Why is everyone so wrapped up with TC on this app?
Dec 18, 2018
82 Comments
TC comes up in nearly every post on the app, it’s simply ridiculous to be that wrapped up in it. What ever happened to simply being happy with your job, co-workers and your career choice.
I’ve never left a job for TC reasons, it’s always been day to day work, managers, or just general not aligned with company Vision. Even so, the money in our industry is always there, so I don’t understand how this comes up in every post.
comments
That's why people are talking about TC, and why people making 200k+ feel poor (no housing security, can't afford to have kids).
$400 gets you a 4br house on a lot up to an acre with about $3500 sq ft...property tax of about 3k
^The waitresses/drivers/service staff I talk to either have 3 unrelated adults living in a single room, two jobs, a 90+ minute commute, a spouse with a much better job, or a combination of those.
People who have bought houses six years ago or more are fine (especially if they're in tech), it's the millennials who are getting fucked hard here. Had a insensitive clod of a colleague likely making twice my salary paying 2k in mortgage in Cupertino (and bragging about it obviously) and wondering why all the millennials look stressed out.
It's exactly why all the millennials are constantly on leetcode, have zero loyalty to their employers, will jump between employers for 50k/yr in TC, and are all discussing how they can get into FANGs, because frankly, it's the only way any of us can expect to maybe be able to raise a family here. And don't get me started on the dating scene here.
As they say for careers in the Bay area, up or out, and for more and more people, it's looking like out is the only way to go.
I can’t image what could be so great in that area, to force someone to stay and deal with that kind of salary pressure, but suppose if you can tolerate it for a few years and are frugal you could be set for life...
Well, except as you point out the cost of living where those salaries are such keeps you from saving as much as you could.
Sounds like it sucks out there the way you describe it, but I suppose it’d be fighting for jobs with less pay and lower cost of living elsewhere
The way I figure it the goal is to maximize TC-expenses. Say I'm running on 60k expenses in "somewhere else" I have 40k/year extra. That means if I can live on less than 260k in the Bay Area then I'm ahead long term, although with a perhaps higher risk due to the different cost/expense ratio.
This gets a bit more complicated when you add in a spouse unless they are also in a field that is high TC in the Bay Area.
How do you think the #metoo movement gained any traction? It sure as hell wasn't from anonymous forums. It started with a single woman speaking out publicly, then another joined in, and another.
I don't expect salary to ever become an openly discussed topic, nor do i care for it to. It won't benefit your life to know exactly how much your peers sitting next to you are making. It will likely only depress you when you find out that someone working less than you is making more, even though you thought you were a better performer than them.
It's best to have these discussions as anonymously as possible.
Money don't grow on trees
I got bills to pay, I got mouths to feed
There ain't nothing in this world for free
Oh no, I can't slow down, I can't hold back
Though you know, I wish I could
Oh no there ain't no rest for the wicked
Until we close our eyes for good
How much money does one need to be satisfied/happy?
According to psychology researchers, that satiation point is about $95k for individuals in the US (so about $150k in SF). After that base threshold is met, there is actually diminishing returns in life satisfaction for each additional dollar earned.
https://www.weforum.org/agenda/2018/03/how-much-money-do-people-need-to-be-happy
Saving just 800k seems low? Though pension is amazing!