Stanford College Grads Salaries supports house prices
Google, Facebook Battle For Computer Science Grads. Salaries Soar.
Google and Facebook are fighting hard to hire this years crop of computer science graduates, we’ve heard, and ground zero is Stanford. Most of the class of 2008 already have job offers even though graduation is months away.Last year, salaries of up to $70,000 were common for the best students. This year, Facebook is said to be offering $92,000, and Google has increased some offers to $95,000 to get their share of graduates. Students with a Masters degree in Computer Science are being offered as much as $130,000 for associate product manager jobs at Google.
Thanks Google! Thanks FaceBook!
January 31st, 2008 at 10:21 am
A salary of $100K going to elite workers supports a house price of like $400K? Uh oh, maybe we do have a problem around here.
January 31st, 2008 at 10:26 am
This is great information to know - Thank you.
I plan to unload one maybe two of my rentals in Mountain View area soon (I’ll wait long enough for the current crop of desperate politicians seeking elected office to get on their knees with ’special tax relief’ programs to start their stalled economy -sure to be dead by summer).
With any luck, this time I will be able to fully retire with the gains. I smell a lot of suckers with Fat Brains and thick wallets there for the taking.
A little granite here, a little designer there maybe some candles and soft lighting and a properly placed ad at one of the wunder companies and voila’ another sucker signing up for 30 years of big debt. Heck, I’ll even be a nice guy and carry some paper if possible. They might as well pay me twice -an inflated price and more interest income.
I may even get me a mail order bride so I can take the $500k exclusion instead of $250K. That’s what I call a REAL twofer…
America, is this a Great Country or What?
Don’t you wish you could vote for Bush again?
January 31st, 2008 at 10:28 am
>>A salary of $100K going to elite workers supports a house price of like $400K? Uh oh, maybe we do have a problem around here.
Well that’s just starting salary. Each year you get a bump right? So after 8 years you’re making at least $200k. Then you marry your college sweetheart and suddenly you’re making $400k.
Also, the 4x rule is old - in CA it’s ok to have 5x-6x.
That’s $2mil easily.
January 31st, 2008 at 10:49 am
Well, isn’t that nice? If their grandfather was in the right social class to propel their father into the right social class, then their father propels them into Snodfart.
Here’s to the American meritocracy! Once upon a time that term was not a joke!
January 31st, 2008 at 11:41 am
I can tell you that the non-Stanford grads, which make up about 99% of the actual Silly-con Valley workforce, make nowhere NEAR that amount of money.
salary.com is a great way to gauge the actual salary structure for common positions held in the valley. Most people are often surprised that the salaries are not as inflated as most think. In general, people in the Bay Area make around 25-30% more on a salary basis than the average for the country. Which of course, does not justify the fact that our median home price is more than three times the national average. But hey, moot point. It’s the Bay Area and we are “special”.
January 31st, 2008 at 12:17 pm
Damn, I went to the wrong school! My Bachelor of Science still gets me nowhere near that kind of money… I can barely afford my one bedroom apartment, and they’re buying $400k houses! Don’t they have student loan debt too?
January 31st, 2008 at 12:18 pm
I was left behind in the bubble, and I’m rooting for prices to come back to reality, but I’ve got to say, “ex-sunnyvale-renter” is a sad, sad, little man.
Seriously. Turn off the computer, go out into the sunlight. Breathe some fresh air. Enhance your calm.
January 31st, 2008 at 2:25 pm
Too bad, so sad, Google’s shares fell 9 percent in after hours Thursday to $514.34, down $49.96.
If it keeps plummeting maybe we’ll be able to buy in Mountain View after all.
….
Probably not.
January 31st, 2008 at 2:39 pm
auuu…poor GOOG all those new hires get their 1st taste of options that are underwater. Maybe that rent increase this year will mean something now.
January 31st, 2008 at 2:51 pm
Eh, Some Guy ….. I’m on a bit of a hiatus from the BA but I am pretty much looking at coming back there, and will make what the techies supposedly make, and get a lot more fresh air than you!
