Can a recent grad making 54k live in Manhattan like his boss wants?

Question

So I just graduated from college and I was just hired making around 54,000 annually. The job comes with internet, car/gas/parking.

My boss apparently increased the base a little to encourage me to live in my territory (Manhattan). The problem is I am not sure if my income can actually get a 1-bedroom that is relatively safe.

I am coming from upstate new york so this is a big confusing change for me.

If it is not possible to live in Manhattan on my salary without living in a high-crime area or a studio, then how would you properly talk to your new boss who is evaluating you?

Thanks!

Answer 1

As a fellow New Yorker; I must state that NYC is very expensive. You are looking at least 3k a month for a small 1 bedroom. There are plenty of areas outside NYC that are cheaper such as parts of Brooklyn and Queens that are a short train,sbway or bus ride away. Personally, in my opinion NYC is for the rich and not for working class people. To live in NYC comfortably you should be making at least $100k +. You should speak with a few realtors to get a feel for prices but be prepared to be shocked on what little space you get for your money. It is possible on your salary but you will have little to no disposable income.

Answer 2

You have to check out finding a place that is looking for a roommate (you sharing 1 property with 1 or more people). Many folks will share to keep the costs down. Not optimal to some but clearly a solution in high cost areas around the world.

If you do not live in Manhattan and you choose to commute that could work fine for the job but might mean a lot of time commuting plus added costs. Hence you might find that the alternatives are not that exciting.

Check out Craigslist and see what prices are like if you share an apartment. That will at least give you another benchmark for any discussions with your boss.

Answer 3

If you are a recent grad your salary is pretty good, i say yes u can get a nice 1 bedroom... but look at the cheapest places so you can get savings...

Answer 4

determine your wages at 70%, the rest is going for taxes---determine your college loans, your cc costs and your cellular telephone--your motor vehicle and ins and the different expenses. Then come to a determination in case you pick to consume or no longer consume. As for the motivation bonus---very iffy.

Answer 5

atleast u know how it is in new york 54,000 is nothing try talking to him and tell him your concerns he may understand
good luck