Given the profit margins of many tech companies, I would argue there is a dire need for employees to unionize and collectively bargain for a much larger share of the pie
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Completely agree, people should still be paid fairly for their time. This was more a reaction to Europe being ‘broken’. Otherwise fully approve of the threads intentions.
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It’s the housing cost. Family and I moved to South San Francisco (home to Genentech, future home of Stripe) in 2014. Bought fixer upper 3 bed, and bath, 1200 sq foot home for $684k. Spent $20k to renovate rotting bathroom. I made $140k a year as a L3 attorney at Square.
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House is now worth $1.2M. But my salary hasn’t doubled. And the same size house in a good school district costs ~$1.6M. California has 1% property taxes. So a reasonable mortgage + taxes on a $1.6M a year house is about $6k a month. That’s what drives FANG salaries.
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Pay says nothing if not considering the cost of living amd taxes for your location. $150k per year would enable you to live pretty luxuriously in Amsterdam but would get you nowhere in SF.
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Bay Area compensation is *much* higher than a cost of living adjustment
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