350 karma · joined May 5, 2016
I completely agree that there is way more to life than economics, but for the young single engineer the business case for Bay Area (and even more Seattle) is very compelling.
To put it in perspective, when I compare myself to a friend with similar skills my net worth is already 2x greater.
Let me level set by saying I went to a bootcamp and have two years experience. I make 165K (25% higher than 130) and my 3 close bootcamp colleagues all make around the same. I don’t work for some hot company like Google - 95% of people reading this haven’t heard of us. And just to be clear this is all liquid compensation (cash, bonus, and public stock equity).
So yes for me and my closest friends with comparable experience SF is by far the best option economically.
Note as others have mentioned; I don’t think that will be the case when I start a family.
The other issue is I don’t buy the 110k vs 130k difference in Austin. They are not considering total comp in which case the delta is way bigger.
Finally, Hired is mostly used by startups and low to medium paying employers. There is a huger salary difference at large tech firms between SF and other cities.
What this study is really saying is “if you want to work at medium size companies, don’t earn anything beyond a salary, and spend all of your salary San Francisco is not worth it”.
As such, it makes sense that people pour millions of dollars to target the 1%. They've got a shitload of more money than the rest of the country. Seriously, if you've got an product that every rich person wants but that no other person cares about, you will have vcs knocking on your door. We need to think of vcs as building cash machines, not as the money behind "changing the world". Yes occasionally vcs fund companies like Google that have broader impact but that's not their primary aim.
If we want more people building ventures that impact society we need to either * change the funding model * build bootstrap ventures * build non profit ventures * ask the government to step in (a socialist approach)
A good example are institutions like the Gates foundation and WHO eradicating polio in the last few years. Yeah it's not sexy but organizations like that are making real societal impact.
If they figure it out, they will own their markets because frankly their products are better since they were user first.
I think it's important part of building a company - recognizing that the heart and soul that led you to say $100M sales can completely differnent from what leads you to $1B. It's almost like a mini innovators dilemma for startups.
I can't believe we let some of best doctors in the country waste hours each day fighting with terrible software instead of treating patients. My partner spends more time trying to figure out the EHR than she does treating patients.
Which hospital / medical systems give great perks to doctors ?
My trajectory has been pretty solid - we had several people join when I started and I've been at the top of my cohort. I've been promoted and given a raise while my company went through layoffs and perform well even compared to the CS grads from Stanford & Berkeley who joined at the same time.
I expect to be promoted to the senior title in 1-2 years, but I will probably job hop somewhere else in the next year so I can get exposed to tougher cs areas (distributed systems, scaling, information retrieval, etc)
My close friends at the bootcamp work at companies like Pivotal Labs, Pinterest, Yammer, etc. it's definitely a biased sample but I've seen many people do well. Many fail as well, but that's expected.
I don't know if it would have been cheaper to recruit them but I do know they had no chance here in America. They have hustled their way to a living but have worked 10x harder than me because I have an American citizenship and degree.
It's kinda like everyone cheering for Uber and Lyft because medallion rules in SF prevented ever having enough cabs.
There's no real reason and that's the problem.
Also maybe they had those kids in the 1990s when things were a bit more affordable ? The Bay Area wasn't always the most expensive place in the US
It's very hard to get people to diagnose the problem online but maybe if you give more details we can help you out. Otherwise reach out to a trusted colleague.