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Thunderdome Twitter employee making $160,000 a year says he's only scraping by in San Francisco
2017 Mar 1, 2:56pm 6,114 views 40 comments
by zzyzzx follow (9)
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zzyzzx
2017 Mar 1, 3:03pm
Better read is here (whole article):
https://www.theguardian.com/technology/2017/feb/27/silicon-aa-cost-of-living-crisis-has-americas-highest-paid-feeling-poor
Neither website had a comments section for the article.
Patrick
2017 Mar 1, 3:09pm
That guy needs to switch from powder coke to crack. Far more economical.
1) $160,000 is only his base salary
2) his rent is only $3000
3) he is over 40, i.e. has had enough time (20 years) to amass a fortune
Twitter needs to find out who he is and fire this moron
People between the ages of 18 and 34 who work full-time in San Francisco earned a median salary of $59,000 in 2013, according to US Census data.
What percentage have parental help? At least, among those who see working in tech at that age
FuckTheMainstreamMedia
2017 Mar 1, 3:40pm
When I made $80k, I paid $1650 a month rent and lived the life of a king, albeit being single with zero debt and a paid off car. This guy is full of shit and a life moron.
albeit being single with zero debt and a paid off car
You don't think marriage and two kids might add a few expenses?
Strategist
2017 Mar 1, 4:12pm
1) $160,000 is only his base salary
2) his rent is only $3000
3) he is over 40, i.e. has had enough time (20 years) to amass a fortune
What does he do with all the money? Bad financial management.
Trust me, if this guy made twice as much, he would still be broke.
Twitter needs to find out who he is and fire this moron
He should have been working for Apple or Facebook. I bet his company stock and options would be worth millions.
Heraclitusstudent
2017 Mar 1, 4:48pm
1) $160,000 is only his base salary
2) his rent is only $3000
3) he is over 40, i.e. has had enough time (20 years) to amass a fortune
2 kids preschool = $1800 x 2 = $3600 / months.
Salary after taxes, 401K, and healthcare: I'm guessing around $7000/months. He's almost underwater before eating his first meal.
He needs to get better at working his wife.
Heraclitusstudent
2017 Mar 1, 4:52pm
One Apple employee was recently living in a Santa Cruz garage, using a compost bucket as a toilet.
Apple is a green company indeed.
FuckTheMainstreamMedia
2017 Mar 1, 6:31pm
albeit being single with zero debt and a paid off car
You don't think marriage and two kids might add a few expenses?
I think double the income and a rent that is 23% of his gross are pretty damn reasonable numbers.
FuckTheMainstreamMedia
2017 Mar 1, 6:34pm
1) $160,000 is only his base salary
2) his rent is only $3000
3) he is over 40, i.e. has had enough time (20 years) to amass a fortune2 kids preschool = $1800 x 2 = $3600 / months.
Salary after taxes, 401K, and healthcare: I'm guessing around $7000/months. He's almost underwater before eating his first meal.
He needs to get better at working his wife.
My wife is a preschool director in a very nice part of LA County. Not the best for sure, but safe with caring staff. Try $600 a month. She worked at one of the $1800/mo places. You don't really want to send your kid there.
It's always about wants vs needs. Always. The guy in this article is full of life fail.
Heraclitusstudent
2017 Mar 1, 6:42pm
My wife is a preschool director in a very nice part of LA County. Not the best for sure, but safe with caring staff. Try $600 a month. She worked at one of the $1800/mo places. You don't really want to send your kid there.
Not is SF. $600 would probably get your kids kept by illegal immigrants who don't speak english and have no training.
Y
2017 Mar 1, 8:19pm
isn't the pleasant tone of this thread some kind of thunderdome abuse?
can the typical thunderdome inhabitant claim some kind of compensation?
Patrick
2017 Mar 1, 8:29pm
isn't the pleasant tone of this thread some kind of thunderdome abuse?
can the typical thunderdome inhabitant claim some kind of compensation?
fuck you all! goat fuckers!
better?
RealEstateIsBetterThanStocks
2017 Mar 1, 9:58pm
yes rent is high but his main problem is having a wife and kids esp in the Bay Area.
Dan8267
2017 Mar 1, 10:29pm
Twitter has software engineers?
Yes, but every function can only be 140 characters, so the variable names are atrocious.
When I made $80k, I paid $1650 a month rent and lived the life of a king, albeit being single with zero debt and a paid off car. This guy is full of shit and a life moron.
When I was making $75k and single I felt rich too... 2 kids and a wife that doesn't work doesn't go far in San Fran. Also all the child tax credits... Student loan interest deductions all disappear at his income level.
FuckTheMainstreamMedia
2017 Mar 2, 7:33am
When I made $80k, I paid $1650 a month rent and lived the life of a king, albeit being single with zero debt and a paid off car. This guy is full of shit and a life moron.
When I was making $75k and single I felt rich too... 2 kids and a wife that doesn't work doesn't go far in San Fran. Also all the child tax credits... Student loan interest deductions all disappear at his income level.
He makes $160k and pays less than 25% of gross in rent.
zzyzzx
2017 Mar 2, 7:44am
He makes $160k and pays less than 25% of gross in rent.
His % rent after taxes is more relevant.
When I made $80k, I paid $1650 a month rent and lived the life of a king, albeit being single with zero debt and a paid off car. This guy is full of shit and a life moron.
When I was making $75k and single I felt rich too... 2 kids and a wife that doesn't work doesn't go far in San Fran. Also all the child tax credits... Student loan interest deductions all disappear at his income level.
He makes $160k and pays less than 25% of gross in rent.
