So I'm actually speaking from experience here... I've lived in NYC for the past 5 years since graduation working in finance, which as someone said is a bit of a catchall in this city. I work in private equity now, but went through the ringer in the traditional analyst program at a bulge bracket and just completed two years as an associate in VC.
Most entry level finance salary jobs at bulge brackets is in the $70K base salary range and bonus will depend on how you perform in your analyst class, but generally will be between $15,000 if you suck and $70,000 if you do well.
That being said you can't live in NYC on $42,000 without some kid of financial assistance. Rent even in a not so nice neighborhood is going to be $1,000/month and that'd be splitting a 3 BR in Queens, which is not ideal.
My guess is this offer was in some wealth management position where they'd have you calling everyone you know trying to get you to invest their money with your group?
If you really want to get into finance then I'm happy to answer some questions for you, but I'd recommend looking at some of the more exciting youthful companies in the city, or maybe target a city with a vibrant start-up finance culture like Austin (would suck for skiing, but just as an example). Let me know if you want some recommendations. I worked at a VC shop and we constantly funded companies that are now looking for young finance/tech minds and the work experience would be 100x more useful/rewarding in 10 years than grinding out pitchbooks until 4 AM 7 nights a week.
