5 ms·
Er...isn't the general agreement that if you want to get rich you absolutely should not go work for or found a startup but instead get a steady job at big corp
by kamarg 8y ago
Er...isn't the general agreement that if you want to get rich you absolutely should not go work for or found a startup but instead get a steady job at big corp and live below your means? People are always on about how shares in a startup should be counted as $0 compensation. Not to mention $93k doesn't go very far in places with large populations and high job prospects.
- _bxg1 8y ago1) I assume the $93k isn't in SV and Seattle 2) The general wisdom if you want to get financially well-off is what you describe. Those who'd prefer to risk it all for a shot at being filthy rich do startups.
- VRay 8y agoSome people on this thread think of "comfortable" as: "Own a decent house/condo within 20 minutes of work", and they're right, Seattle/SF isn't "comfortable" at 93k Everyone ELSE on this thread needs to learn how to manage their finances. $93k in Seattle is $65k after taxes, call it $50k after putting $15k a year into your retirement plan. Remainder: $4100 a month post-tax You can rent a small apartment within 30-60 minutes of downtown for $1500 a month, leaving $2600 for utilities, groceries, entertainment, etc. That's a good $50 a day left over for food and entertainment, easily. I'd call that comfortable, personally. That said, I wouldn't take an offer in Seattle for less than $200k and I wouldn't take an offer in Silicon Valley for (SeattlePay+$12,000)/0.9 because of the higher rent and state income tax
- ummonk 8y agoFounding a startup is a decent way to get rich, although a big roll of the dice. Joining one is not though.
- _bxg1 8y agoDepends whether you get shares, or an in with a crucial VC