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Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

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21–30 of 288 posts

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#21

Which 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.

I'll put in for Rochester, NY:

https://news.ycombinator.com/item?id=10051282

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#22

That'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…

As a Seattle resident born and raised, and having spent a fair amount of time in other parts of the world, I take issue with your characterization of the people as "way meaner." ;) The traffic is terrible though; I wouldn't want to commute into the city from anywhere outside of it. And the weather... well, let's just call it an acquired taste. :)

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#23

Which 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.

Minneapolis is nice.

I'm so biased.

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#24

Earlier quoted context omitted.

Seattle is way, way cheaper, the people seem nice to me, and we've had like 9 months of sun, so much so that we were declared officially in drought. Just saying. Might not be Seattle that's the problem. As to traffic, I commute via boat, which is rad, since there are dolphins and orcas sometimes. Seriously!

ssh! You're not supposed to tell!

Time honored trope for PNW residents: https://en.wikipedia.org/wiki/Keep_the_Bastards_Out

Every few years these Californians muck everything up with their SF equity turned into bidding wars, and their fancy cars and stuff.

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#25
post #14

Which 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.

The problem is they explicitly had to create something like Bay Area. They needed the engineers to be @ place. And the same can happen anywhere if you recreate the Bay Area. Solution: remote work Honestly...160k salaries for some sw roles are silly. But there is need for them because the costs of living are so high. That's plain bs.

Solution:

Concentrate your tech workers in a area that isn't hostile to expanding the housing supply when needed.

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#27
post #8

This 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.

In Minneapolis less than 6% of my pay is my mortgage and I have a 4 br, 2 ba home 3.75 miles from work. NoCal can't beat that.

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#28

Which 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.

I am spending 50% of my after-tax income on rent. The 50% I have remaining is more in SF than what I was making in Phoenix or Little Rock or Lincoln. The amount of choice in employer I have as an individual is also much greater here. Still, I'll probably head back to one of those "small" towns soon. Not really worth it here for me personally, despite the employer-choice and the $.

Or, keep your salary and work remotely for an SF co. Best of both worlds! But, you'll have to do without the longboards if you don't move to a properly hip location.

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#29

That'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…

Seattle is way, way cheaper, the people seem nice to me, and we've had like 9 months of sun, so much so that we were declared officially in drought. Just saying. Might not be Seattle that's the problem. As to traffic, I commute via boat, which is rad, since there are dolphins and orcas sometimes. Seriously!

Bainbridge Island is cheating :)

Seattle is still quite affordable, especially where startups tend to have their offices (in boring east side office parks).

Re: Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

#30

That'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…

Median rent for a 1-bedroom in Seattle is $1,615, compared to $2,800 in SF (from Rent Jungle)
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