Chicago or NYC?
I have the option to move to the NYC or Chicago office for my FT role in ER.
Anyone have any strong opinions on this? I haven’t asked (don’t know if I should) to get paid more in the NYC location vs the Chicago location.
I want to make a L-T career in finance. COL is obviously significantly higher in NYC, but don’t know if it matters too much as I progress.
Let me know. Ty.
Dramatically different cities and lifestyles. Very doubtful you will be able to get a pay increase for being New York. I’ll pro-con for you:
New York:
Chicago:
My 2 cents, they are very different, but you could move to either pretty easily. If you are financially conscious, NYC is a terrible move. I think you should value Chicago versus NYC living at + 24k pretax earnings. But, you pay for that with bad winters, a suboptimal city management, and less things to see.
I saved basically a down payment for a house by living in Chicago from 22 to 26. My friends in NYC didn’t, but they wouldn’t trade the experience of being around the most busy city in the country for their 20s for any amount of money.
That was incredible thank you! Any insight on a lateral to a hedge fund from either city?
Will depend on function/ your profile as a candidate/ what type of places you target. What I will say and repeat because I think it is interesting and counter intuitive:
These forces work against each other and can make good candidates stick out easier in Chicago. Depends a lot of factors, but it can be easier to break into places in Chicago because it’s just harder to find smart people with great backgrounds. Firms often have to be less choosey.
Agreed with almost all of this.
Chicago food scene is world class, yeah not as big nyc. Less breadth but still amazing.
Dating scene once again not the same as nyc, but a very good scene. Pools from all big ten schools.
The COL adjustment over 5-10 years is a phenomal wealth builder if you can stick it
NYC
Reason?
Take the city you enjoy spending time in.
COL is a massively overblown concept for several reasons, primarily two:
1. It doesn’t apply to a huge % of your income. It only applies to what you spend.
2. The more expensive place is also more expensive for a reason. It’s not like you’re getting nothing in return.
Chicago and NYC are both great, honestly my two favorite places and I’ve spent a lot of time in both. If I were in your shoes, I’d have a hard time deciding and it would come down entirely to personal factors like family and which office has better people to work with.
With all respect to other commenters, I disagree strongly with the view that these are dramatically different cities. Speak to people who really know both and I think they’ll tell you the similarities are high. Someone mentioned girls . . spend some time in Lincoln Park and tell me the girls in Chicago aren’t up to par with NYC. If anything it’s better because they congregate in a concentrated area.
Best advice I can give you is respect your gut instinct. If spending a few days in one be the other just feels better for reasons you can’t quite explain, it’s prob the right one.
Never been to either - going with NYC
Appreciate the advice! Is COL really not that high? Relatively
In my opinion I think New York is the way to go, its called the Big Apple for a reason. Chicago is a great city with plenty to offer but from my experience, the opportunities in NYC are 2nd to none regardless of your job. The people you meet and the networking opportunities can open doors for you throughout your career that you simply can’t get elsewhere.
Picked nyc now need a roommate…
My roommate and I are currently looking for a 3rd roommate to move into our apartment. Let me know if you're interested, the apartment is near Madison square park in Manhattan, no brokerage fee…
Chicago.
NYC is just too expensive.
I’m looking to lateral FT to Chicago after doing 2 SAs in NYC and spending over 10k on rent for 20 weeks at NYU dorms which are shared bedroom apartments
Just not worth it imo, I wanna be able to save at least 45k a year, not possible in NY
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