NYC - Where to Live (Full Time)
Incoming analyst (base - $120k) and as I browse Streeteasy, I am wondering how people are finding 2.7-3k rent even with a roommate. On these forums/social media, it seems quite common that people are paying ~$2k, but I am not seeing that many options. I know it's early to look, but I also heard that prices will increase during the summer.
I lived in Midtown in the summer and would prefer to live in that area since I need as much sleep as I can get, but is paying $3k/month as an AN1 an absurd amount?
Bump
Yes, $3k is actually absurd, and would caution very highly DO NOT pay that if you are an AN1.
what would be the max you would advise on paying
$3k is fine. It’s like half your monthly take home pay, but honestly very common in nyc. $2k per month is going to be a total shithole.
$3k will get you a decent spot outside the super hot neighborhoods
Bump
Hells Kitchen for sure.
more stuff comes online near the summer. It costs money for these places to post on there, and a lot of leases r up in the summer
ive seen so many places for 2k pp granted they are shitholes, but definitely a fat amount of places that would be ~2500 pp. u might just be looking in the wrong neighborhoods
Just want to say it’s absurd that professionals out of college working in one of the most “elite” sectors can’t afford to live solo without major compromises.
Banks need to either increase base so it’s possible or stop requiring such a high density of people in one location…
I don’t think you understand supply and demand. Goldman could pay $90k and there would still be nepo/trust fund types lining up outside to get the job. These are businesses with shareholders and they are incentivized to extract as much as they can out of their employees while dangling the carrot of prospectively making 8 figures annually as a rainmaker MD or in some other managerial position. The reason an AI researcher can demand 7-8 figures post phd is that their skills are actually differentiated.
Don’t pay more than $2.5k.
You don’t need to live right next to your office, just close to a subway that goes to your office.
Most nights you’ll be ubering back anyways, so pick a neighborhood you like (for me downtown > midtown).
Who pays 120k base to 1Y analyst
Evercore
Legitimately so lost on how any of you rationalize spending so much on rent lmao, my buddy and I found a place for sub 2800 all in, proper 2 bed 1 bath none of that flex wall (lack of laundry and it being a walk up are the 2 drawdowns)
can you tell how you found the place?
Craigslist mate, most underrated site
Pro tip from someone who went to school here:
Live away from Midtown on a subway line and you will almost certainly still get good sleep. I live on top of a train line and am 20 mins from my office. Express stops are your best friend. Even late night it is still not a bad idea.
If you wanna save on time, get a bike. Take it with you to and from work if you're traveling at non-rush hours. You get really good exercise and you can do everything else a bit faster. When I got a bike I no longer had to rely on the transit system here and it made everything a bit more fun and faster than fucking walking.
I pay less than 1k in rent due to having roommates. Very easy to find a good deal if you know people. Reach out to your friends who might already be here. Be ready to maybe have to sacrifice amenities that go for granted in the burbs like in-unit washer/dryer, elevators, dish washer, closet space, etc if you pay bargain prices like that. I got lucky.
The East Village, Yorkville, Harlem, UWS north of 96th, Chinatown, LIC, Williamsburg, and Sunnyside are all reachable by train in 20-30 mins. Even parts of Jersey are that close. Much easier to not have to cross a river to get to work but you do what you gotta do.
Paying less than 1k in rent has gotta be an outlier. I want to know whoever you know
Instagram, no joke. We all went to the same school together and they were looking for a replacement of a roommate. It's 3k for a 3-bed with in-unit washer/dryer. My room is the smaller one so I pay a bit less. Totally worth it.
If you know people who have good deals on housing already, talk to them about what happens when one of their roommates moves out. It happens all the time. Check Craigslist too; you get good deals on there every now and then.
It is not absurd. You will make close to 200k all in. You can afford to pay 3k in rent while still maxing out your 401k, saving your whole bonus, and living a high quality lifestyle.
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