Should a recent college grad look for a job in the Bay Area or Texas?

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pax4235
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Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 2:37 am

Should a recent college grad (looking to go into medicine to become a doctor) look for a job in the Bay Area or Texas? I am asking for a friend.

Is it easier to find a job in Bay Area or Texas? Will the salary in the Bay Area be higher than Texas? If my friend is living with parents in Bay Area, would it be more worth it to stay in Bay Area and pay California taxes or move to Texas and pay no income tax? They will buy a condo for her in Texas but she is not sure if she will be better financially and have better job prospects looking in Bay Area or Texas.

Any advice is appreciated. Thank you.
Last edited by pax4235 on Wed Mar 14, 2018 11:37 am, edited 1 time in total.

northtexan
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by northtexan » Wed Mar 14, 2018 9:22 am

pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Should a recent college grad (looking to go into medicine) look for a job in the Bay Area or Texas? I am asking for a friend.

Is it easier to find a job in Bay Area or Texas? Will the salary in the Bay Area be higher than Texas? If my friend is living with parents in Bay Area, would it be more worth it to stay in Bay Area and pay California taxes or move to Texas and pay no income tax? They will buy a condo for her in Texas but she is not sure if she will be better financially and have better job prospects looking in Bay Area or Texas.

Any advice is appreciated. Thank you.
If they are looking to go into medicine, why not go to graduate school? There is not much that one can due in medicine to excel financially straight out of college.

I do not have any experience in California, but I do live in Texas and I am going into the medical field.
Texas has less taxes compared to California, so you have more take home money.
Certain parts of Texas are really growing, which will give rise to more jobs.
The cost of living in Texas is also significantly less than in California, so I have been told.
We are not suppose to talk politics here but that does play a big role in where some one chooses to live, it can determine the tax situation, job situation, and growth of the state which leads to better wages and future job prospects. The two states are almost opposites when it comes to how they are run and the people who run them.

For me, if I was in the same situation. I would move to Texas. I would love a paid for condo vs living with parents, or even a condo in California. I love paying no state income tax. Being in the medical field, depending on your job you can make over 100k. I will take as much money in pocket as possible.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Nowizard » Wed Mar 14, 2018 9:57 am

+1 for the concept Northtexan expresses. The interaction between income and personal preferences (Not limited to politics) is a crucial factor in overall satisfaction. A physician is quite likely to ultimately have adequate income wherever they reside. Though there will be more or less income in some areas compared to others, lifestyle considerations will eventually become the dominant factor for most.

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ThankYouJack
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by ThankYouJack » Wed Mar 14, 2018 10:00 am

A lot comes down to personal preference and confidence. It's like saying should a recent college grad eat an orange or apple. Depends on the person and what they feel like doing. California is obviously a premium, but so many people love living there and wouldn't want to live any place else. I've lived there and traveled there multiple times so can understand why.

I personally would be more excited with California, but have friends who live in Texas too and they enjoy it.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by TravelGeek » Wed Mar 14, 2018 10:15 am

pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Is it easier to find a job in Bay Area or Texas? Will the salary in the Bay Area be higher than Texas? If my friend is living with parents in Bay Area, would it be more worth it to stay in Bay Area and pay California taxes or move to Texas and pay no income tax? They will buy a condo for her in Texas but she is not sure if she will be better financially and have better job prospects looking in Bay Area or Texas.
I hear Texas is a big place. Probably things like cost of living, salaries and job opportunities vary significantly depending on where you are looking.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Glockenspiel » Wed Mar 14, 2018 10:17 am

Short answer: The salary will be higher in the Bay Area, but that may not translate to a better standard of living. The cost of living is insane in the Bay Area.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Jack FFR1846 » Wed Mar 14, 2018 10:21 am

Not enough information.

"He's looking to get into medicine". What's that mean? Is he a doctor who just completed fellowship? Is he a high school grad who likes watching Gray's anatomy? Does he have previous medical experience?

