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Immigrate to the United States, specifically to the Bay Area. The best companies are built in the Bay Area, because there is a huge amount of talent, and the li
by rmk 5y ago
Immigrate to the United States, specifically to the Bay Area. The best companies are built in the Bay Area, because there is a huge amount of talent, and the living standards are very high because of moderate climate, excellent food and produce, multiculturalism, decent infrastructure and excellent connections to the rest of the world. The access to opportunities to work at excellent technology companies at any stage (a twinkle in someone's eye to mature, established market maker) is simply not matched by any other place, period. This is despite horrific public transportation, ridiculous housing costs, sky-high taxation, general intolerance to non-left-leaning political viewpoints, NIMBYism and rampant environmental degradation (Silicon Vally is blanketed with EPA superfund sites). In fact, the Bay Area attracts orders of magnitude more venture capital that's invested in its main metropolitan areas than any other place in the world.
As far as the job market is concerned, I wouldn't worry at all.
A few caveats:
1. Give up any expectation of owing a home (to be precise, a single-family home with a yard) in Silicon Valley proper.
2. If you want to follow the conventional path of marrying and raising children, then marry a someone who can pull the same compensation as you (software developer, doctor, lawyer at white-shoe firm). You can't raise kids on one income here (you can't send them to private school, for instance) unless you are absolutely certain that the public school system will work out for your child.
3. Be prepared to be very lonely if you do not have a friends' circle already established here. It is difficult to make friends and connections and keep up because of the all-consuming nature of work and distances involved (e.g., Palo Alto to San Francisco takes 1 hour minimum, so expect to spend 2 hours simply on driving to and from your friends in the City or down in the Peninsula or South Bay).
4. If you are old (i.e., 35+), then you will have more difficulty getting into good jobs. Ageism is rampant and job interview processes are geared towards young or unattached people who can spend a great deal of time on tech interview prep on an ongoing basis. As changing jobs regularly (2 years is now considered the norm) is the only good way of keeping your comp at market level, expect to be in interview mode for at least half your tenure at every job (assuming your tenure is 2 years).
- joconde 5y ago> Be prepared to be very lonely if you do not have a friends' circle already established here. That's an absolutely prohibitive cost, and not how I want to spend my 20s and 30s. Thank you for mentioning it. I'm not sure the high salaries are worth everything you mentioned. My current area is a bit like that, but at least the big cities are closer. Do you work there? How do people deal with the isolation?
- rmk 5y agoWhile the problems I have mentioned are big ones, the day to day is generally quite pleasant. Also, if hybrid work takes hold, then owning housing may be less of a pipe dream provided you are okay with long commutes. People deal with the isolation by taking up hobbies and joining affinity groups that are associated with them. For this there is a lot of opportunity. I should also point out that high salaries will be eaten up completely by the sky high costs of everything in the Bay Area. It’s only equity windfalls, if properly invested, that will truly get you into a good place financially. A lot of people decide that a few years of this will net them enough money to attain their goals someplace cheaper (the Sun Belt, for instance), so they jump into the rat race with the understanding that it is finite and transient.
- joconde 5y ago> I should also point out that high salaries will be eaten up completely by the sky high costs of everything in the Bay Area. Interesting. Can you define "eaten up"? With my west-European salary, I can save around 1k/month. Since junior SWEs in California can apparently make 100 to 150k, I imagine that an "eaten-up" 300k would still let me save much, much more than in Europe. Is that unrealistic?
- rmk 5y ago300k will last if you are a dual income couple with no kids and you don’t live extravagantly. Here’s a breakdown 105000 in taxes. 36000 towards maxing out your retirement accounts. 9000 in other investments and savings per year. 55000 - 60000 per year for renting a house with a yard in a good location. 5000 - one small vacation per year. 12000 - grocery and food expenses. 2500 - Insurance for two high end cars. 4000 - Gas for two cars plus maintenance expenses. 1800 - Internet and cellphone per year. 600 - Streaming for a couple of services per year. 3000 - Health Insurance out of pocket expenses per year. 5000 - other entertainment expenses such as gifts for friends, fine dining, concerts etc. 4000 - Home goods, utilities per year. You have spent 243000 roughly so far. If you have children 25000 per year per child for childcare for young children or 12-13000 per year per child for after school care and summer camps per kid If you send children to private school, 20000 per year per child. Miscellaneous expenses for children: 2000 per year per child. If you have one child and don’t send him to public school, you are out an additional 35000 for 278000. If you send him to public school you are out 258000. If you have two children and don’t send them to public school you are now out an additional 70000 for 313000. If you send both to public school you are out 273000.