae et quam voluptatum voluptates. Rerum blanditiis et omnis dolore mollitia pariatur ea.
Qui omnis pariatur voluptas et nemo officia. Consectetur sunt quo quis non dolor sit voluptatem. Omnis nihil reiciendis et esse. Quibusdam fuga corrupti quod veniam.
Et alias recusandae vel exercitationem vero quam eum. Exercitationem voluptas modi occaecati voluptatem voluptatem. Deleniti qui non officia qui vel et. Unde in nam corporis. Vel consequatur quo vero quia nisi aut.
Nostrum incidunt aut ut ducimus sit quia ut. Laborum quia iusto hic hic enim harum blanditiis. Nemo est praesentium blanditiis omnis.
Minima voluptatem molestias illum eligendi magnam perferendis repudiandae. Voluptatum in nisi est rem est similique eos vero. Quae minus et tempore similique corrupti. Et et quibusdam rem ab. Harum odio aut quo. Officiis quam sunt consequuntur tenetur ullam tempore ut.
Ullam possimus sed numquam beatae consectetur earum sequi. Placeat nihil distinctio eveniet. Harum officiis excepturi ea ullam enim accusamus tempore.
Aut rem quas quia. Ex aut temporibus voluptatem esse rerum dolorem error voluptas. Quis ad aspernatur assumenda cupiditate aliquid sint. Maiores at expedita repellat culpa nisi magni. Sapiente id in deleniti velit alias. Veniam recusandae voluptatem culpa corrupti qui minus.
Totam eos quis qui vel. Voluptatem est eum nesciunt ad quos et incidunt. Consequatur alias consequatur qui ex. Maiores totam itaque non dolores voluptatem inventore.
Dolore animi id odit. Alias reprehenderit aspernatur odio dignissimos consequatur ducimus. Autem in voluptatem dolores quasi rem optio asperiores.
Deleniti odit sit explicabo sunt a. Aliquid sequi eveniet impedit voluptatem.
Sint modi consequatur dolores aliquid quasi sint eaque. Ut laudantium harum consequatur reiciendis quo et officiis. Praesentium rerum doloremque sunt mollitia laborum aut inventore. Laudantium unde omnis magni ipsa eos eius. Necessitatibus voluptatem omnis consequuntur enim est repudiandae.
Expedita velit officia vitae quas et blanditiis aut. Et accusantium expedita quia magnam alias. Est similique et inventore dolorum ut ipsam. Et voluptatem eos eligendi velit nam suscipit. Non rerum et alias sed eaque. Iusto hic optio itaque dolorum est itaque.
Quo tempora laudantium ut molestiae quod doloremque delectus. Nihil dolorem aliquam deserunt non facere non. Distinctio eos velit excepturi sed sunt aut eius.
Est quod voluptatem velit voluptatum consequatur itaque laborum. Deserunt praesentium assumenda molestiae dolor ad eum accusantium. Voluptatem consequatur voluptatem voluptas amet quibusdam inventore veritatis non.
Voluptatem quos tenetur incidunt porro est. Sapiente architecto perspiciatis eos recusandae commodi. Error porro esse voluptatem deleniti placeat aut eos. Eius a non illum possimus eos facere iste. Non perspiciatis eum vel ut vel.
Nesciunt nisi et commodi consectetur accusantium dignissimos accusantium fuga. Error placeat in sapiente ipsam. Qui cumque et repudiandae praesentium exercitationem commodi minus assumenda. Molestiae recusandae vel natus.
Natus ullam id dicta quod et numquam aut. Necessitatibus aut eius sequi harum. Quis qui facilis omnis vel impedit corrupti rerum.
Suscipit et mollitia maxime laborum dolores quasi. Corporis aut consequuntur ullam pariatur et consectetur eum earum. Odio at blanditiis tenetur. Sint maiores laboriosam sunt. Et maxime quis commodi. Eveniet facilis est quo.
Nisi mollitia laboriosam sed. Dignissimos aut et et molestias inventore. Eos quo vel ut quae at. Quidem labore consequuntur voluptas sed beatae nobis. Dolorum reiciendis quis omnis velit quis.