How Much Do You Spend On Rent?
I'm a 1st year analyst about to move out of his parents house in a high COL city (think LA, SF, NYC) and I was wondering what % of gross income people are paying in rent, particularly other analysts (but everyone else feel free to jump in). I'm aware that 30% is usually what you're supposed to keep it around, but a lot of times that's not really feasible in high COL cities. For added effect, my salary is below average for my role and city but I have a 100% bonus structure, which places me above average in terms of total comp. Would it not be that irresponsible for me to push my rent costs to 40-50% of my salary or am I missing something? Thanks in advance.