OT: Any NYC residents on here?
- Thread starter ronpolk
- Start date
I have got several PM from people on the board. I was not expecting that many people on this board to live there.
I'm not single. My wife and I are both 28. Also, have a daughter that is 7 months old. So, timing is certainly not ideal but it is certainly something we are heavily considering.
You'll have to weigh career advancement/comp against quality of life then obviously. For a short term (<5 yes or at least before your kid hits elementary school) it may still be a great move.
And if the job is on the outskirts / not in the city proper that may make things easier for a family up there.
Overall, however, I encourage people to move away from Mississippi for a time and take risks. There's a big world out there and if you truly love Mississippi you'll come back with a much better understanding of why, and you'll have such a broader perspective and you'll be a great ambassador for our school.
Not necessarily speaking to you as I don't know your circumstances but just in general I see State graduates tentative to take risks straight out of college when they're most suited for it.
And if the job is on the outskirts / not in the city proper that may make things easier for a family up there.
Overall, however, I encourage people to move away from Mississippi for a time and take risks. There's a big world out there and if you truly love Mississippi you'll come back with a much better understanding of why, and you'll have such a broader perspective and you'll be a great ambassador for our school.
Not necessarily speaking to you as I don't know your circumstances but just in general I see State graduates tentative to take risks straight out of college when they're most suited for it.
Not sure how long you have to make the decision but the MS Picnic in Central Park is coming up in 2 weeks. You could probably get some good advice there, meet some future friends and do some valuable networking. Link:
http://www.thenyms.org/
http://www.thenyms.org/
I was going to say, if you are single, dont bother moving if you will make less than 100k at minimum. 100k wont make you a baller but you can get by with a decent place and be able to go out, etc. You and youre wife will need to knock down at least 200k a year with a kid. Probably more. I think there are like 2 good public schools in the city. Having a kid, youre going to need a 2 bedroom, which is going to cost you 2k minimum to 4k for something decent.
Id say live in the city / brooklyn. I cant imagine moving to NYC and being a bridge & tunnel commuter from NJ.
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A studio walk-up in midtown is about $2k a month. 2BR can run $5k, not cheap. My buddy shared a place in Hell's Kitchen for $1800 each for three roommates.
Yeah, 2k is the low end for a ******** in a non desirable neighborhood. 4k is more like it....or more.
I grew up in Florida and since college have lived in MS, so throwing out rents like literally just blows my mind. If we move, we will get a nice bump in salary and could afford $3 to $4 a month. I think my hang up right now is that here in MS our combined income is very good. Even with the bump in NYC, I think we will be giving up some of the comfort with extra money we have now. However, making a move like this will be harder as my daughter gets older.
I will never understand the appeal. It is just such an odd thing to strive for- the chance to pay out your nose and be constantly on the edge of not having enough $ for basic life enjoyments and comforts, all the while earning 6digits.
Odd.
But hey, its got a lot of culture...even if you cant afford to experience it.
2 good public schools in a city of 8 million?
$4000/month just to live in a 2bedroom that is only 'decent'?
Min $200K household income?
Or become part of the B&T crowd and lose hours of precious family time because of commuting since you cant afford the absurd numbers above?
Enticing.**
Everyone has different priorities in life, that is quite clear.
The lifestyle bump is double. If you make 75k in miss, you need to make 150k in nyc to have the same lifestyle. It is actually close to 1.25 times what you make now, so more like 170k.
If they arent at least doubling your salary, you will be taking a big step back in lifestyle.
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I would also add that just saying "Brooklyn" doesn't mean you wouldn't be part of the B&T crowd.
I think the bottom line here is that you better have very very strong financial incentive or very strong career advancement incentive to uproot your family. You're kind of doing things in reverse here which is fine if you see the value.
To the haters/whiners that say "gee whiz why would anyone do that/pay so much to live there?", they've obviously never experienced the huge benefit of making just a lateral move from big market to small and reaping the rewards of lower cost of living. Not too mention in a place like NYC you are surrounded by highly intelligent people that will make you smarter and more experienced. All this obviously assumes you have a linear career/skill that is consistently being refined and improved.
