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.

 
Most Helpful

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.

 

Dolorem deserunt corporis quas delectus voluptas accusamus veniam. Voluptatibus iste porro amet aut porro inventore.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”