Associate rent/budgets
For those starting off as new associates in NYC this year - I was curious what you plan to set aside for rent / how you plan to budget?
I think most of us are too old with live with roommates, so I was mostly wondering whether you plan to live in a studio or 1 bedroom? Uptown/Midtown/Downtown?
It appears that decent studios in doorman buildings go for anywhere from $2000-2800 (excluding brokers fees) and 1 bedrooms go out at $2500-3500. This is obviously a pretty big chunk of a $100K base salary.
Any thoughts or experiences would be welcome.
5th floor walk-up studio on 11th ave= $1500/month.
Must be a bitch buying groceries and shit. Good exercise, though, I suppose?
How long does it take riding the subway from Queens/Brooklyn to downtown Manhattan?
That is a waste in my opinion. Look elsewhere like Brooklyn/NJ/queens area closeby.
At $100K, youre looking at ~$5600/month after taxes. Do you really wanna spend about half of it on rent alone? Damn, I'd gladly ride the subway daily to save about $1000 each month.
I am not looking to live outside of Manhattan. It is far too inconvenient on the longer nights in this job, especially as a first year associate. If I worked a normal 9-5 or 9-7, I'd consider it.
Realistically, there really aren't too many walk-ups on 11th Avenue - only a handful of high rises which are fairly pricey. I guess I could consider 1st Avenue... but it really does not appeal too much. Additionally, the convenience of having a doorman building is immense in this job. I don't foresee doing my own laundry as a first year associate, for example...
I guess I'm just looking for validation that others plan to be as wasteful as I am being. This is a first for me, but I don't see too many other viable options.
"Must be a bitch buying groceries and shit. Good exercise, though, I suppose?"
how many groceries do you plan on buying?
paying the extra money to live closer to the office is 100% worth it..a ten minute commute each way vs an hour commute each way is a massive difference in what limited free time you'll have
http://www.mns.com/manhattan_rental_market_report
In case anyone is interested... A pretty good report of what the rental market looks like today.
I live on 11th ave in midtown. There is no decent studio you will get for less than 2600 at least in clinton/midtown west, if you want a doorman. A good number of associates/vps/svps live in my building and studios start at 2900 but with a month or two free per year
I suggest you either drop the doorman and go for walk up builduings or look at murrayhill or FiDi area.
Goodluck
Sed voluptate illum eos delectus provident qui nulla. Quo sunt temporibus expedita fuga. Enim velit rem aut.
Labore officia dicta qui quaerat. Soluta sint sit nemo facilis dolores ratione non. Voluptates quia harum et assumenda.
Autem enim consequuntur dolores sed aut dolores quis. Quo voluptatum culpa sunt soluta enim beatae. Et commodi sint ipsam debitis consequatur. Sed tenetur non beatae velit enim repudiandae.
Possimus nisi eveniet repudiandae qui aut commodi. Officia fugit fugit possimus dolores. Ut harum sunt iusto quo adipisci. Quidem est enim voluptas aut. Iusto nihil ullam sunt maxime corporis quae. Vero quod sunt reiciendis dolor nihil facilis.
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...