Moving to Charlotte, NC

Moving to Charlotte. I just received an offer from one of the two large investment banks in Charlotte, NC and I was curious if anyone from the area had any advice on housing/ apartments.

From what I've heard, you want to live within walking distance of work due to the long hours. My issue is all the places near work cost anywhere from $1,000 to $1,300 unless I go with a studio which can get me closer to $950.

So the questions are...

  1. Do I need to live in walking distance (ie uptown within 5-15 minutes of work)

  2. Should I feel comfortable paying $1,200-$1,300 on rent alone? Or should I shoot for the not-as-close/not-as-nice places for $800-$1000?

  3. Since I won't be spending much time in my apartment anyways, shouldn't I just get a studio?

Thanks for the help guys.

Comments (30)

Oct 6, 2011 - 3:00pm
SECfinance, what's your opinion? Comment below:

Get a roommate or get a studio.

MM IB -> TMT Corporate Development -> New Ventures
Oct 6, 2011 - 3:01pm
Nefarious-, what's your opinion? Comment below:

Wells?

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
Oct 6, 2011 - 3:23pm
longn, what's your opinion? Comment below:

Can't comment on housing but a good place for after hour drinks and the night life is at the "Epicentre". Lots of places to eat and about 4-5 bars. Chicks are pretty decent downtown, but there isn't much to do in Charlotte other than that.

Jun 25, 2020 - 2:53pm
CamNewton1, what's your opinion? Comment below:

Epicentre is not the place to go. South End is definitely the best place for drinks and social life (if you are in your 20's).

Oct 6, 2011 - 3:29pm
CaptK, what's your opinion? Comment below:

Here's everything you need to know: http://www.wallstreetoasis.com/forums/definitive-guide-to-analyst-housing-in-charlotte

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
Oct 6, 2011 - 3:44pm
Brovechkin, what's your opinion? Comment below:

Okay... This is all good stuff. So finding a roommate or settling for a studio sounds like the way to go.

I am finding it extremely difficult to justify spending $1,280 for a 1-bedroom in the Catalyst but I did the math and thats still less than 1/3 gross income. Can anyone justify spending $1,280? Also, no idea about finding a roommate... they would have to be at WFS or BofA to make sense.

POISE: Sting like a bee. Do not float like a butterfly. That's ridiculous.
  • 1
Funniest
Oct 6, 2011 - 4:17pm
Nefarious-, what's your opinion? Comment below:
Solidarity:
jesus I would be paying less in NYC

with 4 roommates maybe.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
  • 2
Oct 6, 2011 - 4:30pm
Brovechkin, what's your opinion? Comment below:

So I've heard that I "Should not spend over $1,000" and also that "$1,280 is not unreasonable considering the base."

Hmm...

POISE: Sting like a bee. Do not float like a butterfly. That's ridiculous.
  • 1
Oct 30, 2011 - 9:32pm
psirule, what's your opinion? Comment below:

Moving to Charlotte (Originally Posted: 03/27/2010)

I am moving to Charlotte in June. Looking for a roommate to share a 2br/2ba around uptown. PM me if interested.

Oct 30, 2011 - 9:33pm
financier007, what's your opinion? Comment below:

Hi,

I will be moving to Charlotte on May 1 and will be starting work the following week for one of the investment banks.

I have tentatively reserved a studio apt. in Charlotte but would be up for a 2bed/2bath, however since I am beginning as a 1st year Analyst in May, I will have to have the lease start in May as well (not sure if this is ok with you as I know most Analysts join in June).

Let me know if you are interested and I would be more than happy to further discuss.

Thanks

Oct 6, 2011 - 4:31pm
cphbravo96, what's your opinion? Comment below:

One thing you might want to consider is finding an 'okay' place for a few months and then moving when the new analysts start or if you meet someone that you can tolerate that might be looking as well. Ideally, if you could find a monthly leasing situation and just keep an eye out for either roommate opportunities (so it costs less overall) or wait until you have an idea of where you want to live, etc. then you might be better off. Otherwise, go with a studio...it's all you will need and more than you will even get to use, lol. Save the extra cash and find a nicer, bigger place that you can split with an analyst you get along with from the office. When it comes to situations like that, it isn't the rent that gets to me, it's shelling out so much for utilities, cable, internet, etc. that really burns me since you are paying the bill all by yourself.

My buddy lived in South End during his first year, so maybe a 5 minute drive, and he was fine (he was also in TMT group and worked horrendous hours) however, those apartments tend to be just as expensive as the ones Uptown minus the luxury of walking a few blocks to work...so keep that in mind.

Honestly, I don't think 1/3 of your gross income is that bad when you factor in you will get a bonus at the end of the year so you won't necessarily be 'poor' if you are able to live reasonably. I was always shocked by the 'high' prices relative to other cities, but Charlotte is pretty nice and when you are leaving the office at 3am, being a couple blocks away beats driving several miles home to a place that actually doesn't cost much less and is not any nicer.

