8 years of industry experience (mostly in ops) and two-plus years in this specific role.
Company size is sub 100 employees.
What does glass door say?
How can you live in NYC on $105k?
Yeah, Glassdoor isn’t super helpful unless your job titles and functions line up exactly. Was hoping maybe someone on the forum had a similar role.
It would be interesting to hear from folks about what their roles are along with their comp. Could help some of us gauge our value.
right - im doubtful youd be able to head out east and properly enjoy the summer on comp that low
Harlem maybe?
Impossible. OP is clearly dead.
I had a similar role but not in NYC. At the time did not have CFA (yet, just 2 levels passed), had 3-4 years of experience. Think I was making all in $95k. But again, not NYC.
You are a Charterholder in NYC, I would think you could command a bit more, but don’t get greedy unless you can quantify if any of your specific choices have made the firm more money. After working at it for years I decided that job is more luck than skill, which is why I busted out of there as soon as I got my charter.
Oh and I “survived” in NYC on $55k salary 10 years ago (not sure what the rents are now). Lived in LIC, right across from east midtown.
NYC ain’t THAT bad if you live 40-60 min away in either NJ or Harlem, Queens, Bronx, Brooklyn, or any surrounding areas…The cost of living in these areas is no different than living in any large cities in the US - SF, LA, Seattle, Miami, Boston, Chicago, etc.
OP, you are fund of fund analyst. One of my neighbors when I lived in UWS was an Equity Portfolio Manager for Russell. He said he was fund of funds equity manager. Glassdoor says these guys make around $300k and this is plausible considering he lived in UWS and our building is a condo building.
Your ALL IN $105k with 4 years of experience does seem in line because you are working for HNWI oriented investment advisor whereas my neighbor worked for a “global” firm and his clients are institutional and he is a PM.
Chicago is way cheaper than those other cities
Chicago cheaper than cities surrounding Manhattan? Cities in NJ where 2 bedrooms can be had for $650k and 50 minute commute to midtown?
Had a colleague who commuted from NJ’s “Gold Coast” and his rent was around $2200 for 1 bedroom. You can get something very similar in price (although might lack in other amenities) in Harlem, Bronx, Queens…
Comparison is whack. Most of those cities also have very expensive areas that don’t compare to Bronx. Just does not make sense, but the comparison also does not matter for what you’re saying: NYC can be affordable.
okokok but aside from how OP makes living which is not his question…I think OP’s comp is in line for reasons I said above, just a few posts up.
The median home price in Chicago is 250k . . .
oh wow!! Even the back office dudes at Citadel must be killing it with their $70k salary in a city with home prices in the 250 range.
why so cheap? Aren’t there high paying jobs over there? Or the weather sucks enough to deter anyone with money/choice from staying?
Keep expanding the argument until you can find facts that fit your prior. A+ analysis
Where in my thread does it tell you that I am expanding my argument? I indirectly accepted that home prices are indeed in the $250k range. My thread is merely saying those guys working at hedge funds must be doing really well considering their pay is similar to that of NYC HF folks but don’t have to buy $3M apartment units.
Then I went on to ask why it is so cheap over there because at those prices, it is cheaper than most if not all major cities in the US.
I’ll give you an A+ on framing bias on your part.
“NYC ain’t THAT bad if you live 40-60 min away in either NJ or Harlem, Queens, Bronx, Brooklyn, or any surrounding areas”
Almost all of these places are nowhere nearly as nice as what you’ll get in other areas, with the same affordability or commute time. “Go live in Harlem”, you’ll tell some supposedly affluent investment banking guys. Yeah right. Even nice places in NY City are not nice at all for the price. You can pay $5 million for a 3 bedroom apartment in Tribeca, and it’s still a condo. On top of that, a one hour commute to NYC from the suburbs (and 1 hour is really on the short side) means cramming into crowded trains and wrestling with people the whole time. The average commute in other areas is much shorter, and you get to drive there in your Audi. No matter how much you pay in NYC, unless you take a helicopter, you have to deal with the (literally) sh*tty subway and be pushed around by unwashed peasants. Why even try to rationalize that this is the same as what you get outside of NY? The overwhelming, crushing volume of people destroys your quality of life.
The only reason why you would live here is if you get paid a lot more than you would elsewhere. I would not live here for $300k a year. If that’s your dream, you should reconsider your life priorities. Like rawraw says, you can get similar money in other places if that is your range. $250k houses is unrealistic, since you will want to live in a nice neighborhood, but even $1 million houses is a huge saving over NY.
I’ve lived in UWS and recently moved to Scarsdale and take the 38 min train to grand central everyday. Not bad really. Sit down in the train in air conditioned train car.
I agree, if I had choice I would work for a HF or VC fund else where in the country but that else where is usually but not always in SF, which is just as expensive as NYC.
Btw, Harlem is not the Harlem of the 90s. But yes, you need to cough up $4,000 a foot to buy a condo in the city and for that you get a midlevel floor with sirens and car honks going off constantly. Or, you can move out to Scarsdale, Rye, Harrison (all NY) or move out to suburbs in NJ and buy a house on an acre lot that goes for ~$600 per foot. Your commute is 70 minutes.
So for me it is commute via train and buy a house on an acre lot OR move out to LA or SF and DRIVE for 80 minutes and live in a similar house for a similar price. The problem is there are fewer funds out there in the West Coast.