Considering job offer 100,000k base salary

Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom

My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.

I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.

So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because

I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.

Is this offer something I should be moved to take?

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Caroline Gerardo

Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes

DM me age of your children to determine how long you pay for full time child care and afterschool. Also helps with commute ideas

Daly City, Sunnyvale commute with Bart?

Ask for moving allowance up front. $10000

IRS allows you to write off $5000 of dependant child care which isn't much, but something.

What google does is they own apartment buildings and bus workers in to campus, if you took the B leap then found job at established company vs start up the housing piece is half and they subsidize care.

Do not count on the $40000, it may not be available for three years, golden handcuff type compensation.

This is a leap of faith. How stable is the company? What income growth for you if the company does well?

Do you have any family who could move in with you to provide back up child care when they are sick?

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Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
I can see why you are hesitant after you pay rent and childcare there is not a lot A left over. How secure is the 40k? If it does not work out in Palo Alto where does that leave you. Check the company out. A start up that has just been funded can be like a drunken sailor and may not last. Do you have special talents that other Silicon Valley employers would want? Big decision and potential opportunity for you and your family to consider.
2 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Bjorn Ahlblad:

I can see why you are hesitant after you pay rent and childcare there is not a lot A left over. How secure is the 40k? If it does not work out in Palo Alto where does that leave you. Check the company out. A start up that has just been funded can be like a drunken sailor and may not last. Do you have special talents that other Silicon Valley employers would want? Big decision and potential opportunity for you and your family to consider.

Thank you for the reply! The 40k is pretty secure there’s 3 options for pay out cash, stock, or rsu,
it doesn’t pay out 100% in any option unless continually employed it vest 25% and then 6.25%
This would be the first company I work for in SV and it’s pretty well known, not sure if that should be a determining factor that it’s not a start up.

0 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Bjorn Ahlblad:

I can see why you are hesitant after you pay rent and childcare there is not a lot A left over. How secure is the 40k? If it does not work out in Palo Alto where does that leave you. Check the company out. A start up that has just been funded can be like a drunken sailor and may not last. Do you have special talents that other Silicon Valley employers would want? Big decision and potential opportunity for you and your family to consider.

If it doesn’t work out it leaves me searching for another job I don’t have any plan b as of now.. I could say my special talent is project management
0 Reply
Caroline Gerardo
Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
3y
DM me age of your children to determine how long you pay for full time child care and afterschool. Also helps with commute ideas
Daly City, Sunnyvale commute with Bart?
Ask for moving allowance up front. $10000
IRS allows you to write off $5000 of dependant child care which isn't much, but something.
What google does is they own apartment buildings and bus workers in to campus, if you took the B leap then found job at established company vs start up the housing piece is half and they subsidize care.
Do not count on the $40000, it may not be available for three years, golden handcuff type compensation.
This is a leap of faith. How stable is the company? What income growth for you if the company does well?
Do you have any family who could move in with you to provide back up child care when they are sick?
5 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Caroline Gerardo:

DM me age of your children to determine how long you pay for full time child care and afterschool. Also helps with commute ideas
Daly City, Sunnyvale commute with Bart?
Ask for moving allowance up front. $10000
IRS allows you to write off $5000 of dependant child care which isn't much, but something.
What google does is they own apartment buildings and bus workers in to campus, if you took the B leap then found job at established company vs start up the housing piece is half and they subsidize care.
Do not count on the $40000, it may not be available for three years, golden handcuff type compensation.
This is a leap of faith. How stable is the company? What income growth for you if the company does well?
Do you have any family who could move in with you to provide back up child care when they are sick?

Thank you for the reply! I asked for some Allowance they said my current address didn’t meet the minimum. Circled back and offered 5k.
i guess in this case I will need to consider some commute so I’m not ending up -

0 Reply
Ran Iarovich
Real Estate Agent · WA · Member since 2021 · 254 posts · 173 votes
3y
When does the job offer expire? What is your month-to-month living expenses without including rent? Can you get yourself another offer in the future if you gave yourself time to save more?
1 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
3y
Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom
My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.
I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.
So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because
I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.
Is this offer something I should be moved to take?

Stay in Hayward or San Leandro pay 1800-2000 rent and work in Palo Alto , everyone is doing that
3 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Carlos Ptriawan:

Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom

My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.

I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.

So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because

I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.

Is this offer something I should be moved to take?

Stay in Hayward or San Leandro pay 1800-2000 rent and work in Palo Alto , everyone is doing that
Thank you! I’m definitely gonna consider other areas now
0 Reply
Ash Hegde
Lender · Fort Lauderdale, FL (Lending in FL CT GA MI PA) · Member since 2022 · 470 posts · 349 votes
3y
This is a tough question and you are right, after increased taxes, rent and child care cost increases, the numbers will be much closer than they look at first glance. How many more years will you need full time child care? This seems like a situation that may be a bit difficult for the first couple of years but with a lot of potential to take off from there.
2 Reply
Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
I worked high tech in Silicon Valley for 30 years. Very exciting place and a lot is expected of you as well. Can be hard on a family. Make sure you want that. There is always more money to be had, especially after they give you a written offer. This might be your step to a whole new level of work and reward. All the best!
4 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
3y
Quote from @Myeasha Jones:

Quote from @Carlos Ptriawan:

Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom

My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.

