HIGHLIGHTED
Posting as :
a Manager 2
It is good but it is not amazing. Lot of people here underestimate just how expensive NYC can be. If you are willing to live in Jersey or in an inconvenient part of the outer boroughs then $500k will go far. If you want to live in Manhattan, that is a different story.
Posting as :
a Senior Managing Director 1
It's better than $400K, but not as good as $600K.
Posting as :
a Senior Software Engineer 1
Probably the most accurate response here
Recent
Posting as :
a Manager 1
Fine if you are okay eating rice and beans.
Posting as :
Accenture 1
š§ is this a real question?
Posting as :
a Lead Solution Consultant 1
Yeah if you live in a dirt floor hovel
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Posting as :
a Senior Consultant 1
Wait why is everyone crapping on this one, I can see instances where itās not enough even if not living lavishly
Posting as :
a Manager 3
How?
Posting as :
EY 3
Sell or eat the other 3 and then you have a much more manageable situation
Posting as :
a Program Manager 1
@Mckinsey Hire him/her
Posting as :
ZS Associates 1
I was born and raised on a $60k salary in a family of 4. I think youāll be okay lol
Posting as :
EY 4
This is from 20 years ago. So donāt forget to add lots and lots of inflation.
Posting as :
a Senior Associate 2
P1 or hereās a solution, and Iām just spitballing crazy ideas here, you donāt have to live there. Sounds like a lot of misery just to say you live in NYC.
Iāll take my 20 min commute and 5 br house that i own on less than 500 Hhi over killing your self to live in a shoebox and never see your kids
Posting as :
a Senior Associate 1
1M is the new 500k.
Posting as :
Accenture 2
I wonder how some people get dressed in the morning.
Posting as :
EY 4
One leg at a time, but after my pants are on, I make hit records.
Posting as :
a Director 1
Is the 500k pre or post-tax? NYC hits you hard with income tax. Moving fresh into the area, will be expensive, especially if you want to live where there are good schools.
I make in the 400k range in a MCOL city. I had an offer for mid 500k range in NYC. My wife doesn't currently work. We decided to pass on the offer when I started looking at the impact of state and local taxes, cost of housing, commute to downtown, etc. YMMV but it wasn't worth it for us.
Posting as :
EY 5
NYC as in Manhattan? Or NYC as in one of the other 4 boroughs of NYC, like the Bronx?
3 br rent in Manhattan is like $7k a month. You could do it in Manhattan but you either:
a) wouldnāt save very much
Or
b) would put your kids in public school
Posting as :
EY 2
Damnā¦
Posting as :
KPMG 1
Wow Iād love that income
Posting as :
Accenture 3
In NYC proper?!! You'll live half decently, but be prepared to save ZEEEEROWWWW.
Posting as :
Deloitte 2
No. Even if you made $1Mā¦with a family of four youād barely scrap by. I donāt know how youāre doing it now manā¦prayers to you and your family š
Posting as :
a Senior Associate 1
Scrape what gold?
Posting as :
a Managing Director 1
Do you have any debt that you canāt pay off before moving to NYC? Car payments, student loans, other loans, credit cards, etc? If so, $500k is not enough. If not, you can likely swing it but it definitely wouldnāt be as carefree as living in the suburbs at that income level. Itās all about the things that are important to the type of life you want to live.