I have to think that if his goal is to live someplace other than the back seat of his 2003 Honda Civic, he wants to stay out of the Bay area. If he's done his Ortho fellowship and wants to join an existing practice, I don't think it really matters.
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by dknightd » Wed Mar 14, 2018 10:22 am

A recent grad should look for a job they want.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by EddyB » Wed Mar 14, 2018 10:27 am

Glockenspiel wrote:
Wed Mar 14, 2018 10:17 am
Short answer: The salary will be higher in the Bay Area, but that may not translate to a better standard of living. The cost of living is insane in the Bay Area.
Although the material standard of living isn’t the only factor in quality of life, and there are major differences, geographic and cultural, between the Bay Area and any place in Texas. Whether she sees it as temporary (e.g., before further education) or indefinite would probably be a factor, too.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Texanbybirth » Wed Mar 14, 2018 10:29 am

Tell your friend to come hang out on BH for a while and compare the number of threads begging for help in figuring out whether someone can afford a house/townhome/living place in (a) the Bay Area vs (b) Texas. :D

Joking aside, it's impossible to make this decision for someone else. Salary will probably be higher in the Bay Area, but my guess is that it will go much further in Texas. Of course, as travelgeek mentioned "Texas" makes no sense really, as it's such a big diverse place. Even where I live, Downtown/Uptown Dallas is a different style of living than suburban North Texas. I'm guessing this person will live in Dallas or Houston (both strong medical communities), which are fairly comparable as far as cost of living goes. I do hear that the Bay Area has fantastic weather, so if your friend isn't used to blazing hot summers they should definitely visit TX in August/September before they make a decision. It's a deal-breaker for many people.

Oh, and yeah the politics in the two places couldn't possibly be more different. However, I will say that the closer you get to a major metro area in TX, the more they probably converge. (I hope that's not too political to get my post deleted.)

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by mhalley » Wed Mar 14, 2018 10:54 am

Geographic arbitrage can make a huge difference in the overall wealth of an individual. Taxes in California are sky high, as is the cost of living. The loss of federal deduction of state taxes just made it even worse. In addition I understand that regulations are a huge pita for those that wish to open a small business. There are certainly many perks that can be obtained by living in CA, but TX also has a lot going for it.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by iamlucky13 » Wed Mar 14, 2018 10:56 am

My advice is find a job first, then move. I would not generally advise undertaking the expense of moving somewhere without a job waiting. Many, if not most companies hiring for jobs that require degrees are fine waiting a couple weeks for candidates with the skills they're looking for to make arrangements for housing and move. Depending on the field, they may even pay some of the moving expenses.

I also would not buy a home in an area without having at least a few months to decide if I like living in the area, like my job, and feel secure that the job has long term potential.

Since it sounds like she has a place to live in the Bay area, it can work out well to the search there, then once she has experience in her field, decide long term where she wants to live and seek jobs in that area. Living with family, if you're not dying to get out on your own, can really help you save up money for future plans or pay down student loans.

That's not to say I see anything wrong with looking for jobs in another region. I just am hesitant to move there until actually have a job offer in hand.

Regarding where she will be financially better off - it's not too hard to look up average costs of rent in different metro areas, or even to look up rental listings in specific neighborhoods she might be interested in due to proximity to job prospects or other reasons. It's a little bit harder to look up local wages - if I remember right, the Bureau of Labor Statistics doesn't have their data broken down geographically unless you really, really dig. However, third party sites like Payscale.com and Salary.com can provide pay estimates based on job field, experience, and location.

Likewise for taxes. Texas does have one of the lower overall tax burdens in the country, but we're talking about a couple percent of income. It's a non-trivial difference, but it shouldn't make or break her finances.
https://taxfoundation.org/state-and-loc ... oric-data/

With that information, your friend can compare potential incomes against a couple the major components of living expenses.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by jabberwockOG » Wed Mar 14, 2018 11:00 am

Between Texas and California, climate, culture, and politics are night and day different in most urban areas. These are way more important factors in achieving a happy fulfilling professional and social life than income and cost of living. While still working, we spent 10 years in Texas and made it work, but would never go back. Income tax is 0 but property tax on high end homes is very high.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Watty » Wed Mar 14, 2018 11:32 am

pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Should a recent college grad (looking to go into medicine)....
What does that mean? Being a lab technician is a lot different than being a doctor.
pax4235 wrote:
Wed Mar 14, 2018 2:37 am
If my friend is living with parents in Bay Area.....
The Bay Area is also a pretty diverse place.

