NYC worth it?
Was planning on being in nyc after college, for a myriad of reasons that did not happen. In what the folks here would refer to as a tier 2 city now. Cost of living is lower, not surrounded by concrete and trash 24/7, people are generally more relaxed, hours are great.
Have an internal conflict of whether I ever want to go to nyc now but am concerned that I’m missing something by not going. Flip of the coin is I don’t know anyone there that really enjoys it.
Any have thoughts on whether nyc is actually worth it?
It ain’t worth it Chief.
Wow, I totally could have like written this exact post like more than a decade ago! Similar deal, wanted (badly) to get a job in NYC post-grad school, didn't happen, but got good job in tier 2 city. Fast forward, after doing really well in job/life in "tier 2 ville", got headhunted for an NYC role (legit move up all round). Been here (live suburbs, too old for city bullshit) several years. Do I think I will stay forever... no F'ing way, but not sure when or by what exact means I leave either.
So, are you missing something?? Maybe, I now feel like I would feel very unfulfilled life/career-wise had I not taken the opportunity to move for the role. Yet, I had more than gotten to the point where I figured it would never happen (I wasn't on job market at all, total out of blue) and was not trying to make it happen at all. Result, career is miles/years ahead, but yeah, I do feel like I left something behind that I miss (like friends/quality of life stuff). I have zero regrets, and think I would have 100% regretted it the other way.
Anyway, not sure this helps you at all. Just saw the post and really connected with it. I have literally been there. If it is really key to your life/career story to move to NYC or other "tier 1" gateway city, it will probably happen. Being honest, it might be better to go mid-career than early career (this is not easy nor the norm), like NYC much more fun when you are making more and not at the bottom rung of an organization/industry. NYC treats "juniors" like shit, the firms seem to enjoy it and make it like a rite of passage. I got to side step most of that crap (granted, also got to side step some of the big paydays... and big taxes/rents, eh who knows which would have been better financially..).
Bottom line, let things play out, maybe you will get the opportunity sooner than you think. If you feel like you NEED to go, then do it!
You will regret the opportunities you didn't take. It's better to try and see it for yourself than murmuring after decades "What if".
I am from NY so naturally I began working in New York after undergrad. I was recruited to work in another city I had never been to, and I did not know a single person there (Charlotte / Atlanta / Houston). It was a very difficult experience initially because it can be very lonely when you are starting from scratch but if you tough it out for a few months (~6ish), you'll find it to a rewarding and potentially transformative experience for personal development. I liken it to having to having a blank canvas to rebuild who you are from scratch. You can build off the parts of you that you like and cut out the parts you don't. In terms of professional development, it's all about relationships & network and the sheer size & depth of the talent pool in NY is the best. The junior people you cultivate relationships with at the analyst will eventually become MDs and Partners at firms across the US. This will be your deal flow 10 years from now. Eventually you'll decide to move back but you network will pay dividends longer term
"Live in New York City once, but leave before it makes you hard. Live in Northern California once, but leave before it makes you soft."
NY is really fun if you're in your early-mids 20s and social. You'll have unparalleled access to restaurants, bars, clubs, and social activities; and be at most 45 min away from any place in the city worth visiting. Additionally, you'll have a naturally solid network in finance, so if you want to have a career (read 20+ years) doing this stuff, it's really helpful.
It tends to wear on you though. Maybe I'm soft because I grew up in warmer weather, but the winters just suck. You're forced to be outside for a pretty significant amount of the time while it's cold and the buildings acts as wind tunnels against you. As you get older, stuff like bars and clubs lose their appeal, and you have to deal with high rents and taxes for minimal space. Then you have the fun choice of staying in the city while you go through the rat race of your child's education, or move to CT/NJ where you'll enjoy paying high property taxes for the privilege of commuting 3+ hours a day.
My personal advice would be to try to give NY a year or two while you're young, and then decide what you want to do. No FOMO, and you aren't handcuffed to a city/industry/company.
Lived here for six months now as analyst 1 and don’t know what everyone is talking about it being dead here.
Clubs and bars are packed with 20-30 year olds every Thursday-Sunday. If you’re single, you’ll have lots of options even if you never buy a table. Also, for those saying to work in Miami out of college you won’t be able to afford e11even, LIV etc unless you come from significant money and even then every girl in MIA is looking for a sugar daddy.
Go to NYC, work your butt off, network a ton, get trashed/have fun whenever you can and you’ll love this city.
I’ve heard mix things but one thing is true. If one considers himself a gladiator, then why wouldn’t they want to compete in Rome?
Chicago much less stressful yet full of finance career opportunities
https://twitter.com/PeterMoskos/status/1478456322483961857
Crime is about to shoot up even more as new Manhatthan DA won't basically throw in jail thieves, kidnappers and a bunch of other criminals.
As soon as you hear the words ''justice reform'', you should be terrified. It means the libs won't prosecute criminals and if you want to live, you need guns and ammos.
16 years in NYC. Start your career here if you have the option and spend some of your 20s here; it will probably be a fun time and fruitful for your career. See if you're a NYC lifer. For me: the value proposition has gone down aggressively the past handful of years and I'm probably going to buy a place in Miami this year.
After the novelty wears off in the first 5-10 years, you're left with a top-5 most expensive city to live in the US in terms of COL and taxes, but you aren't getting many quality of life improvements for what you're paying. Crazy taxes, long winters, dirty/polluted streets, dilapidated infrastructure, backwards one-size-fits-all progressive policies, and of course prohibitively expensive home-ownership options which makes having a family in Manhattan extremely difficult if you're not netting $1MM+ post-tax.
Housing: Homeownership (condo) in Manhattan is a joke in terms of what you pay vs. what you get. I'm the most financially secure I've ever been and could buy an apartment in the city but it's just not worth it. For the price of a studio or 1BR in NYC, you can have a 2000+ square foot 3 bedroom penthouse in Brickell or Edgewater (Miami) in a new building with tons of amenities. You'll still get to enjoy world class restaurants and a very vibrant nightlife, minus the winters, extortionist taxes, and crazy progressives.
NYC benefits are there's always stuff to do, a new restaurant to go to, a new lounge/bars, sports, etc. The city has an energy that no other city has. But like I said, the novelty wears off after many years and you're left thinking more about how much you're getting fucked financially through taxes and sky-high mortgage/rent just to freeze your ass off for 40% of the year and get told what to do by your mayor/governor who of course know what's best for you.