How the Valley treats experienced people

Post by jniedrauer » Sun, Dec 30, 2018, 5:54 PM UTC

ikeyany wrote: post #283

burlesona wrote: post #243

Earlier quoted context omitted.

I made the move to the Bay Area with a family in my 30s. It’s not perfect, but we’re saving dramatically more than we could anywhere else. I don’t know how long we’ll stay, but at this rate 5 years would be enough to set us up really well almost anywhere else in the US. I wish I’d gotten into software sooner. If you come out here at 22, live with roommates and stay until you’re 30, you probably take anywhere from $40…

Spending your entire life as a young adult doing that sounds dystopian. May that never become the norm.

Post by joshuamorton » Sun, Dec 30, 2018, 5:54 PM UTC

closeparen wrote: post #229

throwaway713 wrote: post #204

Earlier quoted context omitted.

> I'll then go check salaries using a job hunting site for the same positions in SV and they pay the same or less after adjusting for cost of living That's the problem. Salaries on job hunting sites are wildly inaccurate. Glassdoor lists FANG compensation as 2-3x less than what they actually pay. Also, the important metric isn't COL adjusted income; it's the total amount of money that's left over to save/invest after…

Under specific assumptions: 1) You don’t aspire to own a home here, as that will eat easily 100% or more of your savings. 2) You plan to spend your savings in a cheaper place. USD is a convenient shorthand for purchasing power, but breaks down under huge regional COL differences. A $200k savings account in the Bay Area is like a $50k savings account elsewhere: about enough to think about setting up a middle-class gro…

Post by closeparen » Sun, Dec 30, 2018, 5:57 PM UTC

joshuamorton wrote: post #303

closeparen wrote: post #229

Earlier quoted context omitted.

Under specific assumptions: 1) You don’t aspire to own a home here, as that will eat easily 100% or more of your savings. 2) You plan to spend your savings in a cheaper place. USD is a convenient shorthand for purchasing power, but breaks down under huge regional COL differences. A $200k savings account in the Bay Area is like a $50k savings account elsewhere: about enough to think about setting up a middle-class gro…

Unless you're talking about a home, 200k in the bay is more than 50k almost anywhere else. There are very few things that cost 4x more on regional differences, and housing may actually be the only one. (Other major expenses, like food, transit/gas, and leisure activities like travel or vacations are much less price elastic, 0-30% more)

Post by pavel_lishin » Sun, Dec 30, 2018, 5:57 PM UTC

sharemywin wrote: post #287

komali2 wrote: post #236

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I've heard this before, but there is something to be said about the difference between someone having kids at the start of their careers when they have little to no savings, and several years (hell, a decade) into their careers when they have high paying jobs with good stay-at-home policy, lots of money in the bank, perhaps a house. I grew up in situation 1 (teen pregnancy) and it is fascinating to talk with my frien…

Its funny how much life is staked against with a family. especially if one or both of you don't have a college degree. school hours aren't set up for jobs. A lot of companies don't tolerate sick kids. daycare is beyond expensive. health care for families is just impossible. Most people don't have enough savings to make a dent.

Post by smileysteve » Sun, Dec 30, 2018, 5:58 PM UTC

selectodude wrote: post #273

mbrumlow wrote: post #246

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Meanwhile in the south you can make those same six figures and have a 5 bedroom house with a mortgage of 1.5k Or live in a nice area for 800 a month. Or live in a shit area for 400. SV math does not work out. You are taxed to much. Pay to high rent and have the pleasure of needing a shit map to walk in your city. I keep seeing this same argument about getting to pay 1.5k to live with a bunch of other people to save s…

> SV math does not work out Sure it does. For one, they're taking home an extra thousand dollars per week in SV even after all the taxes. Also, they don't have to live in Birmingham, AL or whatever the hell.