A lot of it is gridlocked suburban sprawl with few of the real advantages of the Bay Area that people talk about except for being able to get to some of the interesting parts with an hour or two drive. Living in someplace like Milpitas is much different than a funky San Francisco neighborhood. Her parents are also unlikely to live in a location that is a good commute from wherever she ends up working or studying at.

There can be a lot of cultural and individual differences with adult kids living with their parents but she might want to plan, and budget for, living on her own even in the Bay Area.

I love my parents but when I was at that age if the only choice was between living with my parents of living in Texas then Texas would have been a hands down easy choice, and I don't really like Texas. :D
pax4235 wrote:
Wed Mar 14, 2018 2:37 am
They will buy a condo for her in Texas...
It would be best to rent for at least a year if she goes to Texas since she may want to change jobs and her next job could be on the other side of town. She may also decide that she would want to move back to California to be near her parents.
pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Will the salary in the Bay Area be higher than Texas?
Generally speaking it will be higher but not nearly enough to make up for the higher cost of living there. It was a long time ago but when I moved out of the Bay Area to a much lower cost of living area I did very well because of the lower cost of living.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 11:39 am

Watty wrote:
Wed Mar 14, 2018 11:32 am
pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Will the salary in the Bay Area be higher than Texas?
Generally speaking it will be higher but not nearly enough to make up for the higher cost of living there. It was a long time ago but when I moved out of the Bay Area to a much lower cost of living area I did very well because of the lower cost of living.
What if she decides to live with her parents in the Fremont area and only has to pay food? Will it be better financially for her to live and work in the Bay Area? The only highest expense I could think of is then the california state income taxes.
Last edited by pax4235 on Wed Mar 14, 2018 11:39 am, edited 1 time in total.

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Raymond
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Raymond » Wed Mar 14, 2018 11:39 am

I'd suggest your friend's parents hold off buying her a condo until she figures out what she wants to do.

And as mentioned before, what does "wants to go into medicine" mean? If she wants to become an MD, DO or something else, then why not go to school for that?

What was her undergraduate degree in?

We need more information.
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pax4235
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 11:40 am

Raymond wrote:
Wed Mar 14, 2018 11:39 am
I'd suggest your friend's parents hold off buying her a condo until she figures out what she wants to do.

And as mentioned before, what does "wants to go into medicine" mean? If she wants to become an MD, DO or something else, then why not go to school for that?

What was her undergraduate degree in?

We need more information.
She doesn't really have any recent health care experience and she changed her major a few times in college. She is looking to get more recent healthcare experience before applying. She is planning for MD.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by magicrat » Wed Mar 14, 2018 11:50 am

pax4235 wrote:
Wed Mar 14, 2018 11:40 am
Raymond wrote:
Wed Mar 14, 2018 11:39 am
I'd suggest your friend's parents hold off buying her a condo until she figures out what she wants to do.

And as mentioned before, what does "wants to go into medicine" mean? If she wants to become an MD, DO or something else, then why not go to school for that?

What was her undergraduate degree in?

We need more information.
She doesn't really have any recent health care experience and she changed her major a few times in college. She is looking to get more recent healthcare experience before applying. She is planning for MD.
If she were my friend I'd advise her to take control of her life and decisions and do the research on her own instead of relying on friends and her parents to do it for her, but that's just me.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by deikel » Wed Mar 14, 2018 12:11 pm

All other things being similar, a recent graduate should do whatever is best for his/her career in the coming decade.

In this case, whatever provides the best learning experience in medicine independent of cost of living, salary, locality or tax considerations.
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Pajamas » Wed Mar 14, 2018 12:24 pm

pax4235 wrote:
Wed Mar 14, 2018 2:37 am
Should a recent college grad (looking to go into medicine to become a doctor) look for a job in the Bay Area or Texas? I am asking for a friend.

Is it easier to find a job in Bay Area or Texas? Will the salary in the Bay Area be higher than Texas? If my friend is living with parents in Bay Area, would it be more worth it to stay in Bay Area and pay California taxes or move to Texas and pay no income tax? They will buy a condo for her in Texas but she is not sure if she will be better financially and have better job prospects looking in Bay Area or Texas.

Any advice is appreciated. Thank you.
She shouldn't limit herself to looking at just one or two areas of the country but should find the best job she can and move to wherever it is. She also shouldn't buy or allow her parents to buy any dwelling for her until she has settled down.

If she wants to go to medical school she should make that her priority over a job or location, though.

