Posted on 06/28/2019 10:12:06 AM PDT by rktman
Surprise, surprise: people who work in tech are rich. But ever since a new law came into effect last year that requires publicly traded companies to report the median pay of their employees, we know exactly how rich.
Silicon Valley led the pack. As reported to the SEC, Google employees are the most made of money: their median annual pay in 2018 was $246,804. That's an increase of nearly $50,000 from what Google employees made in 2017.
Facebook came in second place, with a median pay of $228,651 in 2018. However, this number fell by nearly $12,000 from 2017. A spokesperson told WIRED there was "no specific reason" for the decline, although Facebook suffered multiple crises last year, including a massive data breach that caused its stock prices to plummet.
Meanwhile, it's not too rough to work at Twitter, Square, Workday, or Nvidia, either, where employees all made on average over $150,000 in 2018. That's more than enough to afford rent for the average San Francisco "modest two-bedroom" according to the National Low Income Housing Coalition's "Out of Reach" report (they reported you'd have to make at least a cool $127,000).
(Excerpt) Read more at sfgate.com ...
thanks for the reminder
I better tank up before then.
No wonder so high
Since taxes take 50%+
I'd rather make $104,000 here than $140,000 in the communist Bay area. No thanks.
I’d rather make $104,000 here than $140,000 in the communist Bay area. No thanks.
I used to live in Vallejo and still have relatives in Napa. I figured I’d need at least a 50% raise in pay at the time just to keep my COL flat. Now it would be 300% (I live in KY).
I’d rather make a $104,000 than what I bring in now. But yeah, I can feel the evil waves being given off from the bay area since we’re about 12 miles from the border(NV/ca not metheekO). Some folks can overcome that but not many. :-)
I’d rather make a $104,000 than what I bring in now. But yeah, I can feel the evil waves being given off from the bay area since we’re about 12 miles from the border(NV/ca not metheekO). Some folks can overcome that but not many. :-)
“Google employees are the most made of money: their median annual pay in 2018 was $246,804.”
Buying a typical 2000 square foot house in Mountain View, where Google is located, will saddle you with a mortgage of $175,000/year, more or less. I imagine those median Google employees are mostly living in tiny apartments and forgoing families. A gazillionaire might expect a bit more. You could have a much better quality of life elsewhere for a ton less pay.
I remember one guy who came to our small midwest city from the Bay area in the 90’s saying that even after his salary was adjusted down, he could afford to buy almost any house in town. He ended up in a restored Victorian that made his wife very happy and made his weekends no-existent.
It’s Silicon Valley/San Francisco. To account for the difference in tax rates and cost of living, take those figures and divide by 2. That is a much more reasonable comparison of their standard of living vs most of the rest of the country. Still good, but nowhere near as much as it sounds like.
I read someplace that some live in their cars. But, “Yeah, I work at goggle.”
You are absolutely right. I lived in San Carlos, CA very briefly and it opened my eyes as to why I should never live in the Bay Area, ever. The high salaries are a charade; the overall quality of life is poor. The only things I miss are the coastline and the cool stable weather. I would visit in a heartbeat, but live there - never.
No wonder they think they are The Elite who must shape the nation.
Correct, but half of a quarter mill is still six figures.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.