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Boston is not much cheaper than NYC…
Depends on where in Boston. I unfortunately can't go back and remove the note on HCOL. It is taking away from what I am really interested in discussing "funds job prospects" in those markets :)
SF market is pretty robust but very VC focused. Cooley SF is a leader in that respect (and I believe them to have current hiring needs for midlevels, if you’re taking about fund formation - not sure about deal side work). LA has some PE and some shitty VC but overall not a great market. You’ll save a ton on rent in either place compared to NYC. Honestly my friends in the nicer parts of manhattan pay twice as much in rent as someone would for an equivalent apartment in a nice part of SF or LA. LA housing costs will be a bit cheaper than SF overall (and the rental market is actually kinda dead rn so there could be deals). Besides rent though, everything else costs p much the same as in NYC
Found SF a very tough market to break into. Firms usually only have a few spots and generally prefer a more experienced candidate.
Enthusiast
Kirkland staffs across offices so you can sit in satellites and still do NYC PE fund work. I’d imagine many other firms are the same?
Mentor
LA/SF will be the same COL than NYC. Boston/DC/ and Chicago are not much behind. I’d suggest Miami or Austin for long term. Friends who are midlevels are already homeowners there.
Mentor
I moved from UES to Beverly Hills and then SF suburbs. BH was the most expensive by far, especially once you factor in a car and state income tax. Taking the Florida bar next year to avoid getting robbed by state governments.
In what world are any of those options (except maybe Chicago) low COL? They might be slightly cheaper on the margins but not by any significant amount - it’s not like you’re going to Texas (where you’d have lower COL + no state income tax).
I think dc and Boston are meaningfully cheaper than nyc
I am looking for advice on long term career prospects. Comfortable with COL in those markets. What does the private funds (Not Reg) market look like?
F