Was hoping to hear from bankers working downtown and living right near the Exchange Place PATH train. Looks like it really isn't that bad since its like a 5 min train ride to WTC and could quickly catch a subway or even walk depending on the firm / building. So seems like a doable 15-20 minute commute.
I've been checking out past posts on JC, and obviously have come across the social drawbacks of living in JC but for IB, doesn't seem like a big deal to me. Also, slight inconvenience in the evening with PATH trains running every 30 mins, but taking a car home seems doable in 15-20 mins if can't wait to catch PATH.
I'm thinking it's definitely doable, and more attractive given cheaper rents for more space, no city tax, and not a burdensome commute at all it seems. But wanted to hear from people actually living it.
If I recall there was one train an hour after 11pm. Going home late sucks from Path if you don't catch it right away.
It's every 30 minutes.
You get out of work at midnight. You're tired, you're burnt out. You have to get up at 7:30 AM to get back in at 8:45 tomorrow morning.
You head to the PATH station.
People are streaming out. Ruhroh. That means the train is in the station and about to leave. You dash down the 200 foot escalator, tap your pass and cross the turnstyle, run for the stairs to catch the train...
You hear the screeching sound of subway cars moving. Your heart sinks. It's gonna be another half hour.
It's a cold December evening. You can see your breath. Those heat lamps are worthless. And homeless dudes are sleeping in the seats you could really use. Oh well, another half hour to Exchange Place.
Finally, the train comes. Everyone rushes on. Oh wait, you're going to sit in the f---ing station for another seven minutes while the f---ing conductor stops and talks with the station folks because the train isn't scheduled to leave yet.
Finally, the train screeches out of the station. Four minutes under the Hudson, and you're back in 0% city income tax, $1000/month/room rent JC.
If you work in research or trading and normally get out before 9, I recommend JC. Working in quant analytics, I had about 1-2 midnights a month and could get away with a car service 2/3 of the time for that. And living in JC for four years EASILY saved me enough money to pay for grad school.
Social life is nice but lower key. You'll make friends in JC/Hoboken, but it's more middle-class and/or less douchey depending on your outlook in life. Grove street has a lot of great places to eat and hang out with friends, including The Merchant and Taqueria. Moving closer to you, Komegashi and O'Connell's on Montgomery Street are also awesome.
Montgomery Tower and Paulus Hook Towers were built in the 1960s, but can save you about $400/month/room in rent over Exchange Place. It's also still in the very safe middle-class neighborhoods of JC. Instead of paying $1300/month for half of a two bedroom, you'll pay about $900. The difference is that you get a "security guard" instead of a doorman, lose the rooftop, and you get the accomodations of a 50 year-old building rather than a new 5-10 year old one.
If you work in IBD and routinely get out at midnight, I recommend you stick with Manhattan and stay within walking distance. The PATH runs every three minutes during civilized hours. It just shuts down after ~10-11 PM.
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