Being a software engineer in San Francisco is very appealing. Just imagine receiving a hefty $132,000 paycheck a year - so if there's an opportunity to start your career there, you'll definitely grab the chance, right?
Software Engineer pay package in that part of California is really irresistible, however if you consider the cost of living and lifestyle there, you will definitely think twice. By computation, the total salary you will earn is relatively smaller than other states after deducting all the daily and monthly expenses.
Hired recently released a report stating that software engineers in San Francisco have the highest figures in terms of salary. The report reviewed payroll checks of professionals in this field of work in various states. The data showed that software engineers in SF can make $132,000 annually and placed first, trailing in second place is Austin with $110,000.
The report also included comparison analysis of living costs in SF versus nine major US cities. The review concluded that for one to live comfortably and enjoy good quality lifestyle in city by the bay, one has to make at least $180,000! They also revealed that this same quality of lifestyle could be enjoyed at only $116,000 in Denver while in Atlanta, you only need to make $96,000.
Software engineer paycheck in San Francisco looks insanely impressive, but chief executive officer of Hired Mehul Patel said that it's "not the whole picture," adding that "When you factor in the cost of living and other lifestyle aspects, engineers in San Francisco may be getting paid more there, but they take home significantly less than in other areas of the country."
According to the Council for Community and Economic Research, the cost of living in SF is 62.6 percent higher compared to the average in U.S. States -- with housing almost three times costlier. And to give you more idea where most of your paycheck will go, here is a breakdown of what you must expect to pay for after moving and working in this city. Smart Assets also shared estimated amounts for each category:
1. Cost of homes -- has now reached a staggering $737,600 (2014).
2. Home rental rates -- start at $4,650 for 2-bedroom unit. This is $1,000 more expensive than in New York.
3. Transportation - if you own a car, daily parking fees is $20 and up -- that's about $200 - $400 per month.
4. Food -- SF is home to the best restaurants in the world and a meal at a "mid-range" eating place costs $80. To save money cooking at home is less costly but grocery items are not cheap either.
5. Health care -- based on data, San Francisco's health care is 20 percent higher compared to the rest of cities in U.S. Doctor's fee alone can cost $251 and up.
As a software engineer, seeing these analysis and data, would you still consider moving to San Francisco? Probably not. How much you can earn clearly depends on where you reside and the smaller salary can be a better option if you choose a city with a lower cost of living.
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