Why You Should Leave NYC After Your Analyst Stint
Truth: Regardless of title, you are a W2 employee living a middle class lifestyle.
As long as you're living in Manhattan, you will be confined to a sub 1200 sqft apartment for the rest of your life. Analysts are sharing 600 sqft apartments with 1-2 people, paying $2500 each. Seniors get to have the "luxury" of dropping $1-2mil on a 1000-1300 sqft apartment that is basically the same quality as many of the analysts' apartments except with a couple more bedrooms and space. Even if you splurge on a ultra high-end apartment, you will be, by no means, living in a 5 bedroom brownstone in the Upper East Side next to Central Park, per say.
At the end of the day, you are working hard at 42 years old to come home to a modestly sized apartment, waking up to the sound of car horns, looking from your bedside window at the wasteland of trash bags that occupy the sidewalk, all while paying 50% of your annual comp in federal, state, and city income taxes. And if you realize NYC is not worth the tradeoffs for the reasons listed above, you earn the "privilege" of spending 2 hours of your day commuting into the city - most likely either on a bus or subway since driving your own car would be a hassle. Also keep in mind, adding 10+ hours in weekly commute time is a surefire way to drain what's even left of your personal life. No time to eat dinner with your family. No time to see your kids. Just commute, work, commute, sleep and then cross your fingers that nothing blows up during the weekends. What a prestigious life you have!
Your currency as a senior is weaker than you think in NYC.
The relatively high concentration of generational wealth (F500 founders, inheritance money, and internationals) in the city will greatly devalue the strength of your paycheck (compared to other U.S. cities) and kick you to the curb in terms of what you can afford. Rather, you will forever be a risk-averse slave sweating 60+ hours a week so you can send your kids (who are growing up in a yardless 3 bedroom apartment) to private school while your own life voraciously passes you by. And even though you are making a lot of money "on paper", your responsibility has skyrocketed as you are expected to perform against likewise sweaty people who have sacrificed their own relationships, quality of living, etc., all for a relatively small amount of post-tax wealth compared to the city's top 1%. Yet it's too late to start your own business (and spend your time on more meaningful projects) or take a pay cut at a corporate job because you've already locked in your $3mil mortgage. Welcome to the rat race.
Take the Redpill and get out before its too late.
This could be partially avoided if banks would allow employees to work from home / remotely outside of NYC. But given the strong push to return to the office, I can't help but think there's a much better way to live life that doesn't involve "NYC" or "Wall Street". Sure, branding your resume with "Goldman Sachs" or "Blackstone" greatly helps build your credibility / earnings potential when you're 22-26 but what the hell are you doing here after that? If you still plan to be a W2 employee, go back to your hometown, be with your family and friends, live in a low cost of living city where every dollar you earn goes a long way. It's not how much you make, its how much you keep. Nobody cares who you work for. You aren't going to look back at the extra time you spent in the office to clear that marginally bigger bonus (of which you'll hedonically adapt to), you'll look back at the times you spent with your family and friends, so why are we not prioritizing that?
yup
Agreed.
A little over the top imo. There are plenty of reasonable hours jobs on Wall St, and you can live in BK or Queens and have tons of space. Just need to find your niche rather than grinding away at BK or whatever
Quality areas in Brooklyn are the same, if not more expensive than Manhattan so that's a wash.
Queens can easily be a 50 minute net commute if you want ample space in a quality suburban spot.
And in both cases, you're left holding the bag paying an extra +6% of your annual wealth in city income taxes.
Extremely based post. I personally am in this situation commuting 50 minutes and paying extra taxes and am miserable given the commute but living in the city is also soul sucking on your wealth Thoughts on LIC? It’s about a 15 minute ride into the city
Quality areas in Brooklyn are the same, if not more expensive than Manhattan so that’s a wash.
Queens can easily be a 50 minute net commute if you want ample space in a quality suburban spot.
And in both cases, you’re left holding the bag paying an extra +6% of your annual wealth in city income taxes.
And there’s no free lunch at the top on Wall Street (IB/PE/ST/ER/HF). Even if hours are less (which they usually aren’t by much given that you’re “always on”), you’re likely going to be on the road volumes more than the junior level so that bleeds arguably more into work life balance.
When you start referring to Queens as a "quality suburban spot", you've officially been living in NYC too long. Place is a shithole compared to most suburbs around the country.
