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Pretty much if you ever double your salary you will come out ahead as everything else doesn't double. (And even if it does, your savings also doubled so you can
by lesuorac 2y ago
Pretty much if you ever double your salary you will come out ahead as everything else doesn't double. (And even if it does, your savings also doubled so you can retire to a lower cost of living and come out ahead).
If you go from say 120k to 240k in salary your housing may go from say 1k (12k/year) to 3k (36k/year) but at the end of the year 120k-12k is 108k while 240k-36k is 204 which is a net gain of 96k!
Of course you still need to eat and stuff but when you check out the "Regional Price Parity" [1] you'll see that nowhere do things actually become twice as expensive. So you're really getting a 2x boost in salary in exchange for a 1.3x increase in expenses.
[1]: https://www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area https://www.bea.gov/data/prices-inflation/regional-price-par...
- free_energy_min 2y agoyour salary is probably not doubling fully post-tax though
- lesuorac 2y agoYMMV. At least for me since the compensation tripled, the salary effectively doubled post-tax. Given that the BLS puts the median programmer at 99k/yr [1] I think your salary will double if you go to the bay area. [1]: https://www.bls.gov/oes/2023/may/oes151251.htm https://www.bls.gov/oes/2023/may/oes151251.htm