Moving to NYC soon and do not want to live with roommates. I'm also flexible on location due to COVID. What's the most I should allocate to rent? What's the post-tax paycheck on an $85K salary?
| +87 | Bathroom War Crimes | 22 | 10h |
| +56 | for you youngins (under 40, ideally under 30), what do you want out of life? | 34 | 53m |
| +41 | We all should've gotten in tech | 28 | 7s |
| +29 | Stealth-Listening Devices | 8 | 13h |
| +13 | Totally random question | 6 | 20h |
| +12 | Companies with products that track terminal/analytics desktop usage | 1 | 3d |
| +12 | Pickleball Manhattan | 4 | 16h |
| +9 | Ordering Valium Online: Key Considerations | 0 | 3d |
| +8 | LinkedIn Shitposts | 3 | 2d |
| +7 | my advisor looks a little too good | 7 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Depends on what you want. Generally 25% to 30% of take home pay is consider normal.
Well the absolute most you will be able to spend (without a guarantor) is the 40x rule (and most places won’t count your bonus as a first year).
So you are looking at 2,125 a month based on that rule unless you can find a place that will give you some credit for bonus.
Then you need cash up front (potential fee, security deposit, first month as a minimum).
I probably wouldn’t feel great spending that much unless I was pretty confident on getting a reasonable bonus, but would be doable and should most be ok if you are reasonable with your money.
You can go a little higher to $2,375 given the 40x rule if you got the $10k signing bonus. All the places I looked let me count it. I wouldn’t spend that much though and prices have dropped a little with covid so you could find a super small studio that isn’t that nice for $1,850ish.
40x is an upper limit. I’ve never gone near 40x. Live within your means
Yeah, not a good idea to max out the 40x rule unless you absolutely have to and its only for a year or two. Life is more fun when you're not spending all your money on rent.
When I first moved to NYC on a similar salary I lived with a roommate and felt comfortable paying $1,400. If you want to be on your own you'll have to pay more, but if I were you I'd try to keep it south of $2K, which will be a challenge depending on your standards.
I had a similar salary my first year in NYC, I was spending $1,850/month with one roommate in East Village. The average for my friends in similar comp levels as me was $1,600-2,000/month, all in decent Manhattan locations (cheaper usually means more roommates).
Fun coupons from mid-month check and rent + bills for end of month check. All of my friends operated under the end of month check goes to rent + bills scenario. Very common amongst the professional crowd during their first few years out of college in NYC.
Assuming no support, anything more than $1,800-$2,000 will start pushing you over this point after taxes and 401K contributions.
Fugit qui quae aut sed ut. Sunt eaque repellat quibusdam molestiae perferendis architecto sed. Nemo maxime error aut rem neque nemo rerum. Et qui natus voluptas ut earum animi et. Soluta et sunt id sed. Cumque ipsa modi id molestiae dolorum dicta.
Commodi at illum natus. Pariatur quas et ea delectus. Quis dicta voluptatem et ratione.
Adipisci quam rem rerum sequi. Perspiciatis ipsum neque labore accusantium. Nulla cum exercitationem ipsam enim quia recusandae provident. Consectetur placeat dolores quia et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...