NYC or Chicago?
I'm an SA in NYC who is trying to figure out where her focus should be in applying for positions at firms in Chicago or New York. I've looked for apartments in NY (2700/mo. 400-500 sq. ft pieces of trash in one of the most powerful financial capitals of the world) as well as places in Chicago (1600/mo. for gorgeous 700-900 sq. ft. dream flats in a place with limited opportunity to ascend). I don't know if I'll be able to even afford NY my first year (65K base, 10K signing, 10-15K relocation)...
So guys, where should I go? Forget about the restaurants or the clubs (I'm a fantastic cook and I'll be too exhausted from working to hit the clubs every night), and put city culture aside for a minute. If you're suggesting NY, how should I go about looking for affordable places that are still in safe, nice neighborhoods and close to Manhattan? Any neighborhoods to suggest? If you're suggesting Chicago, how can I make the best of where I am and stil acheive my goals of reaching the top if I'm starting at a regional office? Does that even matter?
Thanks.
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wait for the anti-NYC
wait for the anti-NYC trollers to come.
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So what do you do?
-I work for an investment banking firm.
Oh okay; you are like my brother, he works for Edward Jones.
-No, a college degree is required in my profession
A thought
It isn't like their aren't rainmakers in Chicago and somehow you are going to be marginalized in a crap "regional office". The point is go wherever you feel fits you best and wants you, don't get caught up the nonsense of which office is best.
People like Corzine, Dougan
People like Corzine, Dougan and Paulson made it to the very top from Chicago offices, I believe.
building on your thought
People like Corzine, Dougan and Paulson made it to the very top from Chicago offices, I believe.
I know Paulson did for sure, and obviously Ken Griffin hasn't had a problem being based out of Chicago
Jesus... what a stupid
Jesus... what a stupid thread. Yes, Ken Griffin hasn't had a problem - you too can start your own mega-fund!
To the OP, in NYC, every single banking analyst lives in a roach-infested hovel. They scrounge on the street for quarters to pay the electricity bill
Get A Roommate
Nuf Said
relax
Jesus... what a stupid thread. Yes, Ken Griffin hasn't had a problem - you too can start your own mega-fund!
To the OP, in NYC, every single banking analyst lives in a roach-infested hovel. They scrounge on the street for quarters to pay the electricity bill
Don't be a douche, everyone knows it is difficult to start a huge fund the point is Chicago won't hold you back.
I lived in both cities - New
I lived in both cities - New York is definitely a more fun, energetic place to be. But Chicago is nearly just as fun (granted finance isn't as big, and neither are the exit opps), but it's a lot cheaper.
I'd say ultimately it is in your best interest to be in one of the top groups in your bank, and if one of them is located in Chicago, then it's a no brainer.
I'm from Chicago (and live
I'm from Chicago (and live in New York) and can tell you that your cost figures are skewed - shoot for around $1500 per person in New York ($1500-2000 if you live alone). You'll be able easily to afford New York on your salary; cost shouldn't even be a consideration. I'm talking Manhattan, Upper East Side (for instance) or elsewhere.
In terms of the banking itself, a senior banker friend of mine in Chicago has expressed some regret at not starting his career in New York. Unless you work at William Blair in Chicago (does Baird have offices there too?), it seems you'll be working in a satellite office, whatever problems are associated with that.
I do agree with you that your place would be nicer in Chicago; I have several friends there working menial jobs (think waitress) who live in relative palaces. That said, I'm quite happy with my place here in New York. If you want more detailed financial/neighborhood information, PM me.
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http://ibankinglife.blogspot.com
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Jesus... what a stupid thread. Yes, Ken Griffin hasn't had a problem - you too can start your own mega-fund!
To the OP, in NYC, every single banking analyst lives in a roach-infested hovel. They scrounge on the street for quarters to pay the electricity bill
Don't be a douche, everyone knows it is difficult to start a huge fund the point is Chicago won't hold you back.
What the hell does starting a hedge fund have to do with working at a regional office of an investment bank?
my thought
Jesus... what a stupid thread. Yes, Ken Griffin hasn't had a problem - you too can start your own mega-fund!
To the OP, in NYC, every single banking analyst lives in a roach-infested hovel. They scrounge on the street for quarters to pay the electricity bill
Don't be a douche, everyone knows it is difficult to start a huge fund the point is Chicago won't hold you back.
What the hell does starting a hedge fund have to do with working at a regional office of an investment bank?
The point is if he is a stud he won't go unnoticed no matter where he is at.
.
Jesus... what a stupid thread. Yes, Ken Griffin hasn't had a problem - you too can start your own mega-fund!
To the OP, in NYC, every single banking analyst lives in a roach-infested hovel. They scrounge on the street for quarters to pay the electricity bill
Don't be a douche, everyone knows it is difficult to start a huge fund the point is Chicago won't hold you back.
What the hell does starting a hedge fund have to do with working at a regional office of an investment bank?
The point is if he is a stud he won't go unnoticed no matter where he is at.
Isn't the OP a she?
Also, Ken Griffin is a serious outlier, as are the others mentioned. I believe that's ideating's main point...
You should be able to find a
You should be able to find a place for a lot less. Upper East Side was pretty decent.
I have 2 relatives that lived there a year ago - I think their rent was 1700-1900/mo. The place was def not fancy - but had a master bedroom and den. Was on 5th floor of a small building. Good access to train ( I think the station was lexington & something). Safety was fine too - rode the train and walked home past midnight with no probs.
Their place was pretty hot in the summer though, and could have used a coat of paint or cleaning (may have been my relatives doing).