NYC to 200k Forum

[hoos89]

It all really depends. A single associate making 235k is easily upper middle class.

However, a family of 5? That’s middle class.

My parents always told me that you need roughly 100k per person in your household to live comfortably. So, for a family of 5, to live the comfortable lifestyle I grew up with, my dad had to earn ~500k. This was in the early 90s. My dad made more than that and we still lived a very middle class life (nothing lavish).

I also grew up in an expensive CT town, so it probably differs from someone living in Toledo or something.

I don't think you understand what "middle class" means. I'm guessing you lived a very NOT middle class lifestyle, but it just wasn't as lavish as most of your peers whose parents made more money, didn't save as much or relied on credit so you came to the conclusion that you were living a middle class life. (Also lol at $100k per kid per year)

You can't just look at 230 and assume that's fuck you money.

Bit of a straw man. There's room between "upper middle class" and "fuck you money".

[Anonymous User]

There's no answer to this question. BOTH SIDES are out of touch in one way or another. Depends how you define wealth. In my mind wealth is discretionary income, how much after taxes, CoL, loans and other obligations is left over to buy new things and experiences. Looking at income in a vacuum is dumb. 230k with a housewife, two kids, maxed out student loan debt, and a requirement to be within commuting distance of SF/NYC isn't poor by any means, but it's not rich either. You can't just look at 230 and assume that's fuck you money.

Also missing the point. Things like paying off expensive loans from your elite law school and living in commuting distance of a major metropolitan area make you upper class regardless of how much you have leftover after you pay for those shiny rich people things.

[Anonymous User]

There's no answer to this question. BOTH SIDES are out of touch in one way or another. Depends how you define wealth. In my mind wealth is discretionary income, how much after taxes, CoL, loans and other obligations is left over to buy new things and experiences. Looking at income in a vacuum is dumb. 230k with a housewife, two kids, maxed out student loan debt, and a requirement to be within commuting distance of SF/NYC isn't poor by any means, but it's not rich either. You can't just look at 230 and assume that's fuck you money.

You are failing to account for all of the psychic income attributable to bodegas.

[Anonymous User]

It definitely depends on where you live. Right now take home is about 8k a month in NYC. Subtract 3k for rent (for an okay 1br) and 2.5k for student loans and i have 30k a year left over. Which is a lot until you consider the fact i dont have time to do anything for myself. So dry cleaning and food add up to another 400-500 a month. In my budget i have about $500 of disposable income a month after all of my random expenses. I would call that middle class.

Put me in a low cost of living state and i can buy a 4+ bedroom for 3k a month. Or have way more disposable income. Not to mention the lower taxes. That is easily upper middle.

We have a ton of cash coming in, but most people have a ton of cash going out, too.

[Anonymous User]

Akin Gump matches Cravath scale, all offices. No bomus

Memo coming - need to screencap

[Anonymous User]

There's no answer to this question. BOTH SIDES are out of touch in one way or another. Depends how you define wealth. In my mind wealth is discretionary income, how much after taxes, CoL, loans and other obligations is left over to buy new things and experiences. Looking at income in a vacuum is dumb. 230k with a housewife, two kids, maxed out student loan debt, and a requirement to be within commuting distance of SF/NYC isn't poor by any means, but it's not rich either. You can't just look at 230 and assume that's fuck you money.

i guess i'd say having a housewife and two kids with maxed out student debt means upper middle (at a minimum) to me, otherwise you wouldnt be able to pull that off at all in NYC. middle class could be similar total income but having both parents grinding it out working, etc. your wife (or husband) not working is a luxury

[OneTwoThreeFour]

.

[OneTwoThreeFour]

Akin Gump matches Cravath scale, all offices. No bomus

Memo coming - need to screencap

!!!

[NakedPowerOrgan]

Akin Gump matches Cravath scale, all offices. No bomus

Memo coming - need to screencap

Wrong thread

[Anonymous User]

now is the time for houston big law to come crashing in on NYC/SF for living in squalor and being poor

[hoos89]

It definitely depends on where you live. Right now take home is about 8k a month in NYC. Subtract 3k for rent (for an okay 1br) and 2.5k for student loans and i have 30k a year left over. Which is a lot until you consider the fact i dont have time to do anything for myself. So dry cleaning and food add up to another 400-500 a month. In my budget i have about $500 of disposable income a month after all of my random expenses. I would call that middle class.

Put me in a low cost of living state and i can buy a 4+ bedroom for 3k a month. Or have way more disposable income. Not to mention the lower taxes. That is easily upper middle.

We have a ton of cash coming in, but most people have a ton of cash going out, too.

Middle class means commuting 90+ minutes each way to work because you can't afford $3k/mo for rent. Or rent controlled apartment I guess.

