Salary vs Suit prices

Discussion in 'Classic Menswear' started by dingdongbell, Aug 29, 2011.

  1. mrclam

    mrclam Senior member

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    Think this is quite extreme, but fair enough. Still, beyond the actual financial issues, if you're wearing this stuff at work, you shouldn't be too far up or down for your role. How obvious the quality of your suit is can vary, obviously.
     


  2. Pendulum

    Pendulum Senior member

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    Depends on what you're in sales for really, sales in IB is a different ball game to car salesman for example. Without trying to be snobby (but inevitably coming out as such) people who suggest that spending $5k on a suit when earning $200k is ridiculous have never come close to earning that sum. I'm in a bit of a different situation being young, no family, cheaper rent as sharing a house with friends, but in the UK I get taxed 40% on all my earnings above £35000 + 9% of over £15k for student loans, so although my salary is over $140k, take home is ~$80k. Depressing isn't it? I can still afford to buy $2k suits with regularity though due to my situation.
     
    Last edited: Sep 1, 2011


  3. Reevolving

    Reevolving Senior member

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    Truth hurts, eh?



    If you didn't spend all your money on clothing, perhaps property ownership would be more attainable for you.
    Learn to delay gratification. This is how the upper class lives.
     
    Last edited: Sep 1, 2011


  4. Nicola

    Nicola Senior member

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    If you need to delay anything you aren't upper class.
     


  5. Quadcammer

    Quadcammer Senior member

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    Why? Because we on this forum spend at least one level of magnitude more than the average person on clothing. High end suits are about the fabric and the fit. I've never had a suit fall apart, bubble badly, or generally wear out before I either got tired of it or didn't fit into it. Now, there is no guarantee a $2,000 suit will fit me any better than a $500 suit. That brings us down to fabrics. Yes, one is nicer than the other, clearly, no question. But so what? Its not like $500 suits are made of rags sold by the homeless man on the street corner. I've had many a $500 suit that look nice, feel nice to the touch, and have been durable. In fact, I'm quite pleased with the fabric on a $290 Charles Tyrwhitt suit. I know I know, you wouldn't be caught dead in such a piece of shit, but you know what, I don't care. Finally the construction. Yes, the fully canvassed suit will drape and conform better, but if the suit fits properly, then even a fused or half canvassed suit will look quite nice. As you should know, fit trumps all.

    To get back to the point. A person earning $50k is likely one to be fresh out of college, working in an entry level job. As someone with probably a few thousand in student loans (at least) and basically zero job security, it would be reckless for them to purchase a $1000+ suit. Nor is it anywhere near acceptable. Like I said, whats acceptable for this person is not necessarily acceptable for a CEO (although I've seen CEOs in cheap shitty suits.).

    To make a long story short, cut the BS.


    Sometimes, hell most times you do. And I haven't seen anyone argue otherwise. But for someone to think a $500 suit is not acceptable for a 22 year old entry level "enter generic title here", is flat out bullshit.


    Agreed. If I had endless amounts of money, sure I'd care whether the stitching on the horsehair was perfectly straight and the buttonhole had perfect symmetry, but at this point in my life, these details are 100% meaningless.


    Once again agreed. Not to mention, I'd rather spend the money on a track day with my 911 turbo then get a hand-stitched lapel on a suit. Some details don't matter to me or others. As long as I look good, and feel good in what I'm wearing, I don't care if it was $20 or $20,000.

    yup
     


  6. Quadcammer

    Quadcammer Senior member

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    You are full of shit. Sorry.

    1. Renters? Really? You're really going to bring that up now? Lets say you, being the financial master that you are, bought a house in nevada, california, florida, michigan, or a dozen other states, which is now worth precisely dick. How does home ownership have any relevance here? Its no longer the sure fire way to gain wealth that it once was. Renting works for some people, and there is absolutely no reason why a guy who earns $500k and rents a $4,000 a month apartment in NYC should be buying $300 suits. Stupid generalization.

    2. Now one needs a $500k net worth before they can spend $1,000 on a suit or cordovan shoes? Let me guess, this person should also drive a Kia Rio, live in a shanty, and have a 19" tube TV.

