LA: The next best transition from NYC?

I'm sure most of us are working here in NYC. NYC is great and all, but have you started thinking about what comes next?

How many of you want to move on from the city and see what else is out there? I've been thinking about LA a lot.. and I think they offer two different, but great, lifestyles..

What are your thoughts on LA after a few years in NYC?

 
SumOne:
TopChedder:

I can't think of a better major city to work for at the moment than Toronto. It's safer than Chicago, cleaner than New York, and had been/continues to be a booming city.

Winter in Toronto really is far worse than in NY. I really like Vancouver, but wouldn't be able to deal with the winter and I already hate winter in NYC.

The average low for Vancouver in the winter in the winter is above freezing and the city receives less annual snowfall then NYC. It just rains a lot in the winter. The summers are dry and much more pleasant than NYC which gets very hot and humid.

 

Getting around LA is super frustrating - it's a cliche but it's true. The weather is gorgeous, but personally I prefer San Francisco or San Diego (the latter is small, only recommended if you really want to downshift).

 

LA also has a ton of PE shops around if you are interested in that after your banking stint. In regards to Toronto, isn't it hard to land good PE jobs? Almost every friend I know that are top students in top Canadian schools would choose to work in the states rather than Toronto.

 

I second San Francisco. LA is a classic case of urban sprawl. It goes on forever. I don't live in NYC (I'm in another large metro area) but just visited my sister for a week in SF. She moved from NYC. SF is smaller than LA but is still very diverse. The geography changes quickly, and so does the vibe of the city as you are walking through it - both in positive ways IMO.

The Bay Area is a really beautiful part of the country.

Array
 
Best Response
VanillaGorilla:

The Bay Area is a really beautiful part of the country.

I would say the bay area is THE most beautiful part of the U.S by far. You just can't beat its unique geographic setting of the Pacific Ocean on the one side and the bay on the other. The view along Interstate 280 are highway One are both surreal, with the mountain rangess and nature preserves throughout all the way down to Santa Cruz and beyond. It is truly a road tripper's dream come true. Plus the weather is naturally air conditioned year round. Just the perfect medium and never too cold or too hot.

Spending sometime in the bay area is enough to turn even the most hardcore Republicans into bleeding heart environmentalists. I know it did to me haha. Plus if you work in finance in SF then you also enjoy the added benefit of being not the most hated and despised group by the 99%, as that honor now belongs to the techies.

Right now SF is in the midst of tech bubble 2.0 which, along with years of scarcely any new constructions, has made it the most expensive place to live in the U.S. When this bubble goes burst things may become a bit more normal out there.

Too late for second-guessing Too late to go back to sleep.
 

SF/ the Bay Area is definitely better than LA for finance. It's probably #2/3 (think Chicago is probably bigger, but not sure).

That being said, it's still a HUGE step down from NYC in terms of how much finance is getting done there. It's a bit amazing the degree to which NYC is in a league of its own with respect to certain 'city' things in the U.S. (population / density, diversity, food, finance come to mind).

 

LA is a great place to hang out but the driving/traffic/spread out nature of the city is horrifying as are taxes in California. It's definitely a place I'd go, but it's not ideal. If you like warm weather, I recommend Dubai or Hong Kong.

 

Drop some Dubai knowledge on us. From what I've heard, at least in consulting roles, the pay was actually lower in comparison to the US. Not sure why though - is this true?

Dubai is in the top 3 on my travel destination list.

Array
 
VanillaGorilla:

Drop some Dubai knowledge on us. From what I've heard, at least in consulting roles, the pay was actually lower in comparison to the US. Not sure why though - is this true?

Dubai is in the top 3 on my travel destination list.

Dubai is a great place to travel for vacation, I highly recommend it. Just avoid the summer months, as it's way too hot from around April through September. October-March you're golden.

In terms of salaries, I don't know about consulting, but most firms in the UAE pay globally competitive rates, but of course you have taxes of 0%. Also, SWFs and other top places to work provide housing, etc., on top of the standard comp. Even for an American (who still has some bill back home), you save a huge amount in taxes. I know a few guys over in the gulf, they're doing quite well.

 

Dicta et rerum sint. Expedita maiores nisi autem est. Sed maxime temporibus omnis.

Praesentium nesciunt nemo perferendis. Ipsum ipsum quia et ut.

Eius vitae vel unde sint. Sit architecto tempore ut omnis placeat in. Quae quidem eligendi beatae exercitationem. Et molestiae quis quos nemo voluptatem nobis.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
kanon's picture
kanon
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”