1st years in NYC biglaw - how much do you pay on rent? Forum

[Anonymous User]

I still don't really see why 3500 vs 2500 in rent really matters. In NYC that's a significant QoL boost and there are far far dumber things I've seen BigLaw associates waste money on, such as gambling, drugs, hookers, giving money away to mooching significant others, shopping addiction, etc.

Agree with this...$1,000 a month is like 2-3 nice dates or a couple of big nights out. If I saved $12,000 per year I could take an extra week's nice vacation though but not sure it's worth the hit to QoL to live with roommates, and in any case I am no longer single so can't do that anymore.

[Anonymous User]

I still don't really see why 3500 vs 2500 in rent really matters. In NYC that's a significant QoL boost and there are far far dumber things I've seen BigLaw associates waste money on, such as gambling, drugs, hookers, giving money away to mooching significant others, shopping addiction, etc.

Agree with this...$1,000 a month is like 2-3 nice dates or a couple of big nights out. If I saved $12,000 per year I could take an extra week's nice vacation though but not sure it's worth the hit to QoL to live with roommates, and in any case I am no longer single so can't do that anymore.

Nobody needs to live with roommates to spend $2500/month on rent for a studio or even 1br. The only reason to pay more is if you're a person who is new to living in older cities and requires that your building be shiny and new. I personally prefer older buildings, but I know people who grew up in the suburbs or exurbs who aren't used to living in older cities and want their apartments to be brand-new. But it seems like a lot of people in big law live in the overpriced glass boxes in LIC and downtown Brooklyn and the far West side, so maybe it's a culture thing that I am just missing.

[Anonymous User]

I still don't really see why 3500 vs 2500 in rent really matters. In NYC that's a significant QoL boost and there are far far dumber things I've seen BigLaw associates waste money on, such as gambling, drugs, hookers, giving money away to mooching significant others, shopping addiction, etc.

Agree with this...$1,000 a month is like 2-3 nice dates or a couple of big nights out. If I saved $12,000 per year I could take an extra week's nice vacation though but not sure it's worth the hit to QoL to live with roommates, and in any case I am no longer single so can't do that anymore.

Nobody needs to live with roommates to spend $2500/month on rent for a studio or even 1br. The only reason to pay more is if you're a person who is new to living in older cities and requires that your building be shiny and new. I personally prefer older buildings, but I know people who grew up in the suburbs or exurbs who aren't used to living in older cities and want their apartments to be brand-new. But it seems like a lot of people in big law live in the overpriced glass boxes in LIC and downtown Brooklyn and the far West side, so maybe it's a culture thing that I am just missing.

I probably wouldn't yuck other people's yum as much as you seem to be doing, but I also...mostly agree with you? Completely anecdotal, but I've heard some terrible things about the build quality and the overall fit & finish in these new "luxury" buildings of the last decade. The idea of paying >$3,500/month, only to be saddled with paper-thin walls and kitchen cabinets that come off the hinges if you pull too hard, is funny to me. And the fact that the apartment comes with communal access to (e.g.) a golf-simulator room, is cold comfort.

On the other hand, I will pay a reasonable premium to live in a neighborhood that is vibrant, has good restaurants, good parks, etc.

[Joachim2017]

Re the last two posts, to each their own, right? That said, it seems pretty stupid to declare, "The only reason to pay more is if you're a person who is new to living in older cities and requires that your building be shiny and new." There's all kinds of other reasons. Anyway, in NYC, you can find plenty of luxury buildings that don't have paper-thin walls or shoddy appliances/finishing.

[Anonymous User]

Accoring to an Anon on TLS, the only reason people pay above 2500$ for rent in NY is because they are "new to living in older cities." The average apartment in Manhattan or Brooklyn is more than that.

Probably suburbanites do make less savvy renters, but there's also a real QoL difference.

Further, rent shaming will ruin the thread. People paying a lot will not post, while ramen-eating, debt adddled dorks compete to be closer to a $0 tent city.

[Anonymous User]

Not to derail this further but it's actually not easy to find a well-built, older building in Manhattan that's affordable. The well-built, handsome brownstones or walkups with character he's talking about are very rarely up for rent.

I've lived in a pre-war walkup studio before for $1800/month when I was a summer and the place got 0 sunlight and was above a restaurant so I constantly freaked out about pests. It was a terrible experience and turned me off of old buildings for a long time.

Then I did the glass box thing for several years (paid $2000 - $2200 with 2 roommates in living in a converted 2 BR and then a 3BR, then $3500 for a 1BR) but now I'm in a walk-up that's been gut renovated in LIC so it's the best of both worlds.

[Anonymous User]

Off 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.

On topic: I think the sweet spot in NYC is ~3k/mo. You can get a nice, clean, and sunlit spot (which imo is a big QoL increase) while also not totally crippling yourself.

