Several of the comments here entertain the idea you can get wealthy in the Bay Area working working for an established company, not equity. I have never understood the math.
Let’s say you earn an outrageous salary working for a FAANG of about $450,000. That is about 3x the equivalent where I live for the same work but taxes are substantially higher and housing costs 6-10x. Numerically it doesn’t make any sense when the current value of my house (after doubling in value) is barely the downpayment of a house in the valley. Apartments are also ridiculously expensive and I would want to live in a tiny apartment with kids (my own, not roommates).
Then the other argument is that the valley is where the jobs are. My experience is that if you are an experienced and half competent software engineer there are plenty of jobs in every major metro.
So if I already have a high paying job and own real estate what is the pull to move to the Bay Area?
Let’s say you earn an outrageous salary working for a FAANG of about $450,000. That is about 3x the equivalent where I live for the same work but taxes are substantially higher and housing costs 6-10x. Numerically it doesn’t make any sense when the current value of my house (after doubling in value) is barely the downpayment of a house in the valley. Apartments are also ridiculously expensive and I would want to live in a tiny apartment with kids (my own, not roommates).
Then the other argument is that the valley is where the jobs are. My experience is that if you are an experienced and half competent software engineer there are plenty of jobs in every major metro.
So if I already have a high paying job and own real estate what is the pull to move to the Bay Area?