Incoming 1st year analyst in NYC and I really want to live a lone. I'm making $110k base, 10k sign-on bonus, and hopefully a nice year end. What is the maximum I should spend on rent?
| +392 | Evercore Intern Seizure | 60 | 2h |
| +78 | JPM M&A is Gone??? Purely Coverage Banking??? | 35 | 13h |
| +57 | How do I understand vs. just memorizing? | 11 | 23m |
| +48 | Losing my personality in Banking | 9 | 1d |
| +42 | Associate & Above IB exits | 18 | 2h |
| +39 | The good and bad with Wells Fargo | 8 | 38m |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 12 | 43m |
| +30 | Tech to IB Pivot | 20 | 13h |
| +28 | Sent my Claude prompt to 200+ Teams chat. MD wants to see me Monday. | 18 | 4h |
| +27 | Which groups are ideal for laterals? | 12 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I’d say max 40% of gross monthly income. Probably better at like 35%. Depends on how much you spend on other things. If you like going out to nice places/vacations then spend less on rent so you could splurge more on that. Remember, rent is the cost that’s impossible to cut back on if you find yourself spending too much, so it’s best to keep that as low as possible if you do spend a lot on other shit.
So my base income divided by 12 is $9166.66 a month. 35% of that is $3,208.33. So if I spend, say $2750 on a studio, I'll be okay?
No, monthly income after taxes and benefits. Will probably be like 6k after all of that. So you should try to only spend like 2,400 max. Welcome to the real world lol
This is incorrect. The "30%" rule is based on GROSS income not net. His math is actually correct for the max he "should" pay on his base. As to OP, I'd say do whatever makes you most comfortable. Your not blowing the money at the club it's where you will damn live. And WFH hybrid isn't going anywhere. Get something decent with some space (hard in NYC I know). I'd say 3k is a solid upper bound.
couple bucks
.
tree fiddy?
Voluptas ea saepe harum delectus. Ea doloribus omnis non aperiam ut. Possimus corporis dolore corporis molestias autem. Voluptas aliquam aliquam quidem iusto debitis.
Ratione enim aut architecto ratione et. Assumenda nihil unde ad ad vel ea ipsam.
Fugit aut eveniet alias id blanditiis. Temporibus eos et aspernatur et aut temporibus dolore.
Vitae ea et illum sit incidunt debitis laudantium sit. Id doloribus id illo nihil dolores voluptas voluptatem itaque. Vitae impedit aut et est id sed qui corrupti.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...