Tech Jobs Over 200K (top school, area, county)

[80skeys]

Originally Posted by CBB_bear

it seems to me that most of the people I know who are under 35 and were able to buy a house in the bay area are largely able to through selling off some of their stock options

Not really, it's mostly due to your, or your+partner, income qualifying you for a big mortgage. Selling stock options for most people gives an extra $20k or $30k which doesn't make a big difference as far as buying a house goes.

Originally Posted by aramax666

but when pretty much every engineer you know who works at Google/Facebook/Apple is buying houses and expensive cars, Its safe to say that they are compensated well.

They're compensated as far as being able to qualify for loans, but whether or not they actually should be taking out big loans is a different matter. How much are they putting down for these purchases? It's pretty easy to save up $100k or $150k over a few years as a single person on an engineer's salary, but when a house costs $700k is it a good idea to take on $550k in loan?

Originally Posted by aramax666

A decent comp from a big company for 5-10 years of experience could easily include 100-200K of Restricted Stock over 4 years.

So basically, if you were to convert this to salary, instead of earning salary X you're earning salary X+$25k. Ok, reasonable, but not making anybody rich and most importantly still not making it easy to live the luxurious lifestyle with Teslas and buying houses.

[aramax666]

I put together my entire downpayment by selling company stock over the period of 2 years.

1. Its X+ 60K as shown in my example. Since the stock refreshes ( could refresh ) every year.
2. Is 550K of debt a good idea? Depends on one's income, one's outlook on housing and your your earnings potential. It is risky on a single income, for sure.
3. I agree that most people take on large mortgages.

Personal disclaimer: I consider myself over-leveraged in having bought a house. What people choose to do is a function of their risk-appetite. One will either be punished for their risk-taking, or be rewarded, time will tell.

[tekka-maki]

Originally Posted by CBB_bear

I find it interesting that so many people are anti stock options on this thread. While stock options at a startup are a gamble, it seems to me that most of the people I know who are under 35 and were able to buy a house in the bay area are largely able to through selling off some of their stock options from working at apple/google/facebook/whatever stable large company to come up with the downpayment (that and being dual income). Feel free to correct me, as I don't work in tech.

Race to the bottom.

Originally Posted by aramax666

You are absolutely right. I know a lot of young guys, not even in their 30s who bought houses in the last 2-3 years. I know a guy whose 28, bought a house AND a tesla 85D. Of course, anecdotal evidence is not statistics, but when pretty much every engineer you know who works at Google/Facebook/Apple is buying houses and expensive cars, Its safe to say that they are compensated well.

Can't be! The base sw engineer salary here is '106', and as we know, that's won't go far in the expensive bay area. Except... Apple pays even the intern up to 80k (Apple interns can make almost $80,000 a year, report says), FB and LNKD 75k + in many cases free apartment living.

Originally Posted by aramax666

A decent comp from a big company for 5-10 years of experience could easily include 100-200K of Restricted Stock over 4 years.
This is "essential" part of the comp , as , for me, personally, without it, I would really struggle to keep up with my mortgage and bills.

RSU payouts every year could be 30-50% of overall comp.

Yep. Easily more even. A certain big bay area name just fleeced someone from my partner's company; offered him same base + 400k vest in 3 years.

Originally Posted by CBB_bear

I honestly don't know the details, but you are right, they probably had restricted stock, not stock options. Just something related to stock as part of their compensation that allowed them to save up for a downpayment. Late 20s/early 30s in tech, with relatively lucrative jobs (software engineers and such), most of whom spent at least some time in larger companies (google or apple).

Maybe combination. Many stock options at biggest names exercising since at least 2010 in bull market. Usually icing on the cake of RSU. Many here talk this practice down as though it's an 'either or' or options never worth squat while using outlier examples (e.g. startups) which don't reflect the sw engineer herd.

Originally Posted by aramax666

I put together my entire downpayment by selling company stock over the period of 2 years.

1. Its X+ 60K as shown in my example. Since the stock refreshes ( could refresh ) every year.
2. Is 550K of debt a good idea? Depends on one's income, one's outlook on housing and your your earnings potential. It is risky on a single income, for sure.
3. I agree that most people take on large mortgages.

Personal disclaimer: I consider myself over-leveraged in having bought a house. What people choose to do is a function of their risk-appetite. One will either be punished for their risk-taking, or be rewarded, time will tell.

Rewarded. Even as housing has slowed down dramatically since 2012/13 bump around the country, you wouldn't tell by looking at SF Bay: demand still through the roof and supply low. Congratulations btw on your home.

[80skeys]

Originally Posted by tekka-maki

Yep. Easily more even. A certain big bay area name just fleeced someone from my partner's company; offered him same base + 400k vest in 3 years.

This guys' job title is what?

Rewarded. Even as housing has slowed down dramatically since 2012/13 bump around the country, you wouldn't tell by looking at SF Bay: demand still through the roof and supply low. Congratulations btw on your home.

Housing markets/financial markets are unpredictable.

[opossum_]

Why do people mention Teslas? Kind of like proud tribesmen displaying Campbell soup can earrings.

[aramax666]

Originally Posted by opossum_

Why do people mention Teslas? Kind of like proud tribesmen displaying Campbell soup can earrings.

Let me explain why I mention Tesla. It is at the forefront of technology. It is a gorgeous car, IMO, one of the nicest I have seen on the road. It is very advanced in terms of UI and its a truly connected car. Now If you love cars, chance are you going to want it. This one is particular is over 100K, so not everyone can buy it.

A 20 something year old, who I happen to know, having bought one, is a pretty solid sign of success. He is a smart young engineer.

I mention it as a sign of money young engineers make these days. Life it too short. If people want nice things like campbell soup earrings. , power to them.

[opossum_]

Too bad they can't afford Lamborgini unlike Wall Street banksters! Are they compensating for short statue or something?
This reminded of an old joke:
A businessman says to his friend "I bought my car for 600K". His friend condescendingly looks at him and says: "Well...guess what, I got the same one for 800K"

[aramax666]

thats funny...it really is.

I personally don't begrudge people having nice things. I understand some people think its a sign of vanity or compensation for some troubling flaw of character. Life is rarely that one-dimensional. Nice things, well-built things, exquisitely crafted things, even if mass-produced, are beautiful. They have beauty in form and in function. it is a joy to own and experience these things.

there is perhaps a thin line between obscene wealth and the ostentations of success. I think we can all make our own judgments on how close to that line we want to live.

None of this precludes living an otherwise fulfilling life.

[opossum_]

Yep, the shining of intellect, spirituality, morality and what's not on the part of the 1% wannabes. When the economy tanks (eventually, it will), hope the mobs won't burn them in their teslas, right inside that little "Bay area" bubble.

[aramax666]

This has nothing to do with morality. These are hard working people who dedicated their lives to education.

A touch dramatic, aren't we? What mobs?

Technically most of them are in the 1% already. Most successful dual income families in the bay area are well in the 1% already. So they are not wannabes. They are it.

Anyways.. Like I said, its easy to make the aforementioned number.