Judging from the limited information you have provided, I would recommend that she continue to live with her parents and start applying for medical school or doing whatever she needs to do to prepare to apply to medical school.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by mhalley » Wed Mar 14, 2018 12:59 pm

If looking for an md degree, then state might make a difference in how much debt she will accrue. I have no idea of the cost of med school in TX VS CA. But that might make a difference. This site compares different med schools. Looks like TX is cheaper.
http://medical-schools.startclass.com/

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Big Dog » Wed Mar 14, 2018 1:11 pm

for a MD wannabe, Texas is a no-brainer, to obtain residency. The instate med schools are excellent, at great prices, and easier to get into (with residency).

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by mervinj7 » Wed Mar 14, 2018 1:32 pm

northtexan wrote:
Wed Mar 14, 2018 9:22 am
We are not suppose to talk politics here but that does play a big role in where some one chooses to live, it can determine the tax situation, job situation, and growth of the state which leads to better wages and future job prospects. The two states are almost opposites when it comes to how they are run and the people who run them.
So by that standard, should they pick the state that's growing faster (for now)? :P
https://www.houstonchronicle.com/busine ... 202452.php
http://www.politifact.com/california/st ... ter-texas/
https://www.bloomberg.com/view/articles ... from-trump

Silly rivalries aside, for a recent grad who plans on going to graduate school, her first priority should be getting into med school. Jobs, salary, states are all secondary concerns since they will all be transitional. The better questions to ask are what are her eventual goals and what steps would she need to take to achieve them?

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by goodenyou » Wed Mar 14, 2018 1:40 pm

Glockenspiel wrote:
Wed Mar 14, 2018 10:17 am
Short answer: The salary will be higher in the Bay Area, but that may not translate to a better standard of living. The cost of living is insane in the Bay Area.
This is incorrect. Many of the salaries and income opportunities in medicine will be much higher in Texas. Geographic arbitrage is alive and well in low-cost areas of Texas. Anything labeled a "Sportman's Paradise" and peddled by Merritt-Hawkin's Physician Search Firm in Texas will get you big bucks. I still don't understand the nature of the question. A college grad looking for a job in medicine who hasn't gone to medical school or finished a residency? Or just a job in general?
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 2:16 pm

goodenyou wrote:
Wed Mar 14, 2018 1:40 pm
Glockenspiel wrote:
Wed Mar 14, 2018 10:17 am
Short answer: The salary will be higher in the Bay Area, but that may not translate to a better standard of living. The cost of living is insane in the Bay Area.
This is incorrect. Many of the salaries and income opportunities in medicine will be much higher in Texas. Geographic arbitrage is alive and well in low-cost areas of Texas. Anything labeled a "Sportman's Paradise" and peddled by Merritt-Hawkin's Physician Search Firm in Texas will get you big bucks. I still don't understand the nature of the question. A college grad looking for a job in medicine who hasn't gone to medical school or finished a residency? Or just a job in general?
Why would the salaries be higher in Texas for a recent college grad trying to get a job at a hospital? What jobs would have higher salaries than in the Bay Area?

Again, my friend needs hospital/healthcare work/volunteer experience to apply and get accepted into medical school. So she is looking to work at least 1 or 2 years to gain that healthcare experience to apply. Volunteering for 4 months and applying and stating your "passion" probably wouldn't cut it.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by JBTX » Wed Mar 14, 2018 3:46 pm

The job market overall is very good in TX. I read recently perhaps the best in the nation.

Some people want to live in CA, for its natural beauty, climate, geography, features, etc. If those are not that important to you then TX is probably much more affordable and a better standard of living.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by sunny_socal » Wed Mar 14, 2018 3:57 pm

California is a trap. They get you with the high income, they keep you with the high cost of living (ie. must keep making more to get by.)
- Gas costs at least $1/gallon more than elsewhere. Drive to AZ or NV, it's a dollar less. Supposedly those taxes are all going for some good cause (eg. roads), but then you'll notice something else - the roads are also better as soon as you cross the state line! CA roads are horrible.
- Auto registration is high. We'll probably pay $1200 this year for our vehicles (me, wife, kids.) You must pay again every year.
- Housing cost is high. The weather is great so people are willing to pay it.
- California schools aren't very good, so you'll likely be looking at alternatives if you care about your kids: Private school!
- Can't deduct HSA contributions from your CA state taxes

I vote for Texas. If I get laid off, TX is the first place I'll be looking for my next job.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Meg77 » Wed Mar 14, 2018 4:06 pm

News just came out this week that San Francisco lost the largest number of residents than any other city in the fourth quarter of last year, 24% more than the second city, NYC. https://www.msn.com/en-us/lifestyle/sma ... vp-BBJUjqo Many cities in Texas, on the other hand, are some of the fastest growing in the country.

