NALP Buying Power Index 2011, or, Why New York is Overrated

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dixiecupdrinking
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby dixiecupdrinking » Sat Jan 19, 2013 9:59 pm

I've lived in NYC for years and have taken a cab maybe once every two months. Including when I'm working late, when it's 20 degrees outside, when I'm meeting someone on the other side of town, etc., etc., etc. Really tired of hearing everyone complain about how expensive it is to live like "everyone" has to live in NYC. It's bullshit. Let your budget slide to create the standard of living you think you deserve, if you want, but don't act like it's impossible not to take cabs every weekend.

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ph14
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby ph14 » Sat Jan 19, 2013 10:00 pm

dingbat wrote:
IAFG wrote:Your summer experience is not relevant, and I don't know how dingbat could have been more explicit.

Blessedassurance wrote:being a summer and associate are two different things.

Thanks.

I always love it when I hear how people think they'll pretty much be acting the same way when they're working 100 hour weeks as they do when they're in college.

Until you actually experience the kind of hours that these jobs demand for an extended period of time, you have no idea what it's like, whether you can handle it long term (most people can't handle the grind) and what your lifestyle is like.

When you're working 80-90 hours/week for 2 months straight, you're not gonna sit home and watch TV when you finally have a weekend off. You're gonna take some of that big fat paycheck, and blow it. Whether it's buying the entire criterion collection, going to a show, or a fancy meal, you're gonna end up spending money. When my brother and I went to DC for the weekend, I sprung for Acela tickets for both of us, because there was no way I was gonna ride the bus or waste time on a local train. I've gone to the opera and fuck it if I'm sitting in the back. I took my wife out for a $400+ dinner and ballroom dancing - I barely spend any time with her because of work, so we're not going to Ruby Tuesdays for her birthday.

The list goes on, but, when you're making stupid money and have no life, you end up spending money doing the things you like, and you're not sitting in the cheap seats


That sounds exactly like what i'm going to do after working those kind of hours.

Anonymous User
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Anonymous User » Sat Jan 19, 2013 10:27 pm

ph14 wrote:
dingbat wrote:
IAFG wrote:Your summer experience is not relevant, and I don't know how dingbat could have been more explicit.

Blessedassurance wrote:being a summer and associate are two different things.

Thanks.

I always love it when I hear how people think they'll pretty much be acting the same way when they're working 100 hour weeks as they do when they're in college.

Until you actually experience the kind of hours that these jobs demand for an extended period of time, you have no idea what it's like, whether you can handle it long term (most people can't handle the grind) and what your lifestyle is like.

When you're working 80-90 hours/week for 2 months straight, you're not gonna sit home and watch TV when you finally have a weekend off. You're gonna take some of that big fat paycheck, and blow it. Whether it's buying the entire criterion collection, going to a show, or a fancy meal, you're gonna end up spending money. When my brother and I went to DC for the weekend, I sprung for Acela tickets for both of us, because there was no way I was gonna ride the bus or waste time on a local train. I've gone to the opera and fuck it if I'm sitting in the back. I took my wife out for a $400+ dinner and ballroom dancing - I barely spend any time with her because of work, so we're not going to Ruby Tuesdays for her birthday.

The list goes on, but, when you're making stupid money and have no life, you end up spending money doing the things you like, and you're not sitting in the cheap seats


That sounds exactly like what i'm going to do after working those kind of hours.


hah, same. guess it's different strokes for different folks. my discipline is tempered by the fact that i'm paying 8% interest on these god-awful loans.

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dingbat
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby dingbat » Sat Jan 19, 2013 11:06 pm

Anonymous User wrote:hah, same. guess it's different strokes for different folks. my discipline is tempered by the fact that i'm paying 8% interest on these god-awful loans.

mine were at three point something.... and were dischargeable in bankruptcy

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Old Gregg
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Old Gregg » Sat Jan 19, 2013 11:19 pm

Anonymous User wrote:
Fresh Prince wrote:
food - $300 (dinner billed to clients) (more


This is not happening in NYC.

I haven't met a single 3L who stuck to their budget their first year. Even the one person who I know is sacrificing everything to get rid of their loans will have to take an extra year or two than initially calculated.

In your calculations, you should be realistic, not aggressive.


Probably right. Probably need another $100.


Nope. You should be multiplying your base number by 3.

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dingbat
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby dingbat » Sat Jan 19, 2013 11:46 pm

Fresh Prince wrote:
Anonymous User wrote:
food - $300 (dinner billed to clients) (more
Probably right. Probably need another $100.

Nope. You should be multiplying your base number by 3.

When I first moved to NY and was barely scraping by (bullcrap job), my budget was $150/wk for food and that was barely enough - plenty of times I ran out of money/food and the only reason I managed was because my sister lived in town and I'd invite myself over for dinner.
It was fucking miserable. There's no way you'll stick to that budget, unless your ideal meal is beans on toast or spaghetti with butter and you're ok eating that several meals in a row

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thesealocust
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby thesealocust » Sun Jan 20, 2013 12:02 am

dingbat wrote:
Fresh Prince wrote:
Anonymous User wrote:
food - $300 (dinner billed to clients) (more
Probably right. Probably need another $100.

