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      06-01-2011, 01:29 PM   #1
Edward
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Better to live in Manhattan or LA?

I've grown up in OC, lived in West LA for a while now (just turned 28 and also went to university here). I've always wanted to move to Manhattan even if for just a part of my life. I know people make the move both ways quite frequently, but I'm getting very tired of LA. The lifestyle bores me even though I have so much fun every single weekend with my friends.

Problem is, I'm 28 now and I feel like NY is more fun when you are younger. I'm not getting any younger and in fact am planning on getting married sooner or later to the next gal I dig that way. Everything is geared towards young people who are single and have jobs but want to have fun also. I also love not needing a car and walking everywhere. Just don't want to jump on the whole "move to manhattan" boat 4 years later than I should have.
I work in finance at one of the big ibanks doing corp pension asset mgmt and didn't have a good enough leg into something similar or different through the market crash (lucky enough to have held my job while everyone got massacred thru mid 08-early 09). Anyhow, now I can either move to our NY offices and take my rolodex with me and make exactly the same amount of money while inreasing my living costs by a ton, or I can leave this one and try to get a new one, but end up leaving a significant amount of deferred comp on the table that most other firms would never replace for me. Plus I'd have to sell my new car that I just bought.

Is it worth pushing against all cons and making decisions by the seat of my pants? or should I stay put and not be an idiot?

The only other viable opportunity I'd have to move to Manhattan is for B school if I ever went to Columbia or NYU parttime while also working. At least, then I could justify increasing my COL without matching it on comp.

I just keep catching myself thinking "you're a moron Ed. much of manhattan is trying to leave to come out to LA and be exactly where you are right now."
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      06-01-2011, 01:33 PM   #2
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      06-01-2011, 01:35 PM   #3
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LOL. it's home to me bro. It's not quite as black and white. If I were a wealthy freelancer of some sort, it'd be perfect. I'd live in the west village from March-June and Sept-November and the rest of the time I'd chill out in LA.
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      06-01-2011, 01:37 PM   #4
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NY is super expensive. Its loud, it smells and women are ugly.

You will have fun at all the clubs and bars, etc. But you will be constantly broke.

From financial stand point, not knowing what our future economy has to be bring, moving to NY will simply be dumb!
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      06-01-2011, 01:38 PM   #5
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LOL women in NYC (or any major city) ugly? Far from it...
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      06-01-2011, 01:47 PM   #6
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Some people really love NYC and some really hate it! I hate it. I agree its dirty, noisy, uncomfortable to live in, has lots of rude people, and women are definitely ugly in Manhattan. I say stay in LA!
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      06-01-2011, 01:49 PM   #7
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Wonder what Manhattan people have been to...didn't find anyone particularly rude nor the women particularly ugly in my travels...whatever

They're certainly not Californians, but after all of those that I encountered in undergrad I see that as a positive
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      06-01-2011, 01:51 PM   #8
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Let's face it...there are hot women on all major coastal and non coastal cities. They are just of a different breed. I happen to prefer east coast girls for their demeanor and effortlessly natural overall look. But women are only a small part of why I am even considering. NY is absolutely dirty but that city keeps you sharp minded. My brain atrophies around the industry types and bimbos here.
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      06-01-2011, 01:55 PM   #9
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Quote:
Originally Posted by KGB7 View Post
NY is super expensive. Its loud, it smells and women are ugly.
This. But I wouldnt say they are all ugly, just the good majority of them. Its more unappealing to me because the people are rude in NY.
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      06-01-2011, 01:57 PM   #10
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Quote:
Originally Posted by Edward View Post
Let's face it...there are hot women on all major coastal and non coastal cities. They are just of a different breed. I happen to prefer east coast girls for their demeanor and effortlessly natural overall look. But women are only a small part of why I am even considering. NY is absolutely dirty but that city keeps you sharp minded. My brain atrophies around the industry types and bimbos here.
How exactly do cities keep you sharp minded if you want to live in the most expensive city in US and always be broke??
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      06-01-2011, 02:05 PM   #11
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Originally Posted by KGB7 View Post
How exactly do cities keep you sharp minded if you want to live in the most expensive city in US and always be broke??
Who said anyone was broke? I'm not sure if you are working yet or not, but people are a product of their environment. People thrive around other bright people. The brain trust held within the confines of high finance in NY are far superior to that in the west coast.
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      06-01-2011, 02:15 PM   #12
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Who said anyone was broke? I'm not sure if you are working yet or not, but people are a product of their environment. People thrive around other bright people. The brain trust held within the confines of high finance in NY are far superior to that in the west coast.

