I am from the US but lived and worked in both Austria and Switzerland for years. There are a lot of contrasts between Europe and SV, the social benefits certainly help offset the extremely high wages of SV. Quality of life is certainly much better in Vienna and Zurich than SF/SV, but the opportunities in certain fields are limited.

that said... if i could get a job paying 80% of what i make now, in either city. i would move back and take it in a heartbeat, considering it was something remotely interesting.