You have a point today though, it’s a very sunny day, maybe I should go snuggle some horses. Goodness knows we have those around here and they loooooove attention.
January 31st, 2008 at 3:51 pm
Interesting story about wages. After my biotech engineering/chemistry PhD degree I got a few years back I was looking for work. Being originally from Nor-Cal(TM) I looked to return. Salaries in the South San Fran area and the Bay in general where almost double that in the rest of the country. Then you start to do the housing/car/insurance cramped in a foggy hell with a bunch of people math and it really works out that I would be making less to live in a cold, polluted, ugly place. Hell, for 2/3 of what I would have started at in the bay I got a house close to work that I walk to. I got world class out door activities in my back yard and I really don’t have to drive anywhere. At one point I kept the same tank of gas in my car for nearly two months! So my point is this, sure you will make more money in the Bay, but you’ll spend way more. Is it worth it? To spend 1 mil on a piece of crap house? I mean, it isn’t New York or Boston or many other cities that have alot going on, its Campbell, Redwood City, and Los Gatos! It is just instane! I’m done ranting.
January 31st, 2008 at 4:10 pm
I mean, it isn’t New York or Boston or many other cities that have alot go ing on, its Campbell, Redwood City, and Los Gatos!
But there’s no startup scene, no Golden Gate bridge, and no Fry’s in New York or Boston or many other cities.
January 31st, 2008 at 4:57 pm
Dang, I forgot about Fry’s. Well, I guess that makes everything about even.
January 31st, 2008 at 7:46 pm
GOOG is headed downhill. Wait until their earnings come out. I think someone must have a wiff of what is up, since the price has dropped so quickly.
By the end of the year, it will be below $200.
January 31st, 2008 at 9:12 pm
Speaking as a hiring manager, I can tell you no EE/CS grad from Stanford/Cal/MIT will accept a $70K salary.
January 31st, 2008 at 9:19 pm
JesusCrispy:
>>Hell, for 2/3 of what I would have started at in the bay I got a house close to work that I walk to.
What? No business trips? No hotel points? No airline mileage? Couch potato jobs are no fun!
February 1st, 2008 at 11:15 am
At the height of the Dot-Com craze, we were hiring undergrads for $90k, right out of school.
Good to see we’ve almost come back up there, at a couple of unusual companies.
Of course, gas cost $1.70 around then, and milk was $2/gallon.
Oops, guess we’re not really back up to those highs after all.
February 1st, 2008 at 3:36 pm
Selling advertising has always been a lucrative business, and Google is certainly the king of selling advertising.
If I were Google I would get down on my knees every day and thank Christ that Wikipedia exists. With Wikipedia, Google no longer has to bother making their searches return relevant results; people looking for general information on a subject can just go to Wikipedia.
February 8th, 2008 at 3:28 pm
Gee, my husband was offered $96,000 without a degree while still going to De Anza.
March 22nd, 2008 at 12:19 am
I think in general the packages for CS students are high in the US : I myself am finishing my undergrad degree (in a top school in Asia) in CS in a month and have an offer from one of the the big 3 software companies (at an office in N America) with a first year cash compensation that’s in 6 figures USD (excluding the stock and annual bonus).
March 23rd, 2008 at 5:56 am
[...] grads make $100k + bonus and stock Stanford College Grads Salaries supports house prices Undergrad Says: March 22nd, 2008 at 12:19 [...]
March 24th, 2008 at 9:47 am
JesusCrispy Says:
January 31st, 2008 at 3:51 pm
Hell, for 2/3 of what I would have started at in the bay I got a house close to work that I walk to. I got world class out door activities in my back yard and I really don’t have to drive anywhere.
Hmm, you can get all that for free… at San Quentin - walk to work, lots of outdoor activities, never drive anywhere.
Jim D Says:
February 1st, 2008 at 11:15 am
Of course, gas cost $1.70 around then, and milk was $2/gallon.
I have to laugh everytime I hear the price of milk cited as an indication of increasing cost of living. Gas, I sort of understand since people use like 40gal a month. But milk? How much milk are they drinking that $4/gal is straining their budget?