Putting aside the fact that these policies can change on a dime (it's really "permantnet work from home _for now_"), what's really crazy is that people are seriously planning to take companies at their word and are considering leaving the Bay Area and are assuming they are taking their Bay Area comp with them.
Ok, cases:
1. company does NOT to geo-based adjustment to any current employee, but DOES use adjusted salaries for new ones (in other words, path-dependent compensation). Two people, same job, different compensation. This is not that unusual in other industries but can be a source of serious resentment. Suppose a bay area employee moves to India..
2. company uses relocated employees to establish new comp packages for those geos - this will only go so far. many cases will be employees moving to less expensive areas.
3. company sets a "standard" compensation package world-wide that everyone gets - this is impossible to really execute on, or it will be very low relative to peer companies.
and so on. Employees who end up in a case 1 situation will find that after AVERAGE_TENURE they go looking for a new job and end up geo-adjusted. From a company perspective, this is a no-lose golden handcuffs situation and anyway the problem resolves itself quickly.
I tend to believe companies will walk this back as soon as covid-19 dies down, if not right away then as part of executive transitions where someone decides to "transform the business." But in the end it makes no difference - the long term trajectory, if it sticks around, is probably case (1) or some blend of (1) and (2). For developed nation engineers, case (3) is dire, the end of the career.
This is obviously not true. If my employer announced permanent work from home, I would immediately start looking for a new job.
The majority responded that they didn't want to WFH. There was a question that had several options for which composition of WFH vs WFO people wanted in the new normal. Only 25% of people picked an answer where they would WFH more often than they'd WFO.
My experience has been that people that struggle with these things are just as unproductive in an office, they just hide it better.
By far the most productive teams I've been on as far as getting work done are remote teams. When you're remote all that matters at the end of the week is how much stuff you can concretely show you have accomplished.
In an office you can get credit for doing nothing very easily.
So yea remote work is going to be rough for people that are currently using office culture to hide, and in some offices that is a very large number of people.
The answer to this really depends upon the person. I've worked from home since I graduated from college, and initially I would eat, sleep, work, and play games all in the same room, because I had roommates. And I was fine with it.
Some people can't do that. Some people need a dedicated workspace. Some people need to get dressed. My brother works from home, and he still wears a tie everyday. Because that's what he needs to do to get into "work mode".
I'm not saying any of this will work for you. But just wanted to let you know that while this is a thing for some people, you still might be able to get that feeling when you work from home.
Separately, if you're undifferentiated then of course anyone will be able to do your job if you're colocated with headquarters or not. The trick to selling your time for more money is to differentiate yourself in a way that creates more value for the company hiring you. Your career is a business that rewards a continuous growth and sales process.
I work for an all-remote company and wages are based on the NY labour market. Anyone on the planet can apply sure, but I've not seen salaries reduce (if anything they're highly competitive outside of SF!). If you can get $150k and live wherever you want I wouldn't complain!
I feel like these kinds of blunt "no reason" statements are meaningless, just like saying "work from home sucks" or "work from home is always the best."
I live in a city and work from home, and I will continue to live in my city even if the entire industry goes to primarily work from home. There are a lot of reasons to live here, several centered on "driving sucks, according to techsupporter." I would hate to live in a suburb or out in the country, places where I've lived before and have moved away from.
Coming from a non-coastal state, I honestly do not understand the superiority complex a lot of coastal developers have. There are good developers everywhere, and the ones living in the southwest or the midwest are willing to do the same work for less money. But, you can be willing to bet the execs will receive a pay bump for their "cost-saving measures".
I have been telling my coworkers and friends for years that these salaries are not sustainable for 30 years and everyone called me a pessimist.
It's not hard to see that the "good times" and "gold rush" can't last forever. The fact people lied to themselves thinking it's permanent should teach them something about themselves.
Then why do so many Google/Facebook/Apple employees live in SF and commute for over an hour to the suburbs?
Why not pay them 40k a year to live in India instead?
The real truth though is most people are far less productive remote because it requires proactive communication and self discipline that just don’t appear because now you are working remotely.
This is to virtue signal and get out of expensive real estate in Civic Center SF in Twitter’s case. That area is a zombie apocalypse.
If you are fully remote then anyone in the world can do your job. Supply goes up prices go down. I bet execs will get paid the same though.