What are your thoughts about making less than $70k/yr and living in expensive NYC, post college graduation? I am NOT talking about landing an investment banking job here - I'm talking about all other corporate jobs.
I know, NYC is the place to be - nightlife is amazing, women are amazing, the opportunities are endless - but let's be real here: How much do we really have to give up to be in a city where we can only enjoy 10% of what it has to offer? Especially when we can have a much better life in a less expensive city?
The reason I bring this up is because I have older friends who graduated from a target and who make about the same salary, but are experiencing completely different qualities of life. Friend A works as a business analyst for a marketing firm and makes $55k in NYC, lives with a roommate in midtown to share the rent, in a converted 1-BR appt into 2 BRs. He barely has enough money to splurge on friday nights, go see movies, and at the end of the year, has almost no savings at all. Friend B also makes ~$55k, but in metro DC also as a business analyst. He lives in Virginia in an awesome 19th floor apt - no roommate to share the bill. He drives his college car to work - 1 hour drive - still has money for gas, food, nightlife, dates, etc... None of them come from rich families. Friend A is pretty much being frugal every way possible. Friend B lives in an awesome rented condo.
So is NYC really worth it if you make under $70k?