I'm in my early 20s, and I definitely plan on moving out of NYC and settling down somewhere else by the time I'm in my early 30s, and hopefully I'll have a good amount of money by then to do so. I think NYC (manhattan) is one of the best places to be as a 20-something single guy in finance, for reasons that can be found anywhere on the internet, but definitely not a place to stay long-term. I don't mind renting out a sub-600 square foot place with a roommate paying 2k+ because tbh I'm barely in my apartment anyway, and it's great to surround yourself by people who are much better than you and hustle. But again, not a place you'd want to be after you've grinded your 20s away, fucked around, and now want a more calm and comfortable type of lifestyle
Edit: Also ofc depends on the type of jobs you can get in NYC. I was lucky enough to land a role at a company that pays well, offers free lunch, and very good wlb (20-30 hours/week)
Curious as to what kind of position has this type of WLB? Looking for something similar down the line
Agreed. Build up a solid wealth base in NYC and then move downstream to a more chill city with better wealth preservation policies
Go to New York to get rich, leave New York to stay rich.
That’s just false. You can get rich way easier living in a LCOL city with a high finance job
You would be surprised to see how few well-paying high finance jobs there are in LCOL cities, and subsequently how tough the competition is for those few jobs. Way easier to get a 200k+ entry-level high finance job in NYC and live with roommates to save money. I spend a max of 3k per month and I’ve been pretty comfortable.
This is the way
I’m only in my first year in my career and I’m already fantasizing about moving down south to the suburbs, getting a house so I don’t have to piss away money on rent, living in an area with good public schools so I don’t have to pay for private school, and reaping the benefits of lcol. I really hope these years I spend on the ib grind in nyc can really pay off.
Agreed with all except the public schools. Don't send your kids to the indoctrination camps no matter what
I went to a public school my entire life (private school was too much money for family) and the most I heard about modern day politics was watching the presidential inauguration. Granted this was some time back, so maybe things have changed, but media also does tend to stretch the truth at times.
I will say though some of the books I had to read as required curriculum were definitely X rated … I definitely support putting controls on this to an extent. There’s an age for everything in life and some of these books were better fit for an older age.
NYC is good when you have time and money. as an analyst, you don't have either, so you ain't living NYC life. it makes sense to spend your analyst years somewhere like Chicago and save some money, and then move to NYC in your 30s when you have savings and spare time to go out and have fun.
Not in investment banking, but this is exactly my plan haha. NYC is my favorite city in the country, but just can't fully enjoy it out of college. Really would prefer to start in chicago. Chicago has its issues (especially heightened after the riots), but still a great city where you can have a good quality of life out of undergrad.
Chicago is underrated on this site.
Tons of young people, tons of nightlife, tons of fun in spring/summer, much cleaner and more affordable/comfortable than NYC.
Is it NYC? No. Most people think that's a bad thing, but I've found it's a good thing.
Chicago is insanely underrated compared to NYC for analyst-associate years (maybe even beyond as well). I lived there for a year in a 700 sqft studio in a doorman building, full amenities (gym+pool) and paid around $1800/month. For that price point in downtown/midtown Manhattan right now, you'd be living in a 6th floor walkup with cockroaches. Can't understate how much this improves your quality of life. On a banking salary, you can afford to live very comfortably here your first year out of college. In NYC, I saw people throwing half their paycheck to live in flex bedrooms. The difference is really night and day.
Also, crime is a complete non-factor for any of the neighborhoods where finance professionals would live in Chicago (except for the Loop. The Loop is a shithole, and I can't understand why anyone would willingly live there). I'm certain that none of the people who perpetuate this myth online have ever lived in Chicago.
Based
I'm sorry, what does this "based" that everyone keeps writing mean?
Left London after my analyst stint to move back to my home city. Got a good job in a satellite office of a big fund. Have a 3 bed house in a good area for which the mortgages costs less than rent for a decent 1 bed apartment in London, work 40-50 hours a week as there's minimal finance culture here, and have access to a lot of good outdoor activities on the weekend. The likes of NYC / London etc are great places to be in your 20s if you want the finance lifestyle, great nightclubs, wide selection of restaurants, surround yourself with similar people, deep pool of desirable jobs etc but if that isn't you I'd recommend making the move out. Everything is a lot cheaper and WLB tends to be better.
In Europe, do you need to speak local language to do this?
