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You can. You get roommates, and sacrifice space or amenities. Meal prep, happy hours, and proper planning and it can definitely be done.
Queens or deeper Brooklyn will be cheaper.
Fwiw I did it on about the same salary and lived in LES with a roommate. Walked to work and almost everything most days which saved me $100/mo
I made less than $50k in NYC (in 2012-13) w student loan debt. Fishbowl is full of consultants —- the average salary in NYC is less than what you will be making. The most important thing is that you do your best not to be burdened with rent that is too high. Het roommates and/or live in Queens or deep BK in a rent stabilized unit. You can have a great life on this salary in NYC.
Living in deep Brooklyn / Queens is the answer.
I would set expectations with 1hr and be happy when it’s better. Commuting in NYC is also a bit chaotic so I’d +5-10 mins on what Google says for the real door-to-door time.
Yes, I made 42k my first year. I shared an apartment with several college friends in Brooklyn.
Pro
I made 59k my first year in nyc as a audit assistant. Paid 1600 in rent with one roommate.
Pro
She paid 1900 for the “real” room. She went thru a sudden break up and desperately needed a roommate. I didn’t really care that first year, ok with the flex room.
How old are you? Living on the cheap and commuting long distances would be painful if 30+. Totally fine in your early/mid 20s.
I’m 26
Yes, you won’t be buying out the bar or eating at STK nightly. However, at 60 k you will get to enjoy going out (eating /drinking) and paying rent(with some roommates). If you’re frugal even save a small small amount
Chief
Would also recommend looking at upper Manhattan. Washington Heights area
I lived in Washington Heights. Would not recommend. Only so many times you can be woken up in the middle of the night by a police raid across the street or waiting for the subway and see a homeless guy carry a hammer or have to run into a bodega to escape a crazed unleashed pitbull before you decide risking your life isn’t worth the few bucks in rent you save.
It's hard but it's doable. Live in deep Brooklyn (I used to live in bensonhurst) and rent could be around 700-900 for a bedroom. I cooked at home and bring lunch to work to save money and was still able to contribute to 401k.
D train is about 45 mins to Soho and 1hr to midtown (runs express in Manhattan)
I've lived on $70k when I was starting out in my post-undergrad role in manhattan a few years back. Definitely doable, just need to prioritize your spending and budget well.
Yes, although not bougie obviously. Roommates definitely, people don’t really judge you for it as a junior, it’s normal. Tip: if you do your 401k for the match, do it post-tax/Roth if you can! If not just max out a Roth IRA on your own and don’t worry about the 401k, you’re most likely going to have to jump companies before it vests in order to get to a higher salary faster. You will end up above the Roth salary limit faster than you think if you stay in NYC and are decent at your job. Worth it to budget to put away that $500/mo while you can.
Bronx😎
Take the job and do it. There’s no better place to be than NYC in your 20s. Live in deep BK, queens or the bronx. Drink cheap beer on rooftops with a view of Manhattan. Go to free shows and museums. Subway or walk as much as possible and just take it in. Date someone absurd. Get a part time job if you need it (can always sell feet pics if you can swing it). Welcome. You’ll love it here.
Lived in Hamilton Heights during Grad school 5 years ago. 1200 rent with 2 roommates. Liked the neighborhood equally to Williamsburg where I lived after finishing school. Can recommend for NYC on a budget.
Conversation Starter
This is really dependent on your life style, will you be miserable if you can get new clothes every month? Go on luxury vacay etc. I did manhattan with a roomate in a small apartment (but had living room) on a salary of $50k, I had no student debt but no financial support from parents and paid my own health insurance, phone bill etc. was able to save at least 6% for my 401k
You absolutely can live here with 60K. We have a 40x rule when it comes to housing. That means you have to make 40 times your rent to qualify for a lease or sublet. With a 60K salary, the maximum you can pay is $1500. While it’ll be hard to find a studio with that budget to live on your own nowadays, you can easily find a two-bedroom with 3K in many neighborhoods in Brooklyn and queens and even in some areas in the city and split the rent with a roommate. Most companies have an up or out policy in the city. You won’t be making 60K for that long if you are good at what you do and stay focused. You are a hero on a mission. Answer the call. Pack your bags and take that job in Soho.
You’d be looking at about 1500-1700 bi weekly depending on your inputs
Would I be able to save for retirement?
Pro
^ yes! I didn’t have debt.
Where’s the office? Love queens. If you’re strategic and ok w the subway youll
Be okay
Honestly no