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Thinking about moving to NY - advice please

Discussion in 'New York Tri-State' started by davidevo1, Dec 29, 2012.

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  1. davidevo1

    davidevo1 Rookie

    Mar 9, 2009
    20
    #1 davidevo1, Dec 29, 2012
    Last edited by a moderator: Sep 7, 2017
    Afternoon chaps, I’ve asked for some advice on FChat in the past, and found everyone here incredibly helpful, so, if it’s alright, I hoped I might ask you gentlemen for a little advice too.

    I think the last time I introduced myself on here I wrote about a page recounting summer afternoons in Silverstone, in the end, I got a little carried away, and it all became rather long winded! Suffice to say, I’ve loved cars since I was a kid, and over the years found the automotive community in general to be rather a special place.

    So, here’s where I am… I’ve just finished an Economics degree over here in London, I speak French and Italian, and throughout university I’ve worked as an Estate Agent (our system works a little differently over here, but it’s not massively dissimilar).

    Since graduating this summer I’ve been fortunate enough to have been offered jobs both in Private Banking and Real Estate Investment here in London. But if I’m honest, I’m really looking for an environment where I can grow and progress, and London, Europe in general I fear, is just not it.

    As such, what I really wanted to ask is, first of all, how do you all feel things are out there? I mean, I read all the journals, listen to all the reports, but sentiment is a rather tricky thing to judge. Would be interested to know if anybody works in those sorts of sectors, and how your outlook is for the future? And also, more simply, if you gentlemen had your time again, where would you see yourself relocating?

    I know this is all rather impromptu, but I thought it just might be worth asking.

    Also, do believe it’s customary to post pics of your car when you’re new to a place. So here’s my little Fiat Barchetta by a lake in northern Italy, not quite a Ferrari, but a cousin at least ;)

    David
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  2. sjmst

    sjmst F1 Veteran
    Lifetime Rossa

    Jul 31, 2003
    9,854
    Long Island, NY
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    Sam
    #2 sjmst, Dec 29, 2012
    Except for the obvious, that NYC area has lots of opportunity, there is not much I can say. Maybe some others can chime in. Good luck!
     
  3. philt68

    philt68 Formula Junior

    Aug 26, 2008
    969
    new york city
    #3 philt68, Dec 29, 2012
    speaking as an englishman who's lived in new york for almost 20 years, there's nothing better-EXCEPT the driving-nothing compares to driving in france and italy...
     
  4. J430S

    J430S Formula Junior
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    May 5, 2008
    390
    NY
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    John M
    #4 J430S, Jan 2, 2013
    I have worked in New York City for the past 40 years. I have seen the good times and the bad. My business supports the industries you are looking to get into. Sentiment is fine. Nobody is happy with the new regulations this administration has put in place, but it certainly has increased need for compliance officers, and their staffs.
    Real Estate in NYC is very solid. It has it's own cycles, it is not down when other cities are up and vice versa. I'm seeing a lot of foreign money going into NYC real estate. The "great recession" threw her best at us, and we survived.
    My opinion is that if you are good at what you do, are willing to work very hard. By very hard I mean 12-14 hour days, and have a decent personality you will succeed here. As far as living here, there is no better place. Your British accent will go far with the ladies.
    Good luck.
     
  5. bball16

    bball16 F1 Rookie
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    Dec 2, 2011
    4,129
    NY LI FtL
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    Mike
    #5 bball16, Jan 2, 2013
    Very well said.....
     
  6. dflett

    dflett Formula 3
    Silver Subscribed

    Jun 24, 2005
    1,632
    NY
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    David
    #6 dflett, Jan 2, 2013
    Worst thing about moving to NY five years ago was having to leave the Fiat barchetta behind at DTR the day before we flew... I loved that little car, sniff, sniff .

    Good luck with whatever you choose, there are many oportunities for the hard working here... However driving in the NY area is just plain horrible compared to driving in Europe in my opinion.
     
  7. Ashman

    Ashman Three Time F1 World Champ
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    Sep 5, 2002
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    #7 Ashman, Jan 3, 2013
    As a former banker and now consultant who has lived and worked in and just outside of NYC for 30 years, I would echo J430S's thoughts.

    During that time, the waning and demise of New York as a financial, cultural and business center has been forecast many times. During the 80's the stock market crash and S&L crisis and the junk bond flameout (for a time), the outmigration to lower cost suburbs in the 90's, the internet and technology, post 9/11, post Lehman Brothers crisis, all have been supposed watershed events that would spell the end for New York and the financial services sector. In every instance, the next cycle up was stronger than those before.

    There is no question that financial services right now are going through consolidation and change as new capital and regulatory restrictions will change the way that capital is raised and invested. What will not change is the need for capital, investment products and other smart people to push the envelope in those areas, for better or worse. The great cities attract the best and the brightest all over the world and New York will continue to attract people who want to experience the big leagues.

