Worth It: Moving from NYC to SF/LA?
Happy Saturday y’all. Currently on my 5th weekend “exception” to work in a row at GS and haven’t ever wanted to leave more. I was hoping to get some insight from those who have made the transition form East to West coast. For context I grew up in New England, went to an Ivy and am currently working in NYC. I feel like I know the east coast like the back of my hand, to the point where I can give people driving directions down to the exit number on the highway.
In recent weeks I’ve had a lot of recruiters reach out and almost every follow up inquiry began with “what sort of fund are you interested in, and which locations”. The first is a more straightforward question as it can be researched, and deduced from personal preference and work experiences. However, I can’t really answer “where do I want to live” if I haven’t lived there for at least an extended time right? It’s like the kids who did a study abroad semester in Florence and when they come back they dip their Pepperidge farm bread in fuckin olive oil. How have those of you who have gone through this process thought about this question?
A lot of my peers before me stay in NYC and I don’t know if I’m chasing a false sense of novelty by trying to leave. I think the most frustrating thing is that in my limited amounts of time off, I find myself repeating the same activities: brunch, bars, museums, Central Park, a mutual friends house party. Part of it is the fact that Manhattan is only so big and consumerism is what drives most entertainment, but do people working in finance in other cities do those same things? It would be nice to have a car, drive somewhere on the weekends and see a place not named the concrete interstate highway jungle which is New Jersey. Do people say in LA go to the beach on weekends? Maybe a drive up the pacific coast highway? I genuinely would just love to know how people spend their time differently out west vs on the east coast. I’ve visited California a few times with family but I don’t think tourism is the best judgment of actual professional life.
Any feedback or insight is appreciated. Now back to this CIM….
As someone who grew up in the UES, maybe you would get a bit more out of NYC if you left Manhattan and checked out the other boroughs because based on how you talk about how NYC gets old with the same activities, you seem like one of those people on tiktok who don't go above 14th street/only hang out and do activities with other transplants within the transplant specific neighborhoods. Being from New England is not the same as being from NYC so maybe actually exploring the whole city will make it seem idk not repetitive and more enjoyable.
I left nyc for sf. Best decision i ever made
Chiming in - I moved from Chicago to LA (currently in PE). I find the quality of life much higher. My weekends typically include things like going to the beach, hiking, golfing, exploring neighborhoods of LA, trying new restaurants, and various weekend/day trips (Malibu, Orange County, Palm Springs, San Diego, etc.). Generally, there's a greater emphasis on outdoor and/or day-time activities vs. strictly evening eating/drinking, though there's still plenty of restaurants, rooftop bars, house parties, etc. if that's your thing.
Worked a few years in NYC before moving to the Bay Area. IMO its the best decision that I've made. The culture in CA is much different than NY and is more chill and less-"assholey". Especially if you're interested in TMT investing/sectors there is no better place to do it than in SF/LA.
In SF, its very neighborhood dependent. It seems a lot worse bc the city is geographically tiny, so while in nyc/chicago the shitty neighborhoods are a few miles away from the good ones, they're very close to each other in SF. Police presence is strong and I haven't felt any danger on the west side, noe valley, marina, cow hollow, russian hill, or north beach. Stay away from civic center, tenderloin, and SOMA. Mission has killer nightlife, but its a little grimey so if you don't want to see homeless at all I'd stick to the north side of the city. You'll likely work in FiDi, and as people return to work it'll be cleaned up. Violent crime is rare, but property crime and car break-ins and bad throughout the city. If you're in your 20s, you wont need a car so just get an e-bike and make sure to only leave it locked, in safe areas.
Dating here sucks though, so if thats important to you I'd head south to LA.
Totally disagree with not needing a car. One of the best things about living in the Bay Area is weekend trips to Tahoe, Carmel, Wine Country, etc. If he is feeling trapped in NYC, a car in the Bay Area is the perfect next step.
get an early brunch in santa monica then drive up the pacific coast highway for a day trip to santa barbara, or hike in the redwoods in marin, and you'll realize why california is so expensive
I left NYC for LA and am unequivocally happier as a result. I drink less, exercise more, have more freedom to do activities and go to places. I go skiing, golfing, national park, or to a new beach town at least two weekends a month. I am a less than 10 minute walk from the beach and can surf or play tennis after work (I end at 3pm PT). COL is marginally less which is a nice plus.