The cost of living in the bay area is among the highest in the nation, particularly with regard to housing. The tax burden is also among the highest. Even the successful tech entrepreneurs are starting to fantasize about leaving. https://www.nytimes.com/2018/03/04/tech ... dwest.html

Now if your friend has family in SanFran, that may be a big point in that area's favor. But financially speaking, without taking into account any other variables, Texas wins HANDS DOWN. This is particularly true if you're in a field that doesn't "need" to be in the bay area, like tech. Doctors don't necessarily make that much more in HCOL areas. In fact, many physicians are paid more if they are willing to go into rural areas of need.

I ran this analysis carefully myself, by the way, when my husband wanted us to relocate from Dallas to San Francisco. Even if we both got 30% raises and became renters versus owners and sold both our cars, we'd have less take home pay (due primarily to the taxes but also to our housing costs increasing moderately). And no way our home would be as nice. And entertainment dining would cost MORE even though our net pay would be LESS. No thanks.
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Dottie57 » Wed Mar 14, 2018 4:15 pm

Meg77 wrote:
Wed Mar 14, 2018 4:06 pm
News just came out this week that San Francisco lost the largest number of residents than any other city in the fourth quarter of last year, 24% more than the second city, NYC. https://www.msn.com/en-us/lifestyle/sma ... vp-BBJUjqo Many cities in Texas, on the other hand, are some of the fastest growing in the country.

The cost of living in the bay area is among the highest in the nation, particularly with regard to housing. The tax burden is also among the highest. Even the successful tech entrepreneurs are starting to fantasize about leaving. https://www.nytimes.com/2018/03/04/tech ... dwest.html

Now if your friend has family in SanFran, that may be a big point in that area's favor. But financially speaking, without taking into account any other variables, Texas wins HANDS DOWN. This is particularly true if you're in a field that doesn't "need" to be in the bay area, like tech. Doctors don't necessarily make that much more in HCOL areas. In fact, many physicians are paid more if they are willing to go into rural areas of need.

I ran this analysis carefully myself, by the way, when my husband wanted us to relocate from Dallas to San Francisco. Even if we both got 30% raises and became renters versus owners and sold both our cars, we'd have less take home pay (due primarily to the taxes but also to our housing costs increasing moderately). And no way our home would be as nice. And entertainment dining would cost MORE even though our net pay would be LESS. No thanks.
I wouldn't say Texas wins hands down, Weather is hot, political envy may not suit, lack of friends and family in area may not suit. The total environment environment needs to be looked at.

I think person in question is person to be asking questions.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Ron Ronnerson » Wed Mar 14, 2018 9:09 pm

Dottie57 wrote:
Wed Mar 14, 2018 4:15 pm
Meg77 wrote:
Wed Mar 14, 2018 4:06 pm
News just came out this week that San Francisco lost the largest number of residents than any other city in the fourth quarter of last year, 24% more than the second city, NYC. https://www.msn.com/en-us/lifestyle/sma ... vp-BBJUjqo Many cities in Texas, on the other hand, are some of the fastest growing in the country.

The cost of living in the bay area is among the highest in the nation, particularly with regard to housing. The tax burden is also among the highest. Even the successful tech entrepreneurs are starting to fantasize about leaving. https://www.nytimes.com/2018/03/04/tech ... dwest.html

Now if your friend has family in SanFran, that may be a big point in that area's favor. But financially speaking, without taking into account any other variables, Texas wins HANDS DOWN. This is particularly true if you're in a field that doesn't "need" to be in the bay area, like tech. Doctors don't necessarily make that much more in HCOL areas. In fact, many physicians are paid more if they are willing to go into rural areas of need.

