Would love to see more economists weigh in on the great WFH migration. Key ?: How long will you be able to "smuggle" Palo Alto salaries into Phoenix or Providence? I don't think the arbitrage window will stay open indefinitely. Will there be new MSA-adjusted salary bands?
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Also interested to see if there will be more job-lock. E.g. you took your Twitter salary to Boise, but grow tired of the work/company. Unfortunately, other local/remote companies have comp based on non-SF market norms. Do you take a 40% paycut, even if your CoL allows for it?
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Replying to @josephflaherty
From personal knowledge many SF companies make location based adjustments to salary for WFH. Downward adjustments are welcome, upward adjustments are ignored. TBH this is subsidizes urban rent instead of incentivizing quality-of-life/$
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Replying to @derek_j_morris @josephflaherty
Not seeing any multipliers above 1 (for SF) here https://about.gitlab.com/handbook/total-rewards/compensation/compensation-calculator/calculator/ …pic.twitter.com/YqHNDdnCZc
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Replying to @stefan_arrr @derek_j_morris
Would be interesting how often they reassess those values in light of changing CoL. Overall, seems to be a real arbitrage opportunity for people who don't mind exurbs!
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Replying to @josephflaherty @derek_j_morris
I've never quite understood these CoL adjustments and always wondered if they're more than just a cost saving exercise and there's an element of wanting to cut down on envy between colleagues
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Replying to @stefan_arrr @derek_j_morris
Yeah, I mean theoretically at least the "job to be done" should have a market value independent of where the person who does it lives. There are harder to quantify economic spillovers that accrue to the firm when workers co-locate, but those go away in a remote world. IDK.
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> theoretically at least the "job to be done" should have a market value independent of where the person who does it lives In practice surely this is true for top talent already? (and these CoL adjustments would be repellents to them as they signal bad things)
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