Is $105K + $45K bonus enough to live comfortably in NYC?

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Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sat Jun 23, 2018 4:40 pm

Coming from the non-profit field in a lower COL area. Landed a gig in Securities Compliance at a big, but regional bank. Only 1-year of law experience (non-profit but related to finance), 2-years of unrelated experience before law school. Salary offer is $105K base salary, $45K bonus. Also getting a $10K signing bonus. Job is in Midtown.

Is $105K enough? I don’t want roommates so I’d be looking at around $2400 a month for an apartment (not comfortable with much more). Not too much debt (few hundred a month).
Last edited by Anonymous User on Sat Jun 23, 2018 4:50 pm, edited 2 times in total.

bdadon

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Re: Is $105K + $45K bonus enough for NYC?

Postby bdadon » Sat Jun 23, 2018 4:45 pm

As a native new yorker, you have enough depending on your loans. If you look in Wahington Heights or Brooklyn you can find a place for a good price. It also depends on if this job requires you to be on call 24/7. Can you PM? I would like more information on your career journey, I am a recent grad studying for the bar, still looking for employment.

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Re: Is $105K + $45K bonus enough for NYC?

Postby Anonymous User » Sat Jun 23, 2018 4:46 pm

Short answer: yes.

You won’t be able to live it up like some other people, but you can live comfortably.

My friends make around 115k and live in apartments that cost like ~2800-3000 and they still seem to live comfortably.

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Auxilio

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Re: Is $105K + $45K bonus enough for NYC?

Postby Auxilio » Sat Jun 23, 2018 4:48 pm

Enough for what?

The median annual household income in NYC is like 50k. So even if you were sitting on a couple hundred thousand in debt you'd be better off than the average resident.

jennyf

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby jennyf » Sat Jun 23, 2018 6:59 pm

Yes definitely. What will your hours be? If they are 9-6 you can handle a 45 minute - 1 hour commute. Look in Queens and in Brooklyn Windsor Terrace or Kensington if you want a 1 bedroom that’s pretty nice. You’ll have enough to live nicely and still save.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sat Jun 23, 2018 10:11 pm

jennyf wrote:Yes definitely. What will your hours be? If they are 9-6 you can handle a 45 minute - 1 hour commute. Look in Queens and in Brooklyn Windsor Terrace or Kensington if you want a 1 bedroom that’s pretty nice. You’ll have enough to live nicely and still save.

8-6 or 9-6ish.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sat Jun 23, 2018 10:54 pm

lol, seriously? I make $65k and live in a decent apartment without roommates. How is this even a question?

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Toni V

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Toni V » Sun Jun 24, 2018 10:48 am

Please describe [your version of] comfortably.

thebpac

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby thebpac » Sun Jun 24, 2018 2:23 pm

Is your new job hiring?? Sounds like a great gig.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sun Jun 24, 2018 3:14 pm

Toni V wrote:Please describe [your version of] comfortably.

Not OP, but I have to imagine it involves living on one's own in a decent apartment that's in an area that's safe and convenient to work, while being able to pay down debt, save for retirement, and engage in occasional social activities. I think $150k in NYC is borderline comfortable, provided there is no family to support.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sun Jun 24, 2018 3:51 pm

Anonymous User wrote:
Toni V wrote:Please describe [your version of] comfortably.

Not OP, but I have to imagine it involves living on one's own in a decent apartment that's in an area that's safe and convenient to work, while being able to pay down debt, save for retirement, and engage in occasional social activities. I think $150k in NYC is borderline comfortable, provided there is no family to support.


OP here. This is correct. Decent apartment in a safe area, with enough money to go to dinner a couple of times a week. Saving for retirement won’t be an issue. No family, I’ll be out of NYC by the time that happens

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sun Jun 24, 2018 5:09 pm

If working in midtown west, look at hoboken. Super nice/quiet area that is much cheaper than across the river and with the PATH train, it’s only about a 30 minute commute to midtown.

Civilservant

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Civilservant » Sun Jun 24, 2018 8:04 pm

You may have to switch from Starbucks to Dunkins at that paltry of a salary. :roll:

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Sun Jun 24, 2018 8:40 pm

Yes, definitely, although you can't swing a cat in NYC without hitting someone making 2x, 3x, or 5x that who complaints about how difficult it is to afford New York on his or her respective salary.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Mon Jun 25, 2018 8:42 am

As a NYC ADA making about 65k, fuck this entire thread.

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Mon Jun 25, 2018 11:11 pm

Anonymous User wrote:If working in midtown west, look at hoboken. Super nice/quiet area that is much cheaper than across the river and with the PATH train, it’s only about a 30 minute commute to midtown.


Working in Midtown East. Some people have recommended Astoria, while others say I shouldn’t want to live in Queens for my first year in NYC

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Re: Is $105K + $45K bonus enough to live comfortably in NYC?

Postby Anonymous User » Tue Jun 26, 2018 9:44 am

you may have to go out begging a few days a week but you'll live



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