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> After utilities you're easily over $4k a month. If you scrimped you could maybe keep your other household costs under $500 a month (realistically you're looki

> After utilities you're easily over $4k a month. If you scrimped you could maybe keep your other household costs under $500 a month (realistically you're looking at $1k). So you're looking at a take-home of $4.5-5k to just stay afloat This is more than accessible to tech workers at public companies. A 150k income is going to be ~7k a month after taxes. Tier one employers pay significantly more than that to new grads, and pretty much everyone reputable in the bay pays more than that to experienced people. So yeah, single income can absolutely afford a home. Obviously someone with student loans can't do that as quickly, but otoh a dual income family could put $2M down in cash before they turn 30 given moderate success. (Or another way of looking at this is a moderately successful mid-20s SWE can bank 100k/yr after all expenses and retirement savings, without budgeting strictly. That's ridiculous)

giantrobot 6y ago
Who is offering new grads $150k regularly? What new grad making $150k is going to qualify for a loan on a million dollar house? Where are they getting a down payment? Where are they saving up hundreds of thousands with $3-4K rents before other expenses? How the shit is a dual engineer income saving up $2m in cash by the time they're 30 even with no student loans? A SWE in their 20s banking $100k a year? Must be nice.
- joshuamorton 6y ago
  > Who is offering new grads $150k regularly? Google, Amazon (and subsidiaries like Twitch), Microsoft (and subsidiaries like Github), Facebook, Linkedin, Stripe, Square, Lyft, Uber, Snap, Oracle, Apple, Dropbox, Box, Nvidia, Twitter, Slack, Salesforce, ByteDance and a slew of others. And I'm including only companies that pay out 150K in cash equivalents (cash + annual bonus + liquid stock) in that list. After a promotion, that list probably doubles in size. > What new grad making $150k is going to qualify for a loan on a million dollar house? I don't think I ever suggested this. What I did suggest is that someone who graduates at 22 or 23 (and, with the big caveat that they do so with little to no existing debt), gets a 150K starting comp, and has even a modest amount of career growth will be able to save a whole bunch of money in their late twenties. > A SWE in their 20s banking $100k a year? Must be nice. Like I said, its absolutely ridiculous.

giantrobot 6y ago

Who is offering new grads $150k regularly? What new grad making $150k is going to qualify for a loan on a million dollar house? Where are they getting a down payment? Where are they saving up hundreds of thousands with $3-4K rents before other expenses? How the shit is a dual engineer income saving up $2m in cash by the time they're 30 even with no student loans? A SWE in their 20s banking $100k a year? Must be nice.

joshuamorton 6y ago
> Who is offering new grads $150k regularly? Google, Amazon (and subsidiaries like Twitch), Microsoft (and subsidiaries like Github), Facebook, Linkedin, Stripe, Square, Lyft, Uber, Snap, Oracle, Apple, Dropbox, Box, Nvidia, Twitter, Slack, Salesforce, ByteDance and a slew of others. And I'm including only companies that pay out 150K in cash equivalents (cash + annual bonus + liquid stock) in that list. After a promotion, that list probably doubles in size. > What new grad making $150k is going to qualify for a loan on a million dollar house? I don't think I ever suggested this. What I did suggest is that someone who graduates at 22 or 23 (and, with the big caveat that they do so with little to no existing debt), gets a 150K starting comp, and has even a modest amount of career growth will be able to save a whole bunch of money in their late twenties. > A SWE in their 20s banking $100k a year? Must be nice. Like I said, its absolutely ridiculous.