Is it absolutely insane to pay $5400 for a 1BR in LES as a first year? Plan on staying for several years, both in the building and in big law for the foreseeable future (I understand the skepticism but have my reasons to think I’ll have some endurance, so put that aside if possible). No debt.

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Yes

like

Yea pretty insane. That’s so much money. I’m a fifth year (so I make like twice as much as you) and my 1BR rent in Hell’s Kitchen is $3300. (Admittedly this is in part because I got in 4 years ago and it’s rent stabilized. But I still wouldn’t pay more than $4K in rent.)

I guess everyone has different values though. I would rather save and get some financial freedom than have a really expensive apartment. But you don’t have to be like me.

like

That’s true yea I think that’s probably what my building is about at now too

like
Recent IconRecent

First - why would you pay $5400 for a 1BR in LES? You could get a 1BR in West Village, Williamsburg, etc. for that amount.

Second - your landlord can raise the rent as much as they want next year, so your plan to stay in the building is meaningless.

Third - You don’t know how long you’ll be in big law, especially in a recession and ongoing decades high inflation.

Fourth - why on earth would you pay $5400 for a 1BR in LES?

likesmarthelpfulfunny

Came here to say this exactly…of all the places to live in NYC, you want to pay that much to live in *LES*?

like

LES is a dump my guy

like

Couldn’t pay me $5,400 a month to live there

like

I mean it’s like 32% of pretax income and the rule of thumb is to be under 25-30% so it’s kinda irresponsible. None of my 3rd or 4th year friends are paying that much so you’d have to stay a long time before that kind of rent becomes the norm assuming it doesn’t keep increasing.

Will you be destitute? Probably not but if you’re the kind of person looking at $5400 apartments as a first year, I think you probably have other expensive tastes that will be hard to satisfy if you’re spending more than half your take home on rent alone.

likesmart

Those are some serious golden handcuffs.

like

Move to NJ. There are commuter towns that are closer to work than many NYC boroughs with far shorter commutes and more reasonable prices. You can get much more space in a new build, a washer and dryer, a million amenities, cheap parking space access, and a pool for far less money than that (about 1/2). You’ll be living like a king/queen in comparison

likefunny

A6 is this a date? 😂 because I’m in

Yes, but you do you

like

The most any of my friends paid as a first year was something like 3500. Taxes / pre-tax deductions will be about half your income so you’re looking at spending like half your take home just on rent. I live in a 2 bed on the UES for less than 5400

like

This. You’re literally paying close to $1000 more than what you make in a single pay cycle

like

The price for LES is expensive. You can get that price for a better neighborhood. I also recommend getting off the summer cycle (if possible)

like

Thanks folks. I’m pretty set on the neighborhood just based on what I’m looking for and obviously the market is a little more intense these days but appreciate the candor and will taper the search accordingly!

like

Near the Christopher street metro with quick access around the city. $5,400 in LES is wild. That’s a fun neighborhood but OP should find a spot for much less

like

Yes

like

Yes

like

Absolutely bonkers. Pay less.

like

That’s a ridiculous price to pay in rent especially for LES.

like

Way too much. My 2BR in one of the glass Williamsburg waterfront buildings is $5900 for perspective.

like

Honestly, I think people aren’t grasping how bad the market is right now. People up thread are still on COVID deals ffs. I think a $5000 apartment isn’t nuts right now. I’m a fifth year and know biglaw associates paying in the $4-5k range

like

5th yr hitting bonus is one thing, first year associate is another. Agree that the market is just plain expensive, but IMO junior associates should still consider (i) studio apt (ii) 2 bed with a friend or (iii) Jersey/Brooklyn/way Uptown etc.

like

Crazy. If you’re going to live alone, get a studio

like

I would not be paying that (or anything close to it) on the brink of a major recession. Hell no. But then again, I’m someone who lives way below his means.

like

Related Posts

What is market vesting schedule for carried interest? Fund-level carry. Curious if our fund is off-market (10 year vest).

like

Anyone have any learning resources they recommend about CDFI’s and impact investing more broadly?

Got my first job working retail! I'm so excited. I'm only 18 and I know it's not that much but I'm happy that I get to earn my very own money.

like

Any of my Pennsylvania colleagues had any luck defeating a timely invoked and pretty well written intentional act exclusion to an insurance policy? Big policy limits and girl’s gotta pay her rent!

like

Bear financial peeps to follow on Twitter. Go.

like

struggling to find a decent sized house in DTLA or surrounding areas. What are everyone’s thoughts on Granada Hills/Porter Ranch area, (For context we’re a young couple, from NJ with two kids, so looking for a slower pace of life)?

funny

You guys know about AI trading system? It’s actually the most efficient way to trade right now. Everyone in it is actually making over $1500 — $4000 weekly

like

Thinking about moving to a big city with the following preferences. I am thinking about Dallas, philly, or Chicago. What’s your experience living in those cities? Is there any other city I am missing?
1. Growing economy and population
2. Great food scene and things to do as a young professional
3. Relative LCOL can’t afford housing in NY, SoCal, etc.
4. Diversity of culture especially a bigger Chinese presence

like

I'm joining Cognizant from HCL Technologies .... Do I need to transfer any PF amount? I don't have any knowledge on this? Can you help here?

like

Has anyone successfully gotten UI benefits? Would love to chat if so. Filed mid March, mine is still in pending status, got one random payment two weeks, and nothing since. History shows no payments have been made. Losing my mind a bit 🤪

like

I have a whole life insurance policy for my young kids. Feel like I’m getting fee’d to death. Anyone have thoughts on this? Is it better to just invest in stocks and take my lumps with the market?

like

Curious what people’s best trade was? Good timing, catching a top/bottom and selling the top/bottom, DD that turned out well etc.

