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Old 08-12-2019, 10:27 AM
 
4,631 posts, read 4,786,425 times
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Quote:
Originally Posted by Serious Conversation View Post
But working for Google and Apple is cream of the crop.

For people at that level of their profession, sure, it's probably worth it to live in the Bay Area. Most software engineering jobs don't pay that and don't have the prestige of Google.
Very true, plus keep in mind cost of living and the fact that half of the compensation is RSUs.

Let's use where I live as an example. I used to work in tech for a large company. A typical software engineer at that level would have a comp package like this:

Signing Bonus: ~ $10k + full relocation (relo vests at 3 years) my relo cost about $25k
Base: $135k
Bonus: 25% of base pay, so ~ $34k
RSUs: $35k/yr (25% vests each year)

and all of this was performance based, so if your performance review was a 5 instead of a 3 the RSUs would be about another $10k and the Bonus would be about another $8-$10k, and 4 would be RSUs of an additional $5-$7k and an additional bonus of $5-$7k.

So total compensation over 4 years assuming just a solid performer (3):

~ $190k/yr

When you factor in cost of living that would equate to a total compensation package in the Bay area of: ~ $400k.

Last edited by mizzourah2006; 08-12-2019 at 10:41 AM..
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Old 08-12-2019, 12:14 PM
 
2,503 posts, read 646,922 times
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Quote:
Originally Posted by Vana360 View Post
I use to know someone in a large company that had locations through the U.S., including HCOL areas and LCOL areas and the pay difference wasn’t significant enough to justify working in the HCOL area. In other words, you made out better somewhere in between or in a LCOL.
Frequently, HQ is in the HCOL area. HQ is where the promotion opportunities are located. You sacrifice standard-of-living now for career advancement with higher pay in the future.
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Old 08-12-2019, 12:25 PM
 
143 posts, read 28,100 times
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Quote:
Originally Posted by DKM View Post
Often the opposite is true in medicine, but that's because HCOL areas tend to be more desirable to live in.
Yeah I mentioned this in my previous post. There's a relative surplus of MDs in HCOL areas because that's where all the med schools/residency programs are and that's where highly educated people generally want to live.
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Old 08-19-2019, 02:22 PM
 
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Here is a site I posted on the CT site before. In general HCOL states have higher salaries. But as mentioned its very job specific. This link allows you to sort by occupation so you can look at it.

http://www.rasmussen.edu/career-cent...lary-by-state/

When you sort by occupation you get some weird results where your better off in high or low areas. and sometimes you get a high and low area right next to each other.

I have lived only in a medium high COL and a really low one. In general finding a job that met COL was easier in the HCOL but at that time I was working in an industry where the clients tend to have money, so that's a bit self selecting.

When I worked in sales I applied to a number of jobs east of the Mississippi in general I found salary lower in LCOL states, with some exceptions, mostly places I didn't want to move too like FL.

At my current specialty manufacturing management position, I'm mostly better off in HCOL areas with a few exceptions, where there are LCOL that are short on people to fill those type positions.
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Old Today, 12:53 PM
 
Location: Tennessee
24,106 posts, read 17,928,381 times
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Quote:
Originally Posted by RationalExpectations View Post
Frequently, HQ is in the HCOL area. HQ is where the promotion opportunities are located. You sacrifice standard-of-living now for career advancement with higher pay in the future.
Absolutely.

I used to work for Northrop Grumman. The HQ is in northern VA. They have various "operations centers" doing meatball work throughout the state of Virginia. If you don't work for an office based in Richmond or northern VA, opportunities are limited.
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Old Today, 01:01 PM
 
Location: Tennessee
24,106 posts, read 17,928,381 times
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Quote:
Originally Posted by East of the River View Post
Here is a site I posted on the CT site before. In general HCOL states have higher salaries. But as mentioned its very job specific. This link allows you to sort by occupation so you can look at it.

http://www.rasmussen.edu/career-cent...lary-by-state/

When you sort by occupation you get some weird results where your better off in high or low areas. and sometimes you get a high and low area right next to each other.

I have lived only in a medium high COL and a really low one. In general finding a job that met COL was easier in the HCOL but at that time I was working in an industry where the clients tend to have money, so that's a bit self selecting.

When I worked in sales I applied to a number of jobs east of the Mississippi in general I found salary lower in LCOL states, with some exceptions, mostly places I didn't want to move too like FL.

At my current specialty manufacturing management position, I'm mostly better off in HCOL areas with a few exceptions, where there are LCOL that are short on people to fill those type positions.
Here's another scenario I've experienced.

I live in a low cost, low wage area that has at least a half dozen colleges and universities. Seemingly lucrative like accounting and computer science has very few openings here. With so many new graduates every year, the pay is actually bid down due to an oversupply of labor. Using the terminology of this website, a new grad computer systems analyst here is likely to earn less than a new K-6 teacher.

That's flipped in healthier areas.
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