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It's also not being stuck up. I agree. You should get your own place ASAP. I'm guessing some of these people are horrible with money as well. I mean it's not easy to run your own household, but I've managed. When I first started out, I'd just walk into a store, pick up what I wanted and really didn't shop around. Now I do. In their defense though I will say that things were a tad cheaper when I started out. I mean someone was talking about how I was b*tching about coffee being $4.36, but if I buy two of those as I do sometimes, then add a $1 tip, you've already spent $10+ right there for the day, and I usually get a snack with that. I usually do one coffee a day almost every day, sometimes two or three. When I did the math I was shocked to realize that I spend about $200 in coffee alone per month. These are the little pleasures that can creep up on you. Then there's food. I eat out a few times a week, and the rest I buy from Whole Foods or other specialty stores like Buon Italia. I stock up from Target and Vitacost online for organic cereal and other dry goods... Between that, Whole Foods and take-out... Easily $600+ a month, then coffee... Let's say ~$800+ total. I don't go crazy either, but my point is it all adds up. I'm sure I cook at home more than most people my age. I used to eat out a lot more, but I enjoy cooking and I also buy organic and specialty items, which are more expensive than conventional food.
I have seen a number of very nice brownstone unit (1 bedroom apartments) in Harlem, that are going for around $ 2,500 - $3,200/month. One particular 1-bedroom apartment was ~ $2,700/month, (1,100 sq ft) w/ a washer/dryer and backyard/patio. Not to mention, it was only 4 blocks or so from Central Park North. There is a wholefoods in the area, and lots of other shops, but I guess some would prefer to share a small apartment in other "trendier" parts of Manhattan or downtown Brooklyn.
Last edited by LovelySummer2020; 04-30-2018 at 12:58 PM..
I'm on the side of preferring to have roommates in the case that I'm friends with the roommates, that person isn't a slob or have particularly crap habits, and that everyone chips in to hire someone to clean once every week or every two weeks (drastically reduces any friction).
I have seen a number of very nice brownstone unit (1 bedroom apartments) in Harlem, that are going for around $ 2,500 - $3,200/month. One particular 1-bedroom apartment was ~ $2,700/month, (1,100 sq ft) w/ a washer/dryer and backyard/patio. Not to mention, it was only 4 blocks or so from Central Park North. There is a wholefoods in the area, and lots of other shops, but I guess some would prefer to share a small apartment in other "trendier" parts of Manhattan or downtown Brooklyn.
My first apartment was a one bedroom with a longggg hallway. Very large by European standards. My God... I got sick of having to clean all of the time. The kitchen floor had light tiles so every time I cooked... Had to clean the floor... Had a dishwasher, but I like washing my dishes by hand to ensure that they are clean. Bathroom had a WC with light floors, that needed constant cleaning too. My point is if you get a large studio that works just fine. I found myself spending most of my time in my living room. I sometimes even slept there because my TV was there. I had a large leather couch that pulled out and was almost as comfy as the bed in my bedroom. lol
The apartment was set up very old school. No TV in the bedroom. If my bathroom weren't connected to the bedroom, I probably would've rarely went down the hallway to it, so that's why I settled on a studio. I save at least $400 - 500 a month that way. With a linen closet and a walk-in closet I still have space left. Don't be a pack rat and buy only what you need and you can do just fine. It's a lot easier to clean (no long hallway to deal with).
No you're right, tech jobs are not stable. Its one of the most unstable job fields there are. I work in tech, not at Google or FB but a big advertising company. I've been here 6 years and thats rare in these type of fields.
One year is long in tech, most software developers work on contract basis so their income isn't consistent unless they have a lot of clients who are consistent with their jobs. But thats rare.
Only way you can make 100K consistently in tech is if you work at a big 4 company like Google, FB, Amazon, maybe LinkedIn at Senior position which is very hard to get. They don't give that to anyone, and those positions are rare in NYC.
That has not been my experience or the experience of any of my peers. Here is my career trajectory:
I worked at a didgial agency right out of college and the pay was crap. Agencies are known for not paying junior levels well. Worked at the agency for a few years then I lost my job when they lost a big client. Within 4 months I got a job working at a digital research firm. To note, the digital research job paid 2x what the agency paid me. Worked there for a few years moving from a client service role to client/account management role. It was in the account management role (at this point, 7 years post college) that I stated making over $100K. I stayed in that role for a bit and again jumped ship to two tech start ups (back to back) to try business development (which I hated). The first start up was ok but the product was “boring” and I overall didn’t like the company atmosphere so I left after a year. My boss at the second start up was bat sh*t crazy and known for being a loose cannon. Unfortunately I found this out after the fact and I got let go a few months into the job. Found another job within 3 months at a digital research company where I’ve been for 3 years. Truth is my current company has had some “organizational” changes- we’ve been sold and restructured - but I haven’t been impacted for a few reasons: high performer, likable, smart, highly capable, etc.
