Commute 45 Minutes or Pay Rent?
For those working full-time at MBB, how realistic is a 45-minute commute each way if it means living with family and paying essentially nothing for rent, groceries, or other living expenses?
Assuming the commute is manageable most days, how do people typically handle especially busy periods (late-night deliverables, multiple consecutive long days, etc.)? Do you just make the drive regardless, occasionally book a hotel near the office, or is there another approach that people tend to take?
I'm trying to weigh the tradeoff between a longer commute and potentially saving tens of thousands of dollars during my first couple of years. Has anyone here been in a similar situation, and would you recommend it?
Having experienced a similar situation after graduating college and working in consulting (and still maintaining a similar commute), I commuted over an hour each way from my parents' house, made it work. Certainly challenging during late nights, what helped me get through it were two things. First, teams are often flexible, I'd be able to relocate at 6/7pm to finish from home, or work remotely some days. Secondly, I traveled a fair amount which negated the commute entirely.
One thing I'll say is that many people commute 30-60 minutes, I'd say it's the norm even. I think the value of staying home my first few years out of college and paying off my student loans far outweighed the benefit of living alone. But at the end of the day, this is a personal finance decision, if you value the free time more than the savings then that's great too, there's no wrong answer
Yes, that's what I think is best. My biggest concern is missing out on mentorship, learning, and relationship-building by spending less time in the office or working hybrid. Did you ever have that concern early in your consulting career, or did you find it wasn't as big of a factor as you expected?
It was 100% a concern for me, and there's truth to the drawbacks of a long commute. I definitely missed out on happy hours and relationship-building. I did meet a great mentor who helped me find my next opportunity, but who knows if I would have received even better mentorship if I’d been around more. I made it to ~75% of happy hours but always left early to catch the train. Since I wasn’t at the office, I wasn't invited to every spontaneous hangout, so I didn't develop deep relationships with all my peers, only a select few I really valued.
However, I found that at the end of the day, performance is what actually matters. I showed up and performed at the top of my class; my bonus and relationships with MDs/Partners reflected that. Leaders wanted me on their engagements and proposals; that’s what drove my utilization, bonuses, and promotion. While living close to the office would've improved my lifestyle and social/professional life, I believe being tenacious, proactive, and easy to work with is enough to counteract the commute. Even now, I currently work in RX consulting maintaining a 60+ min commute on a hybrid schedule. The hours are tough and I despise the commute, but I make it work by staying tenacious/proactive while producing high-quality work.
If you’re trying to prioritize the job above all else, moving close to work is safer. But if you’re financially risk-averse, living at home provides an amazing safety net. If you try the commute and it doesn't work, maybe you’re stuck on non-stop CDDs and the commute is coming at the cost of your performance, keep a healthy emergency fund and $10-20K in an HYSA so you can move closer quickly without sacrificing your job
#sigmamindset
Partially dependent on city, but I'd decide not to live with parents. When I worked in NYC was a dude on my team always leaving stuff early to catch the LIRR back to his parents place. On the other hand, my commute to the office was 30-40 minutes, but I was in the city. So I didn't struggle with trying to find the right time to dip.
A 40 minute drive is rough after working the hours you'll be working. You make enough to delay paying off loans by two years or something. By 35 you'll forget that this was even something you did. Bite the bullet and just pay rent.
You can also live at home for a few months, see how you like it, then move closer around wintertime when rental market softens a bit and there's more inventory.
Depends on city. If VHCOL like NYC/SF would live at home 1-2 years and save $$$ then move out.
If this is in like Atlanta or Charlotte definitely rent.
What about Chicago?
in Chicago just find somewhere cheap w Roomates tbh.. imagine you can find $1.2k/room and the marginal $12k-14k isn’t worth the commute
Laudantium minus accusamus unde nemo quia quia exercitationem. Et dolorem placeat totam quae. In tempora quibusdam aperiam alias velit dolorem ea minima.
Maxime hic aliquam laudantium ea. Labore voluptatem officia ut ut soluta. Velit delectus non placeat voluptas.
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...