Is this true? I am ignorant of actual prices in Bay Area, but people are always complaining of high housing prices there.
http://www.mercurynews.com/2017/09/25/about-silicon-valleys-...
When I bought in 2001, every house on the peninsula (between San Francisco and San Jose) no matter what condition had at least a dozen offers and it's worse now. http://www.mercurynews.com/2017/04/13/sjm-shortage-0414/
5-6X will not get you a nice house in a nice area. It will just get you a small house. In San Jose, the cheapest ones I'm seeing are in the 500-600K range - smaller than 1000 sq ft.
https://www.numbeo.com/cost-of-living/compare_cities.jsp?cit...
That doesn't make it right to do or that this behavior will get the high quality talent pool every company says they will hire. So why do you think that it will work in this case?
Let's say, an engineer's monthly salary is $10,000 in the US and he can afford X level of arbitrary "comforts in life". To be able to afford the same X level of arbitrary "comforts of life" in India, he'd need just $3000 - $3500.
These numbers are for illustration purposes only. Actuals will vary. of course.