How Can Managing Directors Afford Families (NYC)?
Looking at recent threads, it seems like it is almost impossible to plan a family in NYC working as IB MD.
If you are a 50+ year MD at/MS making $5-10M, with insane volatility of earnings, how do you get comfortable with committing to kids/ /family given the high cost of living? This seems like a lot, but when you have a family / kids in NY, it's actually not that much.
Do people just defer families or find partner with a steady job (doctor), while they swing for the fences?
Asking because it seems impossible to to build a family on that peasant salary of seven figures a year in HCOL city like NYC.
How do fellow MDs do it?
(this is an obvious troll post for all of you retards who wonder if two mil a year is enough to survive in NYC. spoiler alert: yes it is and you should get your priorities checked if that's actually an issue for you)