How on earth do any young people afford San Fran? (San Francisco: rental, mortgages)

[roadwarrior101]

Originally Posted by likealady

What the hell do they do? Good lord.

Employees at Google, Facebook or another top company can easily hit this mark in a Software Engineering, Product Management or other comparable role a few years out of college. You're talking about a 6 figure salary, a decent bonus and annual RSU awards which are often in the 6 figures.

[bmw335xi]

Originally Posted by likealady

What the hell do they do? Good lord.

I find it hard to believe too. I have friends in SF who graduated from UCB and USF. They work in tech, finance and wealth management. They have good jobs, good careers, but $300k? None of them. I know there are tech jobs that do pay that much, but to make it sound like all of them who work in tech make that isn't the case from at least my circles. If true though, good for them. I just personally think the mom is getting an exaggerated answer. $150k-200k sure, but a $300k average for people in their 20s...

[04kL4nD]

It's an exception, not the norm. These people likely are Stanford/Cal/Ivy League grads that had connections. However, there are plenty of younger people making well over 100k, which is kinda nuts, and just goes to show you have insanely expensive SF is.

[stoxdiamond]

Originally Posted by bmw335xi

I find it hard to believe too. I have friends in SF who graduated from UCB and USF. They work in tech, finance and wealth management. They have good jobs, good careers, but $300k? None of them. I know there are tech jobs that do pay that much, but to make it sound like all of them who work in tech make that isn't the case from at least my circles. If true though, good for them. I just personally think the mom is getting an exaggerated answer. $150k-200k sure, but a $300k average for people in their 20s...

You can live relatively comfortable as a single person in SF making $150K. You won't have any savings but you won't be homeless.

[Ultrarunner]

There is SF proper and much more in the vicinity... maybe being 20-30 minutes would be less expensive.

[likealady]

Originally Posted by bmw335xi

I find it hard to believe too. I have friends in SF who graduated from UCB and USF. They work in tech, finance and wealth management. They have good jobs, good careers, but $300k? None of them. I know there are tech jobs that do pay that much, but to make it sound like all of them who work in tech make that isn't the case from at least my circles. If true though, good for them. I just personally think the mom is getting an exaggerated answer. $150k-200k sure, but a $300k average for people in their 20s...

I agree. I have a few friends who've worked at Facebook and neither were making 300k, one was senior manager level with lots of experience. Even with stocks and bonuses I highly doubt it's that much. Look on Glassdoor and you will see FB lists those salaries for director/c-level execs maybe senior engineers. Outside of the big names engineers are NOT making anywhere near that money. If they are making that much I find it very off-putting considering 95% of these tech companies are fluff and most spend their time BSing instead of actually doing meaningful work.

If young people are making that much here, well no wonder so many of them are all entitled pricks. Handed huge sums of money without putting in their time or actually doing good work. From my experience working at a handful of the companies out here, it's no wonder so many companies are dysfunctional- they've got babies with no experience managing them.

[basehead617]

Originally Posted by bmw335xi

I find it hard to believe too. I have friends in SF who graduated from UCB and USF. They work in tech, finance and wealth management. They have good jobs, good careers, but $300k? None of them. I know there are tech jobs that do pay that much, but to make it sound like all of them who work in tech make that isn't the case from at least my circles. If true though, good for them. I just personally think the mom is getting an exaggerated answer. $150k-200k sure, but a $300k average for people in their 20s...

Check this link and click the levels..

https://www.levels.fyi/?compare=Appl...are%20Engineer

Once you're not on the first rung (e.g. your first promotion), total compensation goes through the roof due to stock and bonuses.

[CaliforniaPlaya]

Originally Posted by chahunt

I want to work as a registered nurse in San Fran, due to the high wages, but am unsure of where I would stay overnight, or getting around town. Maybe BART, uber, or walk/bike. I'd fly in for 3 shifts and then fly home to Nevada. Anyone have any recommendations? Couch surfing opportunities for a few times a week?

Lots of travel RNs do this. I work at UCSF, we have many that do the same, not all on a weekly basis, but many are a lot further away. A lot know someone in the area and stay there or do AirBNB or a hotel. That can get pricey at times like this week when DreamForce is in town and no hotel rooms are to be had anywhere in the area. Uber/Lyft or bike would be your best options, don't even bother with a car. Good luck!

[tijlover]

Originally Posted by Camo_Butterfly

I'm surprised more wealthy folks haven't fled the state given the high taxes.

They're playing it smart! They know the housing prices will keep rising, the Nimby's will continue to put a kabosh on housing developments, and when they do sell, they can afford to buy 3 or 4 houses elsewhere in the country. One for each season!

I met a number of them when living in Las Vegas. They sold their houses at ungodly prices at 50+ years old, bought a cheapie in Las Vegas, and will never have to work again, and in NV, no state income taxes!

[jade408]

Originally Posted by ssmaster

I said middleclass lifestyle. Sociologists and economists determine class by consumption not salary because because of geographic variation in cost of living.

Owning a home in a desirable area
Sending kids to good public school or private school
Owning a car
Saving for retirement
Saving for kids college
Affording a vacation at least once a year (not camping!)

People in the Bay Area believe these are luxuries. This is not luxury living.
This is what is considered middle class or upper middle class lifestyle in America. In the urbancore Bay Area you will need at least $350,000(likely more).

If you are in SAN Francisco and living the same lifestyle as someone making $18,000 in Modesto you are not living a middle class lifestyle.

And Saying I chose to rent if you make enough to buy would be foolish because if you are making that kind of money you need the tax deductions especially in California.

Exactly. This is the basic middle class list and in the Bay Area you need to be in the top 10% if income to get it. This is pretty doable on $100k in Ohio. Or Georgia. Or Illinois. Etc.