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Honestly you can live in NJ, a 10 minute ferry ride away, for sometimes even 1/2 the cost, depending on where in jersey. You can live in Weehawken or Jersey City in a nice apartment for between $2k-$4k and that same apartment would be $3k-$8k in NYC. Obviously there are less expensive places but you definitely get more for your money in NJ. And the ferry is only $300 or $350 a month (yes it sounds like a lot but factor in a car payment, insurance, gas, and tolls - it's actually cheaper than commuting by car to work). And you still have super easy access into the city, and there's plenty of things to do in jersey too - like Jersey City and Hoboken bars and shops etc.
Winters get cold, but snow removal is really good in NYC so if you're coming from like Boston or Chicago area, then winters aren't nearly as bad. And "cutthroat" culture all goes back to team, group, client, etc. I never thought my group was cutthroat and everyone was super nice. Exit opportunities are 1000x better and you have way more options. If you're in FS it's def a great move.
Pros- huge city with so much to do, bigger/more markets, higher pay. Cons- higher cost of living, cut throat environment, cold/terrible winters (depends where you're moving from)
Tons of opportunity in the city. If you're on partner path then it doesn't necessarily make sense, but if you want to jump into industry at some point there's more opportunities here than literally anywhere else in the world.
No work life balance . Shit freezing weather. Nyc sucks
Continuing off of what I said before, a lot of it depends on 1) where you're coming from and 2) how much you like living in a city. I know several people who moved there from out of state (CT, jersey, mass, etc) and ended up leaving 1-2 years later. Everything is so expensive there, even little things you'd never think of, and it all adds up. Also, the work environment is much more intense than in other places. I know a few people who ended up leaving NYC to move down south because the culture in the northeast can be quite intense. But it all depends on what you're used to and what you're looking for!
Pros:
1. Lots of things to do / new places to go
2. More opportunities - job / dating wise
3. It's just an overall different experience
Cons:
1. Cost of living is much higher than 99% cities
2. Weather (rain/snow) makes it really sucky when you need to walk/bike to commute
3. You will always be late because of congestion/traffic/asshole taxis & busses
@KPMG if you're always late than you should probably adjust your schedule. If you're late everyday you probably aren't leaving early enough.
CH1^ Is that from personal experience having lived there? What sucks the most? I'm thinking with bad weather it may be less of an issue when I'm not having to drive in it but can walk or take mass transit.
Thank you!