NYC or Charlotte and Investment Bankers costs of living in both
I am trying to decide between laterally to either NYC or Charlotte. I have offers at both. Currently working in Dallas and want a change. Also what is the cost of living for each city with the IB lifestyle. Dallas is currently like 65K.
Depends on your career level. New York if analyst or associate, Charlotte if VP or higher. Starting in New York will open up opportunities later in your career and you can always go New York > Charlotte when you’re older whereas much harder to go from Charlotte > New York.
Plus New York is 3x more fun and interesting in your 20s than Charlotte. Better people, food, culture, nightlife, jobs, literally everything. An average night out in east village tops the best night out ever in south end (charlotte’s bar district). Experience that for a couple years in nyc then once you get tired of the HCOL, garbage, traffic, same old bars (a New Yorker right or passage) move to Charlotte to start a family/put down roots, buy a house that will 2x in value in five years, city is growing like crazy, super clean, new, 2 hours to mountains, three hours to beach, just kinda boring and homogeneous.
Do you think NYC is worth it opportunity-wise for an associate who’s 30 and engaged?
Agreed. but we like the homogeny so pls don’t move here
I have my SA stint in CLT, buy I wanted to move to NYC office for FT. How possible do u think this might be?
Congrats on Wells
I’m doing my summer internship in Charlotte right now and it’s truly boring af here. I’m definitely going to try to recruit for the NYC offices for FT. The above comments are correct.
So I’ve lived in NYC and CLT. For obvious reasons NYC has a better social scene. But living in Charlotte for investment banking is a literal cheat code for building wealth. Rent as an analyst at a decent apartment is 1400, and if you want to live in a baller apartment 2k for a 1 bedroom is more than enough. I put a bunch of my money away. The NYC social scene is better, more interesting dynamic people. But Charlotte there is still a lot to do and good looking women.
The truth is, if you’re gonna work 70-80 hours a week why not live in the city where you can save a ton of money so you have something to show for your analyst years. It’s not like you’re gonna have the time or energy to be out every night anyways. Charlotte is cleaner and less crime. It is a city, but sure has a small town feel so keep that in mind. Everybody seems to know everybody.
NYC is nice, but Charlotte I feel you can live way way more comfortably and still save a lot of money. Drinks, rent, are half the price and tax rate is lower.
Most banks pays the same in CLT as NYC from my understanding.
In CLT and paying less than 1,300k in rent (with a roommate) so there's quite a bit leftover even after maxing out the 401k.
Curious about why you're looking to leave Dallas, personally interested in checking it out.
Would also love to hear about the Dallas IB scene. Not too sure about names other than HL and Stephens that have a presence in Dallas…
Jefferies has a strong PCA practice in Dallas.
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