Is my math right on this?
Just got a job in NYC working at a place that pays pretty well (IB analyst 110k base). My partner works retail and I know that NYC minimum wage is around ~15 dollars / hour. Assuming a 40 hour work week for her, post tax our combined monthly salary is around 8k. We're looking for apartments for around 3k a month (single room/ studio apartment), assuming another 1.5k for expenses we should be able to survive assuming neither of us try to bankrupt the other.
Is my math on this right? Lemme know your thoughts.
Not to sound trite, but those are net figures? $4.5k/mo out of $8k total is brutal. I don't know how you NY cats do that.
Yes it’s all post tax. I think one of my main assumptions is the rest of our savings is compiled every month and there aren’t any like substantial issues.
The math sounds right. It'll be rough, but it's certainly "do-able" with that math.
Does she already work the retail job in NYC? If she's not salaried they will absolutely want a couple of paystubs for her verifying that, not just "yeah I'm gonna find a job in retail... thinking $x for x hours". If she's going to find a job post-move you will be stuck with just your salary as a rental base, unless you have a guarantor
Also, $1.5k total monthly spend for two people is very low unless you are extremely thrifty - it's likely closer to $1,500 per person; just to give you a data point, citywide average COL per person ex-rent was $1800+ in 2021, and that was pre 10% inflation which has really jacked prices in the city. NYC is wildly expensive in every category. Dinner at a regular restaurant can very easily run you $100pp. I assume you're including work comped meals to bring the budget down but I would still bring that number up a bit.
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