7 ms·
$150 Oklahoma == $400 FAANG
by supportlocal4h 6y ago
$150 Oklahoma == $400 FAANG
- chii 6y agono, that's not true. $150k is $150k, and even tho the CoL is high in the bay area, getting $400k can get you further in a shorter time. If you were able to save a percentage of your income, then that percentage is going to result in a higher amount for the FAANG salary.
- bbarnett 6y agoQuite. An example, is buying a house.. and rent pricing reflects purchase price. If you buy and pay off a house, you have "spent" that salary in both locations. However, when you retire, you have property worth a LOT more in SV. So while the "take home" pay, after expenses is the same with 150/400, the equity is massively different.
- humanrebar 6y agoThis is why I evaluate my estimation of my savings rate with that position and location, not salary. Everyone does a minor version of this with taxes and rent. I just take that to its conclusion and only measure a YoY delta in savings.
- badpun 6y agoIn HCOL locations, after 10-15 years of high pay work, you end up with a massive equity in your property (assuming you weren't renting), often enough to just retire in 99% of the places in the world. You don't get that in Oklahoma.
- supportlocal4h 6y agoIn Oklahoma you also build a bunch of equity in your home. What's even better is you don't have to sell your home to retire and move out of California. You just retire. You already live in Oklahoma in your dream house that is paid off.
- Consultant32452 6y agoYou also have a 10-15 year head start on creating realtionships/roots and don't have to leave all your friends behind.