I think the bottom line here is that you better have very very strong financial incentive or very strong career advancement incentive to uproot your family. You're kind of doing things in reverse here which is fine if you see the value.
To the haters/whiners that say "gee whiz why would anyone do that/pay so much to live there?", they've obviously never experienced the huge benefit of making just a lateral move from big market to small and reaping the rewards of lower cost of living. Not too mention in a place like NYC you are surrounded by highly intelligent people that will make you smarter and more experienced. All this obviously assumes you have a linear career/skill that is consistently being refined and improved.
I'm not a math wizard, but $75K *1.25 = $93.75K. I'm think you meant to say "double your current salary and add another 25%." If so, I agree with your assessment
I don't get this either. Now I might could understand moving away from MS to Tennessee/Florida/Texas where the jobs pay 50% more but the rent/tuition isn't 50% more (rough numbers but you get my point). Mississippi is a great place to live if you are settled/retired already, but for someone between 22-35 years old, the job prospects are atrocious for anyone living outside one of the few metro areas we have in the state (Which happens to be 3/4 of the state's population most likely).
I'm kinda looking at it from the same perspective as you. I think going away to a much bigger place to learn more can only make me more valuable when/if I return. With that said, my situation here is unique. When I graduated from state in 2008 I took a job at the bank and got tasked with a job no one else wanted, tax credit investments. Since then I've grown the portfolio from around $5 million to $100 million. A lot of these big northern banks need tax credit deals from the south because there are not many in NYC and similar places. So, my plan is to move get some management experience and then if I want come back at a senior position. My pay right now is outstanding compared to others my age but the bank I'm at will never let me move into management until I'm older. The bank I have the offer from is a little more progressive on that front, which is why I'm seriously considering it.
I'd rather love in Brooklyn even if I had the money to live in Manhattan. I've lived in 3 boroughs including 2 places in desirable locations in Manhattan and I enjoy Brooklyn more. People on here are embellishing a little. You can find a quality apartment in your price range wherever the hell you want to live, but simply googling "apartments in NYC" will assure you pay a huge markup. You have to be resourceful. I sent you a great website for that, and those are no fee places. Unless you're a Wall Street guy making insane amounts of money, people with young children don't live in Manhattan for the most part anyway. They live in Brooklyn or Queens. Most celebrities WITH money are living in Brooklyn now too.
But all things said about the public school system are true, and if you plan to stay for more than 5 years you'll probably end up moving. I'm in Long Island now with a great public school system, and if you forgot you were in New York State you'd think you were down south by all the wildlife, lifted trucks, and republican "vote for" commercials. But it sounds like you're using this as a bump on your resume and would be back down south in 5 years with experience in the financial hub of the US.
You will pay more for just about everything. When comparing it to Mississippi you'll rip your hair out. But it's not Mississippi, so put it out of your mind. You pay for what you get.
But all things said about the public school system are true, and if you plan to stay for more than 5 years you'll probably end up moving. I'm in Long Island now with a great public school system, and if you forgot you were in New York State you'd think you were down south by all the wildlife, lifted trucks, and republican "vote for" commercials. But it sounds like you're using this as a bump on your resume and would be back down south in 5 years with experience in the financial hub of the US.
You will pay more for just about everything. When comparing it to Mississippi you'll rip your hair out. But it's not Mississippi, so put it out of your mind. You pay for what you get.
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You are correct about brooklyn. It is definately the place to live. I like cobble hill and dumbo myself. I actually love alphabet city but that might not be the best place to live with a toddler. Subway access is shotty over there.
Assault Battery and Coma.
I'd live there if I was a single dude working in the financial district who moonlighted as a hipster, but everything about alphabet city is sketchy.
I like Prospect Heights myself. Really anything between there and Bushwick is fine with me. Each and every neighborhood has a good and a ****** part, but that little area in Brooklyn is pretty much okay. You don't have to pay Williamsburg prices but get pretty much the same thing.
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People are really inflating the prices here. I subletted a place in park slope a few years ago. Had a roommate and paid 700. Have a friend now that lives in bushwick and pays 1700 (850)for a decent 2br. As bad as NY is I spent a summer in Toronto and the prices there were way higher.
