How much do you spend/plan on spending on rent? I am planning on a 1 bedroom somewhere in Murray Hill or Kips Bay but am not sure if spending 3,200-4,000 a month (with fiance) is crazy or normal.
Thanks for any insight!
| +67 | Are we doomed with this debt? | 50 | 7h |
| +54 | Girlfriend found my UBS badge. I told her I was cheating. | 5 | 19m |
| +21 | What portable monitors are you guys actually using and would recommend? | 4 | 1d |
| +11 | Anyone still having issues with Microsoft Outlook? | 2 | 17h |
| +6 | Honeymoon Length | 6 | 2d |
| +4 | I want to work for Google | 1 | 17h |
| +4 | Jensen Huang resignation | 7 | 9h |
| +1 | The Hottest New Lucrative Career that Makes you Billions | 1 | 7h |
| 0 | Jensen Huang | 1 | 8h |
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.
If she’s splitting with you then it’s fine
If I'm not mistaken, the typical rule for rent affordability is annual income/40. So if you're an analyst making 100k, you can technically afford 100k/40=2,500. This works for combined income too, so if you and your fiancé make 160k combined, you can theoretically afford 160k/40=4,000. The catch is that you typically don't include bonus into your calculation, just base (because bonus isn't guaranteed).
Very helpful - thank you
Agree with the above, $2,500 is the typical number for single analysts. Your application won't get accepted for anything more unless you have a guarantor - they won't look at bonus until you have a few years of tax returns to prove it.
Add in annual/40 of your fiance's salary to get to a total budget. Assuming your fiance is working, $3500-4k is reasonable.
Welcome to New York, $3500 is a super luxury 1 bedroom in any other city and a medium sized, non updated studio in NYC
Est consequatur veritatis exercitationem eos autem hic. Sint vero vel omnis repellendus. Et illo quo eius unde aliquam.
Consequatur ut voluptatum omnis veniam. Et esse et eligendi iusto commodi aut alias. Et cupiditate dolores mollitia voluptas vitae quos quod tempora. Voluptas officiis perspiciatis autem enim vel voluptatibus nemo.
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...