Living with Roomates v. Alone in Banking

All,

I'm starting full-time in NYC IB this summer. I'm curious to hear from those of you who have lived alone and with others during an IB stint. 

  • Is the 20-100% premium in rent worth living alone?

  • Did you mind living on top of someone else when your stress levels were/are that high? Or does it even matter if you're not home that often?

  • Does this change in the WFH era? I think by August I will go into the office at least half the time, whether by my own choice or the banks.

Thank you for the advice!!!

Comments (40)

Mar 12, 2021 - 8:03pm
AllbirdBroker, what's your opinion? Comment below:

Have you lived both alone and with roommates, or are you just observing that living with buds is entertaining? 

  • Analyst 1 in IB - Gen
Feb 28, 2021 - 12:48pm

all personal preference

imo i like the privacy and having a place to myself - living alone has also become affordable even for analysts

Feb 28, 2021 - 1:45pm
AllbirdBroker, what's your opinion? Comment below:

I'm the same in that I really enjoy my personal space (clean, quiet, etc.). But with WFH I think it would be more fun to live with someone else.

  • Analyst 1 in IB - Cov
Mar 4, 2021 - 4:25pm

After living with roommates throughout all of undergrad, it is so refreshing to have my own clean place. Can always hangout with people when I want but personal space is incredible to have. 

Also nice to be able to buy stuff when you don't need to keep in mind your roommate will probably abuse it lmao (go for that light grey couch)

Feb 28, 2021 - 1:29pm
sloppysteve123, what's your opinion? Comment below:

WFH alone is suicide inducing tier shitty. Even before WFH it was nice to have a roommate to vent to and bitch about work with. You also expand your social circle which will be tough to build and/or maintain while working awful hours.

So yeah, i'd say get a roommate who is also in IB.

Feb 28, 2021 - 4:08pm
elmadrileño, what's your opinion? Comment below:

Depends. If you know who my roommate will be then yeah, go for it. But random or quasi random is a lottery, specially in your 20s. If you care about cleanliness as much as I do then its not worth it risking an awful roommate.

One of the worst feelings is coming home after an all nighter and seeing a filthy kitchen or a messy living room. It makes my blood boil

Feb 28, 2021 - 5:25pm
sloppysteve123, what's your opinion? Comment below:

elmadrileño

Depends. If you know who my roommate will be then yeah, go for it. But random or quasi random is a lottery, specially in your 20s. If you care about cleanliness as much as I do then its not worth it risking an awful roommate.

One of the worst feelings is coming home after an all nighter and seeing a filthy kitchen or a messy living room. It makes my blood boil

That blows man, it's tough living with raging autism. 

Mar 4, 2021 - 10:51am
IncomingIBDreject, what's your opinion? Comment below:

sloppysteve123

elmadrileño

Depends. If you know who my roommate will be then yeah, go for it. But random or quasi random is a lottery, specially in your 20s. If you care about cleanliness as much as I do then its not worth it risking an awful roommate.

One of the worst feelings is coming home after an all nighter and seeing a filthy kitchen or a messy living room. It makes my blood boil

That blows man, it's tough living with raging autism. 

username checks out

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Feb 28, 2021 - 9:31pm
AllbirdBroker, what's your opinion? Comment below:

Yeah I empathize. I have pretty pressing OCD and it's made living with even my best friends challenging in college.

With that being said, I would be living with two buddies from my college in IB so I think it would be a ton of fun

  • Intern in IB - CB
Mar 4, 2021 - 4:21pm

I totally agree with you. I am not a clean person at all, I was definitely fine with the super messy dorm suites with 3 other guys I lived in during college, but as I get older and move into nicer places it just blows my mind how some guys in the early 20s have such an extreme disregard for basic cleanliness. I'm not exaggerating when I say I don't think my current roommate has done the dishes or taken out the trash in 2021, let alone actually straighten up the living room. I plan on continuing to live with roommates probably until I either go buyside or A2A but cleanliness is a big priority in my next roommate... 

Feb 28, 2021 - 11:04pm
Bankerconsu, what's your opinion? Comment below:

Live with a roommate but make sure you know the person and can reasonably see yourself becoming friends. 

Do not room with a stranger that doesn't work in finance. you'll drive that person crazy and they'll drive you crazy.

Mar 3, 2021 - 11:25pm
BettaBeta, what's your opinion? Comment below:

Living alone during covid has been a saving grace. Lived with a roommate my first year as an analyst who had noisy friends over 24/7 then moved into a studio. I'm also not the chillest of roommates and really value my sleep lol so maybe take my opinion with a grain of salt if you're more laid back. Not having to worry about another person or doing something that will bother a roommate is absolutely great. I thought it would be lonely but it's really not and especially amazing during covid. However, if you know somebody or have already lived with a friend and know you're a good fit then I think having a roommate is great. If not though, it might be risky, especially during WFH if you're presumably going to be around the person 24/7. 

  • Analyst 1 in IB - Gen
Mar 4, 2021 - 2:38am

how big is your studio? i'm looking to move out of my place and get one. is 500sqft enough?

Mar 4, 2021 - 2:19pm
BettaBeta, what's your opinion? Comment below:

I think mine is 450. It's livable lol. I think I have more space to myself though compared to when I was in a flex with a roommate 

Most Helpful
  • Managing Director in IB-M&A
Mar 4, 2021 - 7:35am

Live with a buddy (from hometown/from college/friend of friend) would be my advice.

