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The words "paying off" were not in OPs post.
I don't think this is possible at big4 until reaching a level of management equivalent to high SM or partner (read: at least 250k). Mid-100,000 does not afford a high upper class life in New York.
Or anywhere
OW1 is right. If both you and SO earn 150-180k then that should be a very good lifestyle in NY. If both are over 220-250k by the time you have kids, it's still going to be great.
High end lifestyle is easier maintained on double income
Helpful, thank you
As a senior partner in Manhattan, yes. As anything less, no.
For a 2 bed apt in Manhattan, nanny, 2 kids in private school, vacations, camp, etc that’s probably $700k. Yikes.
I live in a very nice suburb in Chicago and 200k is kind of the minimum it feels like if you want to have multiple kids and live comfortably (vacations, childcare, summer camps) . I think 250-300 is a lot more comfortable per family especially with 2 or more kids. Which is roughly about 4-5 times the median household income just to put that in perspective.
Helpful
Sure sure.. just depends on how good looking you are and how rich your spouse will be..
SM and spouse bring in $500K+ base and definitely don’t feel like we are living the high life in California. But I also feel our lifestyle preferences are continuously redefined the more we make so, will never feel “comfortable."
That’s an interesting POV SM1
Sounds like hopeless for single parents that makes mid 100k
I’m a partner in Detroit and I wouldn’t claim I live a “high upper class lifestyle”. I am not complaining - I know how fortunate I am. I have a big, nice house and nice cars. My kids participate in expensive sports. We take nice vacations. But I have friends who have actual housekeepers (not a cleaning lady weekly or every other week), $30k handbags, kids in expensive private schools and take private jets. So I would say I’m on the low end of upper class 😊
Family businesses or businesses they started with significant money from their family. Various industries.
Depends on the number of kids and single vs double income. But you probably need to be a partner.
You'd need to be dual income. I am a SM over $200k. I own a small 1 br apt in Manhattan. No designer clothes, no car, no maid. You either need to be in banking with huge bonuses, in strategy or come from money to get a foot in the door
This was insightful
I made $155 base and hubby made $150k when we lived in the UWS of Manhattan. I definitely felt more strapped than not. I’d say to live a “High Upper Class” lifestyle there with all you mention, you need to be pulling in $750k-$1M+/yr to also be comfortable.
Pay off for what? First it’s bourgeois and secondly yes but that’s not exactly ‘paying off'
At what point do you just move out to the burbs and live in a good public school district w/ a nice 4BR house as opposed to the private school/apt life.
No