I agree that this thread is inflated price wise.
But you do have to remember this guy has a wife and an infant, so he can't exactly just live anywhere. I'd bet he could find a decent, safe place for <$2500/month.
I used to live in a high rise and young families were everywhere in my building. Definitely a different life than raising a kid in MS but totally doable. It'd be a fun adventure for a few years I'd think.
But you do have to remember this guy has a wife and an infant, so he can't exactly just live anywhere. I'd bet he could find a decent, safe place for <$2500/month.
I used to live in a high rise and young families were everywhere in my building. Definitely a different life than raising a kid in MS but totally doable. It'd be a fun adventure for a few years I'd think.
I would rent expect to run between $2500 - $3000/month consdering family space needs and reasonbaly safe area. Keep in mind that there will be other significant cost of living adjustments other than rent, some of which will be lifestyle preferences for your family.
Patrick Stewart lives in Park Slope and came under fire a little bit ago because he proposed they add a buggy lane next to the bike lane throughout Brooklyn.
It was obviously in jest, but my point is that there are a crap ton of parents with infants in New York. Not in Times Square or anything, but it's not crazy to have children in NYC. A significant amount of couples do.
My sister and her husband had a 2 bedroom with a kitchen that rivaled mine in Mississippi when they had just the one child and didn't pay anywhere close to $3,000/mo.
You don't have to pay heating costs because those are obsorbed into rent, electricity is extremely cheap compared to Mississippi rates (gas is infinitely higher), and people over exaggerate the every day costs too. Sure, a cup of coffee at Starbuck's is $0.30 cheaper in Long Island than Manhattan, but don't go to Starbuck's. Make your own damn coffee. Take your lunch to work. It's not THAT crazy.
I thought the same thing when I went to Hawaii. I went over there expecting things like Coke to be $5 for a bottle. It was marginally more expensive. Yeah, if I buy 100 Cokes a year that adds up, but people blow this stuff out of proportion.
You should really consider it. NYC is very cool and it sounds like a unique oppty. It will be Greta for your resume. You'll have experiences you won't get down here. With your daughter so young, you still have some flexibility. You will always be able to come back down South.
Rent and Food are your main drivers for cola. I know I was pleasantly greeted when I moved back down South to cheap food: groceries, restaurants, fast food, bars, you name it. Healthcare will probably be more expensive too for you on nyc.
Rent is by far your biggest percentage change cola wise. You want to be shrewd and resourceful in this category as esplanade mentioned because food and healthcare won't touch rent change obviously. Craigslist skills are key.
Food will be minimized probably due to your situation. If you brown bag it and have a family where you don't go out all the time, this is good.
Healthcare will vary depending on employer. Investigate benefits before making your decision, yada yada yada.
Going carless will save you money on gas, insurance, payments, maintenance, etc. However public transportation costs and plane tickets for 3 back home to see the mom and pop will probably eat that away.
Whole different lifestyle. But like I said an adventure. What story do you want to tell your kid in 15 years?
Rent is by far your biggest percentage change cola wise. You want to be shrewd and resourceful in this category as esplanade mentioned because food and healthcare won't touch rent change obviously. Craigslist skills are key.
Food will be minimized probably due to your situation. If you brown bag it and have a family where you don't go out all the time, this is good.
Healthcare will vary depending on employer. Investigate benefits before making your decision, yada yada yada.
Going carless will save you money on gas, insurance, payments, maintenance, etc. However public transportation costs and plane tickets for 3 back home to see the mom and pop will probably eat that away.
Whole different lifestyle. But like I said an adventure. What story do you want to tell your kid in 15 years?
This is correct. Worked for two companies in the area and spent plenty of time there over the years, although my home has always been in the south. It is very difficult to make the adjustment if you aren't from there and what you get for $3-4K up there doesn't compare what you get here for half of that in a monthly mortgage. It would be tough taking a baby up there, but not knowing your situation, if it is a temporary thing where you only have to be there a couple of years with the possibility of getting back home then go for it. I just know a few people that went the corporate route in Jersey from the south and hated it with a passion. Just my opinion.