Is NYC worth it?
Banks typically pay the same base salary whether it is NYC, Houston, Charlotte, Chicago, Dallas, etc. That said, is it really worth it to start a career in NYC? 100-115k analyst base salary does not go very far in NYC (cost of living), but that same base is pretty good in cities like Charlotte. People have told me that NYC has more/better opportunities in IB. Is this true? And does this outweigh the significantly higher cost of living? NYC does not have any appeal to me other than better professional opportunities.
From the perspective of someone who is from NYC, I don’t see the point in living here if given the opportunity to make the same amount of money else where. Unless you absolutely crave living the busy nyc life, I don’t think it’s worth it. As for exit opportunities, I’m an intern so idk but I’m sure nyc will offer the best exits (obviously). I personally want to be able to buy an “affordable” house and dream cars at a decent age (30s) and realistically I don’t foresee myself doing that while living in NYC. Just my two cents. At the end of the day it comes down to personal preference. Food in NYC is top tier though especially if you venture off into the other boroughs.
Bro brought up food... The moral of the story is to live where you want. NYC offers best opportunities and the most vibrant city. Also has its drawbacks. Would also consider most kids graduating wanna be with their friends and most go to NYC
as someone who is moving there soon, i do think it helps get ahead within finance since it is the financial hub of the US (at least when you’re young). also feel like you gain a lot from living there outside of just work, new cultures, perspectives, experiences, etc. nyc is a melting pot
if you are not as interested in those types of things, and feel as if your career is already on the path you want it to be, then maybe nyc isn’t worth it for you
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