    3. $250k gross, is about $11,460 per month...net. So even with lets call it a $5,000 a month mortgage/escrow payment, another $2k in food/utilities/necessities, that leaves you with about $4,500 a month. So you don't think this person can't spare the occasional $2k. God forbid he saves only $2,500 one month a year.

    Delayed gratification is great...but delay too long and the only $2000 suit you'll be wearing will be for your funeral.
     


  7. Eustace

    Eustace Senior member

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    I just got a NWT BB Golden Fleece suit that fits like bespoke for $200. I also have an Oxxford suit that fits great that I got for $40. Price has little to no bearing on quality, particularly if you are willing to thrift.
     


  8. Master Squirrel

    Master Squirrel Senior member

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    I really want to be cool and not display lower-class behavior, but I have some questions...

    Is that mortgage before taxes, insurance and trailer park association and hook-up fees? Because according to your chart below I should ask my boss for a $470,000 raise so my suits meet but don't exceed my mortgage payment. Or is your chart for those who buy 1 suit a week? Because that would make more sense.

    Thanks again for the chart. I have one more question: At what point in my income can I justify cable TV? And dog food for a Westie?

    Please reply because I really want to be a big tymer.
     
    Last edited: Sep 1, 2011


  9. yachtie

    yachtie Senior member

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    Here's a hint:
    Amortize your $3000 bespoke suit over 15 years (average lifetime )
    Amortize your $300 suit over 2 years (about when the fusing starts to go)

    Which is a better deal?
     
    Last edited: Sep 1, 2011


  10. Quadcammer

    Quadcammer Senior member

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    oh god, another of these arguments. BS, just like the argument that cole haans fall apart in 6 months and Edward Greens will last into the next millennium with a resole every 60 years.


    Modern fused suits do not fall apart in 2 years unless you wear it every single day. And if you wear your bespoke suit every single day, its not lasting 15 years either.
     


  11. hellodocks

    hellodocks Senior member

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    I'm glad to see enough people dominating that Revolving kid's post enough so I don't have to. Jesus fuck, do you really think like that? I'm sorry a 19 year old kid doesn't have the financial resources to own the box-in-the-sky he lives in in New York, or that a young banker/trader dropping stacks on a 1BR chooses to rent instead of buying. How inane are you?
     


  12. thenanyu

    thenanyu Senior member

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    NY Times Rent vs. Buy calculator

    Anyone who opens their mouth about buying vs renting should first spend an hour with this thing.

    The break-even point for most properties in New York is > 20 years. Peter Schiff has some good talks on the youtube about the subject as well. Anyone who still holds property ownership in such high esteem is clueless.
     
    Last edited: Sep 1, 2011


  13. unbelragazzo

    unbelragazzo Jewfro Dubiously Honored

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    +1. As someone who has a fair amount of independent wealth and an increasing interest in high quality clothing, I've at times spent a lot of money on a suit. But I also have some less expensive, even fused suits, that I got either before I learned to appreciate quality, or for occasions when I wanted to tone things down a bit so as not to be ostentatious, and/or when there was a high probability of some sort of spill or other damage. With some alterations from a good tailor, these suits fit fine, ppl comment and say they are nice, and I have had then for years (not wearing that often, but whatever) without any bubbling or other severe problems from the fusing. Understand, I'm not saying these suits are as good as my higher-end ones (Armani BL, Attolini), the quality of which I have enough esteem and appreciation for that I was willing to pay up for it, but I don't think it's the case that a $500 suit or a fused suit is necessarily horrible and not 100% acceptable for a vast majority of the population.
     


  14. Quadcammer

    Quadcammer Senior member

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    I did a simple one:

    $2,500 one bedroom rent

    Same apartment priced at $700,000, 4.25% mortgage with 20% down. Assuming 2% annual home appreciation (yeah right), and 3% annual rent increase, it would take 18 years before owning is better than buying.

    I'm not sure about you, but I just bought my first place at 27, and I damn sure don't expect to live here in 18 years.
     


  15. yachtie

    yachtie Senior member

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    And how in the hell would you know how long a good suit lasts?
     


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