Is NYC still attractive these days?

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Got offered a banking role as an associate with 2 YOE, but it requires a move to NYC. I know real estate may be a killer deal these days, but is this still worth it? We aren't entirely sure what's happening with the pandemic yet, and lots of spikes in crime still going on. Any thoughts? 

Comments (14)

 
Most Helpful
  • Investment Manager in HF - Other
Sep 16, 2020 - 10:48pm

The biggest question is around when nyc/the country will be “back to normal” (i.e. vaccine or similar). The spikes in crime are WAY overblown (especially in manhattan). 
 

Obviously going out is limited by the pandemic, but still much more active than other places I’ve seen recently. Lots of outdoor dining and people out. I would recommend it, but know that the next 6-12m (depending on vaccine) will be a bit different. 

Array
 
  • Intern in IB - Gen
Sep 17, 2020 - 1:25am

Interested as well at the analyst level. Are things really becoming decentralized to the point where the COL difference on top is enough to rather pick elsewhere?

Array
 
  • N/A in CorpFin
Sep 17, 2020 - 8:57am

New Yorker here. I agree that the crime spikes are overblown and are mostly in neighborhoods you would never go to anyway. 

NYC got really messed up back in March and April, as a result people are a lot more cautious and mask-compliant than elsewhere. We have been rewarded with a very low test positive ratio for several weeks, which is allowing things to open back up (but more slowly than elsewhere). I hope it holds as schools reopen. Spikes in NY are occurring in college campuses north of the city. 

Rent drops are the most pronounced in Manhattan, not so much in Brooklyn or Queens yet. 

 

 

 
Sep 17, 2020 - 9:04am

Completely agree with the above posters. I read the news about crime spikes and whatnot but haven't seen anything or felt unsafe, and I go out every weekend even if its just for outdoor dining, taking a walk, etc. 

I feel like now is a great time to move, actually. You get a less crowded manhattan, cheaper rents, and WFH so you get to save some money as well (transport, laundry, eating out, etc). 

 
Sep 17, 2020 - 9:35am

i have the citizen app, and i get alerts of small violent crime in manhattan multiple times a day (muggings, knife assaults, fights, robberies)....this has been pretty steady the past few months.  As a %, crime is small....but because the population of NYC is so large, it is pretty constant.

 

however, i still prefer NYC over chicago...that place is a fucking warzone

 
  • Associate 2 in IB-M&A
Sep 17, 2020 - 10:44am

Definitely agree. As someone who lives in Chicago most of what is being put out there by media outlets is completely overblown and much of it is being heard about by people who don't understand the geography of the City so they just assume there are shootings all over the city instead of what it actually is, concentrated areas where it's gang v. gang and not random.

 
  • Investment Manager in HF - Other
Sep 17, 2020 - 10:47am

NYC 100%
But I like big cities and love nyc. Even now, I can have a great meal delivered to my door or eat it outside, literally walk down the street to multiple Michelin Star restaurants. Everything I want is still available (although I’m not going to bars). Have a car so can leave the city whenever I want, multiple airports, etc. Yes it is a bit crowded and that can be uncomfortable for some, but if I have the option I would not take a job in NJ, but that’s just me. 

Array
 
Sep 17, 2020 - 10:39am

“I’m not fucking leaving. The shows goes on.”

"Full speed ahead, damn the torpedoes." -U.S. Navy General Farragut
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