I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.

So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because

I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.

Is this offer something I should be moved to take?

Stay in Hayward or San Leandro pay 1800-2000 rent and work in Palo Alto , everyone is doing that

Thank you! I’m definitely gonna consider other areas now
I have family work in Palo Alto and living in Stockton/Manteca as home price there can be bought for 300k cash.

if you buy now in Hayward some homes are selling for 600 700k only.

these are has strange phenomena in last 2 months , there are lot of new job , wage increase but home price in class C area is still more affordable than 2022, making this are has relative affordability’s increased for middle income earner , but at same time we have home price explosion for class A/B.

2023 is so weird ….. number of jobs increased in Bay Area/pacific is way higher than southern or Midwest state
1 Reply
Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
@Myeasha Jones the closest 'reasonable' rent will be Mountain View, still a good area and nearby.
1 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Bjorn Ahlblad:

@Myeasha Jones the closest 'reasonable' rent will be Mountain View, still a good area and nearby.

Thanks going to consider MV almost no one has even mentioned East Palo Alto and I’m seeing the rates there most affordable.. do you know anything about that area of SV
0 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Ash Hegde:

This is a tough question and you are right, after increased taxes, rent and child care cost increases, the numbers will be much closer than they look at first glance. How many more years will you need full time child care? This seems like a situation that may be a bit difficult for the first couple of years but with a lot of potential to take off from there.

Yes considering after taxes net pay will probably be around 6K
0 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Ran Iarovich:

When does the job offer expire? What is your month-to-month living expenses without including rent? Can you get yourself another offer in the future if you gave yourself time to save more?
It expired May 4 and I was able to sign it and get everything confirmed for starting 1st wk of June. I’m going to reach out the recruiter to find out if I can potentially chg the start date,
0 Reply
Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area.
You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!
1 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area.
You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

Gotcha. Thank you!
0 Reply
David Dachtera
Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
3y
Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom
My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.
I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.
So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because
I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.
Is this offer something I should be moved to take?

$4,200 / mo is $50,400 / yr . At $100K gross, your take-home will be around $74,000 net before voluntary deductions (health, other benefits, 401k, etc.).
After daycare, "Cowboy math" looks like you're coming up negative before you even look at groceries and other purchases.
My $0.02 ...
1 Reply
Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
3y
Quote from @Myeasha Jones:

Quote from @Ran Iarovich:

When does the job offer expire? What is your month-to-month living expenses without including rent? Can you get yourself another offer in the future if you gave yourself time to save more?

It expired May 4 and I was able to sign it and get everything confirmed for starting 1st wk of June. I’m going to reach out the recruiter to find out if I can potentially chg the start date,

Maybe with it expiring May 4th, relocation incentives can be revisited.
Seeing a recruiter is involved made me flinch. Another mouth needs fed. What are the terms there?
Overall my feeling is meh. I doubt your net dollars- what you keep - will be higher but your taxes paid sure will be.

0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
3y
Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area.
You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

I lived in Palo Alto for 10 years and grew up in the area. EPA in the day was a war zone.. but I think it has changed a lot.. I would at least drive through and see what can be rented and check the schools before you cross it off the list.
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1 Reply
Account Closed
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
3y
Come to Toledo you can buy fourplex to house hack for 300k or a single family for 75k.
1 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @David Dachtera:

Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom

My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.

I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.

So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because

I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.

Is this offer something I should be moved to take?

$4,200 / mo is $50,400 / yr . At $100K gross, your take-home will be around $74,000 net before voluntary deductions (health, other benefits, 401k, etc.).
After daycare, "Cowboy math" looks like you're coming up negative before you even look at groceries and other purchases.
My $0.02 ...
Yes avg rent there is high. So I’ve looked at options that are not as updated cost around $2295 for rent
0 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Account Closed:

Come to Toledo you can buy fourplex to house hack for 300k or a single family for 75k.

🤔🤔🤔
0 Reply
Myeasha Jones
OP
Property Manager · San Francisco, CA · Member since 2020 · 53 posts · 17 votes
3y
Quote from @Jay Hinrichs:

Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area.

You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

I lived in Palo Alto for 10 years and grew up in the area. EPA in the day was a war zone.. but I think it has changed a lot.. I would at least drive through and see what can be rented and check the schools before you cross it off the list.

Thank you!
0 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
3y
Quote from @Myeasha Jones:

Quote from @Jay Hinrichs:

Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area.

You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

I lived in Palo Alto for 10 years and grew up in the area. EPA in the day was a war zone.. but I think it has changed a lot.. I would at least drive through and see what can be rented and check the schools before you cross it off the list.

Thank you!

EPA is quite gentrifying story. Some area inside EPA is quite okay these days.
To be very honest , the way to survive in this location are three key things:
1. needs to own a house, and house in the are currently is quite affordable from its standard.
2. needs dual income family, with one side working at tech / finance / ; or maybe construction.
Lot of hard worker people, not just the one in tech, is very succesful in the area due to high income earner and lot of jobs.
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