Everything I have seen has indicated that cost of living in NYC is actually lower than in the SFBA but then again many people would not even consider in living in some of the boroughs
I have always been of the mindset that if companies were willing to pay SV salaries in cheap parts of the country they would be able to recruit smart people to move there. Money is an amazing motivator.
I moved from the Bay Area to Houston in the summer. Having grown up in the bay I assumed that it would cool down at night like it does in California. I was wrong.
Property Tax rates are higher in Texas. But there is no major city in California near a job center where I am able to get a nice move in ready home for 250k. A comparable home to that house that is 250k in California will be paying more in property taxes annually.
Thats just not true at all. All that means is that you're slow and forget to move your oil pan from underneath your oil drain to underneath the filter.
Then again I was raised by a single immigrant mom. I was taught to pinch pennies in ways many people cannot relate to.
they can cut their pay and their employees could still be better off since they are going to be expaning in Austin where there is not state income tax.
Also, the company will be able to save more money since everything is cheaper from taxes to real estate in other states compared to California.
The article I read said that they were going to give their current employees the opportunity to relocate. It did not specify if there was going to be a change in their income though.
I have heard so many people justify companies locating in the Bay are due to the talent found in the area. While that may be true I have a hard time believing that companies would not be able to recruit in cheaper large cities like Austin, Dallas, Chicago, Philly, Etc if they offered Bay Area money.
you can buy a nice new house in most of the country including many of the largest cities in the country. Only that people always try to find reasons why the cities that are cheap are not cool enough for them