Moving to New York at beginning of the year. Rent is obviously very high, and because I'm off-cycle, don't have the roommate option of anyone I know. For the current analysts/associates, how much do you spend on rent? Not finding anything sub 2100 that is even remotely liveable/ not in central Harlem. Would be open to room mate but not sure where to look. Any advice is appreciated. Thank you WSO.
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Dm me. Looking for 6 months roommate
New member so have to wait few days to DM. Can you dm me?
$2k is a safe amount and you'll have a bit of money left over to travel with, save, whatever. $2.5k is the max on an A1 salary but cash flow will be kind of tight if you have any social life or want to date.
I'd highly recommend finding a roommate... start a thread on here, there are FB groups (mostly girls in there, but you can post looking for guys too). You'll spend so much time at work your first year that it's not worth throwing that much at 1 bedroom rent to never be there. IMO still look in the $2k or a little less range for a 2 bedroom and use the extra money try for a doorman (for packages) and laundry in building - 2 things that make it so much easier when you're in banking
Don't forget the 15% fee on most units (of annual rent, not monthly) and you will also need to have 2 months rent ready to go (first month, security deposit) so start saving up some cash if you didn't already
If you're really against the roommate thing I'd up your spend to $2.5k and hire an agent (basically no additional cost to you - if you rent a fee place, you're paying the 15% regardless, the agent's commission comes out of that unless you find a rare no-fee place). You're still looking at extraordinarily small studios in less desirable areas (harder to reach parts of the east village or small studios in Murray Hill) but there are places to be found, you just need to move quickly
Thank you!
I’ve been looking at that price range for a few months now and didn’t really find anything good. If you want to live by yourself you’ll probably have to spend 2.3-2.5k
You can use facebook housing groups to find roommates, get a nice 2-3bd unit and each pay 2-2.5k but live in a good building
Curious why you dont want to live in central harlem?
Bump
What's the motivation to start in January offcycle? I could do the same but thought it had no advantages besides making money sooner.
Depends what bank but cash flow sooner, potential for better placement, create stronger network, more reps for PE, slower ramp up since no formal training. Also depends on your background. Personally, I've never been one to spend big on vacation, and with inflation, backpacking around Europe or spending two months traveling isn't worth the money. I'd rather spend it on tangible items (clothes, furniture, Bang & Alufsen A9, etc.). It also depends on what you're looking for. I'm excited to start because I loved my team, loved the long hours because it gave me purpose, and there were tangible goals. I'd really say it depends on the type of capital you have to burn while waiting to start and what you plan on doing with that time.
in a similair positon. I graduate in December but my firm doesn't start the analyst training until June-July. they might let me join earlier but I was also interested in pursuing an off-cycle internship(also in IB) in NYC. do you have any advice? and how did you approach this with your team and HR?
Appreciate the response man, looks like it def makes sense for you. Curious why you think better PE placement, is it because your team is more likely to go to bat for you (i.e. team MD knows someone)?
Def relate to the tangible items investment, think its the first time I have seen another person mention Bang & Olufsen on here lmao. I had been just searching ebay today to make a purchase myself..
My advice is don’t be cheap when it comes to nyc housing, just pay to live in a cool area when you’re single. You’ll make a ton over your career, but you won’t be young and single for long.
Sounds wild, but I found my apartment off of Craigslist last summer on the UES fairly large studio and pay 2K obv sucks being uptown sometimes but quick commute to midtown and relatively quiet
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