liltrdr - cost of living is certainly a factor (among others).
When I worked in NYC about 6-7 years ago, my apartment cost $3K/month. It wasn't a crappy studio though - two bedrooms with walls of glass and a view of the harbor and the Statue of Liberty.
But by the same token, at the same time I could have rented an enormous penthouse in Chicago for the same money. Regardless of whether it's a "crappy studio" or not, overall it's reasonable to expect that the NYC cost of living is at least twice as much as somewhere like Chicago. Also have to factor in tax differentials - NY/NYC taxes are more than twice as much as in someplace like Chicago.
The overall differential is less when compared to places like San Francisco, Washington DC (not a financial center, just including it to highlight that all things are relative), etc. So it depends on where you're moving from.
Might or might not be of concern for you in the short term, but there's also the issue of quality of living - not just cost of living.
For instance, consider things like if you're going to be working down in the Wall St. area but can't afford to or don't want to live near there, do you want to look forward to everyday cramming yourself (along with the great unwashed masses - and I mean that literally in this case) into the subway to and from work (NYC's subway is personally my least favorite subway of any major city). Or if you live "off island" and plan to drive, fighting your way through truly horrendous traffic (then also factor in cost of parking and high auto insurance).
Except for Hong Kong, NYC is also the only place where I've routinely seen a vortex of swirling garbage whipped up by the wind and visible out a window on the 6th floor. After having lived there for several years and working in the Wall St area, I can tell you that I much prefer to just visit it.
But if you've got a great opportunity that'll advance your career, you can usually put up with almost anything for a few years. Just be sure you fully understand what you're getting into so that you're up for it. And who knows, you might end up being one of the "I love NYC" crowd afterall.
Good luck.
When I worked in NYC about 6-7 years ago, my apartment cost $3K/month. It wasn't a crappy studio though - two bedrooms with walls of glass and a view of the harbor and the Statue of Liberty.
But by the same token, at the same time I could have rented an enormous penthouse in Chicago for the same money. Regardless of whether it's a "crappy studio" or not, overall it's reasonable to expect that the NYC cost of living is at least twice as much as somewhere like Chicago. Also have to factor in tax differentials - NY/NYC taxes are more than twice as much as in someplace like Chicago.
The overall differential is less when compared to places like San Francisco, Washington DC (not a financial center, just including it to highlight that all things are relative), etc. So it depends on where you're moving from.
Might or might not be of concern for you in the short term, but there's also the issue of quality of living - not just cost of living.
For instance, consider things like if you're going to be working down in the Wall St. area but can't afford to or don't want to live near there, do you want to look forward to everyday cramming yourself (along with the great unwashed masses - and I mean that literally in this case) into the subway to and from work (NYC's subway is personally my least favorite subway of any major city). Or if you live "off island" and plan to drive, fighting your way through truly horrendous traffic (then also factor in cost of parking and high auto insurance).
Except for Hong Kong, NYC is also the only place where I've routinely seen a vortex of swirling garbage whipped up by the wind and visible out a window on the 6th floor. After having lived there for several years and working in the Wall St area, I can tell you that I much prefer to just visit it.
But if you've got a great opportunity that'll advance your career, you can usually put up with almost anything for a few years. Just be sure you fully understand what you're getting into so that you're up for it. And who knows, you might end up being one of the "I love NYC" crowd afterall.
Good luck.
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