Nope. You should be multiplying your base number by 3.

When I first moved to NY and was barely scraping by (bullcrap job), my budget was $150/wk for food and that was barely enough - plenty of times I ran out of money/food and the only reason I managed was because my sister lived in town and I'd invite myself over for dinner.
It was fucking miserable. There's no way you'll stick to that budget, unless your ideal meal is beans on toast or spaghetti with butter and you're ok eating that several meals in a row


Learn 2 dollar pizza bro.

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dingbat
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby dingbat » Sun Jan 20, 2013 12:06 am

thesealocust wrote:Learn 2 dollar pizza bro.

I prefer the rainbow room

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Old Gregg
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Old Gregg » Sun Jan 20, 2013 2:50 am

Also, ordering food every night will make the pounds add up quickly. I've qualified for free meals, but turned them down to just make something on my own. Cheaper not having to buy new work clothes for a growing waist size than eating seamless every night.

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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Anonymous User » Sun Jan 20, 2013 5:18 pm

ok so food budget needs to go up... thanks.

what else is ungodly high vs. other markets in my budget? where is this mystical buying power gap arising from that so negatively affects my qol in ny vs. other major markets?

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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Anonymous User » Sun Jan 20, 2013 5:20 pm

Fresh Prince wrote:Also, ordering food every night will make the pounds add up quickly. I've qualified for free meals, but turned them down to just make something on my own. Cheaper not having to buy new work clothes for a growing waist size than eating seamless every night.


This sounds like a cynical argument for why I shouldn't get free dinners to minimize my food budget. There are healthy eating options on seamless and in my firm's cafeteria. I make $2 breakfasts that are ultra healthy and very filling (protein shakes + oats) and can easily get a good lunch meal for $8 or 9 incl. tax.

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Old Gregg
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby Old Gregg » Sun Jan 20, 2013 5:40 pm

Anonymous User wrote:
Fresh Prince wrote:Also, ordering food every night will make the pounds add up quickly. I've qualified for free meals, but turned them down to just make something on my own. Cheaper not having to buy new work clothes for a growing waist size than eating seamless every night.


This sounds like a cynical argument for why I shouldn't get free dinners to minimize my food budget. There are healthy eating options on seamless and in my firm's cafeteria. I make $2 breakfasts that are ultra healthy and very filling (protein shakes + oats) and can easily get a good lunch meal for $8 or 9 incl. tax.


Alright bro you win. Congrats. You will officially be the first associate I've ever met to pay off their loans in a year (or two... or three even).

dixiecupdrinking
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby dixiecupdrinking » Sun Jan 20, 2013 5:43 pm

Anonymous User wrote:ok so food budget needs to go up... thanks.

what else is ungodly high vs. other markets in my budget? where is this mystical buying power gap arising from that so negatively affects my qol in ny vs. other major markets?

It's really mainly taxes plus rent/utilities. Other things can be more expensive than other places but the gap isn't nearly as big, and most of the other very expensive things are lifestyle choices; you can spend a whole hell of a lot more eating and drinking out in NYC than in most other cities, for example, but you don't have to.

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XxSpyKEx
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Re: NALP Buying Power Index 2011, or, Why New York is Overrated

Postby XxSpyKEx » Sun Jan 20, 2013 10:11 pm

ph14 wrote:
dingbat wrote:
IAFG wrote:Your summer experience is not relevant, and I don't know how dingbat could have been more explicit.

Blessedassurance wrote:being a summer and associate are two different things.

Thanks.

I always love it when I hear how people think they'll pretty much be acting the same way when they're working 100 hour weeks as they do when they're in college.

Until you actually experience the kind of hours that these jobs demand for an extended period of time, you have no idea what it's like, whether you can handle it long term (most people can't handle the grind) and what your lifestyle is like.

When you're working 80-90 hours/week for 2 months straight, you're not gonna sit home and watch TV when you finally have a weekend off. You're gonna take some of that big fat paycheck, and blow it. Whether it's buying the entire criterion collection, going to a show, or a fancy meal, you're gonna end up spending money. When my brother and I went to DC for the weekend, I sprung for Acela tickets for both of us, because there was no way I was gonna ride the bus or waste time on a local train. I've gone to the opera and fuck it if I'm sitting in the back. I took my wife out for a $400+ dinner and ballroom dancing - I barely spend any time with her because of work, so we're not going to Ruby Tuesdays for her birthday.

The list goes on, but, when you're making stupid money and have no life, you end up spending money doing the things you like, and you're not sitting in the cheap seats


That sounds exactly like what i'm going to do after working those kind of hours.


+1




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