Dear employers: it's expensive to live in the bay area. I think for many people, you can credibly claim sf is as or more expensive than manhattan (particularly once you nearly require a car per couple in order to live an adult life, go grocery shopping, travel to tahoe, go places on weekends, get to the gym in under 50 minutes each way, etc.)

Options are fine and all, but they pay neither rent to landlords nor mortgages to bankers.

If you don't keep your employees well paid, there will be people whispering in their ears offering another $10 or $20k.