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PM Manager, early 40s, married and ENM (Ethical Non Monogamous) AMA
Just like almost everyone here, layoffs are occupying mind space for me; and I’m trying to plan for next steps in case the worst happens. If my yearly expenses are about 150k - in a VHCOL area - what is the minimum realistic salary range pre-tax I should look at for a new job - after deducting taxes, health insurance, minimum 401k to account for company match etc. In an ideal world I would find something that pays as much as I make now or more, but in this market that’s probably not realistic. Current TC: ~400k
For people voting 100-150k, or 150-200k - I don’t see How that would work. Am I missing something?
People making 100-150 in a hcol area are fresh grads. I doubt you're a fresh grad making 400k and spending 12k/month. Presumably you're a Sr eng with a family and many years of experience. I'd focus on companies that want someone in office in your area, since they'll have to pay enough to afford the local cost of living. For senior roles they have to be able to afford people who have families. It's the cost of doing business, don't let them get away with not paying the cost. At some point you'll be between jobs again too and a layoff shouldn't require a second mortgage. This is a career that requires savings. Of course if all you can find is remote jobs or startups, maybe you're asking yourself "what's the minimum amount I can make a VC pay for my salary while a build my own company," but thats a different question.
They’re trolling cause you can just do this math instead of asking blind to do the math lol. And clearly 100-150k should not have even been an option.
Do you have a family and kids? How do you spend 12.5k a month
Kids. Single mother. My mortgage plus taxes is 4k a month.
Question isn't clear. Minimum to cover expenses or minimum to have a sensible financial situation? Do you really mean minimum salary or minimum TC? Presumably somewhere in the range of 250-300 will cover your expenses of 150 after tax etc, and that's probably the salary typically on offer. For long term savings and upside in life, to not just be covering expenses and have something to hope for, you'll need bonuses or equity of some sort. Some companies offer very little for bonuses and equity. Some offer a lot. I'd make that the focus. I think anyone can pay 250-300 salary nowadays but some pay nothing beyond that and some pay well.
Minimum to cover expenses. I can always look for better paying jobs but trying to figure out what’s the worst I should consider.
Don't sell yourself short. That's why the market sucks, everyone taking the bait and accepting the bare minimum they need to survive in the short term. A race to the bottom.