Making friends without a pre-existing network can be difficult, but it was well worth it. Homelessness is an issue but much better than SF.
I grew up in LA, went to school in DC and have spent many, many long weekends in NYC and still travel there fairly frequently, mostly to FiDi. So not going to claim that I know NYC in and out but I do have a finishers medal from the NYC Marathon ;)
LA definitely has a different vibe and its just "easier" to get things done in NYC. It feels like in NYC, no matter what you need to do, you need to "know a guy". You want your car fixed, you need to know a guy. You want some good custom shirts, you need to know a guy. Want your water problems fixed, you need to know a guy. NYC is just a little more connected that way whereas in LA you just go out and do whatever it is you need. Plus in LA you have so many more options for weekend trips. Vegas, San Diego, Santa Barbara, Palm Springs, etc are all very reasonable drives and has options for all budgets. Plus really, everyone should experience the open desert at least once in their lives - its an experience like no other.
I will echo some of the above though that LA has had a massive surge in crime and homelessness. My last trip out there was to Beverly Hills (I used to live there) and you're seeing things there that would not have been allowed just 5-10 years ago. And I'm talking about staying in the BH triangle, one of the richest pieces of real estate in California and, arguably, the world. It's a problem in LA that is now truly out of hand.
It's a tough decision to make for sure but I think that even if you did it for 2-3 years, it would be hard for you to regret moving to LA for a period of your life. NYC will always be there if you choose to move back.
I live in NYC. Whenever I need to find a professional I just go on Yelp. What is this about needing to "know a guy?"
Mans living in a Seinfeld episode
I spent 2 years each in NYC and SF before moving to LA (have been here for 7 now) and could not be happier. I really did not like SF, just nothing about it was a fit for me. I get why people like it but to me it was all the hassle of NYC (Crime, homeless, expense, etc) with none of the benefits (dating, nightlife, functioning public transit, etc.). I never had a car there so honestly my life there was just a shitty NYC with better weather. I have been to Napa, Tahoe, Carmel, etc more since I moved to LA as its easier to fly and rent a car than to get there from SF when you don't have a car. Most people who had cars were paying an arm and a leg for decent parking or were getting their car broken into once a month, just did not feel worth it to me when I was only going to use it a couple of days a month. Some thoughts on LA living and working in finance below
1. LA is huge and different areas have very different vibes. Santa Monica and Venice are very different than Beverly Hills and West Hollywood which are different than the South Bay (Manhattan, Hermosa, Redondo Beach). As things can be very spread out where you live is important so do your homework on the area before deciding on where to live. Personally I don't see the point of living in LA and not living by the beach but that is just me. You are going to get a lot more bang for you buck in apartments especially on a per sq foot basis. You can get a pretty nice place in a good area with roommates for $1500-2000 a month depending on location and amenities. $3,000 gets a pretty decent 1br. You won't have a fake wall and you won't be sharing a bathroom.
2. Traffic is real, I would highly recommend living close to work, and getting a car that can go in the HOV lane, will save you a ton of time. Also if you are considering a firm that is downtown ask to be paid double b/c downtown LA sucks. It has made a ton of progress pre-COVID but it all went backwards. The only reason to be there is to go a sporting event or concert.
3. The nicer areas where someone working in finance would live are generally pretty safe and outside of Venice and parts of Santa Monica don't have a ton of homeless. I don't know anyone who has ever had an issue in all my years there. Nobody lives downtown, especially post COVID.
4. I have found it really easy to meet people since most of the people here are transplants and did not grow up in CA so everybody is looking to meet people. I came here with zero friends and made a ton very quickly and easily. I would recommend living with roommates at first even if you don't know them just to help get a lay of the land and make it easier to get out and meet some people.
5. Lots of outdoor activities and everybody is doing them (skiing, hiking, golf, tennis, volleyball, surfing, etc), another great way to meet people. Also you are a quick plane ride or drive to pretty much anything you want to do so its very easy to get out and see a lot of things. If you like to ski you are a short flight from all the best skiing in the US. There are so many very easy weekend trips you can do.
6. LA finance is a pretty small world, but for the most part its a no assholes policy, most people here have left NYC to come here because they hated that mentality and just won't tolerate that sort of thing. The people who are like that tend not to last out here and will go back to NYC, but for the most part you are buying a one way ticket since the lifestyle is just so much better that people can't leave.