Looking at rents and units as an incoming analyst got me thinking - how much would you pay for an extra hour in a day to do anything (sleep, exercise, eat, work(wtf?))
Kind of a thought exercise to help me understand also how much I should be willing to pay more for a place that basically saves 40 minutes of commute everyday.
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Based on previous WSO threads, the value of an extra hour in a day can vary significantly depending on individual priorities and circumstances. Here are some considerations to help you determine how much you might be willing to pay for an extra hour:
Work-Life Balance (WLB) vs. Earnings:
Commute Time:
Hourly Rate Calculation:
Personal Priorities:
In summary, the amount you should be willing to pay for an extra hour depends on your personal priorities, the value you place on free time, and how it impacts your overall well-being and productivity. Consider these factors to make an informed decision.
Sources: Do you ever stop and think if the hours are worth it?, Interview Questions: Tell Me A Joke..., Work/Life Balance - Hours, BB SA Overtime Pay Confusion?, Q&A: Former MBB Consultant
I guess theoretically over the long run it should be equal to your LT average hourly comp because you could forgo that and just consume leisure if you wanted to, to get the extra hour anyway
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