TLDR: People say spend 3 months' salary, I say spend 2 and spend the extra month on an awesome wedding, and you can always upgrade at your 5 or 10 year anniversary.
If you’re asking yourself how much to spend on an engagement ring, you’re not alone. It’s one of the most searched (and stressed![]()
over) questions for anyone getting ready to propose. Whether you’re planning a classic proposal in Central Park, a rooftop moment in Manhattan, or just want to get it right, here’s your go-to guide from Bouquet Fine Jewelry—your trusted source for engagement rings in New York City.
Where Did the “Three Months' Salary” Rule Come From?
The three-months' salary rule was actually a marketing campaign created by De Beers in the 1930s. It worked. Decades later, people still quote it like gospel. But times have changed, and so has the way couples view love, money, and milestones.
In 2025, there is no one-size-fits-all answer— but, I would argue the ring is important and symbolic but not worth breaking the bank for when you have a wedding, honeymoon, and maybe a new house or condo to pay for all in short order.
What Are People Actually Spending on Engagement Rings?
According to recent NYC data:
-
The average spend on an engagement ring in New York is around $10,000–$14,000.
-
In finance circles (especially private equity, banking, hedge funds), the norm often ranges from $20,000 to $50,000+.
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At Bouquet Fine Jewelry, we see clients spending anywhere from $5,000 to $80,000+, depending on the stone, metal, and setting.
We’ve helped clients design custom rings for $6,200 and also for $71,000—it’s less about the number and more about the intent behind it.
Start With What Matters Most: Her
Before thinking numbers, think values, style, and expectations.
-
Does she care more about stone size or stone quality?
-
Is she into classic designs or something modern and unexpected?
- Is this the one piece of jewelry she’ll wear every day, or will she want to upgrade it later?
Many of our clients bring in their partner for a consultation to align on style and priorities. It saves time, money, and stress.
So... What Should You Spend?
Ask yourself:
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What am I comfortable spending right now?
- Will this put me in unnecessary debt?
- Am I buying a piece that feels like her—or trying to impress someone else?
There’s no award for overspending. And there’s no judgment for working within a budget.
If you're working with $8,000, we’ll help you find the best 2.50ct lab grown or 1.00ct natural diamond in a classic solitaire setting. If you're at $25,000+, we might show you a 2ct elongated cushion with custom cathedral shoulders. We work backwards from your number.
And, guys don’t typically think about this, but in 5 years or for your big 10 year anniversary, you can always upgrade to something nicer when you are more financially sound.
NYC Tip: Don't Get Your Face Ripped Off
New York has some of the world’s best diamonds—and some of the pushiest sales tactics. We've had clients walk out of stores on 47th Street being pressured to buy on the spot, only to come to us knowing they were getting ripped off, just not sure how and by how much.
At Bouquet, we do private, by-appointment consultations in Midtown Manhattan where we walk you through all options, and we don't care if you buy from us. Why? Because I guarantee you'll appreciate the candidness so much so that even if you don't buy from us, you'll vouch for our reputation.
The Bottom Line
How much you spend on an engagement ring should be a reflection of:
- Your budget
- Her taste
- The story you want the ring to tell
Not a number you googled.
This is about building something that lasts. If you’re unsure where to begin, schedule a consultation with us at Bouquet Fine Jewelry. Whether it’s $5K or $50K, we’ll help you make it count.
How Much Should You Spend on an Engagement Ring? (NYC Guide 2025)
TLDR: People say spend 3 months' salary, I say spend 2 and spend the extra month on an awesome wedding, and you can always upgrade at your 5 or 10 year anniversary.
If you’re asking yourself how much to spend on an engagement ring, you’re not alone. It’s one of the most searched (and stressed![]()
over) questions for anyone getting ready to propose. Whether you’re planning a classic proposal in Central Park, a rooftop moment in Manhattan, or just want to get it right, here’s your go-to guide from Bouquet Fine Jewelry—your trusted source for engagement rings in New York City.
Where Did the “Three Months' Salary” Rule Come From?
The three-months' salary rule was actually a marketing campaign created by De Beers in the 1930s. It worked. Decades later, people still quote it like gospel. But times have changed, and so has the way couples view love, money, and milestones.
In 2025, there is no one-size-fits-all answer— but, I would argue the ring is important and symbolic but not worth breaking the bank for when you have a wedding, honeymoon, and maybe a new house or condo to pay for all in short order.
What Are People Actually Spending on Engagement Rings?
According to recent NYC data:
We’ve helped clients design custom rings for $6,200 and also for $71,000—it’s less about the number and more about the intent behind it.
Start With What Matters Most: Her
Before thinking numbers, think values, style, and expectations.
Many of our clients bring in their partner for a consultation to align on style and priorities. It saves time, money, and stress.
So... What Should You Spend?
Ask yourself:
There’s no award for overspending. And there’s no judgment for working within a budget.
If you're working with $8,000, we’ll help you find the best 2.50ct lab grown or 1.00ct natural diamond in a classic solitaire setting. If you're at $25,000+, we might show you a 2ct elongated cushion with custom cathedral shoulders. We work backwards from your number.
And, guys don’t typically think about this, but in 5 years or for your big 10 year anniversary, you can always upgrade to something nicer when you are more financially sound.
NYC Tip: Don't Get Your Face Ripped Off
New York has some of the world’s best diamonds—and some of the pushiest sales tactics. We've had clients walk out of stores on 47th Street being pressured to buy on the spot, only to come to us knowing they were getting ripped off, just not sure how and by how much.
At Bouquet, we do private, by-appointment consultations in Midtown Manhattan where we walk you through all options, and we don't care if you buy from us. Why? Because I guarantee you'll appreciate the candidness so much so that even if you don't buy from us, you'll vouch for our reputation.
The Bottom Line
How much you spend on an engagement ring should be a reflection of:
Not a number you googled.
This is about building something that lasts. If you’re unsure where to begin, schedule a consultation with us at Bouquet Fine Jewelry. Whether it’s $5K or $50K, we’ll help you make it count.