Or some people like nyc and accept the tradeoffs (some people don’t want a huge house, etc). Your views are a bit extreme, but in general I agree that being in a LCOL will help you build wealth faster and can be very beneficial for many (in addition to the fact that many people are blinded by the nyc lifestyle). It’s all about the reasons you chose a city (similar to a career, etc), you need to be realistic about what it is going to be like.
All that being said, there are many success stories and the finance path can (and does) lead to real wealth. I feel like I’m mentioning this more and more (usually have to go the other way) but the opportunities in finance are real and lead to real wealth. Sure you need to be a top performer, but for those who do well, the lifestyle you describe isn’t anything like what reality is. If I had listened to this advice I’d probably be in some smaller city pulling in $200k or so (that’s probably the path I was on when I was younger), instead I’m living in a city that I truly enjoy (and don’t want to leave) making many multiples. Even without the money, I enjoy the city, but I do admit it would be much tougher to justify (retirement/financial independence vs the city, I choose financial independence)
It is good to make sure people understand the reality of the city, but this isn’t black or white, people have preferences and many like city life.
how old are you
Mid/Late 30’s and life is nowhere near middle class (unless you have some very warped perceptions of the middle class).
I appreciate your points and would like to highlight that people who prefer the city life are doing so mainly to their detriment of building wealth, maintaining a healthy life balance, and raising a family in a comfortable setting. Leaving NYC certainly isn't black and white between going from a small apartment to "huge house" (its far more comfortable and intelligent to live in a decently-sized house for most)
Maybe, just depends on your lifestyle choices and what you want for your family.
I am raising a family in nyc and don’t think I am harming my children in any way. Maybe I could build more wealth elsewhere, but I also don’t need it.
I grew up in a suburb and I saw the harm that can also do to a family (rarely any diversity, very narrow education). That’s not to say it is always like that, I’m over generalizing it, but there are problems everywhere.
I believe my family has more than what they need to be successful and happy (and I do too). You can make a whole lot of money in this field, I’m not worried about the taxes, etc
Unfathomably based post
You can find a spot in Long Island that’s ~30 minutes to grand central on the LIRR (supposed to finish that extension later this year)
the only decent places (that have good schools), 30 mins on the train are Garden City and Manhasset really.
go see how expensive those areas are.
and garden city, which super nice, is bordered by hempstead. hope you enjoy paying 1.4 million to live right on top of a super ghetto area (forced to stay in your tiny upper middle class bubble town).
manhasset is even more expensive.
anywhere else on the island is like 45m plus train ride away (which makes it over an hour door to door) for the privilege to deal with insane weekend traffic that causes your 5 mile away errand to take 50 mins. need to leave the island? guess what, hope you enjoy driving the cross bronx expressway or crossing over staten island (2 of the worst drives in the country for traffic).
Well I was actually thinking about pre-family so like late 20s (27-29). There are some cheaper places to rent like the good part of valley stream which may not have a great school system, but if you’re renting and pre-kids who cares? You can easily get a 3 bedroom with a yard for ~3k a month with a 30 minute commute to grand central.
It’s unbelievable the amount of cope from some people. Every decision in life has trade offs. Living in NYC vs LCOL has both pros and cons. So many of my friends want to believe so hard that I’m constantly dealing with the cold, rats, and paying 8k/month for rent when it’s just not true at all and completely overblown.
It’s sad, but remember these boards are frequented by young kids who didn’t make it. So they have to do something to make themselves feel better.
The only cope going on here is trying to justify that working your life away as a W2 employee to fund a 1000 sqft apartment is a more fulfilling/happy life than the alternatives.
A wise analyst a while back once said "you are a loser if you can't land a job in NYC after you graduate but you're an even bigger loser if you never leave" and I think that's especially true to think about why NYC has such a high attrition rate.
NYC is certainly an incredible place to start your career and life experience in general but there's significant diminishing returns after 2-4 years in the city. If you were to extricate your pay and apply it to any other city (outside SF and LA), your quality of life would be volumes greater. Having high pay in a lower cost of living city is superior for building wealth and raising a family, neither of which are ideal in NYC.
Why do you think there are so many LMM PE shops in "Tier 2-3" cities? Why are seniors working fully remote in different cities? Do you really think you need to physically eat rent in NYC to have the same career opportunities these days?
