Shares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
1st years in NYC biglaw - how much do you pay on rent? Forum
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Re: 1st years in NYC biglaw - how much do you pay on rent?
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Where does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
$2200 for my share in a 4 bed,3 bath apartment. A little weird having 3 roommates but we all get along well and the place is huge and really nice.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
So you bought a condo? Even worse, enjoy getting ripped off on maintenance and taxes (probably more than my rent) to live in an undesirable part of ManhattanAnonymous User wrote: ↑Sat Nov 13, 2021 5:03 pmWhere does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Lol you need to chillAnonymous User wrote: ↑Sat Nov 13, 2021 5:57 pmSo you bought a condo? Even worse, enjoy getting ripped off on maintenance and taxes (probably more than my rent) to live in an undesirable part of ManhattanAnonymous User wrote: ↑Sat Nov 13, 2021 5:03 pmWhere does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Peer firms that pay market in NY, also pay market in Chi. I don't know anyone who cares about the "top 20 in Chicago" list. Saying that a v80 isn't market says nothing about Chicago.Anonymous User wrote: ↑Thu Nov 11, 2021 10:40 pmLooks like all of them matched except for Schiff: https://abovethelaw.com/2021/06/salary- ... 2021/?rf=1 (unless you count no info at year 8 for a couple firms as "salary compression")Anonymous User wrote: ↑Thu Nov 11, 2021 10:04 pmDo Mayer Brown, Winston, Jenner, Schiff Hardin, McDermott, Katten all pay full cravath thru year 8? they're all top 20 firms in Chicago per vault.
Outside of that prestigious Chicago Vault list there's also a bunch of random satellites that pay market: Dechert, Cooley, MoFo, K&S, White & Case, Proskauer, Weil, Wilson Sonsinni, Skadden, and more...
So yeah, looks like some cursory Chicago market research shows that most "top" firms pay NY money.
I'm not going to criticize anyone for choosing NY ofc, there's a million things that go into this decision. But it is a simple fact that you get better bang for your buck at biglaw in a secondary market (or non NY primary, however you define stuff).
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Strongly disagree. I'm the only person in my peer group working outside of NYC (recently moved to Houston). I love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here, I don't see why we should then be punished by having to subsidize NYC wage inflation. It's not like NYC residents don't have the same option to move elsewhere if they so desired. Also, I still need to work hard like I did in NYC.Anonymous User wrote: ↑Thu Nov 11, 2021 12:45 pmOff topic: After looking at the similar threads for other cities, it is insane to me that NYC biglaw isn't on its own salary scale.
I have similar thoughts for paying no state income tax. Higher taxing states (at least, in theory) use that money to provide citizens with better social services. I save a bunch of money, but I also accept the consequence of poorer government amenities (like the road in front of my apartment riddled with potholes). With the danger of straying even further off-topic, this is also why I am strongly opposed to the SALT tax reforms - again, we're being asked to subsidize higher taxing states, without being provided anything in return. If the federal government offers some form of reciprocity (e.g., build a world class subway system in Houston), then I'd happily support it.
Last edited by CiscoFlow on Mon Nov 15, 2021 10:51 am, edited 1 time in total.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Bang for your housing buck, sure. Bang for your everything else buck? lol absolutely notAnonymous User wrote: ↑Sat Nov 13, 2021 11:20 pm
Peer firms that pay market in NY, also pay market in Chi. I don't know anyone who cares about the "top 20 in Chicago" list. Saying that a v80 isn't market says nothing about Chicago.
I'm not going to criticize anyone for choosing NY ofc, there's a million things that go into this decision. But it is a simple fact that you get better bang for your buck at biglaw in a secondary market (or non NY primary, however you define stuff).
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Re: 1st years in NYC biglaw - how much do you pay on rent?
