How much would I need to make in Bay Area to make it worth moving from Seattle (TC 205K)
I have been getting called by companies in the Bay area and interviewed with a couple. They may offer me a better position and maybe a more interesting project. Still, live is so expensive in the Bay Area so I wonder how much should I get to make it worth the hassle.
Assuming that the perks of the Bay area have little to no value to me, and I am quite comfortable in Seattle. I own a small place that is worth about 750K. I have a wife and no kids or pets. I would like to have at least a kid soon and get a bigger place in the not so distant future.
My wild guess is 360K. I roughly took what I make, added 10% for extra income tax. Then I took what it could cost me to rent a similar place minus what I would get from renting the one I have (after taxes). Multiplied the subtotal by 1.15 to compensate for higher cost of everything outside housing. Finally I multiplied that by 1.25 because I think that I should make at least 25% more to make it worth it.
Is this right? Would such a huge increase just get me 25% more in practice.
If you have moved to Bay Area from Seattle , what kind of money made you move?
Whether they will give me such an offer is a different question, but I need to be prepared for when/if the offers come.