Well I agree with you about leaving NYC eventually being smart rather than living there long-term, but at least in my case, there are quantitative hedge funds and HFT’s that only have locations in NYC and pay out of the ass, while my rent is less than 2k, so it’s a good deal for me to be here for at least a couple more years.
Dude wrf are you going on about?
You have all this anecdotal evidence about people living in tier 3 cities and loving life. And you keep saying w2 employees, umm wtf do you call other people working in other cities?
You don’t work 100 hours after you make VP. No one slaves away at work anymore, especially if you’re intelligent and efficient and have a decent boss.
If you marry well, you’re gonna happy anywhere. If you have a good family and friends, you’re gonna be happy anywhere.
If you don’t like the city, you can live in Greenwich or rye or Scarsdale or Hoboken or anywhere else you want.
And if you really hate it, you can always bounce. But many people like living in tier 1 cities like nyc and San Fran and london and dubai and mumbai and tokoyo.
The only people who randomly bash people and places are the ones who are jealous, so the real question is why are you so jealous? Shouldn’t you love the people you detest are “suffering” in nyc lol?
x
Why did you delete your comment?
Arent you the poster that has continually lied about his wife's income?
this is so true.
I'm a senior associate in a great group. I have a ton of money saved from my pre MBA time.
I have a family so need to buy a home. Its so hard. every semi decent place with good schools is over a million and everyone is all cash (with either family money, or they are truly rich and arent a w2 slave). there's also so many immigrants competing to buy all these homes with their pooled together family money to buy a stakehold here.
and most of these home are door to door over an hour to get to midtown (40 min train, 20 mins of walking on both ends).
just miserable honestly. i barely even want to a buy a home around here due to traffic and commuting times. I used to live in the midwest before and I could drive 5 mins to the office to work. no public transit, just an easy chill drive to a nice safe home with a yard and garage.
thinking about saving a few more bonuses, and hoping we get a 2010 to 2014 bull market run. that might allow me leave the rat race, buy a 500k home for cash in the south/midwest and have enough saved to just get a chill job and relax
You can't just do that now? Honestly asking. You have a lot saved, I'd figure the only reason to try and grab those next few bonuses is so you could stay in the expensive town. Was kind of a plot twist when you said you wanted to save to get to a cheaper region.
want a little more saved up to do that. i want to be able to live nicely in a LCOL area, and not join the rat race again with a lower salary trying to buy a 500k house.
if i save a little more i could be in a decent position to just save all money id normally throw at a mortgage at savings.
Home prices have hit record peaks (only starting to dip). Really not the best time for associate to buy unless he has to buy right now.
I dont think the folks who stay in NYC are 'risk averse slaves' as you say. If anyone is risk averse, it's the one who moves to a 2nd tier job/city and tries to convince himself and others that he really wanted to leave. Can't tell you how many friends of mine suddenly discovered a desire for a simpler life . . right around the time their jobs signaled to them that the next rung on the ladder wasnt going to be so easy to reach. What a coincidence! Suddenly my boy has discovered he always wanted a yard, how about that.
I am by no means saying the big city is what everyone wants. My dad wouldn't live in NYC if he had a billion dollars. All I'm saying is, I see this pattern a lot . . people kind of lying to themselves that they didn't want XYZ when in reality that choice was kind of made for them. Probably begins in the college admissions process, or maybe even earlier in life. I'd encourage people to be more honest with themselves. It pays off in the long run.
Risk averse in the sense of preferring to work as a cog in a big machine with little meaning and not spending your 60+ hour work weeks on something more meaningful like your own company/business with multiples more upside and impact to lifestyle
If someone is moving to a cheaper place to increase his cash burn runway so that he can build a company, that is definitely not risk averse. Agree 100%.
Disagree on the definition of risk averse, for two reasons. It is seen as risk averse to (i) get your hands on as much $$ as you can as early on (optionality) and (ii) it is largely seen as you can always go "downstream" to LCOL area with chill job but not the other way around
Makes sense. But I do think people would stay in NYC a lot longer if they really felt they could go downstream at any time. My sense of it is that they feel its safer to go downstream earlier. Would rather be a junior VP looking for Corp Dev jobs than an SVP. More optionality, better positioned for the senior seat later etc. I like your thinking too, just get the sense that risk aversion is part of what’s pushing people to leave. Maybe just boils down to a fear that if you get kicked out later in career, everyone will know that’s what happened and it limits options a lot. Not sure.