A lot of people affirmatively choose Harlem as a place to live. Undesirable to you maybe, but calling it blanket undesirable is not true and when I have heard others make similar comments in the past, there is often some racism right below the surface, though of course I am sure you did not mean it that way at all.Anonymous User wrote: ↑Sat Nov 13, 2021 5:57 pmSo you bought a condo? Even worse, enjoy getting ripped off on maintenance and taxes (probably more than my rent) to live in an undesirable part of ManhattanAnonymous User wrote: ↑Sat Nov 13, 2021 5:03 pmWhere does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
What sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Same salary, cheaper housing. Someone suggested that we get lower salary and that's simply not true. Definitely cheaper housing. Not sure what other expenses you think are relevant, or why the hostility? Sure, we have blue state taxes, but so do you. Texas has us beat, and that's OK, bc I don't want to live in Texas. I live here.thisismytlsuername wrote: ↑Mon Nov 15, 2021 10:49 amBang for your housing buck, sure. Bang for your everything else buck? lol absolutely notAnonymous User wrote: ↑Sat Nov 13, 2021 11:20 pm
Peer firms that pay market in NY, also pay market in Chi. I don't know anyone who cares about the "top 20 in Chicago" list. Saying that a v80 isn't market says nothing about Chicago.
I'm not going to criticize anyone for choosing NY ofc, there's a million things that go into this decision. But it is a simple fact that you get better bang for your buck at biglaw in a secondary market (or non NY primary, however you define stuff).
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Re: 1st years in NYC biglaw - how much do you pay on rent?
I agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
To put this another way, NYC associates don't provide more value than associates in other cities.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive overall than Houston.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
Extended WFH has shown that it doesn't really matter where you are, which is why so many smaller markets that used to be below NY comp are now lockstep. If NY raises, all markets will. (I personally won't complain). But bottom line, there's really no way to structure comp it so that it reflects COL.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
But the govt gives COL adjustments and I have not heard an AUSA or a clerk in low COL district complain that they don't get paid the same as an AUSA or clerk in NY or another major city so presumably that could work. They'll never do it, but I don't think it's a wholly bizarre idea....Anonymous User wrote: ↑Mon Nov 15, 2021 11:53 amTo put this another way, NYC associates don't provide more value than associates in other cities.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive overall than Houston.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
Extended WFH has shown that it doesn't really matter where you are, which is why so many smaller markets that used to be below NY comp are now lockstep. If NY raises, all markets will. (I personally won't complain). But bottom line, there's really no way to structure comp it so that it reflects COL.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Tech was one of the first to experiment & embrace the WFH policy. Tech has also been one of the first to experiment w/adjusting salaries (e.g. Google) based on where people live.Anonymous User wrote: ↑Mon Nov 15, 2021 11:53 amTo put this another way, NYC associates don't provide more value than associates in other cities.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive overall than Houston.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
Extended WFH has shown that it doesn't really matter where you are, which is why so many smaller markets that used to be below NY comp are now lockstep. If NY raises, all markets will. (I personally won't complain). But bottom line, there's really no way to structure comp it so that it reflects COL.
Not too far-fetched to think that biglaw might follow…
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Re: 1st years in NYC biglaw - how much do you pay on rent?
This is a good point, and I'm not sure why it's so different in govt. The scale might be a factor - it's one thing to be paying the same objectively high salary, it's another to expect people to survive in NY on 60k or whatever. In govt you expect to make less; you don't think in terms of profits and billings. So the earlier comment about subsidizing another office wouldn't apply.Anonymous User wrote: ↑Mon Nov 15, 2021 2:00 pmBut the govt gives COL adjustments and I have not heard an AUSA or a clerk in low COL district complain that they don't get paid the same as an AUSA or clerk in NY or another major city so presumably that could work. They'll never do it, but I don't think it's a wholly bizarre idea....Anonymous User wrote: ↑Mon Nov 15, 2021 11:53 amTo put this another way, NYC associates don't provide more value than associates in other cities.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive overall than Houston.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
Extended WFH has shown that it doesn't really matter where you are, which is why so many smaller markets that used to be below NY comp are now lockstep. If NY raises, all markets will. (I personally won't complain). But bottom line, there's really no way to structure comp it so that it reflects COL.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
It's not far fetched, and if it happens it happens. But the trend is the opposite direction. To take one example, Atlanta went to NY lockstep in the last year.Anonymous User wrote: ↑Mon Nov 15, 2021 2:06 pmTech was one of the first to experiment & embrace the WFH policy. Tech has also been one of the first to experiment w/adjusting salaries (e.g. Google) based on where people live.Anonymous User wrote: ↑Mon Nov 15, 2021 11:53 amTo put this another way, NYC associates don't provide more value than associates in other cities.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive overall than Houston.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
Extended WFH has shown that it doesn't really matter where you are, which is why so many smaller markets that used to be below NY comp are now lockstep. If NY raises, all markets will. (I personally won't complain). But bottom line, there's really no way to structure comp it so that it reflects COL.