In all this time, since moving into an account management/sales role, I’ve never had an issue finding a job that would pay me a six figure base- and that is a base salary so it’s not counting my bonus or commission. I’ve only interviewed for one “big name” digital company, LinkedIn. All others were not names people outside of the digital media space would know but they are fairly established digital companies like BlueKai and AppNexus.
Again, my story is not unique becase I’ve made several work friends throughout my years and all can give a similar story.
However, I will note the following things:
- agencies don’t pay well unless you’re in senior positions
- start ups will pay well especially if you have a distinct and valuable experience but you have to roll with the punches and be able to adapt since they may change focus and strategy and you need to be quick on your toes to keep up. I understand that’s not for everybody
- start ups might be volatile but you can vet the opportunity carefully by understanding if their product or capabilities are unique (is the space they are playing in crowded with competitors? Do they offer something new or needed? Does the management team have experience? How well are they funded? Etc)
- there are several other tech compnies that are not start ups, that are not “big names” but are established in their space and pay well. I provided a link to the digital Lumiscape which outlines all of the key players in the space. The Lumiscape chart is a good place to start when researching a digital company, where they sit in the ecosystem, and what value they add to the ecosystem.
That seems to be the norm in Williamsburg and Bushwick too
Yes most of my coworkers live in Williamsburg, Bushwick, rent is expensive there also.
The cheapest I could find a 1 Bdrm in prospect heights area was 2500 about 7 months ago. That would mean my income would have to be 100k in order to make the 40% rule.
I originally wanted to move to Park Slope, cause I had a ex who lived there. Cheapest 1 Bdrm there was about $3500.
The amount of people who I know in NYC who make 100k, I can count on my two hands. I use to know more who did, but the tech sector has been hit hard by outsourcing jobs the last couple of years with the health care mandates after obamacare came about. A lot of companies preferred to outsource a job to a company in India/Bulgaria for a fraction of the cost, rather than pay an American 100k/yr.
That has not been my experience or the experience of any of my peers. Here is my career trajectory:
I worked at a didgial agency right out of college and the pay was crap. Agencies are known for not paying junior levels well. Worked at the agency for a few years then I lost my job when they lost a big client. Within 4 months I got a job working at a digital research firm. To note, the digital research job paid 2x what the agency paid me. Worked there for a few years moving from a client service role to client/account management role. It was in the account management role (at this point, 7 years post college) that I stated making over $100K. I stayed in that role for a bit and again jumped ship to two tech start ups (back to back) to try business development (which I hated). The first start up was ok but the product was “boring” and I overall didn’t like the company atmosphere so I left after a year. My boss at the second start up was bat sh*t crazy and known for being a loose cannon. Unfortunately I found this out after the fact and I got let go a few months into the job. Found another job within 3 months at a digital research company where I’ve been for 3 years. Truth is my current company has had some “organizational” changes- we’ve been sold and restructured - but I haven’t been impacted for a few reasons: high performer, likable, smart, highly capable, etc.
In all this time, since moving into an account management/sales role, I’ve never had an issue finding a job that would pay me a six figure base- and that is a base salary so it’s not counting my bonus or commission. I’ve only interviewed for one “big name” digital company, LinkedIn. All others were not names people outside of the digital media space would know but they are fairly established digital companies like BlueKai and AppNexus.
Again, my story is not unique becase I’ve made several work friends throughout my years and all can give a similar story.
However, I will note the following things:
- agencies don’t pay well unless you’re in senior positions
- start ups will pay well especially if you have a distinct and valuable experience but you have to roll with the punches and be able to adapt since they may change focus and strategy and you need to be quick on your toes to keep up. I understand that’s not for everybody
- start ups might be volatile but you can vet the opportunity carefully by understanding if their product or capabilities are unique (is the space they are playing in crowded with competitors? Do they offer something new or needed? Does the management team have experience? How well are they funded? Etc)
- there are several other tech compnies that are not start ups, that are not “big names” but are established in their space and pay well. I provided a link to the digital Lumiscape which outlines all of the key players in the space. The Lumiscape chart is a good place to start when researching a digital company, where they sit in the ecosystem, and what value they add to the ecosystem.
You work in account, I work in tech so our perspectives might be different.
I know accounting is more client specific though. And clients in advertising don't stay with the same company for long. I work at a big Omnicom agency, and we had a big round of layoffs this year after we lost the contract with two clients.
