New Grad with two options, Miami or New York....HELP!!! (South Beach: apartment, rental)

[Juanito109]

Hi! I am recent grad of FIU and I have two choices on were to start my professional life. I have a job offer from a large bank and they gave me the choice to either stay here in Miami or move and work in New York. This is a tough call for me as I have been living in Miami all my life and I love it here, and everyone i know and love lives here, and I dont know a soul in New York! but i also really want to try something new. Were would be the best place to start a career? Any advice would be great.

Things I am taking inter consideration;

Cost of living
Rent
Opportunity
Social life
ect.

FYI My base salary is around 60k a year

[planetsurf]

60k in NYC is kind of a base for existing without a roommate. In addition to rents/general cost of living, taxes are tons higher there. Also, just finding an apartment is a chore and expensive up there. Key fees, deposits, you need some starter cash. (Oh, and forget about a car, right?)
That being said, NYC is amazing! What a great place to live when your young.

Would it be possible to start your career in NYC, work your way up and then eventually transfer back? What about the other way, start out in Miami, but look to transfer to NY in a few years.

I'm a firm believer that EVERYONE should get out of Miami at some point in there young life. If it isn't for college, then right out of college. This might be your opportunity.

Good luck -- what a great adventure you're starting on!

[bale002]

Originally Posted by Juanito109

Things I am taking inter consideration;

Cost of living
Rent
Opportunity
Social life
ect.

FYI My base salary is around 60k a year

The biggest concern is only $60k a year because the rent and general cost of living will be higher in NYC. You probably could not live in Manhattan alone at that level, maybe with a roommate in a tiny apartment. Otherwise you are looking at Brooklyn or Queens and a quite possibly a lower quality of life. Being alone in those circumstances could be rough, but all it takes is one or two good people to make a difference in your life.

Perhaps more importantly, in terms of opportunity and in view of your youth, you are probably better off in New York. So it may all depend on how ambitious and confident you are.

Other things being equal, however, at parity of income, you would be better off in Miami in terms of not risking your quality of life.

In short, if you are ambitious, go to New York. If successful, you will have many options, including coming back to Miami from a position of strength. If it goes only so-so, you could always come back to Miami anyway without having lost much, if anything.

Nothing ventured, nothing gained.

Hope this helps.

[burgler09]

If you grew up in Miami all if your life I gotta say go to NYC. How boring to have only lived in one place your entire life. Try something new, if you hate it you'll find a way back.

[Sun&Sea]

For a young recent grad NYC is THE PLACE to be!! There is no better city to start a career. It's big, vibrant, exciting, diverse, full of opportunities, interesting people, great culture, pretty safe, etc. etc.

Yes, it is also ridiculously expensive, and to find a decent rental apartment is a headache, but I think with 60K you will be fine. You will probably have to rent in Queens or Brooklyn, but there are great parts of both and the commute is easy! The only down side (IMO) is the cold and long Winters... But for up to 5 years is bearable!

Good luck deciding! Either way you will be sucessful and happy, I am sure!

[nicsma2002]

I think if you've been in Miami all your life, it's good to get out and "see the world" as much as you can. Great way to expand your horizons. I say if you can swing it, go to NY... you can always come back!

[crisp444]

Juanito, please check the NYC forum because I have posted a detailed response there. (He asked the same exact question on both boards and I saw it first there)

[Juanito109]

you guys have been great thanx for all of the responses, and thanx for being so honest. Ill keep the forum updated with anymore questions I may have and my final choice!

[BevoInPA]

I lived in both and would not recommend NYC on $60k. I sincerely believe you need to be making $100k there. My only objection to Miami is the shortage of young professionals and organizations for them. Miami rents are significantly lower for much nicer housing. I rented a 1-bedroom condo with 1.5 baths in the Cosmopolitan on 1st Street in South Beach for $1,900. A similar quality unit in a neighborhood of similar appeal in NYC would be at least $3,600, probably $4,000 considering I had parking.

[DCkid]

New York is expensive! I have a friend in New York who makes well over six figures. He's about 27 years old. He doesn't own a car and lives in a studio. BUT HE LOVES IT!

Point being, people have there own needs and preferences. I think you'd have a better opportunity in New York because of the networking opportunities that you will have. But you will have to give up a lot just to make ends meet. But trust me. You won't be the only one. Some people just live for that New York lifestyle.

Believe it or not I was in the EXACT same situation as you earlier this year. I graduated recently and had the same choices but I chose to stay just because I'm a southerner and prefer a more laid back lifestyle. Plus its cold in New York. lol It all depends on your preferences.