Not too far-fetched to think that biglaw might follow…
Anyway I think this tangent has lasted long enough so I'll bow out of the thread.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Some firms in Atlanta and Houston, etc.. pay the New York scale but isn't the difference how many "top of scale" jobs there are? Like the 75th best firm in New York pays the full $205k scale, but how many do in Atlanta? 5?
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Isn't this another way of saying "there are more jobs in NY"? The 75th best firm in NY is a V100 (maybe V75? are there any V100s that don't have a NY office?) The smaller cities will have fewer firms and smaller offices of that caliber.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
I think the reason people gravitate to the largest cities is much more complicated. People don't just live in places like NYC because they want to. Especially before the pandemic, they were effectively forced to for some careers. This dynamic will likely lessen post-COVID. Also, more people are from bigger cities, and the majority of people choose to spend their lives close to where they are born, especially if that's where their family is. It's a self-fulfilling prophesy in that way.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
It's the same for me. I'm at a BL shop in a secondary/tertiary market close to where I grew up. It pays Cravath lockstep despite the fact that the luxest of lux 2-beds in the city is around $2200. If you want to save, you can easily get a decent 1-bed for under $1k. I've heard of people paying as low as $600 with roommates. The vast majority of associates own a nice house with an easy commute by their 3rd year. And most (read: all) of them had the opportunity to go to NYC BL but chose not to because they wouldn't touch NYC with a 100-foot pole.
Also, I've lived in several big(ger) cities, and I'd say, for most people, the bar/restaurant scene is over-emphasized as a factor. Most cities big enough to have BL options are also big enough to have very solid bars/restaurants. Not a thousand of them like NYC, but it's enough for all but the most zealous foodies. We also have many comedy shows, concerts, and professional sporting events. The city I'm in has an NFL, NBA, and MLB team. And the tickets are often cheap af, especially on a BL salary with cheap rent.
I'm not shitting on NYC; it's childish. But so is shitting on smaller cities. People live where they live for a whole host of reasons. And it's myopic as fuck to think everyone outside NYC wishes they were there (or vice versa).
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Re: 1st years in NYC biglaw - how much do you pay on rent?
I need to know where you live.Anonymous User wrote: ↑Wed Nov 17, 2021 11:45 amI think the reason people gravitate to the largest cities is much more complicated. People don't just live in places like NYC because they want to. Especially before the pandemic, they were effectively forced to for some careers. This dynamic will likely lessen post-COVID. Also, more people are from bigger cities, and the majority of people choose to spend their lives close to where they are born, especially if that's where their family is. It's a self-fulfilling prophesy in that way.CiscoFlow wrote: ↑Mon Nov 15, 2021 11:46 amI agree that its not worthy of 'compensation' in my favor. My point is that I shouldn't have to compensate someone else (in terms of pay differential, especially within my firm) who chooses to live in a higher COL city - i.e., I only expect to be paid the same wage as others in similar positions. The reason that any given city has higher COL is complex, but usually a large factor, especially with rental prices and in the United States, is that more people want to live there. Understood that you are not a fan of NYC - join us! - but on a macro level, top tier cities like NYC are more attractive.Anonymous User wrote: ↑Mon Nov 15, 2021 11:20 amWhat sacrifices? There are plenty of people who have no desire to live in NYC, and the suggestion that living elsewhere is a "sacrifice" worthy of compensation is bonkers.CiscoFlow wrote: ↑Mon Nov 15, 2021 10:47 amI love Texas, but realistically a major reason Houston is cheaper is because people choose to pay a 'fun tax' to live in cities like NYC. For a single person for example, you cannot compare a night out in Midtown Houston to most places in Manhattan. If people like me choose to make sacrifices by moving here
Signed, a single person currently living in NYC who has lived in many other areas and countries and is trying to leave NYC as soon as possible.
