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is that amount post or pre tax?
pre tax :D
So, an Asset Management job in NYC is going to pay you $24,000 per year plus rent?
Does your gf plan on making money and contributing?
You're going to have to give details. I've never heard of a compensation arrangement of that sort.
You probably could pull that off, but I would definitely look into other opportunities. What is the maximum amount they would pay for housing?
Even with rent covered 2000 pretax isn't great. What are the other offer details? Is Health Insurance covered? You have to think about cost of other utilities if those aren't covered, relocation costs, furnishing your apartment etc.
This sounds like one of those prop shops where they call you a trader but it is very non-traditional as compared to most AM opportunities.
Depends on what "comfortable" is. However, by most standards, no. And I agree with DBCooper, this sounds very strange.
What is an entry level trader in AM? $2000 is hardly enough for one person let alone two.
If you have any loan payments it will be tight. otherwise you can definitely make it work. Asking this question here is difficult because the mindset many of the people have on here that IB FO is $70k so anything less is hard.
Reality is most advertising, marketing, public relations, some tech roles all pay somewhere in this range after paying rent.
If your rent is paid for as you claimed, then it will be ok.
The standard salary requirement for NYC apartment renting is that your pre-tax salary should be 40x your monthly rent, which assumes that your post-tax cash income goes to half rent and half non-rent expenses if you assume 40% tax rate (basic arithmetic). Having 2k/month post-rent would be like having 4k/month cash income pre-rent post-tax, which would be the same as 6667k/month pre-tax, which would be 80k/yr annualized base salary. Obviously nothing extravagant, but you'll survive just fine if you don't do anything too crazy too often. I wouldn't worry too much about it, assuming the housing they're paying for isn't next to a project or something. Also, it's of course true that one wouldn't necessarily spend 50% of their after-tax income on rent (could be less, could be more), but that's what's implicitly assumed in NYC rental requirements.
The rent being paid for and the quality of the housing are the key variables in this scenario.
r u sure this Asset Management and not prop trading?
i did it without having my rent paid for then i made it raaaaaaaaaain
Thanks guys for the answers !
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