With all that said, I do believe lots of analysts live in Catalyst. You can also look at Avenue, Trademark and Fifth & Poplar. Also, rumor is that some of WF IB is moving over to the Duke Energy building...which may not be of importance to you if your offer was for BoA.

Also, there is a smoking hot hostess at the Ruth Chris there in Uptown, lol.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
  • 2
Oct 30, 2011 - 9:35pm
865finance, what's your opinion? Comment below:

Charlotte, NC - Looking to network (Originally Posted: 02/05/2014)

Just moved to Charlotte about three weeks ago to start in CIB with SuntrustRH.. Looking to network with some young finance professionals, as I am 22 and a recent college graduate. Just curious if any of you are living in Charlotte and if there is any tips you may have to network? Such as groups, networking events, etc. Any advice is good advice.

Thanks guys.

Oct 6, 2011 - 4:34pm
Brovechkin, what's your opinion? Comment below:

That is a solid idea my friend. Thanks for the help everyone.

POISE: Sting like a bee. Do not float like a butterfly. That's ridiculous.
Oct 30, 2011 - 9:38pm
canas15, what's your opinion? Comment below:

What can you guys tell me about Charlotte? (Originally Posted: 12/04/2012)

So, I'll be starting as an FT at some rotational program at some bank there. Those of you who've lived in Charlotte, what do you think of it? Strange question to ask, but speaking as someone who grew up in/somewhat close to pretty bustling cities, I'm kind unsure what to expect.

Oct 30, 2011 - 9:39pm
Cruncharoo, what's your opinion? Comment below:

It's in the south and there will be gorgeous girls there.

This to all my hatin' folks seeing me getting guac right now..
Oct 30, 2011 - 9:41pm
mikesswimn, what's your opinion? Comment below:

My buddy lives in Charlotte and I've visited him a few times. It's a lot of fun down there, but the traffic is starting to get pretty bad, so make sure you live in the city. It's not NYC traffic, or worse, DC area, but it's getting there slowly but surely.

Also, as Crucharoo noted, hot chicks, lots of them.

"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."
  • 1
Oct 30, 2011 - 9:42pm
SECfinance, what's your opinion? Comment below:

Hot girls, pretty cheap COL, probably a little on the quiet side depending on what you consider a bustling city, but in my opinion anyone who can't have fun in Charlotte is doing something wrong.

MM IB -> TMT Corporate Development -> New Ventures
Oct 30, 2011 - 9:43pm
Ben Shalom Bernanke, what's your opinion? Comment below:
SECfinance:
Hot girls, pretty cheap COL, probably a little on the quiet side depending on what you consider a bustling city, but in my opinion anyone who can't have fun in Charlotte is doing something wrong.

This.

Hot girls, cheap cost of living, awesome weather. An all around cool city.

  • 1
Oct 30, 2011 - 9:44pm
seville, what's your opinion? Comment below:
canas15:
So, I'll be starting as an FT at some rotational program at some bank there. Those of you who've lived in Charlotte, what do you think of it? Strange question to ask, but speaking as someone who grew up in/somewhat close to pretty bustling cities, I'm kind unsure what to expect.
Bank of America FMAP?
Oct 30, 2011 - 9:45pm
canas15, what's your opinion? Comment below:
seville:
canas15:
So, I'll be starting as an FT at some rotational program at some bank there. Those of you who've lived in Charlotte, what do you think of it? Strange question to ask, but speaking as someone who grew up in/somewhat close to pretty bustling cities, I'm kind unsure what to expect.
Bank of America FMAP?

Nope.

Oct 6, 2011 - 10:20pm
deal_mkr, what's your opinion? Comment below:

IDK who is telling you not to spend over $1,000 however they must not work in Investment Banking.

Living in SF I pay ~$1,500 a month and consider it a bargain (and very affordable on 1st yr analyst salary), in NY you are looking at ~$1,750+

Catalyst is a great building and $1,250 is a steal for a 1BR in any major city. It is worth it to live in a nice place, you might as well since you can afford it. There are several other good buildings within easy walking distance of downtown however I dont recall the names, check craigslist or google.

I would highly recommend finding a roommate however especially if this is your first time moving to Charlotte.

Oct 6, 2011 - 10:25pm
Cries, what's your opinion? Comment below:

I live in the catalyst. If you work for WF, you will not regret it. Its literally a 2minute walk to work, possibly less depending on how long you have to wait at the traffic light on Tryon. A lot of analysts would kill for that luxury.

I go home to take naps in the middle of the day...enough said.

Also, my rent is only 1049 for a single at Catalyst and I moved in about 1month ago.

Array

  • 1
Oct 6, 2011 - 10:37pm
Brovechkin, what's your opinion? Comment below:

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POISE: Sting like a bee. Do not float like a butterfly. That's ridiculous.
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