S&T Affordable Rent in NYC
Hey guys, I'm an incoming FT S&T analyst at a bank in midtown (NYC) and I was wondering what areas I could target to rent vs my IB counterparts. I'll have more free time so I'd rather my place not be a shithole compared to if I was working 80-100 hours per week. My bonus will also be less than if I was in IB, so I'll need to save a good amount of my salary if I want to come out with any money after 2 years.
For context, my base is 85K and I plan on spending 1800-2000 on rent. I made a pretty aggressive budget and I would save around 21K-23K after my 1st year (not including bonus). My roommate is working in tech around Battery Park City so we wanted to find somewhere in between Midtown and BPC. Is it possible to get a decently nice place in Chelsea (ideal), Hell's Kitchen, LES, or Murray Hill on my budget? Any shot at a luxury building? I'm betting on coronavirus tanking some rent prices as its impact on the economy progresses. I currently live in another borough so I'm not keen on moving out to a subpar apartment in Manhattan, but saving money is a priority. Any insight would be appreciated, thanks!
Hells Kitchen would probably suit you best - S&T depending on desk you’ll need to be in the office anywhere from 5:45 - 8 am. I would recommend staying on the west side of town. West village might have some spots.
I don’t know much about tech but I imagine the hours start later like 8:30-9:30 which makes a commute down to battery park probably more tolerable. I doubt a commute from Murray hill to Battery park is something your roommate would love though.
Check street easy aggressively.
ALSO - I learned the hard way, have money in your bank accounts, I got the place I wanted but we had to shell out first months rent - security deposit + my roommate and I had to show a combined balance of two months worth of rent in bank account + moving expenses / buying furniture. I spent a lot more upfront than I ever expected vs my time in college living in off campus lots.
Try to get an apartment in Hell's Kitchen that's as close to Central Park as possible. Rent is usually pretty affordable there. Additionally, apartment quality in HK is much better than most parts of the city, and it's conveniently located.
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