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Old 11-04-2011, 07:15 AM
 
3 posts, read 4,062 times
Reputation: 10

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Hi all,

I have two offers across the country from each other. One is in NC where I'll be making around the median [1] there, which is pretty good because my years experience is a bit lower.

I have an offer in SF that's about 10k higher than the median. But overall, if you take cost of living into account, it seems to be a pretty big pay cut. I've heard between a 70-80% higher cost of living there, but I'll only make 42% more in base salary. I haven't even taken into account taxes and other expenses I don't know about.

I'm in a predicament, because the SF job sounds like it'll make me more happy. But I also think I'll really enjoy the NC job. Financially, it looks like working in NC will leave me with more discretionary income.

How will my quality of living be making ~100k in SF? What other perks are there in moving to that area (other than the large availability of jobs in my field)? For those that have been in similar situations (making less to move to SF), what did you do and do you regret it? For the software engineers out there, what's it like working for a startup in the Bay Area?

Thanks in advance for your comments. This is a huge decision and I could as much advice as I can get.

[1] Software Engineer Salary | Glassdoor

[2] Software Engineer Salary in San Francisco | Glassdoor
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Old 11-04-2011, 10:08 AM
 
Location: SF Bay Area
165 posts, read 483,215 times
Reputation: 108
I don't live in SF or NC, but I had a similar issue a month ago. I've lived in Atlanta most of my life, but was deciding between a SF job and a local one.

I only selected the local job because it was a better financial decision at the time. I wasn't in debt or anything, but I didn't have the right amount of money in savings to feel comfortable making the move quite yet. Especially when i'm also trying to fund a startup i'm working on.

My career path is definitely pointing toward moving to SF in the coming months so the move will be made. I think it depends on your goals ultimately.

I am very much an entrepreneurial minded person, and a typical 9-5 work day, working for the man is temporary at most in my mind. The talent pool and energy and frankly the desire of wanting to live somewhere else is what will push me to make the move soon. I'm single, no kids, and no major obligations (except a cheap condo in Atlanta) so nothing would hold me back. It will especially make the move easier since my g/f is totally down with relocating.

What you're "losing" financially by moving is possibly offset with other things such as career opportunity and as you mentioned a better work environment. That's something I had to realize especially since my current condo which is in a nice part of town is only $590/mo +$115/mo HOA compared with a studio okay apartment in SF can run in the $2,500/mo range.
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Old 11-04-2011, 12:30 PM
 
12,823 posts, read 24,320,281 times
Reputation: 11039
SW dev is actually doing OK here - especially with all the dumb money following the hype into multiple vaporware Bubble2.0 start ups. Lots to plunder. But bear in mind, it is a bubble for sure.
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Old 11-04-2011, 12:37 PM
 
1,027 posts, read 1,941,695 times
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NC, NC, NC!! I will not be even applying for software jobs in the Bay. To live here is a waste of hard earned money.
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Old 11-04-2011, 06:39 PM
 
13,711 posts, read 9,189,504 times
Reputation: 9840
It depends on where you are in your career path and what your ultimate goal is. For a fresh grad or someone relatively new to the field, grab the highest salary possible and forget the rest. Many studies have shown that graduates who started out on a lower scale have a very hard time catching up to someone who started on a higher salary, even adjusted for the cost of living. We're talking about hundred of thousands over a lifetime of lost wages. Your salary has ramification on your rest of your career, assuming you don't change field and you don't obtain a higher degree, so don't take it lightly.

I made that mistake. Took $20k less to stay in Sacramento, figured I'd come out ahead on cost of living. Big, dumb, stupid move. I unknowningly diminished my negotiating power for all my subsequent jobs. Even with the higher cost of living, I'd have been better off taking the higher salary in a high cost area. Think two, three, four jobs down the line; each of them build upon the salary prior; you can do the math on that one.

Now, if you have kids then it's different. Kids come first, so the salary is secondary to providing a good environment for them.

Things to keep in mind:

1. It's easier to move from SF to NC than vice versa.
2. For an IT professional, it's easier to network and exchange ideas with other professionals in SF.
3. If you want to be an entrepreneur, plenty of VCs here; or if you're a risk taker, plenty of start-ups you can latch on to.
4. Plenty of opportunity for side projects (see reasons above), many IT pros that I know have side businesses.
5. Silicon Valley is where the action is, SF is not in the Silicon Valley, but it's close enough.
6. We may or may not have a tech bubble. But if there is and it burst, it'll affect NC just as much as it does SF.
7. SF is expensive but $100k still goes a long way here (assuming you're single). Most singles in SF don't make $100k (again, assuming you're single) and they live well and could afford plenty of entertainment/vices.

Good luck in whichever decision you come to.
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Old 11-04-2011, 10:58 PM
 
Location: Oakland, CA
28,226 posts, read 36,750,520 times
Reputation: 28561
Quote:
Originally Posted by beb0p View Post
I made that mistake. Took $20k less to stay in Sacramento, figured I'd come out ahead on cost of living. Big, dumb, stupid move. I unknowningly diminished my negotiating power for all my subsequent jobs. Even with the higher cost of living, I'd have been better off taking the higher salary in a high cost area. Think two, three, four jobs down the line; each of them build upon the salary prior; you can do the math on that one.
Me too. Completely dissed on the income front when compared to my peers. After about 10 years, I am finally close to catching up.. But other people I know had the salary I have now 3-5 years ago (with very similar levels of achievement).
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Old 11-04-2011, 11:28 PM
 
1,027 posts, read 1,941,695 times
Reputation: 551
Don't forget that the company culture in Bay area tends to be way too stressful and it's the big rate race place... no money can compensate for this, indeed.
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Old 11-04-2011, 11:45 PM
 
Location: SW King County, WA
6,404 posts, read 8,241,347 times
Reputation: 6575
I'm from North Carolina and it would take a lot of money for me to even consider moving back there. If you only care about advancing your career, I'd still say the Bay Area will make you more marketable in the long run, but right now I think the job market is much better in the SE. NC, especially RDU/RTP has a lot of jobs, but it's a pretty crappy place to live. If you don't have much of an active social life, or you don't really think you'll have the opportunities to live the Bay Area lifestyle to the fullest, you might not really care and be happy in NC.

But NC is full of rednecks, bible thumpers, and racists. Trust me...
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Old 11-05-2011, 02:31 AM
 
Location: Oakland, CA
28,226 posts, read 36,750,520 times
Reputation: 28561
Go to NC if you have a family and kids. Otherwise, head for the Bay Area.
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Old 11-05-2011, 04:26 AM
 
4,307 posts, read 6,242,937 times
Reputation: 6102
Quote:
Originally Posted by alexxiz View Post
Don't forget that the company culture in Bay area tends to be way too stressful and it's the big rate race place... no money can compensate for this, indeed.
Many of the tech companies in the Bay also have offices in the RTP area...company culture is not that varied....we're all overstressed/overworked regardless of where you go.
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