What’s the point of living in NYC for a junior consultant? Is it worth spending a huge chunk of salary to get decent housing?

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Here’s how it makes sense: if you have roommates or your place is small, you might be more comfortable than that now vs. later, when you are older & more discerning. So if you’ve always wanted to live in NY, you could say it’s better when you’re younger. Here’s how it doesn’t make sense: pricey, and if you’re always traveling, what’s the point?

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Growing up, a friend of mine made 2x what I made. He was a consultant in NYC. I lived in the Midwest. He spent it ALL, living the lifestyle. I bought a house, made a family, and doubled my money when I sold the house to go to grad school. We we graduated B-school, our financials were identical. He was still single, I had a family to support Life is all about choices. Think about what’s important to you.

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I live in Southern Ohio with the hillfolk. The upside of that is I pay $1300 a month with escrow for a 4700 sq. ft. house with acreage. The guy above gets it. Figure out your priorities. I decided to stay close to my family and my wife's family at the expense of being able to go clubbing every night Since I'm gone 5 nights a week, where I live matters less.

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You forget just how many young professionals in Consulting have wealthy parents. I can assure you they’re fortunate enough to have that rent subsidized a bit while they “get settled in."

likehelpfulfunny

This is strongly influenced by selection effects — those of us that grew up normally don’t talk about it, those that grew up extravagantly usually have more memorable stories. Not about to be like “hey, let me tell you about how I got free lunch all throughout high school"

Not at all. Save the dough. Future you will thank you

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Living in NYC in your 20s is amazing. Going out there is really pretty unparalleled. No need to deal with a car. Doesn’t matter if your place is tiny because you only really sleep there. I remember my days there fondly, and I made a lot less than analysts make these days.

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Haha. Early 2000s. So iPods! But I was always more into experiences than stuff :-)

You can find a good place for around $1,500 and your salary should reflect the higher cost of living

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Because I love NYC. Also I pay less than 1000 a month...

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ITT I discover I pay too much rent

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The point is exactly that “ living in NY”.

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I love how half the advice is “get a GF (or BF)”. Makes me wonder how many people are in shitty relationships because of NYC rent. Lol

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I’m also asking what is the deal with NYC...what can you do there that you 1 TRULY can’t do elsewhere and 2 can’t do later on when you have more money

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If moving to New York means you can only afford a walk up with multiple roommates, it probably isn’t the right choice for you. Even with a b4 associate salary you can afford something more reasonable than that

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Nope. I live at home right outside of the city and fly out of Newark since it’s about 15 mins away. I go into the city on the weekends and sleep on friend’s couches. Not necessarily living at home rent free though because I prepaid my mom’s rent for the whole year with money saved from internships.

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If your friends live in NYC, it’s so nice to live here so you don’t have to keep traveling on the weekend in order to maintain your social life after being out of town four days a week

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You’re paying to live in the greatest city in the world, with the best of the best of everything at your fingertips. And I don’t pay much more than my friends living in Atlanta, Chicago, etc. I pay $1300 for rent and live in a great part of lower Manhattan

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Truth

It makes even less sense to move to NYC when you are in your 40s / 50s with high school age kids - if not now, when?

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Biggest thing is you wake up on a Saturday morning, walk outside and guess what? NYC is there, enjoy your mansion in Idaho, haters 🙌🏻

likeuplifting

If you go uptown between 60th and 100th on both east and west you can find a 3 bedroom for like 1200-1400 per person. Won’t have updated appliances probably and won’t be a 5 star spot, but you can have the NYC life and not pay 1800+ on rent. People use brokers and try to live downtown and get sucked into fees etc. Cost of living is still really high outside of rent tho.

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D8 they clearly specified a 3 bedroom with several roommates. Obviously a studio is going to be more than 2k . . .

Living in NYC is great when you’re not traveling. But if you travel most weeks, it’s not worth shelling out the high rent

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Currently going through this. Not subsidized, but having wealthy parents eases my fear or need of emergency money. Nowhere like it in terms of adventure, but yea i could be saving twice as much. Leaving to FL when i start making significantly more in 1-2 more years. A lot of people are from boring towns and can use the excitement for a bit too.

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Thank you for this comment! I’ve grown up in big cities and this makes me realize that’s probably why I’m not as excited, and why it may not do much for me in terms of being a super new experience

You can find affordable housing (relative to NYC) if you look hard enough. Lived here for two years and never paid more than $1450

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