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Good point. The other aspect that I didn't buy too much was the original blog entry claims the salary is enough since the founders themselves have kids and are

Good point. The other aspect that I didn't buy too much was the original blog entry claims the salary is enough since the founders themselves have kids and are living in San Francisco. They are coming from a point of economic safety from prior successful ventures and maybe are on multiple boards with other income streams. Anyways. I like the intent so I won't be too critical.

deleted 1y ago
[deleted]
steveklabnik 1y ago
The Bay Area is expensive, but I assure you that many families with kids live on less than $207,264. That said, everyone has their own personal requirements, and startups aren't for everyone. Around a quarter of the company, last I checked, lives in the Bay area, so while we obviously miss out on some good people who want more money, we haven't had an issue with finding enough people who are happy with the compensation. (I myself took a pay cut to join Oxide, but I live in Austin, which isn't cheap but also isn't as expensive.)
- setheron 1y ago
  I disagree based on my own personal experience of raising kids in California but they are all young and I'm paying quite a lot for preschool :P I'm also carrying a mortgage as I'm younger which is ~30-40% of my take home pay. Total tangent: 2024 Jujutsu was my favorite tool to learn and your posts helped me learn it. Thank you.
  - steveklabnik 1y ago
    https://www.sfchronicle.com/california/article/how-much-money-to-be-considered-rich-bay-area-19420480.php https://www.sfchronicle.com/california/article/how-much-mone... > the [SF metro] area’s median household income [was] roughly $120,000 [in 2022] That, being the median, includes a lot of folks who make less. > Total tangent: Awesome, so glad to hear it! You're welcome. I wish I could find more time to continue writing V2...
parrit 1y ago
Yeah $175k plus 30% say stake in high growth company plus already owns home plus parents help woth kids and they own home nearby is different to $175k none of above.
- steveklabnik 1y ago
  That $175k was pre-pandemic, as the post says, it's $207,264 now. I'd also say that you're presuming a lot about the lifestyle of some strangers on the internet.
  - ahl 1y ago
    Which is $167,202 in pre-pandemic, inflation-adjusted dollars.
  - parrit 1y ago
    That's the point. "$175k is good enough for me" doesn't mean much, especially as they also have a large stake in the company (not an assumption) as well as possibly other advantages (or not, they dont divulge). Don't get me wrong. Rethinking comp is great and they are paying well. But you can't make the argument that X is enough for founders (plus let's forget equity!!) and so X is generous for everyone.
    - steveklabnik 1y ago
      We all receive equity.
      - mrcwinn 1y ago
        All the same equity, I assume?
        steveklabnik 1y ago
        No, it’s variable. This is covered in this thread and in the original article.

deleted 1y ago

[deleted]

steveklabnik 1y ago

The Bay Area is expensive, but I assure you that many families with kids live on less than $207,264. That said, everyone has their own personal requirements, and startups aren't for everyone. Around a quarter of the company, last I checked, lives in the Bay area, so while we obviously miss out on some good people who want more money, we haven't had an issue with finding enough people who are happy with the compensation. (I myself took a pay cut to join Oxide, but I live in Austin, which isn't cheap but also isn't as expensive.)

setheron 1y ago
I disagree based on my own personal experience of raising kids in California but they are all young and I'm paying quite a lot for preschool :P I'm also carrying a mortgage as I'm younger which is ~30-40% of my take home pay. Total tangent: 2024 Jujutsu was my favorite tool to learn and your posts helped me learn it. Thank you.
- steveklabnik 1y ago
  https://www.sfchronicle.com/california/article/how-much-money-to-be-considered-rich-bay-area-19420480.php https://www.sfchronicle.com/california/article/how-much-mone... > the [SF metro] area’s median household income [was] roughly $120,000 [in 2022] That, being the median, includes a lot of folks who make less. > Total tangent: Awesome, so glad to hear it! You're welcome. I wish I could find more time to continue writing V2...

parrit 1y ago

Yeah $175k plus 30% say stake in high growth company plus already owns home plus parents help woth kids and they own home nearby is different to $175k none of above.

steveklabnik 1y ago
That $175k was pre-pandemic, as the post says, it's $207,264 now. I'd also say that you're presuming a lot about the lifestyle of some strangers on the internet.
- ahl 1y ago
  Which is $167,202 in pre-pandemic, inflation-adjusted dollars.
- parrit 1y ago
  That's the point. "$175k is good enough for me" doesn't mean much, especially as they also have a large stake in the company (not an assumption) as well as possibly other advantages (or not, they dont divulge). Don't get me wrong. Rethinking comp is great and they are paying well. But you can't make the argument that X is enough for founders (plus let's forget equity!!) and so X is generous for everyone.
  - steveklabnik 1y ago
    We all receive equity.
    - mrcwinn 1y ago
      All the same equity, I assume?
      - steveklabnik 1y ago
        No, it’s variable. This is covered in this thread and in the original article.