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Who /biz/NYC here?

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>be STEM
>get offered job at a certain well-known financial institution in NYC
>read about high costs of living, etc
What would be considered a good median income for say, Manhattan; e.g. strong-middle class, wealthy?
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>>982263
I'd guess $300k+ for Manhattan middle class
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>>982263
well, usually your employee pays the living etc. this is the case with any "well-known" company in nyc and silicon valley. employers rarely have to pay rents, foods, cars etc.
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>>982263
college is useless and a business model buy bitcoin
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>>982301
You're an idiot and wrong
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>>982301
i meant employer pays. so make sure they your living before you move.
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>>982305
Literally my friend moved just to silicon valley for facebook, the company pays his rent, foods, gym, car and bicycle kek. Google does too in silicon valley. Same thing with every bank in Nyc.
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>>982312
>Every bank in NYC
OP here, is this real or bullshit?!?!? sauce pls
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>>982314
Ask them during the hiring process if they wont let you know, or ask some of their employers about their benefits. Most banks offer you great benefits on top of your base salary.
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>>982314
>>982319

I live in NYC and I haven't really heard of this being a thing...if you get a reasonably good job they'll pay you much more than you would get in any other part of the country, so it sort of works out. I'd say you need 80-100k/year to be lower middle class in Manhattan
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>be in NYC

Housing is the biggest expense. If you're starting out, early to mid 20's you can get by with roommates and get a room for about 1600-2k a month in Manhattan. Knock 400 off that if you want to commute from Brooklyn or above Harlem. Food isn't too expensive and it's actually cheaper to eat out for most dinners than get all the ingredients and cook yourself. You can get by relatively well on a base salary of 85-90k a year. You'll spend next to nothing for transportation because you won't need a car here. To truly live it well- bump your base to 120k or so. Then you can do a one bedroom, go out more, put more into your 401k, etc
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>>982312
>>982314

No banks pay for all cars/housing/bikes. Banks do pay for your dinner(usually 20-25 max) if you work late, typically after 6:30 or 7pm. And they will pay for a private car home if you leave after 9
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>>982314
How old are you? Most of my friends are early 20's and firms tend to give a decent relocation bonus.

Entry level positions and similar junior roles (couple of years of experience) were ~10-15k in finance and tech. Might be more or less depending on where you're coming from (and how old you are).

The answer to your income question would depend on age as well lol. For example I'm trying get on the corporate law track (160k starting) and that's decently high for someone my age.
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OP again

>>982360
So, no car, just rent and food? Using you numbers, lets say it was more or less 120K + bonus, is that good?

>>982365
this seems like shit to me. what bank is this? :^)

>>982384
>10-15k
is this for moving expenses?
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>>982410
OP, what major are you specifically?
What university?
And how did you get the job? Was it offered to you already while in college or did you apply or did an alumni hook you up

Please help a brother out in insight and advice
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>>982384
what school do you go to?
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>>982410
yep

>>982428
not in school atm, but applying this cycle (may defer a year)
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>>982419
STEM for major. Uni is not as important, with the exception of you getting into a top-tier uni. It's more about your major then anything else, from my experience. Job was offered while still at uni. Moreover I would say check your major, resume, and portfolio.
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>>982410
>120K + bonus

Depends a lot on prior pay/experience. If you're fresh out of school and your offer gets you into the bank through their new grad hire/learn program, you'll have an analyst title which usually pays in the 75-90k rage these days. Bonuses might put you up to 120 if you're in front office role.

>this seems like shit to me. what bank is this?
I've been in the industry for the last ~6 years and I do not know of a bank that does not provide dinner/cars home after office hours. A lot of firms do as well for white collar office employees(especially tech companies)
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>>982534
no, no, i meant it's a base of more of that plus a bonus on top of that. what you think?
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>>982534
>>982554
>Depends a lot on prior pay/experience.
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>>982514
How'd you get an offer like that anyway? Shoot out resumes? Aggressive searching, or just being noticed?
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>>982613
I could probably explain/help if I knew your current situation/major. However, assuming you are STEM. Polishing your resume and consolidating your portfolio are huge in the STEM field. A lot of my fellow peers ignore one or both of those things, which hurts them big time.
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>>982618
Half Psychology, Half Bio-Chemistry, in a Neuroscience program. Pretty challenging considering I had to take Anatomy, Neurobiology, 3 Chem. courses, Endocrinology, and 2 stats courses, so it's not like I did a jerk-off psychology major like a simpleton. 3.3 GPA mostly because of Chemistry. But I am interested in business because I don't want to spend the rest of my life as an academic.
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>>982410
First job? First job in NYC? Are you fucking kidding me, "Is that good?" Son, you've done and made it. You passed the tests. There will be assholes who look down on your age, your style, your money, but if that's where you're at -- fuck yes you're "good." You'll live more than comfortably and happily. Now, what do you actually want?

>>982360
This dude says some shit right, but doesn't know shit about the struggle. I know dudes who have made it work on 30k with 1.2k per month rent/utilities. Learning to cook is the biggest one here -- who the fuck you kidding it costs less to eat at diners? Your dad? Is that what you told him?

