Broke Analyst - NY
Is anyone else who started in the fall feeling like they're broke? Assuming you max 401k, you're left with ~5k. 2500 to rent another 800 to food (that includes brining some stuff from home some days) 200 on skincare/soaps few for medication few for utilities, you're left with like 500-800 bucks maximum. For a job that's supposed to be the best out of undergrad this is not thriving. I haven't asked but I can tell other analysts are getting bankrolled by mom/dad when they're sending Casa Cipriani and Zuma every other weekend. I've gone a few times (never paid) but holy shit are we being stretched thin.
Maybe dont max out 401k?
Nah, power of compounding, maxing when you’re young is key
True, but cash flow management is also important. Contribute 10-15% each month prior to bonus and max out the remainder once bonus hits.
maybe stop eating food?
I just don’t eat
Anybody gonna comment on the $200/month for soap?
this boy can't afford to send it in zuma, so he sends it in the shower
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Incoming glock-19 shots are FIRED
Houston banking is paradise. Simply return fire.
"I save $20k a year in my 401K before bonuses - why am I so broke?" - 22 year old
Come to office 7 days a week. Save on food and utilities
You do not need to spend $200 on skincare a month!!!!! Go to a dermatologist, get a tretinoin prescription, find a good vitamin c serum and a good moisturizer and that should really be it.
After I max out my 401k (save $20k a year), pay for all of my living expenses in one of the most expensive cities in the world, and fund a $200/month skincare routine, I only have $500-800 of fun money a month and my entire bonus left! How is this possible on an entry level job!? Get a grip...
I'm an unreasonably cheap person. I live in NYC for reference. I work in PE now so make a little more but to save money:
Do an honest evaluation of your spending. Most of the time without realizing it there are 1/2-off the expenses that you are incurring but probably not including in your calc which is why you feel broke. Not the case for everyone but definitely for a lot of people I know.
This thread and it’s comments truly highlights why the quality of analysts is going down. Imagine working 80-100+ hours a week and having to eat rice and beans to get by or have to decide whether you’ll be able to save anything for retirement. Or getting told you need to cut out medicinal soaps to get some savings.
What’s even more laughable are the older commenters who not only try to claim this is normal but act shocked that the unicorn analysts are no longer working for them.
Lmao 100% on point. These washed up senior aso and VPs come on here to bitch all the time about their juniors or the "age of entitlement" and then go on to blame WFH as a reason for poor work quality...
The tops kids don't want to work for rice and beans...yall are losing them to tech, social media and other industries LOL
Ignore previous comments. Keep maxing your 401k and wait for the bonus. Then it becomes easier.