80k a good salary? (San Francisco, Nice: rent, credit card, home)

[gabiro]

Hi all,

I might get a promotion and move from 60k to 80k a year.
I am single and work in San Francisco, I am new to San Francisco the States so I ask the followings:

1) is 80k a good salary? The raise seems good but I don't want that now I pay more taxes
2) with 80k can I found a studio in the city?

[Ruth4Truth]

2) Yes. But don't be surprised if the price goes up and up. Don't expect stable rent prices. You may end up moving to the East Bay, eventually.

1) for one person, it's decent, for the Bay Area. It sounds like they hired you at a cheap rate because you're a foreigner (?), and now are starting to adjust your pay. What's your field? It might not be a good salary, compared to your native-born peers; we can't say until you tell us more.

[Bisaro TMF]

80K for a single person is more than Decent. If you want your money to go further move to the eastbay. I"m assuming after taxes your take home pay is around 5000 per month. You can do just about anything you want with that money since you have no kids etc.

[jade408]

Originally Posted by Bisaro TMF

80K for a single person is more than Decent. If you want your money to go further move to the eastbay. I"m assuming after taxes your take home pay is around 5000 per month. You can do just about anything you want with that money since you have no kids etc.

Nope, take home isn't 5K. It is closer to $4200-$4500/ month.

[Ruth4Truth]

Originally Posted by jade408

Nope, take home isn't 5K. It is closer to $4200-$4500/ month.

Right. So if OP spends around $2200 on rent in SF, he'll have enough to get by, if he has a car. If no car, he'll have some money to put into savings. If he finds cheaper housing, he'd be able to afford a car, and still save a little, as long as he wouldn't have to pay for parking.

I think the question is, is he being paid a fair amount for the industry he's in. That's my concern for him.

[usamathman]

It is an above average salary in San Francisco.

I just took a look on craigslist and saw several decent studios in the $1500 range. (around 30% of your income)

You should definitely be able to afford one of those and still have money to put away.

Just make sure you avoid car payments, credit card debt, and try not to go overboard on your housing and you should be fine.

[justmeinca]

A $hit hole in the city is at least $2500/month

$100k/year is the (not so) old $60k in the SF Bay Area

If you have to live in the city, find a room in a VERY Nice neighborhood

Best of luck to your search

[ambient]

$80K is above average in the city? In white collar circles..i.e., those who can afford decent living accommodations in the Bay area...seems low to me. I know senior analysts in their late 20s making 6 figures.

[Ruth4Truth]

Originally Posted by ambient

$80K is above average in the city? In white collar circles..i.e., those who can afford decent living accommodations in the Bay area...seems low to me. I know senior analysts in their late 20s making 6 figures.

For San Francisco it's a little low for meeting expenses, but doable. We don't know how old the OP is, their education and experience, or their industry, so we can't say if it's fair pay for whatever stage they're at in whatever industry.

[bigdumbgod]

Originally Posted by justmeinca

A $hit hole in the city is at least $2500/month

$100k/year is the (not so) old $60k in the SF Bay Area

If you have to live in the city, find a room in a VERY Nice neighborhood

Best of luck to your search

One does not have to find a room in a VERY nice neighborhood in SF to enjoy living there. In fact, same goes for any municipality. There are, in fact, people who live in "the City" who don't make six figures, who often have more fun there than people who do. Maybe because they do more than work, sleep, and worry.