single consider moving to mountain view (new construction, housing, medical)

[cardinal2007]

Originally Posted by lenkatalk

Sounds pretty tough to me.

130k is the pretax yearly base salary, then around 10% bonus, and some stock.
I am working in the tech as well.

I've never worked long term in US before, but a few months of business trip.
I am considering this option now.

So what's the average/median pre-tax salary base do tech workers (5 years experience) get at Mountain View?
(Probably I'll check to see if I could negotiate a reasonable number.)

Unfortunately you're talking base of around 120-140k at that level (more likely the former), I assume you mean people that work in Mountain View, not people that live in Mountain View. A lot of people commute in from elsewhere because of the cost, and yeah, some people earning that much live with roommates in Mt. View.

The thing is that a company like Google will pile on some 20-30k/yr (for 4 yrs) worth of RSUs on top, and then give another grant a year later for 40k of RSUs over 4 years (10k/yr), piling on stock every year.

Some people do live by themselves with that salary, and they can do it, but assuming one wants to save for retirement + downpayment for a condo, it is not a good place to live by yourself at that salary.

[aramax666]

I think 2 years ago, you would be fairly comfortable renting in MV. Things have changed a bit!

[lenkatalk]

Originally Posted by cardinal2007

Unfortunately you're talking base of around 120-140k at that level (more likely the former), I assume you mean people that work in Mountain View, not people that live in Mountain View. A lot of people commute in from elsewhere because of the cost, and yeah, some people earning that much live with roommates in Mt. View.

The thing is that a company like Google will pile on some 20-30k/yr (for 4 yrs) worth of RSUs on top, and then give another grant a year later for 40k of RSUs over 4 years (10k/yr), piling on stock every year.

Some people do live by themselves with that salary, and they can do it, but assuming one wants to save for retirement + downpayment for a condo, it is not a good place to live by yourself at that salary.

yeah, I have the yearly RSU as well, around 10% by average. And some other benefits such as medical, gym, etc.

But overall I get the picture, money is tight, probably 200k pre-tax will be better off, it may take a few years for me to get there.

[lenkatalk]

Originally Posted by aramax666

I think 2 years ago, you would be fairly comfortable renting in MV. Things have changed a bit!

What happened during the last two years?

[aramax666]

explosion in rent and real estate prices. Let me rephrase that .... .EXPLOSION!!!!! (ears still ringing)

[cardinal2007]

Originally Posted by lenkatalk

What happened during the last two years?

In Mountain View:
The last 2 years rents have gone up roughly 25%.
The last 5 years rents have gone up roughly 85%

In 2010 Mountain View was certainly affordable for a single person making 130k pre-tax. There has been a boom in tech and Google is basically more than twice the headcount it was in 2010 in the Mountain View/Sunnyvale area. LinkedIn is probably more than 3 times the size. Tech companies in the area have been hiring a lot of people and so the rents go up, and then people balk at the moving to the area somewhat, so they increase salaries, and the cycle continues until Google and other tech companies don't think they can make that much money from developers. I don't think they are there yet.

[aramax666]

I started in bay area in 2009. My comp was 110K all in. I had a wife to support, and we did ok. Today at that pay we would have REALLY struggled. And there is room for growth. Your pay might increase substantially if you have the right skill set..data science/ computer science / core engineering.

[Bicycle_Dude]

Housing demand keeps going UP in silicon valley. Way too much wealth being generated in tech and all the new industries too (AI, blockchain, crypto, etc). Mountain View real estate is never going down. Silicon Valley is the place to be for people who can afford to live here.

Don't listen to garbage on Fox. Everyone wants to live here if they can. Housing prices have risen more in South Bay / Silicon Valley more than pretty much anywhere else in the country the last 2 years. Palo Alto, Mountain View, Sunnyvale, Los Altos, etc. A ton of the top companies will still require going into the office a couple days a week, and you can't move up career-wise without working in HQ. Weather can't be beat. 65-70 degrees during the daytime in Jan/Feb, no clouds. 100+ different parks and hiking trails within 20 miles. A lot of east coasters who are used to crappy weather and staying indoors 8 months of the year (and obsessed with sq footage) have to mentally adjust to a place with awesome weather, 100+ great outdoor activities so closeby, and 100+ great restaurants without the crappy traffic of a huge city. So many South Bay residents will never move, simply because because it's so great to live here if you can afford it.

[AnythingOutdoors]

Originally Posted by Bicycle_Dude

Housing demand keeps going UP in silicon valley. Way too much wealth being generated in tech and all the new industries too (AI, blockchain, crypto, etc). Mountain View real estate is never going down. Silicon Valley is the place to be for people who can afford to live here.

That's a rather large claim with no supporting evidence. I'm not predicting doom or anything like that, but the fact is, no one knows what the future holds. No one. If mortgage rates jump above 5% and the stock market continues to drag, this will put downward pressure on all real estate. Silicon Valley will not be immune, especially since much of the wealth is on paper.

Originally Posted by Bicycle_Dude

Don't listen to garbage on Fox. Everyone wants to live here if they can. Housing prices have risen more in South Bay / Silicon Valley more than pretty much anywhere else in the country the last 2 years. Palo Alto, Mountain View, Sunnyvale, Los Altos, etc. A ton of the top companies will still require going into the office a couple days a week, and you can't move up career-wise without working in HQ. Weather can't be beat. 65-70 degrees during the daytime in Jan/Feb, no clouds. 100+ different parks and hiking trails within 20 miles. A lot of east coasters who are used to crappy weather and staying indoors 8 months of the year (and obsessed with sq footage) have to mentally adjust to a place with awesome weather, 100+ great outdoor activities so closeby, and 100+ great restaurants without the crappy traffic of a huge city. So many South Bay residents will never move, simply because because it's so great to live here if you can afford it.

Again, not true. Lots of people who can "afford it", as evident by already living there, want out. Up from 46% in 2018 to 56% in 2021. For many people it's not that great, not worth the price of admission. I'm glad you love it, am sincerely happy for you. But your absolute universal statements on this topic are ridiculous.

Many places around the US have experienced rapid price appreciation during the pandemic. My house in Boise has appreciated around 60%. Similar story in North Idaho, Salt Lake City, mountain resort towns, etc. Supper low mortgage rates + handing out lots of free cash + remote work = real estate inflation.

For those that want to live in the Silicon Valley, can afford it, and plan to put down roots for the long term: If you buy a house and plan to stay put for 10+ years you'll probably be fine, even if we have a period of softening prices. However, buying anywhere with the assumption that prices never go down, or everyone wants to live there... this is very risky. Does no one remember 2008-2009 when speculators were making the same bad assumptions, and a bunch of people got stuck holding the bag? SMH

[gone down south]

Yes, the lady who asked that question 7 years ago is really interested in your followup today.