-born, Seattle-raised. Plus one: 
Just imagine what happens when the startups out of this type of lineup are able to 2-5X their valuations. (I think Airbnb still has that potential, fwiw)
Show this thread
entry level software engineers in the bay area are getting paid! This looks right if you count cash and equity comp. https://www.levels.fyi/2018/ pic.twitter.com/VfGgfrPhBg
-
-
-
I'm seeing replies on the Bay Area's cost of living. Yes, it's higher. But there's also a trajectory what you learn (and earn!). If you're good, and keep moving up, then the earnings 5 years in or 10 years in are even higher. Those opportunities don't exist in smaller tech cities
Show this thread -
Obviously not everyone has the opportunity or ability to stay on the trajectory. However, you can always leave the Bay Area when you're ready to go somewhere with better work/life balance, ROI, etc. But you leave with world-class experience and skills which are transferrable
Show this thread -
5-8 years in - remember, you would still be in your late 20s after graduating with a computer science undergrad - this is what engineering packages look like. This is from https://www.levels.fyi/2018/ but it foots with what I've seenpic.twitter.com/xhk2S7XH1A
Show this thread -
In your mid/late 30s, those who end up as director/VPs of engineering do even better. Multiples better! This is an amazing opportunity in the economy right now, and why getting more people the opportunity to learn to code and to join the tech industry is a big deal
Show this thread -
By the way, this sort of relates to the Bay Area's mission-oriented startups versus China's market-oriented startups discussion from a few days ago: https://twitter.com/andrewchen/status/1076989437656088576 …. I think being mission-oriented ends up being a pre-requisite given the level of competition for employees
Show this thread -
If your startup is mercenary, and it's just about making $, then be ready to compete with the packages from the big tech cos like Google/Facebook. Or give $1M bonuses like Juul. Otherwise you'll lose because great talent is expensive, and the SF talent market is highly efficient
Show this thread -
The only way to get great people to give up substantial short-term wealth is to do something that's meaningful, to have a tremendous impact on the world, and yes - in the long term, provide wealth to the team as well. But you need story, and meaning, and impact. Not just dollars
Show this thread -
I tweetstormed about the insane costs of starting a company in the Bay Area recently here: https://twitter.com/andrewchen/status/1013877283633934342 …. So I'm with all of you on the negative implications of all of this
Show this thread -
However, the other thing that's happening is that the ecosystem is evolving, and putting the exec team + key hires in SF, and having a remote team for everything. I jokingly refer to that as The Mullet Strategy:https://twitter.com/andrewchen/status/1013877294820134912 …
Show this thread -
On one hand, omg this is insane! But at a systems level, we've created a way to attract the best people on earth to build new tech, pay huge amounts, so they can work on the best opportunities. Folks shift themselves around when ideas don't pan out. This is dynamic, and awesome
Show this thread -
This leads to a contrarian point, which was first made by my colleague
@DCoolican at a16z: It's exactly because of this ecosystem (and the network effects holding it together) that the Bay Area will remain the dominant tech center, regardless of improvements in remote work.Show this thread -
In his words, the "next" Silicon Valley is a myth: https://twitter.com/DCoolican/status/1025996548277030912 …. Either the network effects stay (and SF continues) or network effects no longer apply, and the whole thing turns decentralized. But IMHO it's hard to unbundle the talent, capital, knowledge, etc.
Show this thread
End of conversation
New conversation -
-
-
This is actually lower earnings compared to Austin when factoring in cost of living.
-
If you look at it as a snapshot of time, maybe. But the Bay Area has much higher trajectories and earning potentials because 5-10 years down the line there are director/VP-level roles where that packages are 7 figures, and those jobs don't exist in smaller tech cities
-
Agree although few people can get there or are willing to operate at those levels.
-
And when you hit the ceiling, then you can move to a smaller city but with world-class experience and skills
-
Cost of living is still a factor later in career, right? There are more such jobs in total, but salary levels are still comparable. Friend who is a director at Visa now is earning less than director at Dell 5 years ago (after adjustment).
-
Disagree. There are many jobs in the Bay Area at the senior levels which simply don't exist anywhere else
- 1 more reply
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.