[Anonymous User]

It definitely depends on where you live. Right now take home is about 8k a month in NYC. Subtract 3k for rent (for an okay 1br) and 2.5k for student loans and i have 30k a year left over. Which is a lot until you consider the fact i dont have time to do anything for myself. So dry cleaning and food add up to another 400-500 a month. In my budget i have about $500 of disposable income a month after all of my random expenses. I would call that middle class.

Put me in a low cost of living state and i can buy a 4+ bedroom for 3k a month. Or have way more disposable income. Not to mention the lower taxes. That is easily upper middle.

We have a ton of cash coming in, but most people have a ton of cash going out, too.

so live with roomates if youre middle class. . . ?

[Dr. Nefario]

Relevant: http://www.businessinsider.com/middle-c ... sco-2018-2

[Anonymous User]

It definitely depends on where you live. Right now take home is about 8k a month in NYC. Subtract 3k for rent (for an okay 1br) and 2.5k for student loans and i have 30k a year left over. Which is a lot until you consider the fact i dont have time to do anything for myself. So dry cleaning and food add up to another 400-500 a month. In my budget i have about $500 of disposable income a month after all of my random expenses. I would call that middle class.

Put me in a low cost of living state and i can buy a 4+ bedroom for 3k a month. Or have way more disposable income. Not to mention the lower taxes. That is easily upper middle.

We have a ton of cash coming in, but most people have a ton of cash going out, too.

Where do we start? Apartment on our own = luxury. Living in Manhattan = luxury. Paying for dry cleaning = luxury. Just because you change luxury items to fixed expenses doesn't make them middle class items. Then again, lawyers were never good at accounting.

It amuses me that New Yorkers on here will defend the greatest aspects of their city on here while simultaneously arguing that the associated increase in COL makes them middle class.

[hoos89]

It definitely depends on where you live. Right now take home is about 8k a month in NYC. Subtract 3k for rent (for an okay 1br) and 2.5k for student loans and i have 30k a year left over. Which is a lot until you consider the fact i dont have time to do anything for myself. So dry cleaning and food add up to another 400-500 a month. In my budget i have about $500 of disposable income a month after all of my random expenses. I would call that middle class.

Put me in a low cost of living state and i can buy a 4+ bedroom for 3k a month. Or have way more disposable income. Not to mention the lower taxes. That is easily upper middle.

We have a ton of cash coming in, but most people have a ton of cash going out, too.

Where do we start? Apartment on our own = luxury. Living in Manhattan = luxury. Paying for dry cleaning = luxury. Just because you change luxury items to fixed expenses doesn't make them middle class items. Then again, lawyers were never good at accounting.

It amuses me that New Yorkers on here will defend the greatest aspects of their city on here while simultaneously arguing that the associated increase in COL makes them middle class.

Just because you can't afford everything you want with ease doesn't mean that you're middle class.

[Anonymous User]

Akin Gump matches Cravath scale, all offices. No bomus

Memo coming - need to screencap

Wrong thread

Thank you!

(I’m the anon with the original Akin trolling. This thread had gotten a bit too ridiculous, again, and needed to be mocked. Looks like no one gives a f anyway and are still trying figuring out whether their daddy’s Beneteau docked at Oyster Bay was a bit too nuveau riche to REALLY qualify as upper class)

[Anonymous User]

Relevant: http://www.businessinsider.com/middle-c ... sco-2018-2

Fair. But defining middle class as a percentage of median income means the same definition equates to a shittier and shittier lifestyle as more and more wealth is concentrated at the very tippy top.

[Anonymous User]

i certainly dont shit a shit about akin gump

[OneTwoThreeFour]

Are there still mods here? Can we start deleting off-topic shit? If you want to argue about what constitutes middle class make a new thread.

Here there is only one topic: NY to 200k.

Everyone else can shut the fuck up.

[Anonymous User]

just go to the other site if you like lame threads

[Anonymous User]

Relevant: http://www.businessinsider.com/middle-c ... sco-2018-2

Fair. But defining middle class as a percentage of median income means the same definition equates to a shittier and shittier lifestyle as more and more wealth is concentrated at the very tippy top.

Sorry I really don't understand how you can argue that "middle class" should be divorced from median incomes with a straight face..

[OneTwoThreeFour]

just go to the other site if you like lame threads

Shut the fuck up anon.

[Anonymous User]

So did Akin match or not?

[thelastlaugh]

Does the fact that Cravath changed the Milbank scale slow down matches? If that's the case, we might be another day or two before firms decide what to do.

[OneTwoThreeFour]

So did Akin match or not?

No, that was someone trolling. There is no Akin match (yet).