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Old 04-07-2007, 08:07 PM
3,219 posts, read 5,653,788 times
Reputation: 1839


It's so very easy to overlook the single person earning less than $40K/year in these parts because of the affluence that overshadows that.

I'm in that lower earning bracket (less than $40K) with several years of expertise in my field and appreciate all those in that same type situation who make it work and are content. BTW: I reside in the Fort Lee area of Northern NJ.

It's all about living within ones means and NOT trying to be like or outdoing the Jones' in any aspect.

If one wants to live in the NYC market area and cannot afford an apartment on their own - just share an apartment, rent a room, or live with family.

This has to be mentioned: I know that living with family to certain people in society is beneath them or is unacceptable who also like to criticize ones who do - I've heard of people that are in this situation of this taking place.

Many people cannot even dream of purchasing in this market but yet they're living, doing okay and are happy.

I wish that many people would just get and be real - too many are living in a make-believe material and otherwise world. My attitude has always been to make due with what you have and if that's not good enough for some - that's just too bad.

Just be you and the heck with those who cannot accept that.
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Old 04-08-2007, 05:18 AM
2,591 posts, read 3,375,229 times
Reputation: 1293
There are also programs to help middle and lower income people to purchase real estate. We took advantage of one through HSBC. They give help saving for the downpayment, and provide below market rates on the mortgage. There are other programs around, but it takes looking.
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Old 03-06-2010, 12:20 PM
1 posts, read 9,004 times
Reputation: 17
what college graduates are turning away jobs that don't pay at least 80k a year???

Here is the reality of my experience living in NYC since graduating college 5 years ago:

I graduated with highest honors from a top 25 university known for being academically aggressive, i had 4.0 in my degrees (math and economics) with the award for best in the department, and 3.98 overall. I was also a research associate at Harvard business school and had worked summers at a firm overseas. I am fluent in 3 languages. When i moved to new york with my husband, it took nearly a year to find a job: and when i finally did, it was at an investment bank where i had to negotiate my salary *up* to 65K a year. I later learned that i was then making more than any one else at that level at the firm (including other ivy league graduates with impressive credentials). I since left to get my PhD and pursue an academic career, but I would love to know who are these brilliant college grads who would not even consider a job less than 80k, particularly in this economic climate?

Now as to the cost of living in NY:
My husband and I had a total income of less than 90K (he is an artist) - but we could afford to live in a nice one bedroom in an affluent neighborhood near central park, and have a decent life while paying off debt and saving a bit. (as well as some luxuries, theater, concerts, dining out from time to time....but no $500 jeans...). We have known a lot of single artists in their 20's and 30's that live very well on around 35k (or less) per year, even in Manhattan (with roommates) or the trendy areas of Brooklyn.

As a recent college grad, and New Yorker for the past 5 years, this is just what i've known. Maybe i'm missing something. But it sounds like the people on this board are speculating from a distance about things with which they really have no experience.
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Old 03-06-2010, 02:24 PM
Location: Houston, TX
1,141 posts, read 2,783,325 times
Reputation: 788
Originally Posted by beethoven2025 View Post
what college graduates are turning away jobs that don't pay at least 80k a year???

... it sounds like the people on this board are speculating from a distance about things with which they really have no experience.
Exactly. I had to laugh at some of these posts. Hysterical!
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Old 03-06-2010, 06:35 PM
214 posts, read 907,042 times
Reputation: 84
Most of the top computer science departments (MIT, CMU, Stanford) regularly report entry-level salaries of their graduates to now average around $75-80k. I know several that started well above $100k. But unlike investment banking and consulting, you don't have spectacularly high bonuses or successive raises.

