Is $1800 a month on rent + utilities too much for 1st Year IB Analyst?
Planning on signing a place in Chicago (River North) for around $1800 including utilities. Making 85k base. Is this too high? Place has good amenities, including a great fitness center, and is within walking distance from the office which are big factors in my decision.
nah thats cheap
Definitely not a bad price for River North by any means. Are you from Chicago?
I'm not, so I'm not sure what rent prices usually go for in that area.
I’m from Chicago and moving downtown after summer and I’m fairly well versed in the neighborhoods & rent prices. Most people in live in Lincoln Park/Lakeview right after undergrad, which could be like $600-$1,000 cheaper per month (if you have roommates), but not the nicest buildings but a sweet area (tons of nightlife). Some people will also live in Wicker Park right after undergrad but I think LP/LV is more popular still. River North is one of the nicest parts of the city, with more expensive clubs (Tao) and restaurants and also nicer apartments. RN seems like its more of the 26-30 year old crowd (has some money but doesn’t have a family yet). Do not live in the Loop. Feel free to PM if you want more info.
yes way too high
Sounds about right for NYC, probably too high for Chicago.
what place in Chicago? I’m looking for places and would easily pay $1,800 for a 1 bed in River North.
I know a guy who lived in the Bronx for 500 per month while he was working as an IB analyst at one of the BB banks.
My general advice is save as much money as you can, especially as an analyst. We're in very choppy waters right now, and frankly your job is never secure.
First year analyst in Chicago here — most people in River North, West Loop or Streeterville are paying $1600-1900. You can find places close for cheap, but they won’t be nice and you can find places that are nice for cheap but when you have to commute 30 min in the winter during a stretch of 95 hour weeks you might lose your mind.
do most go with roommates or get a 1 bed/studio? also going to Chicago and not sure what I want to do
Nope, sometimes convenience is worth the extra ~$200-300 you can save a month on rent IMO.
I'm in NYC and definitely pay more than most 1st year analysts but have an unreal location for both work and social life, a real doorman for deliveries and other issues that might arise, and I'm not living on the top floor of an old, sketchy walk-up with bad air conditioning / heating systems that is far from my office.
Quite frankly I make a bunch of the premium I'm paying back by saving on subway prices and ubers by walking to work/ most bars
Murray Hill?
Downtown. Murray hill is a good spot for midtown banks tho, not a ton of social life in walking distance tho IMO
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