You're living in a dream world if you think $600K household is the norm in Silicon valley, even for FAANG employees. We are talking about a small percentage of employees (1. those with FAANG spouses) out of a small percentage of employees (2. top leveled, say Google L6+) out of a small percentage of employees (3. engineers) out of a small percentage of companies (4. FAANG). The rest of us, who are not 1 AND 2 AND 3 AND 4, schlep away at normal compensations and there's no way we're buying $2M homes.
> You're living in a dream world if you think $600K household is the norm in Silicon valley, even for FAANG employees.
For married couples above 30 with one high TC earner - it's extremely common. You're not marrying a barista in SF if you work at FAANG. I haven't met anyone who is married, above 30, who also works at FAANG, the spouse can legally work in the country, and the household income is below $500K. I know that seems like a lot of qualifiers but basically a married couple that both have working abilities - if one is at FAANG, the other is likely at FAANG or similar (or a doctor or a lawyer or an executive or whatever - very common).
I'd have to really stretch to find anyone who I've met with high TC that isn't also married to another with high TC (besides SAHM/SAHD - where the one earner is usually an exec, so homes are still not too expensive for them).
I'm not talking about non-FAANG employees btw. If you work somewhere that doesn't pay well - then ok. You have to suffer like every other American does. I'm saying that if you work at FAANG - it's a bullshit excuse to commute an hour each way. (I mean - FFS - a lot of them have shuttles where you can clock in on even if you do live further away) It's a choice at that point. They pay you a lot so you can be close to their campus. High earners typically marry high earners. It's financial suicide to do otherwise. (Bye-bye 1/3 of your income for 18 years when you inevitably get divorced)
> I haven't met anyone who is married, above 30, who also works at FAANG, the spouse can legally work in the country, and the household income is below $500K.
You may have a very limited circle of folks you talk to and are willing to share such details with you. Myself and a number of close friends do not have a $500k TC household as married couples. Not even close.
> It's financial suicide to do otherwise. (Bye-bye 1/3 of your income for 18 years when you inevitably get divorced)
Maybe I misunderstood you but you're saying you should marry someone who earns similarly to you because of the inevitable divorce? I'm not sure I follow, you're advocating to marry for the financial prospects first because marriages end in divorce?
And you’re at FAANG? If you have 10+ YOE, there is no reason you shouldn’t be ~70% of the way there as a single earner.
I’ve seen enough people have their marriages end and have insanely high and long term alimony payments even after the other partner has moved on and pseudo-married someone else. (But hasn’t legally married them because then they don’t get their alimony) Until marriage is treated like a business contract where consequences are agreed to before signing, it’s a terrible idea to marry someone in a lopsided financial situation unless you don’t care about any kind of risk. You’d never be able to get/afford insurance for such an incredibly risky venture.
Half of that TC goes to taxes, then there is childcare, rent, etc while saving. The home is doable but you’re not going to have a competitive offer unless you’ve been saving for a few years assuming you have no debt.
The point is.. going into work is a waste of time most of the time. That’s why a lot of companies are doing flex schedules now.
