Silicon Valley salaries, why don't more people understand they are tied to location? (highest, owner)
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Sure, some of those guys/gals are really skilled. But I think a lot of people don't realize a big part of the reason some of them make 150-200K a year is because of the high cost of living there. The vast majority of them make 110-125K a year from what I've read.
If that same person got a job in Bangladesh, they aren't going to get paid SV salaries, they are going to get Bangladesh salaries due to the lower cost of living there.
Same reason people don't understand pensions are tied to employers, half of the people on cd seem to want a pension and the same half have no problems job hopping
I think people get it. To attract talent to a place with high housing costs is going to require high salaries and potential for higher salaries.
The real trick is to work for a company based out of there while living somewhere else - it's possible to negotiate pay a bit better than what the going rate is in your neck of the woods, much of the time.
Sure, some of those guys/gals are really skilled. But I think a lot of people don't realize a big part of the reason some of them make 150-200K a year is because of the high cost of living there. The vast majority of them make 110-125K a year from what I've read.
If that same person got a job in Bangladesh, they aren't going to get paid SV salaries, they are going to get Bangladesh salaries due to the lower cost of living there.
I think most people get it, it's similar to any place with a high cost of living, just like garbage men, with high school diplomas or less, making over $100k in NYC.
Molina made $112,000 last year as a garbage truck driver and Sankar made $100,000 as a helper, riding on the back of the truck. Their wages have grown in eight of the last nine years, according to their bosses, brothers David and Jerry Antonacci, owners of Crown Container, a waste management company.
Nationwide, the annual salary for a garbage truck driver is $40,000, according to the Labor Department. Across all professions, high school dropouts earn about $24,000, while high school graduates make $30,000 annually, according to the U.S. Education Department.
Molina and Sankar are aware that they outearn many people with a college degree.
Guys who go to college might not make the kind of money "(I make) on the back of a garbage truck, picking up trash," says Sankar.
I think most people get it, it's similar to any place with a high cost of living, just like garbage men, with high school diplomas or less, making over $100k in NYC.
Molina made $112,000 last year as a garbage truck driver and Sankar made $100,000 as a helper, riding on the back of the truck. Their wages have grown in eight of the last nine years, according to their bosses, brothers David and Jerry Antonacci, owners of Crown Container, a waste management company.
Nationwide, the annual salary for a garbage truck driver is $40,000, according to the Labor Department. Across all professions, high school dropouts earn about $24,000, while high school graduates make $30,000 annually, according to the U.S. Education Department.
Molina and Sankar are aware that they outearn many people with a college degree.
Guys who go to college might not make the kind of money "(I make) on the back of a garbage truck, picking up trash," says Sankar.
That actually has more to do with Unions (mafia) than location, especially if people with a degree there don't make that much in many cases...
I think people get it. To attract talent to a place with high housing costs is going to require high salaries and potential for higher salaries.
The real trick is to work for a company based out of there while living somewhere else - it's possible to negotiate pay a bit better than what the going rate is in your neck of the woods, much of the time.
Exactly! Here in Seattle you can make as much as the majority of the Engineers in SV but with a cost of living that is a fraction of that area. Even better if you work a remote job like me and could live in some small town where you can buy a house for 75K.
The very tip-top jobs in certain fields are consolidated in one, maybe a few, areas because that's where the infrastructure and talent pool are.
Stanford is right in SV's backyard. So is Cal Berkeley. Both of these are fantastic schools, and people go to these schools not only because of their excellent programs, but also for the physical proximity to premiere employers and networking opportunities.
With all these brilliant people in close proximity, existing companies want to keep their highest end operations there because that's where the talent is. The talent wants to be where the premiere employers are. New businesses will spring up and hire from these schools and poach experienced talent from existing companies. This process feeds on itself in a virtuous cycle.
Most are aware of it. I've worked in the "Valley" for years and known many who have left the area, for lower compensation packages/salaries.
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