And I agree the only positions here that pay above 100k are senior positions, but we all know in advertising and in tech there is a problem with age'ism. There aren't that many senior positions compared to junior and midlevel ones.
Yes most of my coworkers live in Williamsburg, Bushwick, rent is expensive there also.
The cheapest I could find a 1 Bdrm in prospect heights area was 2500 about 7 months ago. That would mean my income would have to be 100k in order to make the 40% rule.
I originally wanted to move to Park Slope, cause I had a ex who lived there. Cheapest 1 Bdrm there was about $3500.
The amount of people who I know in NYC who make 100k, I can count on my two hands. I use to know more who did, but the tech sector has been hit hard by outsourcing jobs the last couple of years with the health care mandates after obamacare came about. A lot of companies preferred to outsource a job to a company in India/Bulgaria for a fraction of the cost, rather than pay an American 100k/yr.
Why can't you do a large studio?? Seriously... Do you have to live in the trendiest parts of Brooklyn to feel like someone? I could point to several nice areas of Brooklyn. Bay Ridge is fantastic. Plenty of bars and night life, restaurants, express bus AND ferry to Manhattan, etc. You could get a studio for around $1600. Renovated one bedrooms are around $1900 and up. Forest Hills is another fantastic option. LIRR and express buses to Manhattan. Austin Street has plenty of stores, though the restaurants aren't that great IMO. Similar prices to Bay Ridge.
I don't know. I just think the whole thing is foolish. I live in a beautiful neighborhood. I don't put up with the BS that happens with the subway. I have a peaceful commute into my office. Park Slope is nice, but the Q train is what it is. Crowded, and lots of homeless people.
Last edited by pierrepont7731; 04-30-2018 at 02:30 PM..
Yes most of my coworkers live in Williamsburg, Bushwick, rent is expensive there also.
The cheapest I could find a 1 Bdrm in prospect heights area was 2500 about 7 months ago. That would mean my income would have to be 100k in order to make the 40% rule.
I originally wanted to move to Park Slope, cause I had a ex who lived there. Cheapest 1 Bdrm there was about $3500.
The amount of people who I know in NYC who make 100k, I can count on my two hands. I use to know more who did, but the tech sector has been hit hard by outsourcing jobs the last couple of years with the health care mandates after obamacare came about. A lot of companies preferred to outsource a job to a company in India/Bulgaria for a fraction of the cost, rather than pay an American 100k/yr.
My experience is wildly different from yours. Ive not heard of any outsourcing with the companies in my space
The biggest threats are with being acquired or having a change in business direction and losing your job becase of it. Other than that, I’m constantly getting recruited and from time to time listen to recruiters to hear what roles are around and what they pay.
You work for an angeny, right? Are you a media planner or buyer? Or something else like strategy, analytics, creative? Do you work for one of the big holding companies like WPP? Or is it a small agency? Sorry for the questions, especially if too personal. I’m just shocked that my experience is so different. It’s not just me. It’s me + my network of industry friends. Maybe you should jump ship to a vendor. My financial standing changed dramatically once I left the agency and went to go work for one of the vendors that called on the agency. Vendors are *always* looking for ways to better penetrate agencies and often try to poach someone with an agency background.
You work in account, I work in tech so our perspectives might be different.
I know accounting is more client specific though. And clients in advertising don't stay with the same company for long. I work at a big Omnicom agency, and we had a big round of layoffs this year after we lost the contract with two clients.
And I agree the only positions here that pay above 100k are senior positions, but we all know in advertising and in tech there is a problem with age'ism. There aren't that many senior positions compared to junior and midlevel ones.
Ah! Ok that makes sense. Yes on the account side we are part of the revenue generating side so they can justify a larger salary because we make the company money. The larger the portfolio we manage, the more we can make. And yes, on the tech side there would be more issues with outsourcing. I see your challenge despite working for one of the Omnicom shops. Jumping to a vendor wouldn’t help you either as it did in my case. I understand you are in a “stuck” position trying to make it above $80K - although $80k is respectable.
Despite that though, you still might want to look at some of the companies that are in the tech space and service agencies. Even if conversations are exploratory. Quite a few of these are nyc based and/or have large offices in nyc. The Display LUMAscape Explained
I'm on the side of preferring to have roommates in the case that I'm friends with the roommates, that person isn't a slob or have particularly crap habits, and that everyone chips in to hire someone to clean once every week or every two weeks (drastically reduces any friction).
I hate to live alone in a small or a big apartment or a house. Throughout my adult life, I rarely spent a night alone by myself in any apartment or house, except in a hotel room for business reasons. If I were single, I would prefer to share an apartment with others, the more the merrier.
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