    You are the perfect age to experience New York and to see whether its excitement, opportunities and unlimited experiences with people who are the top in their professions is something that works for you, whether over only a few years or for the long term. Living here is expensive (cheaper than London though where the numbers might be similar but the squiggly L in front means a 60% premium!), apartments are small for the money, getting out to the beach, mountains or countryside once in a while is necessary for the sake of recharging and sanity, and all of the other drawbacks to living here but the time to put up with these privations is when you are young and haven't gotten used to lots of space cheap. Some may consider it a drawback but the fact is that, with enough money, you can buy your way out of all the inconveniences.

    From the beginning I've always said that New York offers the highest highs and the lowest lows and whether it appeals to you depends greatly on your ability to adapt, your personality and your sense of adventure. It is one of the great cities of the world and, just like all of the other great cities, has its own personality, vibe, attractions and features that make it special. I am still amazed and excited by being in the city even though I no longer go in every day.

    I did not grow up in New York and I am still an avid fan of the Boston Red Sox but the New York area feels more like home to me than where I grew up.

    IMO, everyone who aspires to be in the banking, real estate or investment area (as well as any number of other professions) should live in New York for at least a while. This is where the innovation in deal structures happens, where new markets are created

    If nothing else, you will have great stories to tell and, when you come back to visit from time to time, you will do so as someone who knows their way around and not as a tourist.

    Give it a shot, what is the downside?
     
  8. davidevo1

    davidevo1 Rookie

    Mar 9, 2009
    20
    #8 davidevo1, Jan 6, 2013
    Gents, thank you so much, some really wonderful advice, cannot tell you how much I appreciate it.

    J430S – thank you ever so much for that, really encouraging to read. If you ask a similar question to people in London or Paris, you’re usually met with stories of doom; so it’s really good to hear some more positive words.
    Thought the British accent thing was somewhat of a myth though! Another thing to look forward to!

    dflett –fortunately for me, much of my family live in the north of Italy, so with a little luck my Barchetta can be tucked up over there! I’ve been lucky to spend most of my summers either in France or Italy, and there really are some of the most wonderful driving roads in that part of the world… a good reason to come back and visit I guess.
    The guys over at DTR are just great, and I must say, the 330 GTS they did a while back has got to earn a place in the dream garage.

    Ashman – to read something like this is so encouraging, what you say is very interesting indeed, and I really appreciate the time and input. To be honest, my initial motivation behind New York was purely pragmatic, but to hear that you’re still excited by a place after so long is rather an inspiring thought.


    Over all, the way you all speak of your city is genuinely inspiring. Having never visited New York there was always a concern that I was being somewhat rash, but, reading your experiences have definitely put my mind at rest. And with the danger of sounding like a scratched record, thank you again for all your advice.

    I had a long telephone conversation with one of the staffers over at J.P Morgan at the end of last week. He was a really interesting guy, with some good advice. Will get back on the phone this week; think I’m going to try and phone some of the smaller family offices, see if they have any opportunities for someone in my position.

    Will be sure to let you all know how it goes.

    David
     
  9. davidevo1

    davidevo1 Rookie

    Mar 9, 2009
    20
    #9 davidevo1, Jan 24, 2013
    Just thought I’d drop by for an update… have made an awful lot of phone calls and spoken with some really interesting people as a result.

    On the whole though, people tend to think I’m a little nuts, and that I couldn’t have picked a worse time, but, the one overriding thing I can say, is that you New Yorkers do love your city! Never have I heard people speak more highly of the place they live, it’s so lovely to hear, and just makes me want to make the move even more!

    Bit of a long shot, but, don’t suppose anyone knows of someone in Real Estate or Asset/Wealth Management I can speak to? I’m far from run out of people to try and call, but would be nice to phone someone I’m perhaps a little connected to, so maybe they think I’m less nuts! haha

    David
     
  10. GTS Bruce

    GTS Bruce Formula Junior

    Oct 10, 2012
    804
    Orchard Park NY
    Full Name:
    Bruce Roche
    #10 GTS Bruce, Jan 24, 2013
    How about Houston Texas? No state and city income tax.
     
  11. DonJuan348

    DonJuan348 F1 Rookie
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    Aug 5, 2008
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    #11 DonJuan348, Jan 25, 2013
    Is that Lago Garda ?


    You have received some good words ...
     
  12. davidevo1

    davidevo1 Rookie

    Mar 9, 2009
    20
    #12 davidevo1, Jan 25, 2013
    It is indeed! :D have family just south of the lake, incredibly lovely part of the world.

    David
     
  13. DonJuan348

    DonJuan348 F1 Rookie
    Owner

    Aug 5, 2008
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    #13 DonJuan348, Jan 25, 2013
    I thought it looked familiar, I have family in the area also.
     

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