NYC 1st year IB analysts about to start, where are you living and how expensive is your lease?
Trying to get a sense of what is fair in this market as my roommates and I begin our search. Thank you!
signing for a place in williamsburg - 3400 total w/ one roommate, so 1700 each. Both of us went to school in the city and wanted to get out of manhattan, so williamsburg worked great for us
Given that u went to college in the city, what would u say is a ballpark figure of ur monthly expenses (groceries, going out etc) just to have an idea.
While I was in school and not paying rent, I’d say I’d usually spend around 800-1000 a month. Changes per person obviously, but I found I could do everything I wanted and not feel restricted on that budget. Obviously wasn’t having super expensive dinners multiple times a week, but never felt like I had to penny pinch whatsoever. Groceries came out to like $350-400 a month for me but that’s bc I like to eat a lot and decent quality stuff, going out id spend another probably $400 a month just going to dive bars downtown (obviously that number goes up if you’re going clubbing every weekend), and then miscellaneous stuff like health supplements, random things to buy etc usually made up the remainder
Living in Hoboken. Sharing a large apartment with 2 other guys. Nice place right on the water. 1250 rent. Will probably have to spend between 6$ and 9$ each way to commute tho.
How long is the commute? I am from Jersey and would be saving a ton if I stay at home and commute.
What part of NJ? Train / bus are the most common ways in. If you are making a lot of dough then maybe ride the ferry
30/35 minutes total
$2.5k in lower Manhattan. If you don’t live in Manhattan during your analyst years, you’re a fucking squid
read this in a valley girl/ nyc transplant girl accent
3.1k LES, 1br. Was a bit tight 1st yr but it’s doable if you’re not spending a ton on drinks
Definitely doable. I am frankly shocked by the number of people living outside of Manhattan and spending a modest 1-2k on rent and living with 2+ roommates. You recruited for a 6 figure salary out of undergrad so use it, having an additional ~25k saved from rent as a 24 year old is not significant.
Future isn’t guaranteed. I don’t want to work long hours just to spend money to be able to work. 25k is a big amount for a first year out of college.
I'd recommend living in Manhattan out of school, until you figure out your favorite areas of the city and where your friends are gonna be.
In Manhattan most analysts live in either LES / EV (downtown, fun, not as nice apartments) or Murray Hill / Kips Bay / Turtle Bay / Hell's Kitchen (midtown, close to office). Theses areas tend to be young and on the cheaper end in Manhattan. I personally went with the LES/EV option and loved it. If you're lucky, you may be able to find a nice spot in WV/GV/SoHo/etc., but its unlikely, so I wouldn't spend too much time looking in these areas. FiDi can also be a good option if you value cleanliness and apartment quality, but the area isn't very lively.
Regardless of where you live, you will almost certainty need 1 - 2 roommates. On spend, I would not go over $2.5k per person and would recommend you keep it closer to $2 - $2.3k. In this job market, layoffs at the analyst level are very real and you should be focused on accumulating an emergency fund off the bat (3 - 6 months of living expenses).
When looking at apartments I'd keep a couple things in mind:
Hope this helps.
Lol, first year analyst and went to school in the city the past 4 years (downtown).
Obviously this is pre tax, and I budgeted based on NYC tax bracket….
Also have saved up quite a bit from previous jobs
Jersey City - Studio - $3.1k
About 2.5k for a really nice rent controlled unit in a white glove building in east mid town. One roommate
Hell’s Kitchen, which isn’t the best area but I found an absolute deal with 2 of my high school buddies where we are paying $1400 each for a decent sized place. Can’t really beat that price in NYC. Not a lot of transportation in the area but I walk most places so it doesn’t matter to me, plus it helps me get my 10K steps in lol
east village 2 bed 2 bath my share is 2100
Would paying 3k as an incoming IB analyst be too much for a 2 bedroom luxury apartment?
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