2.15.2007

Living in NYC on 24K!!!!

This time next year, I will be done with college and out in the real world, for real, I hope, but one of my biggest concerns is how I'm going to do it. In the industry that I want to work in, the entry-level jobs pay horrible! You might as well be unemployed! I want to work in the fashion industry for either a magazine or doing in-house public relations, but none of these jobs pays. From what I have heard, these types of jobs pay from $20K to $28K if you're lucky! Well, I am not looking forward to that; some of the jobs at certain magazines don't even offer benefits. How in the world will you be able to pay for doctor bills without any insurance on $24K a year salary, let alone pay to live in NYC??!!


From the comments posted, it seems like most of you are in a similar position as I am a college student who has an internship and is on the brinks of graduating, well what are we going to do ?


If the average cost of a studio apartment in Manhattan is around $1400.00 a month and that is for an extremely average apt., I'm talking shower in the kitchen! But, if you scored a job making $24K a year, your probably going to end up taking home about $18K after all of the taxes, which leaves you with about $1200.00 after you poured your entire salary into your rent! You're left trying to stretch out for food, clothes, and bills, etc... for the whole entire year! Obviously, no one could really live like that because $1200.00 would not cover all of the essentials for a whole year in NYC! But, let's just say, for fun, well, it probably wouldn't be fun, but let's say you lived in Raleigh, NC and paid rent for a studio there also making around $24K. Studios aren't even a common thing in a city like Raleigh, but you could pick one up for about $500-$600.00 per month. Which means after paying your rent for the entire year, you would have about $12K left, which is at least doable and much more money left over than a measly $1200.00? Well, the point is that coming home with $18K a year, or anything in the same family is going to be a struggle to survive, which is why NYC is such a big roommate city. It seems like most people I talk to live with at least two other people. Some people have four other roommates. I can't even image, I like having my space, and I live by my self now, and I like it like that, but after college my parents aren't going to support me once I'm out in the real world and it seems I might be forced into a roommate situation, but even with a roommate, it is still a difficult money pinching kind of lifestyle. Why is it so difficult to survive in this city? Is it really worth it, sometimes I think I might just have to move to a normal city, where a box of cereal doesn't cost $8!!!! I don't know if I 'm cut out for this lifestyle. Do I really want to live in a crummy shoe box apartment with three other people? Yes, it's NYC, but people are forced to live like hamsters!!


Take a look at this NYC studio...its a tight squeeze!
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Also, check out this link, if you're interested in seeing base salary's for entry level fashion jobs! Just click on salary report!
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5 comments:

sAvVy SPENDER said...

Sorry about the confusion with the links. I'm not sure what happened, but they should work now...check out FaShIoN Salary Report and check this link out to look at a typical NYC Studio Apt.

istyle team said...

I think about this subject all the time. How am I going to survive here after I graduate? I also want to go into the fashion industry but the pay in the beginning is terrible. I'm left with deciding to go into something else, move somewhere else, or tough it our and find a way to make it work. I think what it comes down to is your happiness more important to you? Or is making a lot of money important to you? I think for me I've realized that I would rather do something I love and be poor then make a lot of money and be miserable. I think the reason so many people stay in New York is because there is a drive here and energy that is so great you don't want to leave it. It is one of the greatest cities in the world and there is no other place like it. I guess people are willing to make sacrifices in order to live here.

emilykhughes said...

I do agree that this city is expensive...but you would have the same troubles everywhere. I'm from a much smaller city than New York. The apartments are less expensive, but the jobs pay less too. There is a positive and negative to everything. My advice...start saving now...and put out an add looking for a few dozen roommates!

sAvVy SPENDER said...

Your right Lizzy, it comes down to what you want. Money or happiness and being happy is much more beneficial in the long run. NYC definitely has a special drive or energy about it. Even if you’re not making a lot of money, it is so exciting just to experience the energy of NYC because that energy is only unique to NYC!!!!

sAvVy SPENDER said...

Emily, I hear what you’re saying, but maybe the pay scale is different just in the fashion industry. I am not sure what type of field you are interested in, but the fashion industry pays considerably lower than other starting salaries in NYC. The cost of living is obviously much higher in NYC, but because it's more expensive to live here, then normally, the job pay goes up as well, but unfortunately not in fashion.

I am also from a smaller town and know several people who are first years on the job and the cost of living is less, but they are making more money than fashion assistants are in NYC!! In the smaller markets, making 24K is much more doable than living in NYC; in fact, people are able to have a somewhat comfortable lifestyle. Your right, that saving is a must, but I guess it is just a matter of what lifestyle you really want.