People here have a very blurry understanding of job demand and cost of living.

There was strong competition to hire the best and brightest engineers in SV. As the companies grew, they were reeling in talent from all over the world and paying high salaries and RSUs. This increase in quantity of people and their high incomes grew competition for housing and caused the high COL. Not the other way around. Silicon Valley companies didn’t just park themselves into a high COL and pay high salaries for the fun of it.

For existing employees who are in permanent WFH it is absolutely cuckery for them to reduce your pay. If they want to hire new employees and think they can get them for cheaper now, then they are welcome to do so. Really they’re welcome to do both but they’ll likely suffer a lot of turnover.

I work in SV and my company is not doing any reductions. Getting record bonuses and pay increases this fall. The company is also saving plenty of money on overhead reductions in the form of facilities closures.

I’m already tinkering with the idea of getting a place in the Nevada side of Lake Tahoe and claiming residency there to save 10’s of thousands of dollars in taxes. I am also considering having residency there but spending most of my time traveling in Asia and Europe being a degenmaxxer while making $400k and working remotely.

I absolutely love that the clown world gave us this covid shamdemic. My life has only gotten far better. The rich always get richer when the government pulls this bull****. Lol at everyone else. The world is not very fair.

Honestly one of the biggest cawksucker moves I've ever seen. Zero value of their own employees. Fuk these companies.


But good hopefully it keeps their stupid liberal employees in Cali.

Very glad to see Tech workers leaving the Bay. Feel very sorry for those where they are moving.

That's more from the feds keeping the money printer going than anything. Most of those guys' wealth is tied up in stocks, and the feds will literally never let stock prices fall again.

Good. Stop moving to SD. There was traffic on the 5 at 1:30 on a ****ing Saturday going south from La Jolla to the crib today

What the ****

Good. Phuck itcels and the horse they rode in on. Ded srs.

It is a toxic industry that delivers less solutions with every passing year. Time to admit that having an app for everything doesn't tangibly improve anyone's quality of life and acknowledge that society should stop paying these cockroaches to pretend it does.

Itcel crew checking in.

Oh wah! My international corporation that virtue signals about social justice turns around and butt phucks me the first moment they have the chance! I never say this coming because I am the lowest form of gullible cuck and should probably just donate my brain to science to better understand how I made it this far in life in the first place.

this is not rocket science. COL is factored into your pay... tech companies arent the only ones doing this you know.

Again, blurry understanding. Salary is correlated with COL but not dictated by it. It is dictated by the supply and demand of the type of labor they want. If they could pay $75k for an engineer of the caliber they want, they would. They don’t give a **** if you’re spending all your money on rent or not.

If SV companies think they can retain the labor they have and keep recruiting the labor they want by reducing salaries by 15% citing COL decreases, they are welcome to try it. But I’d bet they experience turnover towards companies that are still eager to invest in the best talent and pay for it. That is the beauty of the free market.

This COL argument is flawed and probably the same type of people who think minimum wage needs to be spiked to reflect a minimum standard of living or some other liberal nonsense.

Companies are exchanging money for labor. /end

If they applied this logic to executives (ie themselves) who literally do nothing for a living and earn several times more than the people that actually build and maintain things that enable their company to exist in the first place, I suppose I would be ok with this.How about not outsourcing work to India at the expense of American workers for short term gains? I'm sure they could find someone in the third world to argue on behalf of the company like you do and pay him the equivalent of field worker here. Going down this road we could probably get the entire world down to sub-Saharan standards of living in no time.

If they want to lower the pay let them do it. It workers want to take another job so be it. Let free market capitalism sort it out.

Yes, because it is.The companies CAN terminate the employment of these employees and then they can post up all the open jobs as "WFH" with a national hiring effort. That would be new "contracts".

Cutting the pay of existing employees who are already WFH due to COVID because the employees choose to move is BS.

And it would also be a new precedent in corporate employment overall. Plenty of people moved to TX from states/cities with a higher cost of living and retained their same salary (see: at least the '80s to the present) I'm sure the same was true for other lower COL states also. It wasn't uncommon at all for two workers with the same title/duties to have very different salaries because one of them transferred in.

If corporations move to majority WFH positions then everyone from NYC to BFE, Alabama will be competing for positions with the same salary rates. IOW there will be an actual disincentive for most people to live in expensive areas.I thought that was the plan? No nations, one global economy, the multitudes poor AF?

It just always amazes me that there are Americans who are in the same boat as you or me that will argue from the globalist perspective as if they're Jeff Bezos. LOL

Lol at anything but healthcare. I get paid more if I work in a lower cost of living area, not less, because they have to attract my talent and skills to their chithole city.

lol texas bros, yall be prepared cali boys coming dry

company A pays $100k, COL is 1.0x (benchmark). company B pays $100k, COL is 1.5x. companies make different products, but you'd enjoy working for either & job duties are equal. you really think someone is going to pick B over A? how does company B compete with A? they raise their salary to $150k. companies in NYC dont pay more because theyre getting better talent, they pay more to be somewhat competitive.

Are CEOs some sort of infallible gods that they deserve to hold as much wealth as they do, very frequently in companies they didn't even start? Is it good for the company that they siphon off so much money for their own personal wealth? Is it good for the economy, here or globally, to concentrate so much money at the top?

It's liberal to argue in favor of protectionism for your own nation? I guess Trump is a liberal too since he wants to bring back jobs from China and raise salaries here. What about the profits for the company? Surely it makes more sense if they can pay someone in China a fraction of what they would pay an American worker.

The companies don't want their employees moving away. They want to be able to watch when you come and go and if you're actually working or not. People working from home being on Webex (pre-pandemic) is a pain. The only ones who get away with that are engineers who are in high demand due to a speciality, so they can say "look if you want me you have to pay me $200K a year to live in Missouri".

Some administrative assistant isn't going to get away with working from home in Missouri with her kids running around in the background. There are too many others in Silicon Valley who are willing to commute in.

When Covid goes away you won't as much of this Webex nonsense.