Save money at home vs move in with college friends?

Hey guys, I'm 22, graduated college in May 2021, and have about ~20k saved up since I started working post grad in NYC. I have been living at home (~65 minute commute each way from home to my job), and I have been working remotely 2 days a week, so the commute isn't horrible. I have the opportunity to move in with 3 of my college friends into NYC (all from same fraternity/I lived with them all already so no issues with roommates). I like the opportunity, but they are dead set on looking for a february lease. I want to move in with them but don't know if I'm fully ready to move out and burn through rent money/doing my own laundry/etc. The flip side is that I really don't see myself in a studio or living by myself, and I also feel I may get addicted to saving money and living at home if i don't take this offer. This may be my only opportunity to find non-random roommates for the forseeable future. What is the perfect balance of saving money and moving out? Is it worth locking an apartment down with college friends now because I'll probably get FOMO in 3 months? I will probably make somewhere between $80-$85k in my job and I believe we are looking at 4 bedrooms between $6,000 and $7,200. Any advice from people who have been in this situation would be appreciated. 

 

Move in with friends. I did in a 4BR in NYC - best years of my life.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Most Helpful

$1500-$1800 to live with your friends is an absolute no brainer. I lived with my parents for 7 months during COVID, saved a lot of money, but honestly wish I spent that time hopping from city to city enjoying life.

Live your life. Everyone pays rent so get used to it. Not everyone gets to live with their friends in NYC.

Array
 

One of the best parts about college for me was living with/across the street from all your friends... I have to plan weeks in advance now to see the few friends who still do live in the same city as me. Move in with your friends and have fun.

 

Libero rerum magni rerum nobis. Qui consequatur rerum reiciendis maxime est magni unde. Eligendi qui dolore inventore dolore ut et voluptatem. Qui et et quis sapiente magnam minus eum. Reprehenderit qui voluptas voluptatum officiis. Aperiam qui et odit eaque et veniam repudiandae.

Aperiam ut id dolores aut quae quia excepturi fugiat. Fugit aut blanditiis et itaque laboriosam pariatur perferendis.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 19 99.4%
  • Lazard Freres 06 98.9%
  • JPMorgan Chase 09 98.3%
  • William Blair 03 97.7%
  • Morgan Stanley 04 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (23) $378
  • Associates (94) $260
  • 3rd+ Year Analyst (14) $181
  • 2nd Year Analyst (69) $168
  • Intern/Summer Associate (34) $167
  • 1st Year Analyst (207) $159
  • Intern/Summer Analyst (152) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”