But JD Class of '16, don't count on paying off too much of your loan debt too quickly while in that position. Remember when associates could knock off the debt in five years or less if they could hold on to that Manhattan law-firm gig? That[s likely impossible currently.
If you choose to live in Manhattan, now the median monthly rent for a one-bedroom, reports BusinessInsider, is $3280. For the new micro apartment, with the pull-down bed, the rent is about $2650. Popular parts of Manhattan have the one-bedroom monthly rents at $4000.
What you can do is, advises BI, is get a roommate or commute from outside Manhattan.
But that commute could be a long one. A lot of the surrounding areas, including my home town of Jersey City, have gentrified. I could no longer afford to live in most parts of it aka safe areas.
Also, next winter, just like this one, Manhattan might get massive snow. That will make it even more difficult for you to commute in and out.
But, in any event, congratulations on landing a job practicing law in Manhattan.