Wives are expensive... As a man I could survive on far less daily expenses than my wife. Hair, nails, makeup, shoes, clothing costs alone run into the hundreds... Thousands a month....If she's fit and active.... Add on all kinds of expenses for gym memberships ect. Your mind will be blown when you get married how hard it is to budget. Find one that enjoys her career to offset the costs... Haha.
Then add kids to this scenario... And no one is saving much in San Fran on $160k a year.
2 kids preschool = $1800 x 2 = $3600 / months.
First, If he sends two kids to preschool, that means his wife works and her income should cover that expense.
Second, you ignored points 1) and 3) on my list.
If he is 40-something with pre-school age kids, he had had enough time in his twenties and thirties to stash a nice pile of $$ and in addition to essentially take care of his retirenment.
Heraclitusstudent
2017 Mar 2, 10:18am
If he is 40-something with pre-school age kids, he had had enough time in his twenties and thirties to stash a nice pile of $$ and in addition to essentially take care of his retirenment.
Even if he has a cash stash set aside for retirement... one would hope to run a surplus with $160K/yrs. Especially if one hopes to buy RE one day.
His main mistake was not to buy and go in debt big when he was 20 something. Now savings or not, he has to choose: buy or retire. He doesn't have enough for both.
It's too late. He's fucked, along with everyone born after him.
Patrick
2017 Mar 2, 10:56am
His main mistake was not to buy and go in debt big when he was 20 something.
No, his main mistake was not to put everything into index funds.
zzyzzx
2017 Mar 2, 11:00am
No, his main mistake was not to put everything into index funds.
I do well not indexing, but then again, a all of my mutual fund pics pre-date index funds.
Anyway, another thing to figure in here is that Twitter stock sucks. So if he was getting stock options as part of compensation they have been mostly likely expiring worthless.
RWSGFY
2017 Mar 2, 11:17am
Anyway, another thing to figure in here is that Twitter stock sucks. So if he was getting stock options as part of compensation they have been mostly likely expiring worthless.
Stock or no stock, $160K is not a shabby salary even for SF.
Dan8267
2017 Mar 2, 11:24am
His main mistake was not to buy and go in debt big when he was 20 something.
No, his main mistake was not to put everything into index funds.
No, his mistake was getting married. That's why he can't live on $160/yr.
one would hope to run a surplus with $160K/yrs.
You are again ignoring the point that this is only his base salary.
Furthermore, if he had saved earlier, with a few hundred thousand $ saved, he could have had a nice steam of tax-efficient income to supplement his salary now.
RealEstateIsBetterThanStocks
2017 Mar 2, 9:39pm
it's very clear when we put this in business terms.
marriage is like forming an LLP with someone who produces less but still gets half the profits.
kids are not assets. they are liabilities.
zzyzzx
2017 Mar 3, 5:13am
Stock or no stock, $160K is not a shabby salary even for SF.
Honestly, I can get close to that around here.
His main mistake was
His main mistake was living in SF. Ahhh, but the dream, you know, you JUST CAN'T live anywhere else.
RealEstateIsBetterThanStocks says
marriage is like forming an LLP with someone who produces less but still gets half the profits.
you have to take into account expenses too; gross revenues may be less than 2x, but net profits per person may still increase
RealEstateIsBetterThanStocks says
kids are not assets. they are liabilities.
They start as liabilities and eventually become assets.
RWSGFY
2017 Mar 3, 8:51am
Stock or no stock, $160K is not a shabby salary even for SF.
Honestly, I can get close to that around here.
Good for you. Now go and get it, tiger.
RWSGFY
2017 Mar 3, 8:52am
His main mistake was living in SF.
This.
Why would anyone with kids of school age participate in insanity which is SF school system is beyond me.
insanity which is SF school system is beyond me.
Maybe they truly believe that diversity breeds excellence. Not saying I fully agree with them but......
I tip my hat to them vs suburban limousine liberals who want segregated schools and attempt to assuage guilt by voting for welfare, which is really about keeping the disadvantaged on their side of tracks.
Dan8267
2017 Mar 3, 10:22am
Thunderdome Twitter employee making $160,000 a year says he's only scraping by in San Francisco
In his defense, Starbucks just raise their prices.
http://finance.yahoo.com/news/twitter-employee-making-160-000-193700556.html
In the San Francisco Bay Area, even a six-figure salary can make tech workers feel poor.
A Twitter employee speaking on the condition of anonymity told The Guardian he's scraping by on a base salary of $160,000. The employee is in his early 40s, lives in San Francisco, and has had to borrow money in the past to "make it through the month," The Guardian reports.
"I didn't become a software engineer to be trying to make ends meet," the Twitter employee said. He added that his salary is a "pretty bad" income for trying to raise a family in the area.
In The Guardian article, the anonymous Twitter employee said his biggest expense is the $3,000 he drops on rent for a two-bedroom house in San Francisco - which he described as "ultra cheap" for the area. He lives with his wife and two kids.
The Bay Area is one of the most competitive rental markets in the US. In San Francisco, the median rent tops $4,200 a month, according to real estate site Trulia. One analysis suggests mid- to senior-level engineers at companies like Google, Uber, Airbnb, and Twitter can expect to pay between 40% and 50% of their salary renting an apartment near work.
Millennials, who make up roughly 30% of the San Francisco population, are driving prices sky high. And they are increasingly interested in boarding with a significant number of roommates in order to save money, which makes for tougher competition in the housing market.
People between the ages of 18 and 34 who work full-time in San Francisco earned a median salary of $59,000 in 2013, according to US Census data.
#economics #sanfrancisco #twitter