It's v sad coming home to an empty apartment after grinding into 4am. I had a roommate and he would often not be at home by then which would make me think oh I'm not the only one getting fucked. And vice versa when our situations were flipped. Kinda just gives you perspective.

Also, nice to have someone who you can hang with. Sure pre-game at one of the analysts apartment sounds great but what if you miss it because of work? You and your roommate buddy can buy a handle and a chaser, down x many shots at midnight for optimal buzz at 1:30-2am and head to the bar/club/join your analyst friends. 
Banking analyst experience is all about camaraderie...at work, at home, at bars

Mar 4, 2021 - 3:32pm
AllbirdBroker, what's your opinion? Comment below:

I knew IB was collegial but wasn't giving it enough weight vs. my own peace of mind, cleanliness, etc. Thanks for this perspective -- you've officially convinced me to live with fellow analysts.  

Mar 4, 2021 - 5:29pm
LuciferMorningstar, what's your opinion? Comment below:

There is no discount rate high enough to account for the reduced quality of life in not being able to walk around naked. Enough said. 

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  • Analyst 1 in IB - Gen
Mar 4, 2021 - 9:21pm

hahaha facts. the privacy is so underrated

once you experience living alone you can never go back to having roommates. 

  • Analyst 2 in IB - Cov
Mar 5, 2021 - 12:25am

cant emphasize enough how quickly i'd have jumped out a window if i didnt live with a few buddies who were also in banking. the feeling of getting home from a long night and posting on the couch for a quick episode of TV, having some boys to chill with when you wake up hungover on a sunday, and someone already said this but getting home from a 2am-3am night and seeing your buddy is still cranking as well is one of the weirdly most comforting feelings in the world man. beats any of the downsides of having roommates imo.

Mar 5, 2021 - 5:15am
JoanJhoness, what's your opinion? Comment below:

I think it's better to move and live single when you're prepared for this, like, you have a good job and you can pay for the rent.

  • Works at CorpFinance
Mar 12, 2021 - 10:51am

Had a roommate when I got into IB and within a year got my own place (moreso due to location).

The comradery in working in the bullpen with fellow IBers (Analysts, Associates and so on) is one of the key aspects of keeping your sanity in the role as it help fill the space social aspect space for the most part during my time in IB (outside of weekend excursions, but I digress). In this current environment, I probably would want a roommate, but that answer would change as things return back to normal.

I would recommend a roommate if you are initially starting out in IB and looking to get settled into life after college (a lot of analysts I worked with did this). After some time, having your own space may become something you grow more enticed with for a variety of reasons.

Mar 12, 2021 - 7:56pm
AllbirdBroker, what's your opinion? Comment below:

In this current environment, I probably would want a roommate, but that answer would change as things return back to normal.

^And that is the million dollar question. In terms of the current vaccine timeline..(i.e. May 1 availability, mid-summer openings, in-office work this fall with WFH flexibility)...would you live alone or with a roomate(s)?

  • Works at CorpFinance
Mar 14, 2021 - 12:09am

I live alone so I would prefer to do so since the degree of freedom in having my own place outweighs considering a roommate.

I would say with things returning to some kind of normal this summer and beyond, you will see a heightened amount of social interactions (post-vaccine availability for all adults, I guess). This may also influence how much you would a roommate considering a lot of people are making plans to be out as much in the coming months.

  • Incoming Analyst in IB-M&A
Mar 13, 2021 - 5:48am

Not yet in IB but I've lived on my own while working before. I'd prob say having a roommate is better if they're clean and you get your own bathroom. I lived in a 2br/2ba with 4 other dudes for a short time and one of the guys would just take out his contact lenses and leave them on the bathroom counter. Fruit flies and cockroaches were a daily sighting. At move-out, we found out that one of the guys left an onion in his dresser for a few months which explained the flies. 

It's nice to have someone to chill with or vent to. I've also had bad luck with my health so it was comforting to know there was usually someone around who could take me to the hospital or call 911 if needed (unfortunately had to utilize this once). Obviously the rent savings are a plus too.

  • Incoming Analyst in IB-M&A
Mar 14, 2021 - 9:08am

Your guess is as good as mine. I don't think I ever heard the guy speak in the six months I was there. 

  • Prospect in IB - Gen
Mar 13, 2021 - 10:09am

Depends on your priorities but, personally, I'd rather live alone at this point. Have had a few cautious experiences with roommates in college and WFH could make it difficult to share an apt with another analyst..

Mar 13, 2021 - 1:41pm
JuulAddict, what's your opinion? Comment below:

I lived alone through banking and PE. If I had to do it over agin I'd probably live with someone else but put effort into getting more space. That way you can still have your own room/space but not be completely bored at home.

Mar 14, 2021 - 1:06pm
Batman-Robin98, what's your opinion? Comment below:

depends on personality 100%

like for me id like to have my space but would be bored/lonely if I came home to an empty apt every night 

but with that said there are people that like to be alone and are kind of introverts and like that feeling of personal space and everything being in the apt the way they like it 

I would say DONT LIVE with a stranger .... that's kinda whack and you don't know them well enough to know their habits and what they prefer in terms of cleaniness and stuff like that 

I'm gonna live in nyc this summer with a couple of my best friends and i know its gonna be great cause I've roomed ith them in college and we are in the same frat so i know everything about them in the sense that i know we would have a blast in the apt and are compatible living together 

but everyone's different 

cheers y'all

  • Analyst 1 in S&T - FI
Mar 14, 2021 - 1:12pm

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Mar 15, 2021 - 1:03am
AllbirdBroker, what's your opinion? Comment below:

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