[Anonymous User]

On topic: I think the sweet spot in NYC is ~3k/mo. You can get a nice, clean, and sunlit spot (which imo is a big QoL increase) while also not totally crippling yourself.

Don’t forget quiet. Never making the mistake of living in a 2nd-floor, street-facing apartment with old/thin windows above a busy street (think 34th/42nd/72nd St), ever again.

[Anonymous User]

2nd year paying around $3000. I live in a ~$5600 2 bedroom on the LIC waterfront with my gf (was cheaper last year but we just resigned). Converted the 2nd bedroom into a home office. Love LIC for the ferry during the summer and the super easy commute to the city when I do go into the office.

[thisismytlsuername]

On topic: I think the sweet spot in NYC is ~3k/mo. You can get a nice, clean, and sunlit spot (which imo is a big QoL increase) while also not totally crippling yourself.

Don’t forget quiet. Never making the mistake of living in a 2nd-floor, street-facing apartment with old/thin windows above a busy street (think 34th/42nd/72nd St), ever again.

To expand on that, don't live with your windows facing a two-way street, period.

[Res Ipsa Loquitter]

An NYC transactional associate should get paid more than a Houston lit associate.

But we are already seeing separation in the form of retention bonuses, and even some of the top firms in big cities like Houston/Chicago don't actually pay full Cravath scale. There's salary compression. I think top LA/NorCal firms do pay the same as NYC but LA, SF and Palo Alto aren't really cheaper than NY. Esp. because in LA or Palo Alto you need a car.

[Anonymous User]

I 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.

[Anonymous User]

I 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.

*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*

[Anonymous User]

I 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.

*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*

*recommends lower COL in order to have what would be $ thrown away renting funneled into a tangible asset*

[Anonymous User]

[E]ven some of the top firms in big cities like Houston/Chicago don't actually pay full Cravath scale.

Like what, Jones Day? Apart from that basically all the top firms do indeed pay the same. Get out of your delusional NY bubble.
-Incoming first year in Houston at a not top firm that definitely pays NY money

[Anonymous User]

Do 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.

[Anonymous User]

Do 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.

Looks 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")

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.

[Anonymous User]

But you're not even addressing the biggest disparity. NY associates can more easily stay in biglaw longer. They bill more hours and at a higher rate, and if they do suck enough to get fired, they have the deepest and most liquid lateral market by a country mile.

[Anonymous User]

But you're not even addressing the biggest disparity. NY associates can more easily stay in biglaw longer. They bill more hours and at a higher rate, and if they do suck enough to get fired, they have the deepest and most liquid lateral market by a country mile.

Right, deepest and most liquid lateral market by a country mile...https://www.abajournal.com/news/article ... associates

Edit to add: lol @ the idea that billing more hours helps biglawl longevity

[Anonymous User]

[E]ven some of the top firms in big cities like Houston/Chicago don't actually pay full Cravath scale.

Like what, Jones Day? Apart from that basically all the top firms do indeed pay the same. Get out of your delusional NY bubble.
-Incoming first year in Houston at a not top firm that definitely pays NY money

Not to mention, yanno, the extra $20k+ that you receive with the lack of state/local income tax

[Anonymous User]

But you're not even addressing the biggest disparity. NY associates can more easily stay in biglaw longer. They bill more hours and at a higher rate, and if they do suck enough to get fired, they have the deepest and most liquid lateral market by a country mile.

Right, deepest and most liquid lateral market by a country mile...https://www.abajournal.com/news/article ... associates

While 500k sounds really sweet, the lateral market in NY is still deeper and more liquid.

[Dahl]

*Recommends lower COL after overpaying for some shitty coop or condo in Harlem*

Using anon to shit on someone’s home purchase? Weak

[tsk222]

When I was a first year in 2016 my (now) wife and I shared a $2,400 1 bedroom on the upper east side. Elevator building but no doorman, awesome neighborhood. Would have been great for 1 person, a little tight for two. next year we moved into a bigger $3,300 place a few blocks away. Now we have a kid and live in an LOL $5,000+ 2 bedroom. To each their own but IMHO, and I'm obviously not a particularly frugal person, living in a $3,500 NYC place by yourself in your mid 20's is weird and try-hard. For first years in their late 20's-30's, different story.

[Anonymous User]

I feel silly posting this but...

$5k for a big 1 bedroom w/ washer/dryer in unit and a ton of building amenities. It helps that I worked before biglaw so have a healthy amount of savings and don’t have any debt from school.

[Anonymous User]

I feel silly posting this but...

$5k for a big 1 bedroom w/ washer/dryer in unit and a ton of building amenities. It helps that I worked before biglaw so have a healthy amount of savings and don’t have any debt from school.

Damn. Sincerely not rent shaming but these data points fascinate me. May I ask which neighborhood? Do you get good use out of the building amenities (I’m assuming it’s a gym, pool, and the like)?

Are you a 1st year? (Any other sources of income — passive, etc.?)