Hi All,
I'm currently in college right now, and I was just wondering how many finance people actually are able to own a place in the Hamptons. And if so when in their career are they able to do so.
Thanks!
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The Hamptons are actually not a real place. Can't even find it on a map.
It is high finance code for underground sex dungeon parties.
high finance code
I'm 34 years old. One of my buddies from high school, also 34, works on the Street. He owns and lives in Manhattan Monday through Friday. He also owns a place in the Hamptons he bought at age 32-33 and lives there on the weekends. He has a wife and two kids....so I guess its obtainable around that point.
Well if it’s a timeshare, the other owners got royally fucked, since he lives there full time now, since COVID hit
Hamptons are fake news. It's the little Santa Claus story that MDs tell their associates and analysts. "Murder those 80 hour weeks and someday you too will have a spot in the Hamptons."
Despite what some people are saying the Hamptons are very real... If you save during your summer analyst program, most people are able to afford a modest home (think 12k -18k sq. ft.) during the 2nd or 3rd year as an associate.
.
Maybe in the 80s the Hamptons were real; back in the good ol days of greed and Gordon Gekko. Now it's nothing more than a Timeshare cesspool.
You aren't OWNING a place in the Hamptons unless you're Global Head of [insert group here]
it's all about ack man
Big facts
By the time you can afford ANY $5m property, you'll probably be old and annoyed by the people that go there to party. If you're in college, focus on getting a job in NYC that can support you summering near the dope bars first. I've only gone for long weekends but there are guys that drop like $30k for a summer. Must be nice.
There are lots of properties in the Hamtons that don't cost $5mm. If you want a home that might be in a movie, or a mansion on the beach, it's gonna cost you eight figures. But there are small-lot homes away from the beaches which can be bought for under a million dollars.
Why the fuck would anyone want to summer in the same place as all their coworkers? My family has been summering in an off-the-grid compound in southern Maine since 1902 and the Hamptons can suck my dick.
Is your last name Bush?
Or Kennedy?
Kennedy's are on Cape Cod. I've never spent time in the Hamptons, but usually spend some time on the Cape every summer, it's amazing.
Because you can't drive out to southern Maine every weekend from NYC?
Damn cuh
You can own a beach house in Spain or Florida (with recent trends it might not be the case anymore) for much less money.
Just a thought....you probably only want to own a weekend getaway when you get to the point in your career where you can actually get away for the weekend on a regular basis....
Not if the point of the weekend home is just to flex the fact that you have one.
I have a house in the hamptons and have gone there every summer since I was young.... mostly finance parents and old money out there. It’s nice but it ain’t all that’s seen in the movies. For the true experience u also need to join Maidstone/Shinnecock/etc which is a lot more competitive
And since I know u will be curious... my parent is CIO of a 10B+ HF/PE fund
Cool!
LOL
Wow, thanks for the insight! Now we know who you'll never be able to live up to.
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