Making it in NYC: A marketing manager making $116,000 & a rent stabilized apartment

A new series anonymously profiling NYC readers' rent and salary histories

Aug 05, 2024

Welcome to the first edition of Making it in NYC! I’ve lived in New York City for almost five years. In this time, there isn’t a week that goes by that I don’t think about how expensive everything is. It can feel isolating (even in a city this big), and that’s why this series was born. I’ll profile a variety of people living in NYC (including their rent and salary history) for a snippet into how we all get by here in an effort to make the city feel a little less daunting, empower us to negotiate our salaries (and rent!), and showcase some of the best things about NYC.

Want to be featured in a future Making it in NYC edition? Submit the form here or send me a DM on Substack.

Today’s edition is from a marketing manager living in Brooklyn on $116,000.

How long have you lived in NYC? If you moved here, where did you move from? Why did you move here?

I’ve lived in NYC for just over two years. I moved here from Southern California, where I went to college. Before that, I spent my entire childhood in Northern California, and I plan to move back in the coming years.

I moved to New York because my job gave me the choice between two cities, and I didn’t know anyone in the other city (besides my coworkers). I had also spent a summer interning in NYC, so I knew that I liked it and could see myself living here. I was never one of those people who dreamed of living in NYC, but I just thought that it would be fun and now would be the time to do it!

If you moved to NYC, what was your job history like before moving? How did your salary before compare to living in NYC?

I never had any jobs other than summer jobs or internships prior to moving to NYC. I graduated from college in May of 2022 and moved straight here.

Did you attend college? If so, what did you study and did it set you up for your career path?

I studied sociology at a small liberal arts college. I loved it, but it didn’t really set me up with any specific business or marketing skills. I did learn a lot of useful skills that I can apply to my career like writing, public speaking, and researching.

Salary History:

Job Title + Industry: Marketing Manager at a tech company

Dates: June 2022 – Present

Salary: I started at $95,000 base pay in 2022 and I’ve received two raises since. I’m now at $107,000 base pay with a $9,200 bonus (total = $116,341).

Did you receive any additional compensation? I received a $9,500 bonus after one year in. I just received a $9,200 bonus. I’ve also accumulated around $140K in RSUs, with $40K vested at this point.

Did you negotiate for the starting salary or a raise? No, but I should have!

Other notes: Tech has been rough this year, so I didn’t receive as much of a pay bump as I did last year, but I still feel that I’m compensated fairly for my role and experience.

Rent History:

Apartment #1:

Time frame: May 2022 – July 2024

Rent: $2,006 for the first year, then $2,071 for the second year.

Apartment setup: Teeny tiny studio apartment in an old building.

Neighborhood: Brooklyn Heights

Broker fees? Yes, 1 month’s rent when I moved in ($2,006)

Other Notes: Even though I had just resigned my lease for a third year in this studio, my landlord let me break it a few months ago because of an ongoing cockroach problem. I was honestly so ready to get out – it was nice to have my own place, but it was tiny and the building was just falling apart. It was rent stabilized, which was definitely a motivator for staying, but it also meant that the building wasn't maintained very well unfortunately.

Apartment #2:

Time frame: July 2024 – Present

Rent: $2,600 for my portion

Apartment setup: Three bedroom, two bathroom in a gorgeous brownstone

Neighborhood: Carroll Gardens

Broker fees? No.

Other Notes: My friend had a room open up in the stunning building that she had been living in for the past year, so when I was able to get out of my lease, I swooped in. It’s really quite spacious and has central air, an in-unit washer/dryer, a dishwasher, new appliances, and I have my own bathroom. But, sometimes it feels ridiculous to be paying so much to live with roommates.

How do you budget (if you do)?

I track every single expense in my own spreadsheet that I update every few days. It’s a lot, but I like to know where my money is going. I typically try to follow the 50/30/20 rule, but now that I’m paying so much for rent, I definitely spend more overall than I’d like to every month.

