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You all seem to be very helpful in guiding people on where they should live based on circumstances, I'm hoping for some help here. I'm thinking about taking a job in Mendham at an investment bank, with the major drawback being that it's may out in the suburbs. I really don't want to move to the suburbs at this point, as I am 23 and just about out of college in Boston. I would like to stay in an urban area if it makes sense. I have looked into a reverse commute from Jersey City and Hoboken, are either of these feasible? Are there any other recommendations? I'm open to all suggestions. I will be making 60k and plan to live with my girlfriend if it help. Any advice would be appreciate thank you!
You might want to consider Morristown which is 5 - 10 miles west of Mendham depending which side of Mendham your employer is situated. Hoboken and Jersey City would be 1 1/2 - 2 hours driving each way. At that salary, you will need to share an apartment. Where does your girlfriend work/plan on working?
Is that driving time taking into account traffic? Google maps quoted 45-50 min but that was with no traffic. Morristown just seems small... girlfriend does not have a job lined up she will need to find one.
I would not focus just on the "Now" working in Mendham, Either you will do well, and move up other locations, or find out that Investment Bank job is really a sales job, Pushing them to your companies products. And you will move off into other finance job at one of the many corporation in the area in the Finance/Accounting Fields.
Also the Demographic of Mendham's, Most families will already have a investment adviser, So getting your own client base will be hard (Your age will be a negative at this point, The Mendham Population who are your target market are in there 40's and are they going to look at someone who is 23 to advise them?) . Since everything is global now, Its a small sub/set of people who want an investment adviser who they will sit across the desk from now. It all phone calls, and online.
I second Morristown. I commute Jersey City to Parsippany, which is a little closer than Mendham, and it's not fun. It can be quite unpredictable, especially if you go the way of 280, where there are accidents that can slow you down quite frequently. Morristown may not be "city", but it's fairly "urban" if that makes sense, and there is plenty for someone your age to do there. Bars, restaurants, festivals, etc. It will be more affordable as well. 60K alone isn't going to cut it in Jersey City and Hoboken, unless you want to live in the ghetto part of Jersey City. Even in Morristown, that will run tight, but it's more possible to find something there.
I would move to Morristown, although within walking distance to center of town, as parking is tight near center of town and being able to walk home after possibly having a few drinks is a bonus.
Morristown is like a small city, in the center of town, outskirts are residential, also some kinda ghetto sections, but a great town overall, and close to mendham.
Yeah, Morristown is a no-brainer here. There will be enough happy-hours, live music, sports leagues, cross-fit, yoga, and late nights at the club to keep you occupied most nights. A good mix of recent arrivals and locals too. If you do need more, you can always take the train into the city on the weekends. Your commute to Mendham will be under 20 minutes even with traffic; you could bike it if you really wanted to.
I would not focus just on the "Now" working in Mendham, Either you will do well, and move up other locations, or find out that Investment Bank job is really a sales job, Pushing them to your companies products. And you will move off into other finance job at one of the many corporation in the area in the Finance/Accounting Fields.
Also the Demographic of Mendham's, Most families will already have a investment adviser, So getting your own client base will be hard (Your age will be a negative at this point, The Mendham Population who are your target market are in there 40's and are they going to look at someone who is 23 to advise them?) . Since everything is global now, Its a small sub/set of people who want an investment adviser who they will sit across the desk from now. It all phone calls, and online.
If this is a financial advisor position with Smith Barney, BofA/Merrill Lynch, Edward Jones, etc. you would do well to consider this. I used to work for one of these firms and the attrition rate for entry level FAs was 90% after three years. If you don't build up a book of business within a year, you WILL be gone. Unless you are a natural at sales, I would not relocate for a commission based up or out sales job IIWY.
Jersey City/Hoboken traffic heading west/south (away from NYC) during morning rush hour and east/north (towards NYC) during evening rush hour isn't that much lighter than traffic heading the opposite directions. The traffic volume on the highways tends to be equally significant in this area at whatever time of the day in all directions. There are exceptions like right at the bridges and tunnels into Manhattan in the mornings, but if you're driving far enough, it all equals out.
JC/Hoboken to Mendham could easily take 90 minutes or more during rush hours. It takes me over an hour from JC to Hacklebarney or Black River (two parks close to Mendham--I hike/bike a lot) even leaving at 10 or 11 in the morning.
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