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Old 09-19-2011, 12:29 AM
 
2 posts, read 5,681 times
Reputation: 10

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I live in an inexpensive midwestern town.

I am a single man in my early 30's.

I recently was offered a job in San Jose with the following situation:

1.- My base pay would be about 70K.

2.- I would get a free company car, with free gas, insurance, service,
registration, emissions testing, etc.

3.- I'd probably get about 5K in bonuses annually.

4.- It's an outside insurance job, so I'm very tempted to experience a job
where each day I drive around one of most fairweather cities in America.

So there you have it. 75k with a car and all associated expenses paid for,
no wife or kids to pay for, just myself.

Can someone with that financial profile, enjoy their life in San Jose?

Barely? Reasonably? With ease?
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Old 09-19-2011, 12:38 AM
 
954 posts, read 1,181,572 times
Reputation: 384
With ease.

Obviously you won't be able to live in a residence as nice as you would be able to afford in the midwest with that salary. 1100 a month will get you a modest but nice 1 bedroom apartment in a modest but nice part of the city.
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Old 09-19-2011, 03:45 AM
 
Location: San Jose, CA
7,688 posts, read 26,896,155 times
Reputation: 3597
Very easy if it's just you. I make a similar income and rent a great apartment in Blossom Valley where I live with my partner, and we're able to put away money every month.
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Old 09-19-2011, 01:42 PM
 
Location: Sunnyvale, CA
6,292 posts, read 10,348,869 times
Reputation: 3324
Quote:
Originally Posted by Well-Traveled-Fellow View Post
I live in an inexpensive midwestern town.

I am a single man in my early 30's.

I recently was offered a job in San Jose with the following situation:

1.- My base pay would be about 70K.

2.- I would get a free company car, with free gas, insurance, service,
registration, emissions testing, etc.

3.- I'd probably get about 5K in bonuses annually.

4.- It's an outside insurance job, so I'm very tempted to experience a job
where each day I drive around one of most fairweather cities in America.

So there you have it. 75k with a car and all associated expenses paid for,
no wife or kids to pay for, just myself.

Can someone with that financial profile, enjoy their life in San Jose?

Barely? Reasonably? With ease?
I think it's good enough to enjoy things reasonably. The biggest expense here is your housing/rent. So if you're looking to rent, you can expect around $1500/month for a one bedroom apartment. The rest of your expenses will be fairly comparable with what you are used to in the Midwest, so just make your calculations.
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Old 09-19-2011, 05:13 PM
 
Location: South Korea
5,242 posts, read 12,013,007 times
Reputation: 2952
Yes you'll be fine especially because your car will be taken care of. (lucky!) You'll be living in an apartment but you'll be very comfortable as long as you aren't expecting to live in a mansion or a big house. I'd say 45-60k would be comfortable even with the expense of owning a car, but on 75k and a paid-for car I think you'll be ok. Depends on your standards though.
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Old 09-20-2011, 12:30 AM
 
28,753 posts, read 31,423,242 times
Reputation: 29891
I'd echo what everyone else has said. I'm also assuming you have no debts or other big expenses. Also, you'll need to be aware that 75K is not ever going to get you home ownership here (at least not a home you'd want to live in). It may get you a condo if you're a really good saver and you get a roommate the 1st few years to help with the mortgage.
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Old 09-20-2011, 06:07 PM
 
158 posts, read 325,764 times
Reputation: 104
You sound much like I was when I moved here. I was a single man then, and I still am (for now-eek!).

My stats at age 22: 56k (before tax/deductions), maybe 3k in bonus, owned a car. I was able to live comfortably in a safe, clean single apartment in Sunnyvale ($900/month).

By age 26: 75k, ~3k bonus, own a car, rent went up to $1200/month.

And nowadays, age 28: 85k, ~3k bonus, own a car, mortgage of 3k/month.

When I rented, I could blow money on all kinds of stuff (music, movies, beer). Since I bought a house, I am now "house poor". Keep in mind I bought what is considered about as cheap a house you can buy in San Jose without becoming really scary or unlivable (paid $400k FHA mortgage for a single family).

So you're golden if you rent. Especially as a single man. I don't know anyone whose company pays for their car. That's a fantastic perk. Maybe back in 1999 you'd hear stories of dot-com boom companies that would buy college grads BMWs and whatnot, but those days are over. So yeah, you're sitting pretty. I'd say "with ease" to answer your question. And "reasonably" if you end up wanting to buy a house, because housing is crazy expensive here. By the way I also grew up in the midwest.

You'll be just fine if you move here.
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Old 09-20-2011, 10:03 PM
 
34 posts, read 135,084 times
Reputation: 24
I'd say you will have no problem if you don't have anyone else to support other than yourself on that salary. I moved to Silicon Valley 5 years ago when I graduated college. My job paid me $66k at the time. I rented a modest 1 bed apartment for $1250. I was able to go out and enjoy myself and do all the things I wanted to do and still save about $1k or so each month.
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Old 09-21-2011, 11:22 PM
 
863 posts, read 1,608,070 times
Reputation: 524
I think you'd be okay to live safely and modestly if you're not supporting anyone else.
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