Make sense to move to SV financially?
I’m 30.5 years old with a saving of 100k. 5 yoe. Recently got a work from home offer (8 hours / day) with 150k in TC. I’m living in a low cost city with an annual expense of 26k. So after tax (114k, using a corporation to lower tax) and expenses, I’ll be able to save around 88k per year. I have been also contacting hrs from Apple, Google, FB and Amazon. I’m LeetCoding now and hope to interview with them later this year. My target TC is 300k and would probably not accept any offer lower than this. Assuming the positions are all at Silicon Valley, would it financially make sense to move to SV? Thanks!
If you care about building your credibility in the long run, then yes.
Assuming you’re single and don’t need a big house/daycare all that jazz, rent+living expense will go up by 2-3k a month atm, or 40-50k per year after tax. So your breakeven point is just 200K. Beyond that TC its all profit, your saving are going to grow much faster in SV. It’s the best fuckin place on the whole planet for $$$. And as others said if you can land FANG, its a resume boost. Downsides would be potential long commute, bad traffic, sausage fest demographics, tech monoculture etc
Hahahahaha omg yes. If you get an offer it'll probably be better than a new grad offer :)
There's actually a trend of people leaving SV and there are projections that rent might flatten a little more in 2020. After some time, SF and SV just lose their luster IMO. Also, the entire tech scene to me was self glorifying and boring. Choose comfort and lower your stress. Rent in the bay area is above $3k for 20 year old apartments. Houses are minimum $1.5M. Traffic is at standstills and I saw this change just in the last 6 years. My company is actually very overcrowded too. If you want to come over here and see it for yourself, you're welcome to. I'm actually thinking of heading out.
As you might know, SV is overpriced for what you get. But it’s also home to FAANG which give unparalleled boost to your resume if you work at one of these for a few years. IMO worth the experiment - you can always go back to where you are (though you’ll likely miss the obscene wages)