As an it director that will be moving cross country from a much less expensive city, what should be the base salary to live in Manhattan? I'll probably get a 2 bedrooms.
Good question. I'm by myself. So family of 1.
For an IT director, who lives by himself I would think 150k should let you live comfortably but you would be spending over 40-50% of your monthly take home pay in rent. Which imo is ridiculous. If you can afford the down payment then you should try and buy a studio or a 1 bed. There are still deals to be had if you move at NY pace. Don't waste your money on rent just because you're single and can afford to blow it (not saying you would but know many people who do and regret later) But don't live in Jersey City and Hoboken - I've lived in both cities - and used to take the 15 min boat to my office on Wall Street. Amazing commute but life sucks if you don't have a social group around where you live. I would say find out where your peers who are single live there. And try to live nearby so you can at least go out when you want. My choice would be to stay in Manhattan and just a subway ride away.
120k is viable
For Jersey...
Yeah not for NY. Manhattan... I'm just scared 120K. Won't be enough. Finding a decent place at 3k a month is like normal. 120k-46%=64800 - (12x3000)= 32200 Is it me or this is very low to live in this area?
For a 2BR (which is a huge luxury for one person in Manhattan) I would be saying 160K+ if you want to live in the city, more if you want anything resembling the size of a 2BR in a less dense area or amenities like in-unit laundry, less if you're on board with a long commute and consider NJ or further out in Queens or Brooklyn.
That's exactly what I tought. I'll have to negotiate that. I hate commuting and loosing so much time.
My girlfriend and I just moved to the upper west side in a very nice 1br/900sq ft place and we pay 2750 for it. It doesn't have an elevator but we are only on the 2nd floor.
Look at Jersey City & Hoboken can still find some good deals. plus the Jersey City waterfront is really quiet and peaceful if you want to be able to escape from the craziness of Manhattan once in a while.
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Do you have kids? Family? How big a family are you moving with?