How much do Associates spend on rent in NYC?

Will be likely starting full time next year and just wanted to hear what single associates spend on rent in NYC if you don't wanna live with a roommate. 

3 Comments
 

Based on the most helpful WSO content, here's what you need to know about rent expenses for associates in NYC:

  • First Apartment in NYC: One user mentioned their first apartment in Chinatown cost $1,000/month, but it came with significant downsides like rats, roaches, and bedbugs. This was recommended for those looking to save money despite the poor living conditions.
  • General Rule of Thumb: Another user highlighted that the general rule of thumb for rent is 25-30% of pre-tax income. For an associate making $275-325k, this could theoretically mean spending $6-7k a month on rent, though it's noted that spending this much might be excessive for a young professional.

In summary, while some associates might opt for cheaper, less desirable living conditions to save money, others might follow the general rule of thumb and allocate a significant portion of their income to rent, ensuring a more comfortable living situation.

Sources: How much do you spend on rent as an associate making 275-325?, Millionaire by 30, Millionaire by 30, How much to spend on rent for 1st year analyst?, 1st year analysts: stupid to move into NYC right now?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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