Haha this is hilarious
Living in NY was the best decision of my life. I had more fun in a weekend there than I did in a months where I was before and have now been gone for ~3 months and regret leaving and actively trying to go back
This is more or less the life of the <400k folks out of the 8.5 million who live in NYC. As someone who grew up in the UES with parents earning combined 130k (median household income in Manhattan is around 120k I believe), it is fascinating to me when people complain about stuff being so expensive yet when you take out the 200 dollars I spend each week on drinks plus another couple hundred on restaurants etc., all of a sudden I have a bit more money. The fact of the matter is when you take out all these additional expenditures as you get older, you realize that NYC and in particular Manhattan is not crazy unaffordable if you don't spend 20 bucks a day on lunch (very first world issue to me).
At the end of the day, its all about relative wealth.
Given NYC has a greater concentration of millionaires than any other city, your average successful person clearing $500k - $1mil is going to be living materially worse than their counterpart in a "Tier 2 city", meaning smaller living space, likely no cars, private school/college eating more into savings, and worse relative currency for recreational activities. Not to mention, the culture of NYC tends to be much sweatier than other cities so your WLB might also be less as well (which is a whole other factor to dissuade taking on a role with higher absolute pay)
I think this sub massively overblows the lifestyle components in NYC quite significantly as well. I went to public school for K-8 and then one of the big privates for HS on scholarship/finaid (Dalton/Trinity type). Plenty of kids with parents in high finance/other super high corporate positions in my K-8 school with comparable positions as my high school did (i.e law firm partners, PE partners, IB MDs, corp execs). Not to mention a pretty solid chunk of my HS classmates were from LI/Westchester/NJ and commuted in. This sub makes it seem that every single high earner in NYC sends their kids to privates.
In most cases, I would 100% agree with you. However, I would add that even getting groceries in NYC is annoying as shit....plus cooking in your tiny kitchen is also annoying as shit. Doable yes but even this isn't as nice as elsewhere.
Everyone moves out of NYC. You just have to decide when? I look at even senior people like MDs who make good money getting the hell out eventually. What message should that be telling you? You are going to move out - you just gotta decide if it's at 26 or 50....but trust me, you're not gonna be a lifer in the city.
Very based
Couldnt have said it better myself. Planning on staying until I cash that first Asoc bonus then getting out of the city/rat race. God speed brothers.
This is the fucking move. Agree w u
Some people can’t handle the city long term and it shows
Well yeah, who wants to handle dodging rats on the street and nutcases on the subway in your 40s? Nothing preventing people from living in Jersey or Connecticut or w/e and making the 1 hour commute, but moving your JOB away from NYC of course limits optionality.
People who respond with “you can’t handle nyc” are masochists
I don't understand these posts - it's like you're trying to convince yourself.
Tempted to give my own perspective as someone who has lived in a couple of these tier 3 cities before moving to NYC but you know what? That's not gonna change anything for people who have made up their minds. So, instead I say: Go for it guys. If you find yourself nodding along to this, leave. Go to Arkansas or wherever the fuck. Will lower the housing demand for the rest of us.
What exactly do you figure I'm trying to convince myself of? That I secretly enjoy dodging rats or having someone shot in front of my $5k a month apartment such that I have to show police my ID and step under yellow tape to get through my front door (which happened to me)? I already said having a job in a city that ISN'T NYC limits optionality so not sure where you're getting at unless it's that you have to live in Manhattan until you die (and hope it's of natural causes) even if you can commute in from other areas....
The person is just saying that these posts (especially the way they are written) are mostly useless. People have their opinions and views and aren’t going to change their mind. It’s one thing to have a conversation to understand what attracts people to different areas, it’s another to just speak in absolutes and completely ignore other view points. You have your views and lived experiences, even if people bring up the crime stats, etc you’ll stick to your guns, and that’s ok. It’s just that these posts usually end up exactly like this has.
Someone mentioned this above (think HF guy as well), but every city and every place has its trade-offs. I am currently in NYC in my late 20's and while I'm well paid I do agree that both actual cost of living (rent/mortgage) is insane and too high and makes NYC less attractive to live in. I think my biggest annoyance with NYC as of late post-COVID is that the proportionate rise in both living costs and the extent to which the city taxes its residents has not been met with increases in the quality of that living (deteriorating public transit, rising crime, etc). This is a trade-off that I think many NYC residents will ultimately drive them out of the city - it used to be you paid up for a city that was typically less "dangerous" by large metro-area standards while enjoying all it had to offer (> 2k restaurants, good nightlife, financial hub, and so on).
