Employees at Airbnb, Square and Stripe Are Spending 50%+ of Income on SF Rent

Re:Employees at Airbnb, Square and Stripe Are Spending 50%+ ... by whalesalad on Wednesday September 30, 2015 @05:02PM (#10307149)

This is not surprising at all. We keep complaining about it here and elsewhere but it's not going to change any time soon. The more people flock to SF the worse it will become.

When I left SF my studio "jr. one-bedroom" in SOMA was $3100 a month. I'd walk or muni to work by the ballpark and usually saw at least one person smoking meth, shooting up heroin, or pissing on the street. I pay less than half of that now for a 2 bedroom house in Michigan and have a stress-free 20 minute commute to the FarmLogs office.

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Re:Employees at Airbnb, Square and Stripe Are Spending 50%+ ... by suryon on Wednesday September 30, 2015 @05:09PM (#10307231)

3100 is almost double the average salary of IT worker in Central/Eastern Europe and these people are considered middle class.

Take a look at China and India there they earn even less.

How many and for how long can these companies keep hiring people for such huge salaries ? And if these people can't live comfortably off these salaries then there is something wrong.

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Re:Employees at Airbnb, Square and Stripe Are Spending 50%+ ... by whyaduck on Wednesday September 30, 2015 @05:41PM (#10307558)

Complex cross-geo projects aren't the same as local projects, except everything happens overnight. There are explicit and implicit expenses involved in managing and supporting projects in widely varied time zones that aren't obvious until you're involved in one. Especially if there's hardware involved.

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Re:Employees at Airbnb, Square and Stripe Are Spending 50%+ ... by link_108 on Wednesday September 30, 2015 @05:19PM (#10307318)

A few questions if you don't mind. What percent of your after tax income was rent? Are you making the same salary in Michigan? And what is the percent of your after tax income is rent now? Thanks! I would love to work remote / in a cheaper location, but salary decrease is worrying me.

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Re:Employees at Airbnb, Square and Stripe Are Spending 50%+ ... by VLM on Wednesday September 30, 2015 @05:44PM (#10307571)

"usually saw at least one person smoking meth, shooting up heroin, or pissing on the street."

This is why I like living in an area with -20F winters... keeps out the riff raff, oh and winter sports too.

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