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Originally Posted by Edward View Post
Anyhow, now I can either move to our NY offices and take my rolodex with me and make exactly the same amount of money while inreasing my living costs by a ton, or I can leave this one and try to get a new one, but end up leaving a significant amount of deferred comp on the table that most other firms would never replace for me. Plus I'd have to sell my new car that I just bought.

Is it worth pushing against all cons and making decisions by the seat of my pants? or should I stay put and not be an idiot?

Your words, not mine.

You might not be broke per-say, but increasing your spendings by that much is close to being broke.
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Last edited by KGB7; 06-01-2011 at 02:21 PM.
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      06-01-2011, 02:24 PM   #13
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My words are fine, but your brain misinterpreted them.

I bought a car. I would not sell it to finance a move to a new city. I'd sell it because I don't NEED a new BMW in NY. Perhaps I could have clarified. I could easily just take my car and store it and let it rot while I don't drive it.

The exact same amount of money I make right now is not by any means a small amount of money relative to a guy my age in this industry.

And the quip about being an idiot is merely a bit of self deprecation and slight exaggeration. An intuitive reader would interpret that as me saying "Should I stay put and not make any rash decisions given the MULTIPLE pros and cons I already listed that don't all have to do with money?"

But thanks for the attempt at conversation. Much appreciated.
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      06-01-2011, 02:26 PM   #14
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Quote:
Originally Posted by KGB7 View Post
You will have fun at all the clubs and bars, etc. But you will be constantly broke.
I've never lived in NY, and I agree it's expensive, but when you say "broke" it really depends.

If you're a succesful investment banker in NY, you're far from broke....

nonetheless, most people in America are classified as "Just Over Broke anyways..."
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      06-01-2011, 02:27 PM   #15
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btw life is short, so go live

worst that can happen is you move back
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      06-01-2011, 02:31 PM   #16
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They both suck.

NYC is good for a long weekend and that is about it and LA is the pits.
There are many great places to live that are way cheaper and less stressful.
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      06-01-2011, 02:39 PM   #17
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^ I know you're just exaggerating by saying that both suck, but that's a sweeping generalization of both amazing cities. I go to ATL 5-6x a year to visit some of our automotive clients, and love the people, but I could say that ATL sucks the same way you say LA and NY suck.
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      06-01-2011, 02:41 PM   #18
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Pretty much the one thing all friends who visit NYC say is how gorgeous the women are here and how tiny the apartments are compared to where they live. If you are a extrovert and end up spending most of your time outside your place then you will love NYC.

I have spent a summer for work in cali, and I loved it. It will be my next move (SF), LA is just too much traffic and chaos. Either way when you are in one place you will want to be in the other in due time. The one thing that is hard to live without once you leave NYC is the convience of everything...anything can be had 24/7, everything and anything you imagine delivers, amazing beer gardens, best steak houses in the country, easiest ways to get around (subway or cab) and queens+bk are a whole new world. That said you will need min. 100k to enjoy the best of the city, or a great job with perks/expense account.

And yes ALOT of ppl are always trying to move to cali for the change of pace, cleanier living and overall better std in living, but you working in finance could really do well in NYC.