>>982357
> 80-100k to be lower/middle
Where in the fuck are you living? You could find a 2.2k apartment on the island, blow money on drinks and restaurants 2 days a week, take taxis, and still max out your roth IRA on 80-100. This dude is in fantasyland.
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>tfw know a bunch of kids in my hs class that are analysts
>tfw followed my dreams and became a chemist
>tfw they walk two blocks and they're home and I have to take the 1 train to the end and sleep in a futon in the basement of my parent's house
>tfw they literally make double my salary
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>>982689
Listen to this guy OP.
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>>982650
Honestly, if you are not going to be a Neurosurgeon or a Psychiatrist you should focus on Chemistry, but even then you will have to probably have get your Masters/PhD to get a job at a chemical company.

>>982689
So, 150k+/benefits/relocation bonus in NYC is good? I swear, NYC has the worst statistics on salaries. One median ranges from 30k-60k and then you look at Manhattan and the numbers get ridiculous. Glad to hear from real NYC'ers more and more. And yea, first time NYC'er, if I take it that is, cause I have other offers.
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>>982726
>So, 150k+/benefits/relocation bonus in NYC is good?

How many times do people have to answer his stupid question? first it's 80k being good, then it's 120k, and 150k. 300k is good too, and 700k is even better. fucking autists....

people here gave you some minimum numbers, anything higher is gonna be better.
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>>982689
>>982726
> cause i have other offers

Take them. You have shooting star written all over you.
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>>982702
Chemists make good money. What did you do wrong?
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>>982739
No idea, meme maybe? How anyway is not making money as a Chemist, I don't see it. Everywhere you look, Chemistry.

>>982735
Alright, alright, I hear ya, much appreciated.
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>>982740
> yea
> yah
> ya

looking forward to jumping you outside of the l
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>>982263
1. Live somewhere cheap.
2. Don't buy into their lifestyle.

It never lasts. Live as cheap as possible, save as much as you can while you're making bank, then bail for the south/midwest when the economy implodes and everyone that's living beyond their means kills themselves.
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>>982650
More elaboration /biz/bro: Focus on Organic Chemistry. Become the legal version of Walter White. Apply to Dow Chemicals, Dupont, etc etc. Need more? Go turn your toothpaste over, get company name. Look at your shampoo bottle, your Tylenol bottle etc etc. Chemicals are every damn where.

Always check the box: "Are you willing to relocate?" as Yes. Companies loves this and you may live in a shitty city, state, or country and not even know it. Apply out of state, don’t limit yourself.

Need experience? Go to all of your chemistry professors in college. Tell them you want to work for them in their lab for 3-4 months and will take minimum wage or work for free. Take note of the free part, cause in the STEM fields this is illegal, but may not apply to Chemistry. So, be careful, do your research. Get top names, letters, or whatever you need to verify you were in their lab and did work for them. Do this 2 more times. You not have 9-12 months of experience in the Chemical industry. Staffers are going to get mad wet when they see this on your resume.

Speaking of which...Staffers. They run the job placement industry now. Gone are the days when a manager, someone in your field, or a relevant person at the company you apply for will see your resume. Staffers will literally look at your resume for 1 minute or less and decide right then and there to either throw it in the trash or put it in the "other" pile. Clean you resume up.

Dress attire...If you refuse to shave your neck beard or cut your mad hatter hair. At the very least you should shower and deodorant. Your dress wear should include a black blazer and off-tone slacks, e.g. gray or even black if you have nothing else. You should be able to explain anything on your resume if questioned and always use buzzwords. You will literally be talking to someone who has no Earthly idea about your major in the interview.
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>>982726
>>983360
I appreciate the advice, but I really don't like Chemistry that much even though it's incredibly interesting. I had more success with Biology and Anatomy classes than chemistry, of which those classes are basically keeping me from ever graduating with Honors even if I ace all my shit. I'm taking some business classes after I finishing my major work, so I'd much rather pursue that then go straight into Chem, it'd be a really large time and effort investment for something that doesn't really come to me naturally.

Good advice on some of the hiring and preparation though.
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So which will make me the most out of graduation, guaranteed with no maximum cap? STEM (CS, Chemistry, EE) or Finance? which exactly
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>>984754
Biology is a bitch
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>>982747
this

I know a trader who still drives the same crappy car he drove as a student, lives in a modest flat despite having more in his personal investments than the flat is worth

still goes out drinking plenty, goes on trips with brokers etc.. This is in London though I'd assume the same would be true in NYC - you don't *have* to live in an expensive area
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>>984947
Chemistry is basically advanced math with obnoxious concepts attached, and pedantic teachers. I love statistics, but hate pure, hard, scientific math. I'd rather get involved in finance even if it involved math because it'd be more practical for personal life as well.
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>>982365

this is the closest thing to truth in this thread. JPmorgan intern last summer and they pay for your dinner if you stay after 9 pm not 630 >implying 630 is late

they also pay for lunch but thats it
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>>982410
I'm in a pretty similar situation to you, OP. I'm graduating with a STEM degree this month and got offered a six-figure salary at a tech company in NYC.

What kind of financial institutions offer STEM grads that much? High Frequency Trading firms? Bloomberg?
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>>985421
Every bank and financial institution offers this much. Finance is so software heavy now it's crazy. Not to mention, there are some pseudo-STEM areas whereby if you can read, understand, and articulate the massive amounts of regulations related to STEM (mostly security) you can make 70k+ starting.
Thread posts: 43
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