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Reply to "Facebook announces that remote WFH employees will have salaries decreased to match local COL"
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[quote=Anonymous]Many people so gladly take a pay hit to move out to a LCOL area. Wow, you make a lot of money in the bay area? So what? My buddy works at a hedge fund in SF. Sure, on paper he makes lot. He could only afford a @800 sq ft home that cost $1.5 million. He still has to drive 60-90 minute with Bay bridge traffic go get to and from work. He did the math. When you factor in CA's insane taxes for income, sales, and property, he has to work almost half of the year entirely for free. And he loves in a small house for that price that needed additional huge investment for renovations. At some point the financial math just becomes so ludicrously stupid like SF that even a huge pay cut is still worth taking to move out to a lcol area where you don't need to drive 80 minutes each way to work just so you can afford a place to live for the ludicrous price of $1.5 million.[/quote]
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