But with that being said, most people should be realistic about their income and what they can afford. I make $83k, live in a very nice area (at least to me) of Brooklyn, own a studio apartment in an elevator building with laundry near the main drag of the neighborhood. I am not eating milk and cereal every night... but I am not going to Masa or Per Se for dinner, either. You just need to learn to live within your means.
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Old 03-07-2010, 01:47 AM
Location: NYC
1,734 posts, read 1,862,765 times
Reputation: 3332
Originally Posted by mayorofnyc View Post
Exactly. I had to laugh at some of these posts. Hysterical!
esp this one

Originally Posted by NickL28 View Post
Well making $89,000 as a single person in NYC would probably only get you a tiny studio apartment well out in Queens and you probably would have to rely on the MTA (Subways & Buses) to get you around.

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Old 03-07-2010, 02:46 AM
150 posts, read 349,571 times
Reputation: 65
well if you join NYPD you will make over $90,000 in 5 years on the job(i got over 10 years),but honestly if you think you are having a decent life after getting a phd by having a one bed room apt then your nuts. Hint,keep out of the trendy areas, you really want to live near drag queens etc?nice middleclass areas of brooklyn or queens much cheaper .I work for city so i have no choice but to live here,but when i get my fat pension in 8 yrs i am out. My $70,000 pension will allow me to have home,etc in most parts of the country but if i was avg person graduating school coming here to work I would get my foot in the door and then transfer to texas,etc. building your resume here helps but ultimately your overall quality of life will suffer and most young people wont be able afford nice homes in long island anymore. New york never has paid people enough to put up with all the costs .Think about it you have more min wage jobs in NYC then anywhere else. The key is get experience here and leave.financial jobs are relocating anyway. Cincinatti,even becoming financial center for jobs. As for Artists living well ,Most of my friends in college were struggling artists and living with room mates is not displaying success.
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Old 03-11-2010, 11:17 PM
Location: Manhattan
11 posts, read 52,778 times
Reputation: 12
Bit surprised by this thread - the difference in the statements is vast (and seemingly unrealistic in some cases... grads being able to demand 80k?!). Not saying I know what the average wage is here or which neighbourhoods are affordable - but Manhattan is certainly not cheap and you'd really need to manage your money fairly well. I am still living like a tourist and keep converting my dollars to pounds so am not really living within my means yet although now I certainly feel lucky with my salary, apt and lifestyle - not that materialistic things brings real happiness but it just makes life that little bit easier.
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Old 03-11-2010, 11:24 PM
Location: Manhattan
11 posts, read 52,778 times
Reputation: 12
PS AngelRocks - IMO you should not have to explain yourself to anyone in that way just because they jump to conclusions - (unless the aim is to be inspirational)!
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Old 10-01-2010, 01:48 PM
1 posts, read 7,800 times
Reputation: 18
it's true that some people on here seem to be very uninformed and throwing around mere observations not based on actual experience or fact. i am a semi-young (29 yrs) single woman living in NYC. i earn a little more than $70K/yr. I live in a brand new luxury doorman building in Manhattan, and am able to walk to work-- I have a great career with an equally great company. Honestly, I feel quite comfortable and content. And yes, I do have a roommate and I prefer it this way. NYC can be lonely, and it is nice to have someone to split the bloated costs of living. It works out for us. She happens to be a corporate banker my age who earns $200K. We are both considered 'minorities.' We are both 1st-generation college graduates, and are from working class backgrounds. We work hard and still have the time and means to go to the theater, the opera, and travel the world. We are able to save and still shop occasionally. Neither of us would choose to live anywhere else, and for me personally, I could never live in Florida (I have tons of family in Palm Beach so I know it well-- lack of opportunities, dull on every measure, oppressively hot/humid.) Many people in NYC make over $100K. Several of our contemporaries/friends not much older than us are making way more than that as lawyers, doctors, etc. And then there are many more people in NYC who live in public housing in the ghettos of each borough who drop out of school, have kids too young, etc. etc. I have a great life, but I have chosen to make it so, and I didnt get much in the way of breaks over the years. It really is all about choices.

Last edited by squashymoto; 10-01-2010 at 01:58 PM..
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