Is there any point at all to stay in NY if I’m planning on staying a banker.
Intern at GS NYC. Plan on staying in ib forever primarily because I don’t like pe and the risk of getting stuck at vp and like the idea of being a glorified salesman who wines and dines and I don’t really get why I’m in NYC, taxes and Col fuck me better and harder then I could’ve ever fuck my girl. Why do people not just go to regional offices especially like Chicago and Houston(more Chicago) and live wealthy and own a 3-4m mansion at 28-30 instead of some NYC shoebox while also saving much much more. Why not be the top guy in Chicago instead of being just another guy in NYC?
Who says you have to stay in NYC?
Any other stupid questions?
jry
escalated quickly lmao
Much smaller offices with 1-2 coverages. COL is lower but if you want to move around, there are far fewer seats/options.
Houston has a thread on here every week or two - COL is wildly low but not everyone want to cover oil and gas companies, not a great city to live in, it can be hard to move to NY or out of O&G, and they also won't take people who don't have TX ties to begin with.
Depends on a lot of factors but I would say one of the main ones is until NYC is no longer the de facto finance capital of the US, proximity to the street is always a benefit. More clients might be there, flagship groups etc. Additionally, a lot of guys at the MD level do move around a good bit, once you build your client base you have more freedom. Finally, $3-4 million mansion in Chicago or Houston at age 28-30 is laughably overestimating IB pay.
is it tho. At 30 you should easily be vp making 600-750. X4 that is 2.5-3m. Be a little house poor and 3.5m is reasonable especially if you can save early years and invest decently.
1. VP's rarely (if ever) make that much, especially outside of NYC, will probably be closer to half of that
2. Taxes still apply even in a low COL city
3. This entire scenario is based on assumptions that everything works perfectly, there will likely be down years, you may switch shops, you might burn out, you might not be good at selling, the idea that every person in IB has a golden path to being a rainmaking MD is just not true
I like your username [@FIG newton]
Yeah no imo there really isn’t much point tbh, people always hype up the networking opportunities and the “organised chaos”, but when I’m on a delayed $2.90 subway train with piss sloshing around the cabin heading to my 6 by 10 cell of an apartment after paying 45% tax, idk boss…
If you actually want your money to go a long way, go to Charlotte
charlotte is so boring tho man. I mentioned Chicago and Houston because theyre still solid cities, especially chicago but man charlotte is dead and im saying that as someone who grew up in NC.
That's just the trade-off. Personally I would have a lot more fun if ~40% of my income wasn't being taken in tax and I could take a boat out on Lake Norman every weekend. Just depends on your definition of a fun city
Why do so many of you people use such vulgar language? You can make your point without reference to "being fucked" and going further to reference "your girl". I get you watched Succession and think it's the best show ever but that doesn't mean you need to be vulgar.
I just find it cheap.
1. ive never watched succession.
2. you sound so liberal man I cant lie
3. this isnt daycare or OUR far left ivy campus
4. I wish I found nyc cheap
I think you have it opposite - I find liberals to be more vulgar than conservatives.
Do you know how stupid you sound saying that it is "liberal" to find excessive swearing inapprorpriate?
yeah this kid talks like a retard, but you sound incredibly karen for getting mad at someone for using "vulgar lanaguage" on a internet forum
Because other cities are full of 2nd tier, JV bankers. For me… would be a decent move once I want to chill and have a family. But for now I’m in my ambitious phase and want to be around straight killers
thats the thing though, youre an aso already so your pay will be identical and take you much further in any other city. And tbh if you specialize in industrials or energy youre not really jv, youre just kinda ina different lane. Agree that CLT, LA and DC type cities are fully jv.
I mean boss, at all the BBs no matter what city ur working out of, u get cross staffed all over the place so you’re working closely with the NYC guys and getting evaluated with the NYC guys no matter what. I think with modern tech, the idea of the NYC bullpen being the fuckin gulag and only the fittest survive is slightly outdated.
Eh, I still find there to be a materially different experience by being in office with the killers. My old firm cross staffed offices and the best junior bankers worked out of the same office with the best senior bankers (and there was a very clear difference even though all junior bankers had similar backgrounds). It's all of the side stuff like debriefing in person after deal calls etc that people can't be bothered to do if they have to schedule a teams meeting.
What's JV
Shame GS is wasting your talents by having you as an intern. Guy like you (straight as hell, eloquent, modest) should be running deals not turning pages.
Tbh man I agree. I think that’s why I had offers at JPM, BofA, WB and PJT as well, they must’ve seen something.
Screw nyc go to Miami no state income tax
no shops in miami tho? where would you even go
This guy isn’t interning at GS lmao. It’s the southern_semitarget user (black kid incoming freshman at Emory). Literally the same atrocious typing patterns and subjects.
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