It's the same for me. I'm at a BL shop in a secondary/tertiary market close to where I grew up. It pays Cravath lockstep despite the fact that the luxest of lux 2-beds in the city is around $2200. If you want to save, you can easily get a decent 1-bed for under $1k. I've heard of people paying as low as $600 with roommates. The vast majority of associates own a nice house with an easy commute by their 3rd year. And most (read: all) of them had the opportunity to go to NYC BL but chose not to because they wouldn't touch NYC with a 100-foot pole.
Also, I've lived in several big(ger) cities, and I'd say, for most people, the bar/restaurant scene is over-emphasized as a factor. Most cities big enough to have BL options are also big enough to have very solid bars/restaurants. Not a thousand of them like NYC, but it's enough for all but the most zealous foodies. We also have many comedy shows, concerts, and professional sporting events. The city I'm in has an NFL, NBA, and MLB team. And the tickets are often cheap af, especially on a BL salary with cheap rent.
I'm not shitting on NYC; it's childish. But so is shitting on smaller cities. People live where they live for a whole host of reasons. And it's myopic as fuck to think everyone outside NYC wishes they were there (or vice versa).
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Me, as an NYC resident, when people living elsewhere start to post in our rent thread:
Can we please re-focus our energies here on posting NYC rent? People who live outside NYC are welcome to lurk as observers (and privately feel smug about their lower COL)
Can we please re-focus our energies here on posting NYC rent? People who live outside NYC are welcome to lurk as observers (and privately feel smug about their lower COL)
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Yes. That's why people (not just in our industry) come to New York - there are just far more opportunities here; and employers tend not to care if you have roots.Anonymous User wrote: ↑Tue Nov 16, 2021 8:57 pmIsn't this another way of saying "there are more jobs in NY"? The 75th best firm in NY is a V100 (maybe V75? are there any V100s that don't have a NY office?) The smaller cities will have fewer firms and smaller offices of that caliber.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Pro tip, nobody "chooses" to live in Harlem, they are priced out of living further southAnonymous User wrote: ↑Mon Nov 15, 2021 11:13 amA lot of people affirmatively choose Harlem as a place to live. Undesirable to you maybe, but calling it blanket undesirable is not true and when I have heard others make similar comments in the past, there is often some racism right below the surface, though of course I am sure you did not mean it that way at all.Anonymous User wrote: ↑Sat Nov 13, 2021 5:57 pmSo you bought a condo? Even worse, enjoy getting ripped off on maintenance and taxes (probably more than my rent) to live in an undesirable part of ManhattanAnonymous User wrote: ↑Sat Nov 13, 2021 5:03 pmWhere does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*Anonymous User wrote: ↑Thu Nov 11, 2021 8:15 pmI split a very large two bedroom with backyard apartment in Harlem with my partner. 20 minute commute to work. We each pay $1375 which has been stellar and allowed us to buy a two bedroom apartment uptown after working in biglaw for a year. Would definitely recommend going for lower cost of living.
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Re: 1st years in NYC biglaw - how much do you pay on rent?
Harlem has great restaurants, plenty of new construction and sits on several convenient train lines. Can you explain further why you think no one "chooses" to live in Harlem?Anonymous User wrote: ↑Wed Nov 17, 2021 4:20 pmPro tip, nobody "chooses" to live in Harlem, they are priced out of living further southAnonymous User wrote: ↑Mon Nov 15, 2021 11:13 amA lot of people affirmatively choose Harlem as a place to live. Undesirable to you maybe, but calling it blanket undesirable is not true and when I have heard others make similar comments in the past, there is often some racism right below the surface, though of course I am sure you did not mean it that way at all.Anonymous User wrote: ↑Sat Nov 13, 2021 5:57 pmSo you bought a condo? Even worse, enjoy getting ripped off on maintenance and taxes (probably more than my rent) to live in an undesirable part of ManhattanAnonymous User wrote: ↑Sat Nov 13, 2021 5:03 pmWhere does it say a coop is was purchased?Anonymous User wrote: ↑Sat Nov 13, 2021 10:42 amShares in a coop aren't tangibleAnonymous User wrote: ↑Thu Nov 11, 2021 9:11 pm*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*Anonymous User wrote: ↑Thu Nov 11, 2021 8:55 pm
*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*
Seriously? What are you waiting for?
Now there's a charge.
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