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Old 11-30-2010, 07:58 PM
 
Location: Minneapolis
7 posts, read 3,552 times
Reputation: 11
Default Moving to Manhattan or Chicago?

This question is for a friend, who is currently graduating college soon. Lets just say he has an Uncle who has a lot of "influence" in Chicago in Manhattan (Probably just in a couple of companies in each city, but still). Now because of his uncle his starting salary, yes starting salary, is going to be 250k a year! I know riduculous, especially since he barely graduated. So he is having trouble figuring out which city to live in. Since we are good friends I decided to help him out with this. The problem is that I want to move to nyc myself so I am a little too biased. Here is the budget I figured out for him based on the information he gave me:

Gross Salary: 250k Net Salary(After nyc taxes):$12,935.95 per month

Rent: $3,200 (He told me to search for "corner units" 1br)
Loans: $3,000/Month (He went to NYU lol)

Gym: $80 Metrocard: $80 Food: $100 Cell: $70 Heat/Electric: 150
Internet Cable: $100
Left over per week: $1040

Chicago: I am assuming everything is the same except that the rent would be about $2500/month and taxes are different. That means he would have about $1583/week.

Is Manhattan worth having five hundred less per week? I know that my family is lucky to have a hundred dollars leftover per month lol. Anyway which city would you go to if you were him? My opinion is still Manhattan, but if I was the one moving there maybe I would choose the cheaper option. Any input would be great thanks.
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Old 11-30-2010, 09:47 PM
 
Location: QUEENS NYC
442 posts, read 679,739 times
Reputation: 257
if he went to nyu he must already live in NY

chicago is the dumpiest place ive ever been, with that money are you seriously writing up a budget?

this whole thing sounds unusual
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Old 11-30-2010, 11:53 PM
 
Location: Confines of the 100 Precinct
9,679 posts, read 16,900,074 times
Reputation: 3411
yeah this thread sounds suspect.

a single person making $250K shouldnt need a "budget".

comparing the cost of rent in different cities is understandable.

but making an actual budget? nahh....you wont be living hand to mouth.
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Old 12-01-2010, 07:51 AM
 
Location: East Village
755 posts, read 1,196,226 times
Reputation: 279
I think your "friend" is bs'ing a little bit about "his" salary and is slightly green regarding the costs of things. Cell is going to be more than $70, if he has an iPhone or smart phone type device. Not to mention that take home pay will most likely be less because of insurance, 401(k), etc.

As another person pointed out, if he went to NYU, he should be familiar enough with the city to do his own research. Also, if he has such a wealthy, influential family, why does this kid have NYU debt up to his eyeballs?

Secondly, rent is going to be cheaper than $2,500 in Chicago—most likely closer to $2k or less for a 1 bedroom. (I considered it before deciding on NYC.)
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Old 12-01-2010, 10:58 AM
 
Location: Minneapolis
7 posts, read 3,552 times
Reputation: 11
Default Turns out he was lying

I asked him where NYU was in Manhattan and he said it was by Wallstreet. I am pretty sure it is located around Greenwich Village so he is definintely lying through his teeth. Another thing, I seriously doubt anyone would hire someone who took seven years to graduate college and has terrible gpa, even his "uncle". Anyway, I probably shouldn't trust anything this guy says from now on. Thanks for the answers anyway.
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Old 12-01-2010, 11:27 AM
 
Location: Staten Island, New York
3,163 posts, read 3,035,916 times
Reputation: 2732
NYU does have a presence a few blocks from Wall Street, although I, too, question the $250K salary.
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