Why "reverse commute"?
Why is it common for people working at Greenwich Hedge Funds to live in Manhattan? I would think it would be more desirable to just live in Greenwich also given the convenience, prestige (high concentration of wealth), and more spacious (+ slightly less expensive) apartment options.
Seriously? Have you even been to Greenwich and Manhattan? Greenwich is a lovely place to live if you're 30+ with a family, especially if you've already lived in NYC for a while and tired of that lifestyle. But if you're young and single and want to mingle with other young and single people, if you want to take advantage of arts and activities and restaurants and theaters, then New York City is the greatest city on earth. Which lifestyle you prefer depends on your age and place in life.
If you want to own; property taxes in greenwich are crazy. Not that ny is cheap but there are a lot more rental options here
BTW, reverse commuting from Manhattan to Greenwich actually isn't as common as you seem to think. Yes, a few people do it; but it is definitely not the norm. On the other hand, commuting from Greenwich (or Stamford or New Caanan, etc) to Manhattan is very very very common.
The "prestige" of living in Greenwich lol...
Unless you're married and have kids, CT is pretty boring. The difference between living and Manhattan and saying "oh I can always take the Metro North on weekends" is massive. It's a huge waste not to live in the city unless you have some deep-seated aversion to urban environments (which admittedly Manhattan takes to an extreme).
My two caveats would be: 1. Don't reverse commute your first year in a new industry. If this is your first year working at a HF, you have a mountain of a learning curve to climb. Throwing in that commute is probably counter-productive. 2. Do think of your long-term plans. Reverse commuting a couple years is fine, but twenty years is a massive amount of wasted time.
As someone currently in their first year at a HF who does the reverse commute for about an hour...
The morning ride on the metro-north is awesome for making it through a big chunk of overnight/early AM research & news flow and since I'm usually the only one in the cab I don't worry if I need to schedule pre-market calls. I've also got some learning material books I can spend time on too.
The majority of the week I catch a ride back in with our CIO/another PM. Few things are as value-add to me when it comes to learning as that uninterrupted hour drive.
I agree with all of your other points, though.
Fair enough. I'm in physical commodities trading which is a bit different, and I don't have anyone to catch a ride home with most of the time.
Where should I live for reverse commute? (Originally Posted: 03/14/2017)
I'm moving up to NYC over the summer to start FT. My firm is located a little bit upstate and I'll have to do a reverse commute from Grand Central every day. Wondering where the best place to live would be at? I've firmly decided against NOT living in the city, but I wanna try to make the commute as easy as possible. Would it be better to live somewhere within walking distance to Grand Central, or somewhere within walking distance to a line where Grand Central is only one or two stops away? Would hate to have to worry about two trains everyday, but I'm open to options.
bump
If you can swing it financially, Murray Hill / Midtown East. It's better to walk since GC is so close and you'll be in a really popular / hip neighborhood filled with young professionals. I.E Lots of bars and hangout spots.
Hmmm...fresh out of college? Close to Grand Central? Looks like Murray Hill is where you are going to live.
You can also consider getting on the train at the 125th Street stop in East Harlem. I know Spanish Harlem has been gentrifying for at least 5-10 years. Or you can live on the Upper East Side.
Manhattan to Parsippany Reverse Commute? (Originally Posted: 08/24/2017)
Hi All,
I have an opportunity with an investment management firm in Parsippany, NJ, however, I currently live in Manhattan and am on a one year lease. I was wondering if anyone has done this commute before and if so is it feasible? I would love to try and make this work.
Thanks.
Never done this but would imagine a pretty aggravating drive during rush hours, are you at least somewhere on the west side to avoid having to go across town? Not sure how NJ Transit would fit in since walking from station to office in the winter would really suck
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