Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
1–10 of 288 posts
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#2Which is silly....honestly companies need to start opening offices in more affordable areas. Colorado (Blouder, Denver, The Springs), Texas (Austin, San Antonio), Missouri (Kansas City, Saint Louis)....there are so many places you can put your employees that saves them money as well as your company a lot of money not only in Salaries because you'll be able to employees less but your rent/power/etc.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#3Imagine those who don't work on tech.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#4That's ok. When Airbnb, Square, and Stripe IPO in 12-36 months, all of the people currently flooding into SF to work for them will surely be able to sell their pre-IPO shares to ... Well, I don't know, honestly. I doubt that employee #1000 at Square would even be able to pay the down payment on a SF condo with their earnings.
Also, just FYI: Seattle isn't that much cheaper than SF, the people are way meaner, traffic is awful, and the weather really sucks. So I highly recommend against moving up here.
---
edit: Since people are apparently missing the joke, I've lived in Seattle for 12 years, consider it home, and can't imagine living anywhere else.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#5Which is silly....honestly companies need to start opening offices in more affordable areas. Colorado (Blouder, Denver, The Springs), Texas (Austin, San Antonio), Missouri (Kansas City, Saint Louis)....there are so many places you can put your employees that saves them money as well as your company a lot of money not only in Salaries because you'll be able to employees less but your rent/power/etc.
Lyft is moving its customer service team to Nashville due to the cost of SF rent.
SFBA companies! Get it together! Learn to be remote teams. It makes you a better company in the end.
EDIT: And you're not slaving your employees by forcing them to spend so much of their income on the unnecessary expense of SFBA housing.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#6Which is silly....honestly companies need to start opening offices in more affordable areas. Colorado (Blouder, Denver, The Springs), Texas (Austin, San Antonio), Missouri (Kansas City, Saint Louis)....there are so many places you can put your employees that saves them money as well as your company a lot of money not only in Salaries because you'll be able to employees less but your rent/power/etc.
Or not open offices (shameless remote work soap-boxing)
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#7This is not surprising at all. We keep complaining about it here and elsewhere but it's not going to change any time soon. The more people flock to SF the worse it will become.
When I left SF my studio "jr. one-bedroom" in SOMA was $3100 a month. I'd walk or muni to work by the ballpark and usually saw at least one person smoking meth, shooting up heroin, or pissing on the street. I pay less than half of that now for a 2 bedroom house in Michigan and have a stress-free 20 minute commute to the FarmLogs office.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#8This is not a great analysis. What they measured was average salary compared to average rent in the neighborhood where the company is located, not what their employees are actually paying. At Weebly I would estimate less than 10% of employees live in Soma where our office is.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#9I have no interest in moving to SF mostly because of the rent. Spending 33%+ of your paycheck on rent is absurd. I'd rather get a remote job and live somewhere cheap enough to where I could potentially put a down payment on my own place.
Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent
#10So making 100k+/year doesn't allow you to live comfortably in SF nowdays?