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Any engineer with a decent job in the Bay Area should be that far right on the income distribution. I could take a gig there at $300k+ if I chose to (a specific
by SomeCallMeTim 11y ago
Any engineer with a decent job in the Bay Area should be that far right on the income distribution. I could take a gig there at $300k+ if I chose to (a specific offer, which was recently re-extended to me), and most who work for large companies probably approach $200k in total compensation. I know some who are making ~$450k -- not famous developers, so you've probably never heard of them, but good ones.
I left the Bay Area a decade ago because, in order to buy a four bedroom house (2 kids+home office) in a good school district, the cheapest, crappiest house would have set me back $1M. A nice house started at $1.2M or so. In the suburbs. And I just didn't want to be tied to one of those high-paying jobs. I wanted to be able to quit and do my own thing. So I left that market behind.
For Bay Area prices in general, those are typical. Period. The fact that I see a few ~$700k prices on that map means to me that yes, there are some bargains to be had in that area.
The only exception is if you have a high tolerance for run-down areas and/or poor schools; lots of cheaper houses in Oakland, for instance, even near Bart stations. THAT's where the people who can't afford San Francisco, but who work there, should be (and are!) looking. I did a San Francisco commute on Bart for nearly four years, and it's not bad. Or live in Alameda and commute on the ferry; that is an awesome commute. Did that for a year as well.
But I have a house near Boulder/Denver, Colorado now. Cost: ~$360k. Coming from the Bay Area, I had enough equity to pay cash. Transit: Short walk to two busses that could take me to different parts of Boulder or Longmont (though traffic is low here and I typically drive my Volt, charged with the solar panels on my house). Neighborhood: Short walk to a library, grocery store, about ten restaurants, and two cafes (not counting the Starbucks embedded in the grocery store). Eighteen minute drive to Boulder or Longmont or the north part of Denver.
All that and no mortgage. The recruiters who email me face an uphill battle trying to convince me that I want to live in the Bay Area again. I miss my Bay Area friends, for sure. But it would take something really compelling to make me want to return.
- bcassedy 11y agoSeriously though, "any engineer with a decent job?". Where are these 200k+ jobs being advertised? Most that I see want to pay 100-170k (and you have to be amazing to get that 170k). Even Netflix which has a reputation for paying well is paying sub-200k for the most part. And at 200k you can just barely afford a 1 million dollar home.
- nostrademons 11y agoIt's total comp, not salary. Most of the time, these engineers making $300K+ per year are taking in about $150K salary, $100K in stock options or RSUs, and $50K in cash bonuses. Catch the right company and the stock could be worth a lot more, but then, catch the wrong one and it could be worth a fair bit less.
- SomeCallMeTim 11y agoYes, exactly.