Everyone values different things. NYC does not make it easy to skate by being "middle class" or what have you, but those that do choose to live here tend to make it work and are accepting that they may just have to spend more on the necessities while potentially sacrificing the house with a yard or the country club membership. Remember that plenty of NYC residents don't have cars/auto payments, so you're making a little back there. I think it's pretty extreme to knock NYC in a blanket statement - coming from a massive critic of NYC and someone who's actively debating leaving for somewhere in the South constantly. I am the first person to criticize NYC and have spent my entire adult life & career here. I also don't have a family and find the costs to be unbearably high.
This all said, moving down to Charlotte or Atlanta or Nashville likely comes with 1) less pay, 2) less "to do," and 3) less career opportunities. Less pay is common but not always the case, but there was a time where regional IB guys would get paid less than their NYC counterparts on all-in comp, not sure if this remains the case today. Less "to do" is just a very difficult comparison as NYC offers nearly anything and everything you could possibly want to spend your free time doing - again this is not to say that if you really enjoyed golf that Charlotte is maybe a better choice for that specific interest. Third the career opportunities are also dramatically different, NYC still is a financial hub and therefore firms still exist here in a pretty large capacity. This is changing due to tax reasons but I wouldn't be surprised if the cost of living in cities where large financial firms migrate to end up catching up over time... think Miami / West Palm.
The point is, it's unfair to make a blanket statement bashing a city when everyone values different parts about their lifestyle. If everyone solely valued saving as much $ as possible and could find a great MM job in a tier 2/3 city, that's certainly a viable option if you don't care as much about what NYC has to offer. If you want to stay in NYC because that's where your firm is headquartered and you see the LT path to creating more wealth in NYC than you do in other cities, that also works. I think the top performers in NYC just tend to have a higher "wealth ceiling" than those in other cities, and while that gap used to be wider and is narrowing with firms moving to other places I would say that still exists for the time being. The WFH/remote work argument is tricky because although it tends to lead to higher worker happiness and flexibility it also results in declining worker productivity and a lack of professional development, mind you it also increases rents/home prices as people tend to need more space.
This is not to say that NYC doesn't have an insane amount of problems and that I find it frustrating to live here, I would just say it's exacerbated post-pandemic and has been trending in the wrong direction but that everyone values different things when it comes to deciding on where to live.
Make your money up north, spend it down south. I agree with OP, but you do have to understand that for some people, getting to live in a city like NYC is, in of itself, a luxury. Personally, I'd rather my 2-bedroom, >1,000 SF loft in Charlotte where the parking spot for my Tacoma is complimentary with my $2,200/month rent. But to each their own. For some merely living in NYC is a greater luxury than a big, suave apartment in a less expensive city. That starry-eyed feeling of "Woah...I'm on WALL STREET" only lasted a year or two for me. COVID was the death-knell. Living in NYC during that period absolutely ruined the magic of the city for me. I don't think I would go back for $1M a year.
Agree with some of OPs points (leaving by analyst seems extreme...seems more like leave before you have a family based on your points). Also understand other ppl's points about the attractiveness of the city. Everyone can make their own tradeoff
One thing I think should be mentioned too is that it will never feel like enough in NYC. You move into a nice 1 br at $6k+/month you will want a nicer place with a patio or an extra bedroom / office or to buy a place. What used to be fancy nights out at good restaurants or clubs that cost $100s suddenly become routine rather than exciting new events (at least for me). You'll want to get out of the city more weekends and go to the Hamptons or Europe etc
Some ppl find the nightlife or "scene" exciting for their whole lives which is good for them but from my perspective trying to keep up with everyone will leave some ppl unsatisfied and wanting more while also being a very expensive lifestyle
I agree with some of this but also see the same happen in cheaper areas. I have friends in Chicago, Miami, charlotte, etc and you hear about the country clubs they need to join, the bigger house, the expensive hobbies, etc. Easier to get carried away in nyc, but a friend of mine owns a 5500 sq ft house and doesn’t even have kids yet. Some people will just spend to the limit regardless.
