^ That got screwed up.
Unless your family is supporting your lifestyle, you will not have a nanny and preschool on $200K pretax. You probably won't even own a home, if you have kids preschool age. You will be able to afford a stay-at-home wife, however.
Seriously, plan to rent an apartment in NJ on $200K.
you people have no idea what you are talking about. working at AQR as an associate for just 3 years guarantees you a salary in the 200k-300k range, which is more than any PhD economist job there is in NYC (you name it: econ AP at Columbia/NYU, Fed senior economist, etc.) If an AQR job can't get you a comfortable job, nothing else can.1) $200k after 3 years is far too low for a hedge fund
2) the point isn't whether AQR pays more than other NYC jobs, its whether new york is affordable on that sort of money. Learning $300k at a fund in NYC is much, much less than earning $100k in a flyover state, in terms of quality of life
This is true - I earn 150k in Austin, Tx and live like a king
No matter how expensive NYC is, $500k in NYC >>>>>>>>>>>>>>>>>>>>>>>> $150k in Austin. Don't overestimate the cost of living in NYC just to guard your envy on hedge fund people making big bucks.
you people have no idea what you are talking about. working at AQR as an associate for just 3 years guarantees you a salary in the 200k-300k range, which is more than any PhD economist job there is in NYC (you name it: econ AP at Columbia/NYU, Fed senior economist, etc.) If an AQR job can't get you a comfortable job, nothing else can.1) $200k after 3 years is far too low for a hedge fund
2) the point isn't whether AQR pays more than other NYC jobs, its whether new york is affordable on that sort of money. Learning $300k at a fund in NYC is much, much less than earning $100k in a flyover state, in terms of quality of lifeThis is true - I earn 150k in Austin, Tx and live like a king
Did you do econ phd at HRM I guess? I assume you become PM already?
I work for a peer of AQR, our HR people use them,along with other firms, as the relevant compensation benchmark. Five years ago I started at $250k all in, now I am at $600k all in, likely to break $1m over the next two years.