You only live once- i say screw it and move out and give it a shot

While you find a place feel free to crash on my couch
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      06-01-2011, 02:43 PM   #19
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Quote:
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Who said anyone was broke? I'm not sure if you are working yet or not, but people are a product of their environment. People thrive around other bright people. The brain trust held within the confines of high finance in NY are far superior to that in the west coast.
it also depends on your personal preference, personality. i went to b-school on the east coast, and wasn't really impressed w/ most of the finance/ibanking/sales brain trust (its not rocket science to put together pitch books). the exception to that would be the hardcore math/physics phd quant jocks who speak in differential equations and work in trading or similar positions.
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      06-01-2011, 02:43 PM   #20
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^ I know you're just exaggerating by saying that both suck, but that's a sweeping generalization of both amazing cities. I go to ATL 5-6x a year to visit some of our automotive clients, and love the people, but I could say that ATL sucks the same way you say LA and NY suck.
You are entitled to your opinion.


I have lived in both LA and NYC and that is my opinion and by the the way don't take it so personally.
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      06-01-2011, 02:48 PM   #21
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Pretty much the one thing all friends who visit NYC say is how gorgeous the women are here and how tiny the apartments are compared to where they live. If you are a extrovert and end up spending most of your time outside your place then you will love NYC.

I have spent a summer for work in cali, and I loved it. It will be my next move (SF), LA is just too much traffic and chaos. Either way when you are in one place you will want to be in the other in due time. The one thing that is hard to live without once you leave NYC is the convience of everything...anything can be had 24/7, everything and anything you imagine delivers, amazing beer gardens, best steak houses in the country, easiest ways to get around (subway or cab) and queens+bk are a whole new world. That said you will need min. 100k to enjoy the best of the city, or a great job with perks/expense account.

And yes ALOT of ppl are always trying to move to cali for the change of pace, cleanier living and overall better std in living, but you working in finance could really do well in NYC.

You only live once- i say screw it and move out and give it a shot

While you find a place feel free to crash on my couch

I agree, it is hard to beat SF bay area.
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      06-01-2011, 02:55 PM   #22
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Pretty much the one thing all friends who visit NYC say is how gorgeous the women are here and how tiny the apartments are compared to where they live. If you are a extrovert and end up spending most of your time outside your place then you will love NYC.

I have spent a summer for work in cali, and I loved it. It will be my next move (SF), LA is just too much traffic and chaos. Either way when you are in one place you will want to be in the other in due time. The one thing that is hard to live without once you leave NYC is the convience of everything...anything can be had 24/7, everything and anything you imagine delivers, amazing beer gardens, best steak houses in the country, easiest ways to get around (subway or cab) and queens+bk are a whole new world. That said you will need min. 100k to enjoy the best of the city, or a great job with perks/expense account.

And yes ALOT of ppl are always trying to move to cali for the change of pace, cleanier living and overall better std in living, but you working in finance could really do well in NYC.

You only live once- i say screw it and move out and give it a shot

While you find a place feel free to crash on my couch
Yea, those are the reasons why I'd ever want to live there anyways. The most difficult thing would be adjusting to actual seasons as well as being away from good friends and family.

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it also depends on your personal preference, personality. i went to b-school on the east coast, and wasn't really impressed w/ most of the finance/ibanking/sales brain trust (its not rocket science to put together pitch books). the exception to that would be the hardcore math/physics phd quant jocks who speak in differential equations and work in trading or similar positions.
Haha you speak the truth. mindless 80hr/week pitchbook work isn't necessarily what I'm touting, especially since no one puts those together after the age of 24/25 anyways. And the guys who write algorithms for computer based trading models aren't even the kinds of guys who can speak in broad strokes about anything. But you know what I was getting at ; )
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You are entitled to your opinion.


I have lived in both LA and NYC and that is my opinion and by the the way don't take it so personally.

Werd. I dig your town, especially the women. If only my far too frequent visits to ATL weren't purely for business, I might have some more time to enjoy.
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