NYC - Rent, Bitches, Spending

What do you more senior level analysts or associates spend on rent per month? I'm going to be relocating soon and getting an idea of spend level. Right now it seems like for something I want (1BR), it would end up being about 50% of my after tax, after student loan monthly pay. Which seems excessive, but I may just not be accepting the reality of NY prices and need to adjust my expectations. On a related note, what sort of premium do (hot) girls place on your spot? Are they disgusted if it's not balling, or do they care about which neighborhood it's in?

Finally, what do you spend a month between eating, drinking, living? I frequently go out and am a pretty frivolous spender, so I have some concerns there. I spend a fair amount of time in the city as a consultant, but my per diem/expense life probably isn't an actual representation of how I would live.

15 Comments
 
IlliniProgrammerAnd better dates too. Sounds like Brady is planning something fun for himself this weekend rather than spending it obsessing over moving to places like Cambridge MA, Philly, or San Jose. Right Brady?

The date with that girl didn't work out. I'm just going out with some friends this weekend. Nothing too amazing.

Don't get ahead of your self. I would KILL to be a student at a certain business school in boston or philly right now.

 

Brady, the goal here is to refocus your energy into making Brady the person he wants to be. B-school is just an accessory.

I raced motorcycles for a while. I defined myself by how well I could execute turns; not whether I was on a 250 CC Ninja or a Ducati. B-school may be the motorcycle but YOU are the rider. Acceleration makes the motorcycle, but your ability to take turns correctly is what makes you you. And on the right course, despite having 1/3 the horsepower, the right rider on a 250 can beat someone on a Ducati.

I am shooting you a PM.

 
Best Response

@josb I don't want to threadjack, so I am keeping the stories to a minimum. Point being that Brady needs to find something to do rather than find an (accessory) MBA to wear. The analogy also applies to motorcycles.

Look, Chicago is an awesome town that has 95% of New York for half the price, twice the indoor space, and twice the outdoor space.

It also has Lake Michigan. During the summertime, Chicago is sort of Midwestern Miami with a healthy work-life balance and a beach 8 blocks away. For just about all purposes, Lake Michigan is an ocean that happens to be freshwater. It's 1000 feet deep, gets as warm as the New England Atlantic gets in the summertime, and you can't see the other side. People in Chicago are some of the friendliest in the country, at least for big cities. Chicago also owns the market for exchanges between the CME, CBOT, and CBOE. New York is small potatoes when it comes to the sheer volume of trades that run through Chicago, and it drives the New Yorkers crazy.

New York has a lot of strong points too. It has a lot of jobs that don't exist anywhere else. It has a very international culture which, outside of DC, other cities don't quite have. It has amazing restaurants. And most people who live on that island want to go places and do things and they're usually pretty darned good at what they do. With the Appalachian Mountains and Atlantic Ocean nearby, there's also a lot to do outside the city.

Both cities have their strengths; my personal pick is Chicago. I think it has a lot to do with my cultural upbringing and thrift.

As for rent/spending/etc, here is how I would price Manhattan for a more senior junior level banker:

Luxury studio (reasonable size)/ walk-up 1 BD: $2500/month. Beer $7 each, cocktails $10-12 each. Dinner at a decent restaurant: $25/seat. Dinner at a nice restaurant: $45/seat Parking: $300/month. Liability Insurance: $2500/year Utilities: Double what you pay in most other parts of the country. Mechanics: Add 30%. Cleaning service: $100 each time for a studio. Clothing: Same price Food/Consumer Staples: stuff that spoils fast, take off ~ 10%, everything else, add 20%. Anything that's convenient to cook (boxed dinners), double the price.

 
IlliniProgrammerThere's a lot of surfing in NY. One of my friends in Brooklyn goes surfing most weekends in the summer. Heck, some of the really gung-ho types have drysuits so they can surf in the winter.

But yes, it's not California.

Never been to NY I was just being a douche but your buddy is knarlier than me. I can't get myself out in the water unless the temps above 45. Then again I've never owned a dry suit, east coast surfers are another breed.

 

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