Federal service to Bay Area Startup
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Anonymous
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is this a crazy move? How much salary bump would make it worthwhile?
Is there a tech bubble? How long until it bursts? |
Anonymous
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depends on the startup. uber, airbnb shit like that - you'll be ok.
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Anonymous
No much smaller but similar companies acquired by big guys recently. |
Anonymous
| Really, what is keeping you here, the great Washington life? |
Anonymous
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Housing is very expensive in Bay Area. Unless there is enough upside to cover that, I would not move.
http://www.zillow.com/palo-alto-ca/ |
Anonymous
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pp again. I do think think there is a tech bubble.
As for salary bump, depending on what you do. Regular programmers do not get paid a lot higher than this area, unless working for FLAG (Facebook, LinkedIn, Apple, google). The hours are crazy - my friend went home at 5pm for a Sunday dinner with his family, and was labeled a slacker by his boss. You have to be in management or very young to be worthwhile. |
Anonymous
Sorry, I do not think.... |
Anonymous
Sunday dinner? I don't think even biglaw is that bad. But doesn't everyone in Cali have flexibile scheduele and telework all the time? And what is upside for most programmers when company goes public or acquired, usually - how does your offer look for stock options equity? |
Anonymous
If OP is Fed, then he would have probably a bit more stability than a startup, pension, etc. But I think Bay Area companies do give unlimited vacation and sick leave, though not sure how that really works? |
Anonymous
Is there equity? How long till the cliff? Then is vesting monthly? Are they rsus or options? How in the money are they if options? Personally I don't think I could go for less than a 40% bump. The cost is totally stratospheric. A friend just purchased a 4bd condo on the market for $1.9, he offered $2.4. People are literally bidding homes hundreds of thousands over ask. |
Anonymous
Considering most Fed salaries top out at $150k, you are look at around $200k salary as target range to afford to live there AT ALL. |
Anonymous
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There is definitely a bubble, it's evident if you spend any time in the bay area. (well, I suppose it would help if you had spent time in the bay area during previous bubbles.) "Irrational exuberance" does not even begin to cover the tech atmosphere in california right now, and real estate is also busy doing its effervescent thing.
Regarding the "unlimited" vacation and sick time- that's just an accounting shell game. accrued sick leave and vacation in a formal plan becomes a running debt on the company's books, as they might be called on to pay it out at any time. So the startups and the companies running on lean margins have moved to the "unlimited" plans because then there is nothing to pay out if an employee leaves or the company goes under. Also, people tend to take less vacation when they mentally think "well, I can take as much as I want... later." Re: options, for both RSUs and options, there is usually at least a 12 month cliff after the board approves the grant, and then remaining stock vests monthly or quarterly thereafter. RSUs are the least headache, but get taxed as straight income on your W2 regardless of whether you sell or hold. ISOs require careful tax considerations around AMT. What round of funding are they at? Will they allow an 83b election? (Can you carry the risk of an 83b election?) Personally, I am looking to go the other way. Currently working for a CA tech company, hoping to get a federal job. Not even considering any other CA tech company. It's insane out there. |
Anonymous
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Tech = no security, be ready to move around and risk no job in an intense market in a super high cost of living place (much worse than here).
If you can handle that, go for it, you have to be comfortable with huge risk. As to $$, what salary are we talking about (and what other benefits as mentioned above)? If you make $60k as a Fed here, I'm not sure even 120k will get you very far in the Bay Area these days with the ridiculous cost of living there. And you certainly won't be building wealth for retirement absent much bigger potential via other benefits. |
Anonymous
But doesn't the valley always recover and start the next bubble. This is like the 4th boom, it's always reinventing and innovating so even a 'crash' is short term like dot.com to FB was like 5 years. Not that dire? It's a lot of hussle but a Lot of upside compared to DC If you are engineering, best bet is to start a contracting company with your target agency and then gain specialized skill needed for that agencies mission. |
Anonymous
"The valley" as an entity always recovers. Not that dire unless you lost your retirement money or your house. The valley recovers but it grinds up an awful lot of people in the process. There's always going to be a new crop of 22-year-olds in hoodies that are going to make the next miraculous app to have someone pick up and drop off your laundry, or a social network for dogs. (Don't forget four million dollars for an app that only allowed people to say "Yo.") The risk/reward profile is closer to vegas than one might think, and right now there is a huge influx of incompetent but enthusiastic workers. If you can afford the risk, sure, go for it. The weather is lovely. But: real estate (both rental and purchase) is staggering, traffic is abysmal, the hours are long, the drought is very real, and don't forget the earthquakes. (the CA earthquake fund will go bankrupt if there is another large quake; homeowners/rental insurance will not cover any damage or loss). VC is generally a ponzi scheme. Schools are terrible-- you'll need to budget for expensive and competitive private schools if you have kids. A lot of places due to bad engineering cope by being in crisis mode all of the time, which will age you prematurely. Most places have an age bias, so you'll have to figure out how to look younger while being exhausted. In general the CA tech life works well for the 20-something worker with no responsibilities and no debts; you tend to work hard and play hard with your coworkers, and the perks are all designed to keep you at the office. An engineer making $150k can pay a $4000/mo rent bill without blinking because he can get all of the single-origin coffee he wants at the office. |