Commute from northern NJ to NYC

Hey everyone. Will be interning with a BB this summer, and debating on whether I should commute to save money or live in the city. I live in northern NJ (pretty close to NYC distance wise) but the commute is normally a 45min-1hr bus ride (no train stations in my town). I was thinking of living in the city, but given that my office is in midtown, short term rentals/leases are very high. On top of that I don’t know anyone from my school who I could room with to split rent given that I’m from a non target.

Just wanted to hear your guys thoughts and share your experiences. Once I start working full time I will definitely be living in the city, but is it really worth spending like $3k+ a month to live in the city for an internship?

 

Are you banking or S&T? If you're trading, live outside the city. Usually get off around 7 or 8 latest until final project time. Plenty of time to go home. You'll have to get up earlier but worth the savings. If you're in banking, don't even dream of it. That extra 2 hours of commute in the day is 2 hours you're going to need. Live in the city. I was in the same boat a few years back. BB in midtown. Didn't know anyone to live with. Refused to do the dorms. I actually got a hotel close by that did a great price. no way you get short term housing for under 4k a month within walking distance. airbnb would work but you'll get killed on the fees. My hotel bill was around 10k and I would recommend it to everyone and anyone. 

 

Yeah I’m in banking. I was thinking about getting a hotel room, but the only thing is that I wouldn’t be able to cook food. At the same time I doubt I’ll have much time to anyways.

How was your overall experience in the hotel? I’m sure it was convenient during the days you were working but what about on the weekends where you had time to go out and explore? Was it worth it? I was thinking maybe I’ll do it for the first month and see how it goes.

 
Most Helpful

100% worth it. Didn't have to buy or bring bedding. Didn't have to worry about towels or breakfast. That clean room and towels is a nice thing to come back to at 1 or 2am. yes, you can't cook. But for 5 days a week that won't even matter. Saturday/sunday that's different. Here's how I look at it: you're here to minimize time doing other things to focus on what's important: the return. Getting enough sleep and not worrying about anything else is a prime factor. happy to DM you the hotel I did/more details

 

Are you banking or S&T? If you're trading, live outside the city. Usually get off around 7 or 8 latest until final project time. Plenty of time to go home. You'll have to get up earlier but worth the savings. If you're in banking, don't even dream of it. That extra 2 hours of commute in the day is 2 hours you're going to need. Live in the city. I was in the same boat a few years back. BB in midtown. Didn't know anyone to live with. Refused to do the dorms. I actually got a hotel close by that did a great price. no way you get short term housing for under 4k a month within walking distance. airbnb would work but you'll get killed on the fees. My hotel bill was around 10k and I would recommend it to everyone and anyone. 

You’re highly recommending summer analysts pay $10k for a hotel which you won’t name for a ~10 week internship?

do they pocket $3k after the entire internship? Lol

 

not sure what slum you come from high hopes but did I say I wouldn't name it? All of my buddies swung by the hotel. Keeping anonymity. You can't swing 10k for the summer? sucks to be you cheap chump. NYU dorms didn't have air conditioning during my year. Oh and air bnb fees tag on another month's rent. Don't shit on others for your own insecurities. 

 

I would do NYU housing, you can go home on weekends but you will add a lot of stress to your life with that long of a commute. Banks are also not going to cover that $100-$150 Uber late at night.

Enjoy the social atmosphere, you will meet other analysts with NYU and IMO the intern summer is one of the absolute most fun experiences (they don't work you THAT hard, lots of social outings, analyst groups usually become very close) I wouldn't skip that to save a few thousand bucks especially with how much hassle you'd be adding to your life

 

Don’t disagree with this advice - but where did you hear banks not covering $100 ubers home? I took $100+ ubers home for months at my firm and it was expensed without issue (never received any messaging about it either).

I thought that so long as it’s your residence per HR portal they’ll pay for it. Unless there’s some places with a limit that i don’t know about.

 

Hey I actually live in north Jersey (think of Tenafly, Teaneck etc.) and commute to the city everyday. In the morning yes it is door to door for an hour (40-45 mins bus ride and 15-20 mins subway). Night time all the BBs reimburse Uber riders so it doesn’t matter how far you live.

In my opinion it is totally doable but you have to of course sacrifice some weekend socials. Weekends like Saturday or Sunday, you wouldn’t want to go to the city to hang out with your fellow interns because you are so far away. But to saving the cost, yes that’s like music in the air.

 

It really doesn’t matter so long you make up your mind to convince yourself. If you tell yourself to save money, then stay out of the city and live where you are / with parents in NJ; otherwise, go embrace the city - hangout with friends and fellow interns can form more camaraderie over the periods

 

NYU dorms. 5k for a single for the entire summer

 

I work in IBD and commute into NYC from northern jersey. In short, you will save a ton of money but you’re prob gonna average 4 hours of sleep during the week and have to catch up on the weekend. Personally I do not recommend doing it, has taken a toll physically and mentally on me

 

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