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Get a job offer first. You've told us nothing about you other than age. Are you from the US? Do you need sponsorship? What was your prior experience? What are your qualifications? Yes, MO junior roles will pay around 100k, IF you're qualified.
Getting a decent apartment is as rigorous as buying a house, just smaller down payment.
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Rent in NYC - First year analyst (Originally Posted: 12/30/2010)
Hey guys,
So I'm going to be a first year analyst for IBD in NYC next year. I'm starting to look at apartments and I'm just wondering how much I should be expecting to dish out. $1,600 seems like a lot if i'm making about 4.5k pre tax a month. I'm curious as to what other people are paying for rent. I'm looking at the Chelsea area because that's in the middle of where I'm working and where my roommate is working.
Also, how much should I expect to be taken out of my paycheck on a monthly basis?
So your base is $54K?
$1,600 is alot IMO, if you're fresh out of college. I personally think fresh out of undergrad analysts should spend the first year or 2 with room mates spending like $1,000-1,250 in rent. You'll be working your ass off and it'll be nice to have money to spend when you're not at work. Additionally, the room mate thing works out well since there will always be something to do.
Good rule of thumb I've heard from several people is that you don't want to spend more than 1/3 of your take home pay on housing. I spent about exactly that on an out of state internship I had, and while I could live comfortably I definitely wouldn't have wanted to spend more.
No, my base is a bit more, not much but I just rounded the monthly income. And this would be with a roommate in chelsea. My problem is I just don't know new york well enough to know where to look and I only know one person going to NYC that I'm good friends enough to be roommates with. He's going to be working in battery park so he wants to be relatively near there, where as I'll be working in midtown.
If you're working in mid-town your prime locale is Murray Hill (2nd/3rd avenue, ~30th-40th street). Rent is cheaper, its mostly fresh out of UG professionals, and if you're fresh out of college and new to NY its not a bad place to hang out (until you know better).
Make sure you are moving in with someone and not visa versa. Last thing you want it to be a landlord and have to hound people for rent. This leads into part two. Live with people like you. No losers.
Murray hill is fun. Lot of nice bars.
Crush bitches my friend.
Anyone have experience living in Clinton/Hell's Kitchen?
My advice is to live somewhere that's walkable to work. If you are working in midtown, then MH is your best bet.
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1/3 of after-tax income, right? Because $85k after tax is about $59k a year, so 1/3 of that is $20k a year or about $1.6k a month.
Yup, but I wouldn't go over that. Spending a little less (25%-30%) would probably be ideal. Also, I'm still a student so take this advice with a grain of salt.
if you're not locked into a roommate, then you could use your firm to help you find a roommate in your class at your firm. however, living with someone from work would kinda suck
i have always found mid-town to be a bit soulless. i much prefer anywhere in the mid 20's and below. soho, tribecca, flatiron, etc
they are expensive but a hell of allot more livable than murray hill (which has a stereotype of being full of douchey frat guys who think they are still in college).
upper east has some good deals and is an easy commute to work
Best advice a monkey can give you: Spend $30 on a match.com membership and look for a doctor or chik with a decent job. Do what you got to do and move in with her ( Do not offer to pay bills!!!) VOILA! you are in NYC rent free.
Umm.. yeah, great idea.
Just put this in your profile: 22 year old recent college grad looking for 30 year old doctor chick live-in girlfriend to move in with in the next 4-6 weeks.
It's worth paying for a place you love, considering you'll probably be there for at least a year or two. I might be biased, but I grew up in the city, went to school in the city and now, obviously, still live in the city, but in my opinion downtown (village, soho, tribeca) are the places to be and worth the premium you pay. If you don't have student loans, then you shouldn't be afraid to pay up to 50% of your after tax income for a great place. You'll be able to save money from your bonus and the difference a few hundred dollars a month in rent makes is huge.
I'm in Murray Hill and think its a great place. Living somewhere that allows you to walk to work is also huge. Get 1/2 roommates and you should be able to find a spot in a doorman/elevator building for between 1300-1500 a month if you shop around. Just walk into buildings and you can find a place where you don't have to pay a broker fee, which def saves you.
Trust me, when you get home at 2am in the freezing cold the last thing you want to have to do is fumble around for your keys and then trek up 4 flights of stairs to a crappy hole in the wall. Get someplace nice and enjoy coming home when you finally get to. You can save your bonus.
I can rent a room from family in Queens for $500/month. Worth it?
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