Good entry-level salary for someone living in a big city?
Title says it all. By big city I mean NY, SF, Boston, etc. So what do you think would be considered a "good" entry-level salary? $60k? $70k?
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this is for IB? I thought with bonuses you should be hitting over 100k?
I find it incredible that base salaries have been unchanged for 5 years
60-70k. Lol @ you may need roommates. You WILL need roommates on that. OP didn't say this was IB.
70K+ is a good realistic goal for a first year analyst. Don't expect to have much left if you don't get a good bonus.
I've seen people live in NYC out of school making 30k a year
This, people on this site are so this site are insane sometimes. Majority of the people who live and work in Manhattan do not make $70k base. You can easily live in Manhattan on much less, nevermind Queens, Brooklyn and all the other options.
$70k is a GOOD entry level salary, OP isn't asking about what's livable.
What would be the take-home income for $70K? I used a calculator and it said $50K, minus housing that can be $1500-$2000*12 months = $18000-24000, student loans, utilities, neccessities, transportation. It doesn't seem to me we have much left for disposable income
Some people would prefer not to share 1 bathroom between 3 people.
OP asked what a "good" salary would be, not what the minimum livable salary is.
Jesus really? Every single 2br in good locations I look at is priced above $2500
I live in Chicago and only know the prices here. I know it's cheaper. But how do you guys need $70K to live? I'm just an intern and in college, but I live pretty comfortably with roommates for $600 a month. Food is like $100 a month. I probably spend more on drinks than on food, which I could obviously cut back on. Just as an intern, I make more money than I know what to do with. Are you guys buying fancy cars and shit as soon as you graduate?
With $60k-$70k you can afford to live relatively comfortably and not worry about money when going out and actually taking advantage of the city you are in.
I'm assuming that you're spending at least $1k all in on rent. Of course you can always get by with the bare minimum by sharing an apt with 2-3 other ppl for $700/month, cook for yourself most of the time, and not attend events often but you don't even need a "good salary" for that.
I recommend getting roommates. $60-70k will do just fine.
Friends are in other fields making $30k and they're doing alright (sort of).
Define "big city." There's a huge COL difference between SF/LA and Houston/Dallas. $60-70k in the latter is a lot of money.
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