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thijsniks's profile
Thijs Niks
Thijs Niks
Thijs Niks
@thijsniks

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Thijs Niks

@thijsniks

Product Manager for ☎️ at @WhatsApp / ❤️ retweets

San Francisco, CA
thijs.niks.nu
Joined February 2009

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    1. Thijs Niks‏ @thijsniks 14 Feb 2020

      Thijs Niks Retweeted Jonny Burch

      Silicon Valley pay is outrageous and out of whack with the societal value it adds, but that’s no reason for individual workers to leave anything on the tablehttps://twitter.com/jonnyburch/status/1228581492797984768 …

      Thijs Niks added,

      Jonny Burch @jonnyburch
      As a Londoner seems a strange americentric take. Bonkers pay scales in US tech *is* the broken thing, driven by FAANG and VC $. Survival necessitates raising big and paying six figures + for every employee. But sure, junior devs deserve six figures, and VPs $1M 🤪 https://twitter.com/ZacSweers/status/1228205733302300672 …
      4 replies 0 retweets 5 likes
      Show this thread
    2. Matt‏ @regulatorynerd 14 Feb 2020
      Replying to @thijsniks

      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.

      1 reply 0 retweets 0 likes
    3. Matt‏ @regulatorynerd 14 Feb 2020
      Replying to @regulatorynerd @thijsniks

      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.

      1 reply 0 retweets 0 likes
    4. Matt‏ @regulatorynerd 14 Feb 2020
      Replying to @regulatorynerd @thijsniks

      Menlo Park, HQ of Facebook, home to fantastic schools has 1,200 sq foot homes for ~$2M. You can buy a whole apartment complex in other US cities and have a nice cash flow for that amount. But if you want a good commute/schools, you spend your money here (if you have it).

      1 reply 0 retweets 0 likes
      Thijs Niks‏ @thijsniks 15 Feb 2020
      Replying to @regulatorynerd

      Housing cost is a huge driver, but seems big tech salaries easily outpaced that. I suspect it’s more basic: Demand continues to outstrip supply, as not enough eligible workers are relocating to the Bay Area. Either way, salaries should be even higher given the profits

      12:06 AM - 15 Feb 2020
      • 1 Like
      • Matt
      1 reply 0 retweets 1 like
        1. New conversation
        2. Thijs Niks‏ @thijsniks 15 Feb 2020
          Replying to @thijsniks @regulatorynerd

          Though I get that costs skyrocket once you start a family. If only we knew how to solve for that… 👀

          1 reply 0 retweets 1 like
        3. Matt‏ @regulatorynerd 15 Feb 2020
          Replying to @thijsniks

          That’s the big driver. $300k liquid comp might be compelling when you’re single or without kids, but it takes more if you have a full family to support. My wife works and we have 2 young daughters with some heavy childcare costs ($2,200 a month, with oldest in public school).

          1 reply 0 retweets 1 like
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