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Hey everyone!
I'm new to this site, but I came across it in my search for COL in Manhattan and possibly Brooklyn.
I am a recent college grad looking for a full-time job to bide my time for the year while I wait to hear back from law schools for fall of 2011. I have interviewed for a few paralegal/legal assistant positions, and they have all asked me my salary requirement. I don't want to overshoot and risk missing out on a job offer, so I've been saying between 35-40k (I understand this is the standard for entry level positions in this field). My question is, is it possible, with living with a roommate, to live in Manhattan on this salary, all factors considered? Or, would it be wiser to live in Brooklyn in a nicer neighborhood (if so, can anyone suggest any?).
Anyone have any ideas for a minimum base salary needed to live in Manhattan or a nicer Brooklyn neighborhood, preferably in a two bedroom apt with a roommate?
Thanks!
My roommate is a legal assistant and we live in Brooklyn, in Greenwood Heights. I think you're right on the ball as far as base salary, but don't forget that a ton of legal assistants make major overtime (sometimes working up to 80 hours a week), so hopefully you'll be having extra money on hand. Also, she has a two year contract with her company, and I'm thinking this is a fairly standard thing in NYC.
The rule of thumb is that you should make (and will need to make, in order to get your own lease, but if you're with a roommate or you move in with someone who already has a lease, then it's not exact) 40 times one month's rent, so if you're making 35k base then you can afford $875 per month in rent, which you can find a room for anywhere in Queens (Long Island City and Astoria are popular), and Brooklyn in parts of Park Slope, Greenwood Heights, Gowanus, Carroll Gardens (maybe), Fort Greene (maybe), Sunset Park (definitely, not as great of an area), Clinton Hill (definitely, very populated by students, not as great of an area IMO), Bed Stuy (definitely, has crime issues but some parts are better than others), and probably Williamsburg and Greenpoint as well. So you have a lot of options. I don't think it's likely you'll find anything/much in a desirable area of Manhattan. Brooklyn is great, though! Look on Craigslist. It's the best way.
Thanks for the advice! Super helpful...and it's good to know your roommate has a similar job and is able to live in Brooklyn in a nicer neighborhood. Gives me motivation!
Anyone else have any thoughts on living in NYC/Brooklyn on a 36-40k salary? Can it be done??
Sure, you can get by just fine. I've said this on here a number of times - NYC on 40k is not a "glamorous," movie-style lifestyle, but it's perfectly doable. Canyontothesky mentioned some good Brooklyn options, neighborhood-wise, though I'm not really sure you could afford Park Slope. I'd add Prospect Heights to the list, and maybe Crown Heights, too, though that area can be a bit more dangerous.
One thing, though - I tend to prefer the one-third of after-tax income rule to the 40x rule. In terms of leases, 40x is the standard, but I think that's more about what you could afford as opposed to what you should afford. Going by that, your ceiling is more like $750/month, which is doable in all the places canyontothesky mentioned except for Park Slope, Carroll Gardens and most of Williamsburg.
I mean, it's not like you'd be crazy paying $875 or anything, but if I were you, I'd rather have a bit more financial leeway. Just my two cents, though.
Going by that, your ceiling is more like $750/month, which is doable in all the places canyontothesky mentioned except for Park Slope, Carroll Gardens and most of Williamsburg.
There are definitely deals to be had in Park Slope. Not prime Park Slope, no, but south of 9th, perhaps. I don't live there anymore, my area is more like Windsor Terrace/Greenwood Heights, but I love it here, and I do pay that much in rent.
There are definitely deals to be had in Park Slope. Not prime Park Slope, no, but south of 9th, perhaps. I don't live there anymore, my area is more like Windsor Terrace/Greenwood Heights, but I love it here, and I do pay that much in rent.
That's true, and Windsor Terrace and Greenwood Heights are great areas in and of themselves.
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