Incoming first year analysts moving to NYC, how much you spending on rent?
Base is 100k bonus is probably 40-90k so all in comp somewhere of 140-190k. Someone told me to aim for 3-3.5k but I feel like that is pretty high for someone my age
Way too high. Aiming for 1700-2200 each for a 4 bedroom apartment. Also, isn’t that above the 40x limit?
Get roommates @ 2-2.5k each
You won't get approved for much more than 40x rent to income ratio anyways, regardless of bonus expectations.
As everyone else is saying, you won't get approved for more than $2500 max unless you have wealthy parents willing to guarantee you (and help you majorly on cash flow). Landlords will not consider your bonus towards rent until you have 2 yrs of tax returns showing it. Also $3.5k will be like over 75% of your paychecks after health insurance, 401k, etc... recommend you get a rough monthly budget going to figure out how your cash flow will work.
Even $2500 is a lot of your paycheck given how much other things cost in NYC. I'd aim for around $2k +/- few hundred with ~2 roommates.
Lol I pay $2,500 for my rent and get by just fine lol don't know what the big deal is here bro, no roomates either so I work and read in peace, pretty comfy. Make $110k base, parents don't help me out either, thankfully I fall under their family health insurance policy (only issue is I have to fly out if I need something but like I'm 20 something and have no pre-existing conditions or anything, thank God, have never used it). Main thing is that I don't throw money at the 401k or pension or anything because I'm saving up capital for an investment, but even if I did contribute, don't think it'd be much of an issue, I did the math and I'd still have leftover money. Don't go out nor drop too heavily cause I don't have money heavy hobbies, most my free weekends I don't "go out" for drinks, I just drop like an extra $10 on better food but even then lol.
Voluptatem quo expedita eum ut. Rerum non maiores odio provident nisi. Sunt sit perferendis et voluptates. Reprehenderit quia sapiente alias impedit suscipit aut quidem officiis. Nostrum quia sunt saepe repellendus. Magnam cum aut delectus soluta ut.
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...