What are the positives and negatives of working in each city? Interested in hearing the culture differences, hours, lifestyle, etc- literally anything related to the job and lifestyle as an analyst. To my knowledge NYC is more intense than SF/LA but what do I know as someone who is still recruiting...
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Born and raised in LA. Love it here. This is my city and all my family is here. With that being said I’d say NY is superior. For one thing you won’t need a car and that’s a big thing here to have
Summered in and returning to LA - any tips from you on navigating living / fun / dating / etc.? Especially concerned about making friends / loneliness given the limited free time w this job + everything being so spread out in this city. Thanks :)
Interested too - thanks!
I have worked and lived in LA, London and NYC. Can't say much about SF, except that I don't like the place :D (I have briefly lived near San Jose, if that counts)
L.A.: My favorite place- it has the coolest, prettiest people. Girls are always tanned. This place covers most of my hobbies, mainly building cars and driving; everything is designed with cars in mind. There is always parking, everything is a big bigger and spacious.
Compared to NYC there is a lack of finance jobs, the breadth of the industry isn't there. Some decent opportunities in private equity and VC, we have partner firms there. I moved to NYC and Europe because I couldn't find the right jobs at the right time in LA. Most of my friends in this area want to become actors or be famous, but nobody ever does. Good place to go out, enjoy an active lifestyle, for driving, and anything that is outdoors. Nature is beautiful out West and the Pacific coast is a great experience.
The weather is amazing, you can go for a run on any day.
NYC: Within the US this would be the best place if you want to focus on finance and your career alone. There is lots of culture, diversity, and this is nice, big city. My career took off more in NYC than elsewhere. Great place to network, everything is nearby and you'll enjoy life here if you are young. Not the best place if you want a big house for a big family, but larger cities aren't perfect for that goal anyway. Finance people should be able to afford a decent life here. I don't believe I have ever had a boring day in NYC.
London: somewhat comparable to NYC, but different. Less expensive than NYC. Finance culture IMO a bit more relaxed compared to NYC. Networking is also easy, with the city and Canary Wharf being the main spots. This is a good place for a secondment or a year abroad. Europe in general is less focused on religion, except for the newcomers.
This place is excellent if you want to explore continental Europe as no-frills flights are abundant and interesting destinations nearby.
A lot of these choices are based on your interests, hobbies, goals, and lifestyle. A more active lifestyle outside, with a beach and outgoing people... California all the way.
A career-focused person who wants to climb quickly and a pay check to show it? NYC.
Comp is different in each place - negotiate well to accommodate your lifestyle. London, on average, pays less than NYC.
Really appreciate the detailed response! As someone from the PNW, I have an appreciation for the West Coast and definitely see myself living here for the long term. Spending some time in NYC at the beginning of my career definitely isn't out of the question, though and could be a fun experience. In terms of a secondment in say London or Paris, how do BB IBD's go about this? Do you just submit a request or something? I do love SF and tech for that matter so in theory it is my top choice at the moment, especially as I go to school on the West Coast as well.
If you like finance and also tech or fintech, look into the ever growing industry out West. There is a lot happening and it is very interesting.
secondment/rotation schemes/FLPD/internal mobility -all various names for internal HR programs. ask HR when you interview and don't act like you are moving tomorrow morning. be open-minded about the location of the role, unless they tell you that offices can be selected by the candidate.
At the end of the day this is more about your interests, hobbies and lifestyle and what you are trying to achieve. If your hobby, as an example, is spending a lot of time at the beach - NYC and London won't make you happy. Likewise, I know a few car enthusiasts in NYC who park their cars in New Jersey due to costs. Also, driving isn't a great experience in most densely populated urban environments. Nobody expects you to have a car in NYC or London, in fact, it would be easier if you didn't own one. But this, typically, doesn't work in LA.
But, then again, I don't think any regular young professional can afford any real estate purchase in any metropolitan region, regardless whether it's NYC or LA..
"normal hobbies" like gym, running, going out, (..) can be had anywhere, so not a deal breaker
Just one aspect that is a bit different than the others... dating.. if a young person moves to a certain location, they normally want to end up in a relationship or at least go on dates. I think dating is a bit harder on average Joe's in Southern California. I know quite a few girls "who are only interested in guys who work in entertainment" (aka actors, directors, producers...).
Competition is tough, many are really attractive/in shape, and money has a different value in Los Angeles and San Diego. All big cities are expensive, but I think it might be more tricky to showcase a "baller lifestyle" or "success" when many around you are hot and rich. While professional jobs are front and center in NYC, in SoCal there are athletes, actors, surgeons, real estate folks, etc that are "presenting the perfect instagram lifestyle". This, for many, is by far the biggest downside of living in LA - how to feel content with what you have and not wanting to keep up with friends and neighbors.
After all, Los Angeles is the city where the lifestyle is often centered around media, movies, content creators and modeling.
Great post. However disagree in that I believe nyc has better looking women than la. Nyc has a far bigger modeling scene, fashion, and media, and so has far more of the best looking women. Obviously everyone has different preferences but if we're talking about purely objectively the type of women that men with resources prefer (tall models) then nyc is the top city in the us / Western Hemisphere, and top 5 globally
this is correct, of course.
And I initially didn't want to mention looks or girls at all. I guess my type is more the typical Californian blonde.
but at the end it all worked out differently - I am now based in London and NYC with a European girlfriend.
West coast banking is better imo, not from a career standpoint but culturally.
Only thing that sucks is if your senior members are all in New York then they'll leave leave comments at midnight EST and it'll be 9pm PST and you'll have a long night.
So be weary of that.
Wary. Also that's a good thing otherwise you'd have gotten them at midnight est. what sucks more is in the west coast you need to wake up at 7/8 because people in et are up
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