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Cost of living adjustments are nothing new, so I'm not sure why people seem surprised by them. If a person moves somewhere with lower taxes or housing costs, th
by kdamica 6y ago
Cost of living adjustments are nothing new, so I'm not sure why people seem surprised by them. If a person moves somewhere with lower taxes or housing costs, they'll easily come out even after a 10-15% pay cut. Also it sounds like only salary is affected, so it's an even smaller percentage of total comp.
- jlizzle30 6y agoSo should Oakland residents be paid less than San Francisco residents?
- GhostVII 6y agoOakland residents and San Francisco residents are in the same job market, so they have the same salary.
- jlizzle30 6y agoExactly. And now with full-remote work, NYC & Tulsa the same job market too.
- shajznnckfke 6y agoCompanies with HQ in Oakland do tend to pay less. For a company with HQ in SF, I think they consider the employee pays for the Oakland savings with a worse commute, and since the employee is willing to work in SF they have to compete with SF salaries.
- akhilcacharya 6y agoThis is real strange to me especially, since at my company I believe all of SFBA and NYC is +15% TC, but the rest of the country from Madison to Tempe to Boston are all the same TC band.
- ffggvv 6y agoequity is only the same for existing employees... which is standard practice. but usually it would be lower for new employees who start remote
- brown9-2 6y agoIt’s not surprise, but anger that companies with skyrocket valuations are looking to cut costs this badly.
- GhostVII 6y agoI think if you are making 200k a year (which you almost certainly are at Stripe) you probably aren't in a position to complain about salary. I don't have much sympathy for someone complaining that instead of making an absurd amount of money in an expensive area, they are now making a slightly less absurd amount of money in a cheap area.
- brown9-2 6y agoThis is the kind of thinking that keeps us focused on the middle income portion of the company - the 200k/year earners deserve it! - rather than the extreme wealth end. And it’s not a justification for cutting anyway, when the value produced by the employee is unchanged.