Why? For the prestige i do it all for the prestige so when the bagger at the grocery store is slow i can tell at him “do you know who i am? I’m an analyst at Lazard pick up the pace”
My advice to this is look for nice up and coming tier 2 cities like Atlanta, Austin, Charlotte etc.
Get your money up brokie
Ive never lived in NYC. So my opinion doesnt matter. But what’s the alternative to this? Im in CRE. but depending on your job, work at a fund in upstate or find a town in the NE and blast your resume to REPEs?
This sounds a lot like Central London
I mean y’all did vote for this…
"Charlotte"
Don't want to live in car centric hell hole suburbia. I went into finance so I could escape it...
Agreed 100%. I plan to be in NYC for the first 5-10 years or so to launch pad my career, but I'm definitely heading the fuck out after that and going to Chicago. It may not be Texas or Florida, but Chicago COL is still far better than NYC. Property taxes are dog shit though. I really hope Miami or Tampa is built out as a real financial hub in the next 10 years. Firms need to get out of this NYC only mentality
Ya idgaf. The taxes are just the subscription fee I pay to be around a truly global and educated population. None of my Indian/Asian/Jewish friends would ever move outside NYC/LA/SF for the same reason. No amount of $ is worth feeling isolated
Well said
Quo temporibus quisquam debitis quod qui tempore sequi. Eum debitis dicta eligendi et minus et quam.
Enim dolores dolores voluptatem natus vitae eos. Quo odio blanditiis a consequatur nemo ducimus quos. Eum laborum libero quis dolorum molestiae. Voluptatem et non voluptatem inventore. Eligendi labore in consequatur nulla. Esse laudantium ipsum vitae magni dolorum expedita a quasi.
Quia vel culpa alias dolor architecto qui doloremque voluptatum. Et et ut quia quibusdam magni. Reprehenderit facilis ratione est facilis quod omnis eum. Officia explicabo itaque aut non qui corporis.
Ex sed et doloribus expedita. Est vel facilis quo animi minus molestiae ipsum. Ex velit velit magni ut consequatur.
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...
Vitae rem numquam quis saepe dicta autem. Magnam facilis excepturi et. Quis aut fugiat quia. Qui voluptate itaque est veritatis quod dolorem officiis.
Sit pariatur ex doloremque odit excepturi quis totam. Quod assumenda est vel ad. Ad fugiat amet qui voluptas at voluptas.
Similique ut vel fuga excepturi corporis eos voluptate placeat. Ut accusantium iure voluptas nisi quaerat sunt deserunt. Quia commodi consequatur tempore ut maiores.
Qui similique sint officia soluta ab. Dolorem dolorum dolores occaecati quia quos. Saepe doloribus atque earum officiis minus voluptas. Id voluptatum fugit fugiat.
Architecto est laborum et molestias corrupti dolores dolores. In sapiente aut dicta est. Ea quos possimus eum minima illo occaecati animi. Ex ut omnis reprehenderit et consequatur ea. Natus id sed impedit est beatae.
Possimus neque fugiat quidem assumenda dolore perspiciatis qui. Est quis consectetur exercitationem eos omnis sunt voluptatibus. Consequuntur qui numquam ipsum dicta consequuntur magnam. Doloribus iusto facilis sunt error quia. Totam dolor consequatur veritatis et quasi. Ab voluptatem quidem ad. Fuga rerum delectus et voluptatum.
Tempora quas aliquam corporis quaerat consectetur dolores. Inventore blanditiis est similique quia sit alias nemo. Sequi eius a voluptas minima sit. Deserunt velit dolore tenetur recusandae velit.
Veniam rerum aliquid itaque vitae et quibusdam qui quia. Ab natus dolorem qui vel est officiis quia. Quidem atque nihil sint in illum quas voluptas. Delectus neque id ad vitae.
Repellendus rerum sint ipsum est sint impedit. Voluptatem iure voluptatum fugit.
Possimus animi ex et optio quasi. Nisi quo aliquam expedita animi modi excepturi in. Atque animi aut minima maxime. Autem quis modi mollitia rerum dicta officiis sed.
Accusantium perferendis recusandae qui necessitatibus qui. Delectus omnis culpa error iste amet repellendus sequi. Eum sit maiores qui odit. Sunt quasi temporibus aut. Ut tempora est est dolor.
Id aliquid architecto adipisci accusantium non minus. Quis aut rerum praesentium qui similique commodi fugiat dolores.