Do you have other large expenses outside of rent (ex. car payment, student loans, family support)?

No.

Do you receive any financial support from your family? Did you in the past?

My parents paid for my college tuition and housing all four years. I was usually responsible for paying for any additional expenses using money from my job as a college tour guide, but they would occasionally slip me some cash when they visited. They also paid for my first month of rent when I moved to NYC. My parents still pay for my phone bill, but other than that, I’m now on my own.

What’s something that’s way too expensive in NYC?

Rent!!! And groceries.

What’s something expensive in NYC that you think is totally worth it?

The culture and entertainment here is amazing. I know I’m not going to live here forever, so I try to spend my money on unique, fun experiences that I may not be able to have elsewhere. Things like Broadway shows, museum tickets, and restaurants are all worth it to me.

What’s something you do in NYC that you couldn’t do anywhere else (whether you spend money on it or not)?

There’s always something going on here, and I love that I can leave my apartment and have a little adventure at any time. Like yesterday, my brother and I went out to get bagels and ended up walking through a street fair, sitting in a park people-watching, and running into my friend on the street as we walked home. Sometimes the constant activity in the city leads to spending more money than intended, but it’s mostly worth it to live in a city with this energy.

Do you think the high cost of living in NYC is worth it?

For right now in my life, yes. Being in my early 20s with few commitments beyond a job, I’m able to take advantage of everything NYC has to offer. In a few years, however, I could see the city taking its toll on me and I plan to leave (more on that below!).

Do you find it hard to “keep up” in NYC? (with friends who make more money, coworkers, influencers, etc)

Definitely. I find myself comparing my situation to influencers a lot. It’s a big reason why I don’t have TikTok and I deleted Instagram from my phone. I realize that it’s unrealistic to live the typical influencer life, but when you’re constantly consuming that lifestyle on social media and you’re surrounded by opportunities to spend money, it slowly becomes more and more natural.

Influencers position lavish expenses as a simple errand or task in their days. I’ve noticed that beauty and wellness expenses are major challenges for me recently, even though I don’t derive that much joy or benefit from them. I think a lot of beauty expenses, like getting my nails done or getting a spray tan, have become status symbols of wealth, beauty, and like, having your life together.

Sometimes, spending money is a way for me to put a bandaid on my insecurities or things that I don’t like about myself. The more I like myself, the less I feel the need to spend money on so many fleeting beauty practices or ‘wellness’ activities to meet unrealistic standards.

Do you experience financial anxiety? If so, how do you cope with it?

A little bit. Thanks to my parents, I know that I would be alright if I were to lose my job or get into a tricky financial situation. Of course they wouldn’t bankroll my lifestyle in NYC, but I know that I could move back home with them for a little while. Sometimes I worry that I spend too much, but then I remind myself that I’m only going to be living in NYC for a few more years, so I might as well enjoy it (but I don’t think that’s the healthiest mindset either!).

How long do you plan to continue living in NYC? How often do you think about leaving (if ever)?

Probably anywhere between 1 to 2 more years. I think about leaving a good amount, especially going back to California. I think the quality of life there would be amazing, and it’s more aligned with the lifestyle I want to live: spending more time outside, doing things other than eating/drinking, good weather year-round, etc. A lot of the decision is currently dependent on my job and my boyfriend.

Any NYC recs?

So many!

La Bicyclette Bakery – Just got the most amazing pastry at this spot (I went to the Carroll Gardens location, but they have others!)
Sea & Soil – Amazing sandwich shop in Red Hook/Carroll Gardens with sliding scale prices.
Lincoln Center Summer for the City – My boyfriend and I went to the silent dance party through Lincoln Center’s summer series a few weeks ago and had the best time.

Want to be featured in a future Making it in NYC edition? Submit the form here or send me a DM on Substack.

I post weekly about personal finance and lifestyle in NYC. I also post a monthly reset on the 1st of each month sharing everything I spent money on the previous month and goals for the next month. Subscribe so you don’t miss it!

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