Living On $172K A Year In NYC | Millennial Money

Drake Pooley, 23, lives in New York, NY, and earns $172,000 a year as a consulting associate. He earns a base of $120,000 with an additional $47,250 in compensation from his bonus, profit share and extra 401(k) match.

This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money.

As an associate management consultant for a top New York City-based firm, the 23-year-old spends Monday through Thursday in a different U.S. city — Chicago, Cincinnati and Nashville are all recent destinations — helping organizations come up with solutions for the problems plaguing them.

He frequently finds himself working out of hotel rooms at 11 p.m., but doesn't mind the long days. Working hard, Pooley says, is in his blood. His dad is an entrepreneur who is always coming up with a new business idea to test out. But it's his grandmother, a Lithuanian who came to the U.S. from Venezuela at 14, who Pooley most admires.

"My grandmother was actually a refugee. She was the hardest working person I ever met," he says.

On the side, he coaches Chinese college students on U.S. and Chinese employment processes, helping them navigate the beginnings of their careers in a foreign country. He charges $100 per hour and brings in around $400 per month.

"I've lived in China twice, and I'm very familiar with how Chinese students think and also the cultural differences," he says.

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online

#CNBC
#CNBCMakeIt
#MillennialMoney

Living On $172K A Year In NYC | Millennial Money

[einnorw]

wtf why is he so likeable i wanted to be salty about this

[fasthandsz]

As long as he doesn’t act like the 3 guys in the metro train in joker he’s cool

[thegr]

I met him here at Stanford (he attends the Graduate School of Business and I am an undergrad). We chatted for a while at the Arbuckle dining pavilion. He was very gracious and insightful.

[TennaciousF]

right now im struggling with my mental health. Im 22 and living with my parents, but when I get over this im going out there to kick some butt

[jacquelinm]

Drake is who I want to be when I grow up... I’m 26.

[toyosauce]

He's making 6 figures but I'm here, 23 and just sharing memes whole day.

[mikemach]

My dad never made more than $150k a year (only salary the family), but he was at all of our after-school activities, coached little league, ate dinner with family every night, and still saved enough to pay for (modest) vacations and half of our public college tuition. He just visited Europe for the first time and is excited to travel the country in a camper van with my mom during retirement.

My MD makes over $2mm a year (in addition to a highly-paid spouse) and stresses about private boarding school tuition, misses family events, takes weekly 6am cross-country flights, and regularly questions if the delayed gratification plan he's had for the last 20 years will be worth it.

I spent my childhood years wanting for the life my MD has. Now that I'm on that track, I envy my dad.

[caraserena]

He is sooo likeable, he is not very stuck up and seems to have such a nice personality

[qanh]

You just called me poor for 6 minutes.

[omgsockss]

This guy is clearly a genius. Just based on the fact that he said he tutors Chinese people in his free time and is graduated from grad school at 21 it is clear that he is not ordinary. I would LOVE to learn more about his story.

[samlee]

Making $172K but also working 15 hours a day...I don't know if I'd be up for that even if I were offered that kind of money. Props to him for grinding so hard at such a young age.

[Martin_Logan]

Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I recently began investing in stocks and it was the best choice I've ever made. If you genuinely want to be financially secure, disregard everything the media is suggesting. The market offers a lot of chances. Maximize your use of it

[shhhquietplease]

goddammit. why'd he have to have such a big heart. im not even jealous. just inspired

[niceboy]

He is 23. He has worked for his company for 2 years. Therefore, he started working at 21. He said he started working right out of grad school, which means he finished not only undergrad but grad school at 21. He did about 6 years of school in 3, depending on how old he was when he started college. That is insane.

[peternguyen]

I wanted to dislike this guy for being young and making a lot of money but he is simply a much better human being than I am

[itstatilol]

23, got a graduate degree and has been working at his firm for two years? I suddenly feel very behind

[jackxiao]

What about his business card? Can he get a reservation at Dorsia?

[colette]

I wish I had watched these kinds of videos when I was in my 20s. This would totally have inspired and influenced me to be wiser with my time and finances.. But oh well, it's never too late 😊

[thekaerichtexas]

22 earning 172k ain't bad. He's living his best life. Way to go dude

[burt]

"Always negotiate your medical bills!" *laughs in european*