Here’s mine: I had a perfect entry into TSLA 800c on backrest of the triangle breakout in September. Sold my calls at 1,100 for a 3,200% gain in total from the various expiration dates (I had 1 month and 3 month till expiration).

like

Is FXIAX good for Roth IRA?

like

Spent the last year working for $12 an hour
Realtors have told me they were not giving me any more business

likehelpful

I have my Masters in HR and my PHR but I don't think HR is for me, or I may not have the confidence for this role. I want to quit my job and live off my savings which can hold me over about 6 months, but then what??

like

Realizing that Spreads are better play than straight up calls or puts. I had a put debit spread for aug 20 SPY sold 435 c and buy 438 p. Bought back my 435c for +20% and letting 438p ride. Is there any best practice to chose the width of the spread?

like

Is it possible to make a million in any sales position? I see so many classes and books on how to be a millionaire by selling. Seems like BS.

likehelpful

Can anyone tel@l me how to invest in gold or silver.? I plan to sell my house and I want to invest the money in a relatively safe but lucrative investment.

like

What eft or stocks are you holding in your 401k?

like

More Posts

Here looking for words of encourage or advice...
I'm 3 weeks into a new job (new company). I am being pulled into so many programs and literally have no idea what is going on. There's endless acronyms and terminologies that I haven't ever heard of and trainings on top of that. Need to do basic onboarding activities before their deadlines. Still working to understand how I can add value this early on, especially in team meetings where they ask everyone to speak.

like

Anyone take advantage of an “attorney” or “professional” mortgage loan program when purchasing their first home (requiring little or no money down with no PMI)? If so, which lender did you use?

likesmart

I feel soooooo sleepy WFH. Can’t focus much in the video meeting, can’t concentrate on getting things done.

Do you have the same issues? Any suggestions? Thanks!

likehelpful

have always been interested in healthcare consulting but got an opportunity to go into tech consulting. how can i leverage this? ik tech and data is super big atm

Any contact of HRs/recruitment agencies that does hiring of security professionals in UAE? TIA

like

Hi Fishes, as a SAP ABAP Consultant with 9 yrs of exp, what would be a good and market inline package for me now?
Present CTC is ~15 lacs.

like

Does anyone have leads for a recent MPH Epidemiology grad with 0-2 YOE to get into consultant roles in Healthcare/life sciences?

Second question: what sort of work experiences are companies like flatiron and komodo health looking for to work in RWE/heor? I'm not sure how to leverage Epidemiology to get into that space :(

Hi Forks,
We are the new age start up company, we need a trainer for Fullstack Developer software for our organization I.e., Mypp It solutions Pvt Ltd
Do let me know
Or ping me on my WhatsApp
+ 91 9959572272
@MyPP It solutions Pvt Ltd for Hyderabad location.

1 YOE B4 as SA. what are my options?

like

Hallo Berater in Deutschland

like

If money didn’t matter, what would you get between a fiat 124 spider and an Abarth 124 spider?

likefunny

I'm a Kanye supporter.

likefunny

Are the standards for what makes a black man or woman an attractive person for a potential relationship or marriage material the same for white men or women? Do we judge all 4 groups (black man, black woman, white man, white woman) the same?

like

Any idea on when will Infosys Start their offices in Noida?

like

Hi guys , had joined in June as a fresher and been doing shadow work since two months. When can I expect my first project? how much time did it take for you to get your first client?

like

Guys suggest me the best desktop monitor to connect it with my laptop for work ?
I am looking for 32 inch screen. Any options ????

like

Silly question but want to confirm - for Columbia J Term timing, folks that are applying now / did already this past summer that is to start January 2024 right?

likefunny

Anyone knows what’s the total comp for a senior consultant in financial services at Accenture Dubai ( 5 YOE) ? Thank you

like

Starting at Bain out of undergrad in a month.

Plan to recruit for PE and maybe GE.

Anything I need to do? Currently thinking:

do a PEG rotation after 6 months on the job, do it for 6 months ( 1 year if I don’t hate it). Learn to paper LBO, take a modeling course for real LBOs.

Anything else? Do consultants recruit in their second year of the AC program (compared to bankers’ first year recruiting)? Do I need to network like for undergrad roles?

like

Curious how you would rate your firm for POC.

Additional Posts in New York Big Law

Redline v Blackline - what’s the preferred nomenclature to help a foreign import not look silly? The lines aren’t even black!

like

I’m hoping to work in NYC biglaw after a state tax clerkship, and graduating cum laude from a school ranked in the 90’s, with a few corporate/transactional internships. Decent chance?

like

It seems pretty common-place to not leverage offers from outside firms with your existing firm in this industry, and instead simply give your two weeks and move on. It is damn expensive to replace associates! Why is it the case that we don’t leverage for ourselves more often?

like

Anyone with insight on Long Island firm Moritt Hock Hamroff? Salary? Culture? Etc.

likesmart

Ny courts just postponed everything

like