Does it help to work in NYC?
- Thread starter windsorphd
- Start date
:eek: LOL that's hilarious. You gotta respect the latitude of characters in NYC. Rarely a dull moment. Stuff movies are made of.
It's obviously not for everyone, I know some of you old folk need the boonies where everything shuts down at 9pm and the new Walmart is the hot talk of town for months.
You don't need a car, but the subway is hardly a pleasnt commuting experience. It's $76/month for a metro card, but I'd say the time you spend commuting will essentially offset any gains you make by not having a car in suburbia somewhere.
You don't save time at all living here, and I live right next to central park. You won't save time because: either you pay delivery fees for grocery to be delivered to you, or you waste time lugging groceries around. The cost of everything goes up because the real estate costs are factored into all the prices in Manhattan. There is no Wal-Mart -- just lots of small non-chain stores that price things much higher.
I pay $1500/month for an apartment (500sq ft) on the west side that's 1 bedroom and a pre-war building. It is hardly luxurious and it's somewhat of a hassle to deal with the issues of an old building. Not to mention there is no elevator, so I walk up to the 5th floor. That's what you get for $1500, and it's a substantial reduction in quality of life.
I was trying to save money, but I think I made a mistake. Really, a sane place to live in Manhattan outside of Harlem is $2200/month minimum. Brooklyn gets you more for $1500, but your commute time goes up substantially and your subway ride becomes longer.
Honestly, this place is really hyped up. I think the hype comes from TV shows that have glamorized the lifestyle here, but the lifestyle here [clubs, night life] isn't really all that suited for someone who lives a straight-edge lifestyle and really just wants to make a buck. Also, a lot of jobs require that you wear a suit and tie. So what happens is that your dry cleaning costs go up.
I think I made a huge, huge mistake moving to NYC. As far as networking, ... no one who's making any real money will network with you for anything. It's a cut-throat environment, and for as many jobs as there are, most of the ones worth having require some elite credentials.
The only thing I can say is -- it really depends on the person. I'm not particularly outgoing and don't enjoy socializing. In fact, I downright hate people but love technology. If magical doors really do open up for social people, then consider my perspective null and void. But nothing has happened in NYC that makes me say my life has improved.
If anything, I will state the following:
- I've never made as much money as I have in NYC before
- I've never lived a shittier quality of life
- I'm very fiscally responsible
So the end conclusion is: The money that you make here in most jobs is not enough to offset the degradation in quality of life that you'll undoubtedly encounter if you make ANYTHING less than $200,000.
I lived on the upper west side for 2 years in a brand new building, the first time we spoke to our neighbor who had moved in the same month as I did was the week we were both moving out lol. The city is made for people who hate people, where else can you be amongst 2 million others and still feel comfortably alone everyday?
Quote from illiquid:
I lived on the upper west side for 2 years in a brand new building, the first time we spoke to our neighbor who had moved in the same month as I did was the week we were both moving out lol. The city is made for people who hate people, where else can you be amongst 2 million others and still feel comfortably alone everyday?
I live on the UWS also.
The other day, I gave a bum some money because it's the holidays and all, and the guy thought I wanted sexual favors from him. I was like, "Damn guy , I just gave you 50 cents. Do people expect sexual favors for 50 cents?" The girl I was with asked why I even talk to the homeless around here.
See? People are so starved for $ in this city that bums think you want sexual favors when you give them change in your pocket. That's a sign.
The pan-handling on the subways and the fake crying of homeless people also causes you to wonder why you left the quiet solitude of the small towns in the mid-west.
Move to south florida, or any other "pleasure" location if:
i) you are a lazy, backsliding workshy loser
ii) you work in the modelling field, or as a waiter, pleasure-boat staff member, etc
iii) you think avoiding noise, stress, parking tickets etc is more important than a 50-100% boost in your salary, and several million more in lifetime earning potential
iv) you think there is no advantage in terms of networking, energy, inspiration, information etc from being in one of the top cities in your industry
v) you like being stuck in a moribund cultural backwater
vi) you are already financially set, and looking more towards retirement and "quality of life" than career potential.
Otherwise, move to NYC, Chicago, London, Hong Kong & other centres of financial excellence, like every other person serious about making it in the trading industry.
i) you are a lazy, backsliding workshy loser
ii) you work in the modelling field, or as a waiter, pleasure-boat staff member, etc
iii) you think avoiding noise, stress, parking tickets etc is more important than a 50-100% boost in your salary, and several million more in lifetime earning potential
iv) you think there is no advantage in terms of networking, energy, inspiration, information etc from being in one of the top cities in your industry
v) you like being stuck in a moribund cultural backwater
vi) you are already financially set, and looking more towards retirement and "quality of life" than career potential.
Otherwise, move to NYC, Chicago, London, Hong Kong & other centres of financial excellence, like every other person serious about making it in the trading industry.
People who are serious about trading know that you can't accomplish everything by yourself alone. Or rather the full potential of what you can achieve is not best unleashed working alone.
Working formally or informally in packs is superior. And people of talent in markets tend to congregate in big expensive cities.
This is probably the strongest reason for a trader to be in a major city - but then we're talking about playing in a much bigger league than most day traders.
That said, people have built trading operations far from big cities, so it is not impossible.
Working formally or informally in packs is superior. And people of talent in markets tend to congregate in big expensive cities.
This is probably the strongest reason for a trader to be in a major city - but then we're talking about playing in a much bigger league than most day traders.
That said, people have built trading operations far from big cities, so it is not impossible.
Someone gets it.