Tax rates for 2020 NYC IB Analyst at 44%??

Have heard the number 44% thrown around when talking about taxes that get taken out of NYC employee salaries in finance. For a starting IB analyst expecting to make around $120-$180k all in for the first 2-3 years, is this really reasonable, even if you do include federal, state, city, SS and the like? That just sounds out of this world and I'd be pretty much breaking even after 401k contribution and paying living expenses.....