I will grant you that if you have a family it's way cheaper due to availability of real houses in the burbs combined with cheaper daycare/nanny/housekeeping/etc., but a young, successful tech worker is probably better off on the west coast despite the higher cost of living.
1) non bay area tech workers severely underestimate the total comps that bay area workers are earning right now.
2) many renters in the Bay Area may actually have more in their pocket. If you are willing to rent a room (i.e not have a studio or 1BR apartment), you're probably paying 1-1.5k more per month. The salary delta for Bay Area techies is way more than 12months*1.5k/month per year. Have some basic financial responsibility and you can really save a lot out here.
And that's just looking at the difference in rent. The number goes up further if you account for the fact that everything else is also more expensive in the Bay Area, and if you add in the additional money you need to save for a down payment, assuming you want to buy at some point. I wouldn't be surprised if that $40k/year difference ends up in the $60k-$70k range if you factor those in.
I don't doubt that a $60k-$70k difference in total comp is achievable at FANG. At startups, you probably don't get there without counting equity, which is riskier and far less liquid than equity comp at FANG.
My mortgage on a 5 bedroom 3 bath house (3k sqfeet) in the population center of Houston is $1500 a month...
That being said the most I have ever paid for a apartment was $2100 a month for a 2 bedroom in the riches part of town with views of the city skyline and spiraling biking and jogging ways. Awesome food everywhere.
$800 or less and you can still live in a nice area with more food options and awesome public parks and public transpiration.
And if you are on a budget -- you can still get 1 bedroom apartments for $500 to $600 a month --- from my understanding you can't even get near that in the Bay Area, you would break the bake at 1k for a single room.
That’s fine for the first year after graduating, but then when you get married and have children what are you supposed to do then?
