Google policy still has weird traps. We are not returning to the office indefinitely, but we can be called into the office at 30 days notice. Also, those of us who left for LCOL under "temporary" remote work arrangements have to apply for a hardship exception and the company emails us continuously reminding that there may be pay cuts. So now that they cant call people back into the office with other sticks, they've decided to die on the compensation hill and assume that people care enough about a 5% comp bump to return to shithole Bay Area (it's 15% bump from national to Bay Area but 10% of it goes to CA taxes anyways and most who left chose low or zero state income tax places).
So there is still a final nail required in the coffin for Bay Area real estate - and that's the ability for most above average ICs to make greater than or equal to Bay Area comp in LCOL. For now not many people care since they still come out ahead accounting for taxes, housing, childcare costs.
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So now that they cant call people back into the office with other sticks, they've decided to die on the compensation hill and assume that people care enough about a 5% comp bump to return to shithole Bay Area (it's 15% bump from national to Bay Area but 10% of it goes to CA taxes anyways and most who left chose low or zero state income tax places).
So there is still a final nail required in the coffin for Bay Area real estate - and that's the ability for most above average ICs to make greater than or equal to Bay Area comp in LCOL. For now not many people care since they still come out ahead accounting for taxes, housing, childcare costs.
And no I’m not hoping to buy a house in BA for cheap. Left last year and no regrets. BA is way way overhyped. High paying jobs is what keeps most here