Is Making $140k Enough in the Bay Area/SF?
I've been working for approximately five years, earning about $140k in the Bay Area/SF. Strangely, despite my income, it seems like I'm just getting by after covering rent, gas, and daily expenses. Occasionally, I go out with friends, but we don't splurge on food, drinks, or entertainment. However, I find it challenging to save money. I'm putting in a lot of effort to increase my earnings to around $200k by next year, but I'm interested in hearing your guys' perspective or view on living in a HCOL city. I know I'm not going to be getting bottle service every weekend but what is comfortable for you guys?
Rip
Bay Area is full of indulged highly paid tech duds who spend 50 bucks on the most ordinary grocery. They make every price inflate like ballooon. 140k is not nearly enough for Bay. Most likely you need 250k to be considered as above average.
No, as a matter of fact in San Francisco you are considered “low income” if you make like less than $110k.
You can have a decent life on $140k base if you live with a lot of roommates.
When did people get so soft. I made 24/hr as an intern in a major city a few years ago and I was fine.
If you expect to live in a luxury 1BR and eat out/grab drinks every weekend then no 140k won't be enough. You also won't be able to take luxury vacations every month.
Yes 140k will be enough for most people. The average person in NYC or SF probably makes sub 70k. Lot of my peers spend a chunk going out every weekend and traveling a ton. I also see a lot of people getting subsidized by their parents. Many places you can cut back on spending. I would say it's way easier to be frugal out of college than it is to cut back once you are spending a lot.
The funniest things about parent subsidies are the rich kids don't even think they are getting subsidized.
They "earn" their money and that goes towards their rent, travels, food, clothes, entertainment, etc. etc. Saving next to nothing.
Then they magically turn 30 and have a wedding and house down payment paid for by the Bank of Mom and Dad.
And somehow all these kids did it "all by themselves".
I'd throw in the full-pay 300k college in there too.
The amount of people who live this life in LA/NYC is mindboggling. How much Xanax do you have to pound to believe that the apartment you own in Greenwich Village wasn't bought by mom and dad? What a sad boring life
Someone mad they gotta work harder like everyone else. Grow up and get yo bag up
I felt pretty poor in SF when I was making 140k. Rent and grocery cost was insane compared to NYC.
That’s FTP base btw
I can basically guarantee you’re paying too much in rent.
At $140k total compensation, you shouldn’t be living in a nice 1BR. You should either be living in a poorly located place, a very small place, or living with 1-2 roommates.
In sf, my estimate is someone making $140k should be paying no more than $1900 per month for rent.
$2k per month to rent (incl utilities) leaves $5800 per month for spending and saving after taxes. Keep your monthly spending to under $4k (this is a nice lifestyle, even in SF) and you’ve got $2k to save every month assuming you contribute something to 401k.
I went on Zillow and found dozens of places that would allow you to pay $1900 or less. And they’re not in the tenderloin or whatever - they’re decent parts of town. You just need a roommate, need to be okay with a decent walk to public transportation, or need to be okay with a studio
I’d say ideally, you have roommates and you’re paying like $1500 though. Low living expenses is pretty much the answer to everyone’s financial problems. Even in LA, I know a guy who pays $700 a month to live in a not so great located house that doesn’t have a washing machine. You can make it work in any city.
Bay area is trash anyways the only money you need is for nice dinners and a nice air freshener to rid the smell of hundreds of thousand homeless people
LMAO why are you guys OD about this its a joke
Bro my buddy went to NYC and came back saying OD - wtf does it mean. Overdose?
I’m at 140 base, 40% bonus in SF. If my all in comp was only 140 it would be a struggle, but I pretty much spend base and save bonus currently.
I make more than that in tx and I don’t feel like it’s enough
Del
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