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Do any of you notice a higher standard of living to go along with those 'bloated bay area salaries', or does it all end up going to taxes?
Six figure salaries are common here in Chicago, but so are double digit taxes that eat up a large part of that pay.
I'm an experienced BI programmer, and my wife can get a job anywhere (gov't transfer). She'd move to somewhere like San Diego tomorrow if it meant we could afford living in something other than a 600 sqft shack.
That shack is 2.25x as big as my Manhattan studio
I'm also aiming to hit the 6 figure mark, but I need to become a better Software Engineer. My old roommate makes $130k going on 160k and he's younger than me, though we essentially do the same things at work.
Do any of you notice a higher standard of living to go along with those 'bloated bay area salaries', or does it all end up going to taxes?
The standard of living in SF is pretty high, and the median household income is about $70k, which means 50% of the people living in SF make that much. Educational attainment is very high as well, meaning that future earnings potential is also high. Basically, SF is ridding itself of the poor who can't afford to live there, becoming a sort of upper class enclave.
The standard of living in SF is pretty high, and the median household income is about $70k, which means 50% of the people living in SF make that much. Educational attainment is very high as well, meaning that future earnings potential is also high. Basically, SF is ridding itself of the poor who can't afford to live there, becoming a sort of upper class enclave.
I've never seen more homeless people than my visit to San Fran, maybe those people were only making 40k annually but I was surprised
There's so many multi-six-figure incomes on this thread, I'd be pretty interested in how people got there. I made a goal to be 6 figures by the time I'm 30 and it doesn't look like I'll make it. Multi-six-figures just a handful of years later seems so far out of the realm of possibility I can't even fathom it.
Given that the median U.S. HOUSEHOLD income as measured by the census bureau was $53,647 in 2014, there is clearly something skewed on this board. People here are way, Way, WAY above the median. 6 figure household puts you in the top 19%. For individuals, in the top 10%.
For households with a net worth over $500K that similarly puts them in the top 20% of all households, 1 million in the top 10%. For individuals, 10% and 5% respectively.
So either we've got a bunch of b.s.ers or we've got a board made up of elites. If you are in the top 10% of anything you are by definition one of the elites. People saying that anyone can achieve this kind of net worth is obviously exaggerating, since 100% of people cannot possibly be in the top 10% of anything ever.
Given that the median U.S. HOUSEHOLD income as measured by the census bureau was $53,647 in 2014, there is clearly something skewed on this board. People here are way, Way, WAY above the median. 6 figure household puts you in the top 19%. For individuals, in the top 10%.
For households with a net worth over $500K that similarly puts them in the top 20% of all households, 1 million in the top 10%. For individuals, 10% and 5% respectively.
So either we've got a bunch of b.s.ers or we've got a board made up of elites. If you are in the top 10% of anything you are by definition one of the elites. People saying that anyone can achieve this kind of net worth is obviously exaggerating, since 100% of people cannot possibly be in the top 10% of anything ever.
I'm sure there are plenty of bsers but you have to realize the avg american doesn't frequent economics forums or personal finances sub forums. Just frequenting the place puts you in a different grouping
I'm sure there are plenty of bsers but you have to realize the avg american doesn't frequent economics forums or personal finances sub forums. Just frequenting the place puts you in a different grouping
100% correct.
Quote:
Originally Posted by redguard57
Given that the median U.S. HOUSEHOLD income as measured by the census bureau was $53,647 in 2014, there is clearly something skewed on this board. People here are way, Way, WAY above the median. 6 figure household puts you in the top 19%. For individuals, in the top 10%.
For households with a net worth over $500K that similarly puts them in the top 20% of all households, 1 million in the top 10%. For individuals, 10% and 5% respectively.
So either we've got a bunch of b.s.ers or we've got a board made up of elites. If you are in the top 10% of anything you are by definition one of the elites. People saying that anyone can achieve this kind of net worth is obviously exaggerating, since 100% of people cannot possibly be in the top 10% of anything ever.
Yes, see the folks here on City Data's Economics section are not the norm. Just look at the discussions we have in full fledged detail? We debate Index Funds, the Federal Reserve, the Fed Funds Rate, Stock Bubbles, College Bubbles, shifting Macro economic forces, etc.
The "average" American has no damn clue what ANY of these concepts or entities are.
So I would NOT take the average economic standing of the members on this section to be in representation of the majority of America, because this section does not represent the majority of America.
It's similar to why I get ticked off at some of these compensation salary reports that average out for example, how much Sales Professionals make in a particular Industry. Usually the reports will show 6 figure compensation figures, but the members PARTICIPATING in said survey are usually those in the top tier of the income earning tier, not the ones in the lower tier.
If the "average" American were on this section, or more of the working class or lower middle class people were, you would not see the numbers you have been seeing. For the most part, for people around my age bracket (25 - 40) you would see significantly higher listings of NEGATIVE net worths and unstable salaries.
If you asked what people can bench in a bodybuilding forum, you'd get skewed results and bsers there too.
In a bodybuilding forum they're going to tell you whether you ask or not.
Heck, you could go to the CD Exercise/Fitness subforum and ask what color the sky is and about 90% of responses you'd get are "When I first started weight training I could only squat 350lbs and the sky is blue."
Given that the median U.S. HOUSEHOLD income as measured by the census bureau was $53,647 in 2014, there is clearly something skewed on this board. People here are way, Way, WAY above the median. 6 figure household puts you in the top 19%. For individuals, in the top 10%.
For households with a net worth over $500K that similarly puts them in the top 20% of all households, 1 million in the top 10%. For individuals, 10% and 5% respectively.
So either we've got a bunch of b.s.ers or we've got a board made up of elites. If you are in the top 10% of anything you are by definition one of the elites. People saying that anyone can achieve this kind of net worth is obviously exaggerating, since 100% of people cannot possibly be in the top 10% of anything ever.
If you can use a computer, navigate to City-Data, and post a comment in intelligible English you're above the median in ability.
I'm guessing there are people here who don't make much money but they don't brag/complain about it as much as those who do.
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