I ran this analysis carefully myself, by the way, when my husband wanted us to relocate from Dallas to San Francisco. Even if we both got 30% raises and became renters versus owners and sold both our cars, we'd have less take home pay (due primarily to the taxes but also to our housing costs increasing moderately). And no way our home would be as nice. And entertainment dining would cost MORE even though our net pay would be LESS. No thanks.
I wouldn't say Texas wins hands down, Weather is hot, political envy may not suit, lack of friends and family in area may not suit. The total environment environment needs to be looked at.

I think person in question is person to be asking questions.
This is a really good point. On a board like this, it is understandable that the focus is on the financial aspects. However, there are other factors which are also important. Does the individual want to move and start life elsewhere? Does she want to remain close to family? Are there personal preferences related to climate, culture, politics, etc.?

Having family close by is a very personal decision as well. We’re in our 40s and chose to live near family. My mother is getting older so it’s helpful to be within a few minutes of where she lives. Our daughter (an only child) lives right next door to three cousins, two of whom are near her age. My in-laws are 15 minutes away and my mother-in-law often watches our daughter and this has considerably reduced child care costs. The best part of the arrangement, though, is that our daughter has an incredible bond with grandma. Similarly, my sister and I have remained close as a result of being neighbors. How much is this sort of arrangement worth? Everyone will answer this differently. Some may dread a set up like this. Personally, I think it’s priceless.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Kow » Wed Mar 14, 2018 9:24 pm

Texas, specifically Dallas fort Worth area is the safe choice. The job market is growing and you can afford with mid level jobs to have a house and savings if that's the goaL.

San Fran will be immensely more difficult to get by. But if you want to be in an industry focused in that area then it may make sense. Just prepare to live a different lifestyle. Pay differences do not make up for cost of living differences.

pejp
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pejp » Wed Mar 14, 2018 9:36 pm

Bay Area, because if you take a job in Texas that usually means you have to live in Texas.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 9:59 pm

Thanks for all of your replies. :happy

Okay basically staying at home with parents in Bay Area and getting a job in Bay Area is better financially than getting a job in Texas (and paying rent)?

Let's assume that all other variables are equal.

I would like to just look at salary/income, benefits, job availability/opportunity/competition, potential to get a job related to the medical field (for MD applications), state taxes, expenses (given the above).

I want to know if my friend (with bachelor's from a top university in sciences) can earn + save more money (after all taxes and expenses) in Bay Area than in Texas given that she lived for free (except food) in the Bay area but rented (and paid food) in Texas.

Free place to live in Bay Area + job is no brainer than Texas rent + job right? I just want to know if the California state income taxes, job opportunity/competition, or any other living expenses would make a difference between the two states.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by LadyGeek » Wed Mar 14, 2018 10:06 pm

This thread is now in the Personal Finance (Not Investing) forum (career guidance).
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by pax4235 » Wed Mar 14, 2018 10:09 pm

LadyGeek wrote:
Wed Mar 14, 2018 10:06 pm
This thread is now in the Personal Finance (Not Investing) forum (career guidance).
Thank you, LadyGeek, for approving my request

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Afty » Wed Mar 14, 2018 10:15 pm

I think your friend should prioritize getting into medical school over financial considerations at this point. Does she need to take premed courses? MCAT? Would she be able to get a job as a research assistant somewhere? She is behind the ball compared to all the premed students who have been preparing for years to apply to medical school, and she will have to work very hard to compete with them. If she really wants to do it, she’s going to have to move to wherever the best opportunities present themselves.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by a5ehren » Thu Mar 15, 2018 9:53 am

Yeah...I can't think of any "good" medical jobs that a 4-year BS would qualify one for that would look good on a Med School application. She can go do lab-tech grunt work, I guess?

But that probably won't mean as much as a good MCAT score and her college GPA.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by quantAndHold » Thu Mar 15, 2018 11:45 am

If she’s planning on med school, she should live where she gets accepted to medical school. She will probably move several times before she settles into her career, so where she lives now doesn’t matter.

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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Meg77 » Thu Mar 15, 2018 1:21 pm

Dottie57 wrote:
Wed Mar 14, 2018 4:15 pm
Meg77 wrote:
Wed Mar 14, 2018 4:06 pm
News just came out this week that San Francisco lost the largest number of residents than any other city in the fourth quarter of last year, 24% more than the second city, NYC. https://www.msn.com/en-us/lifestyle/sma ... vp-BBJUjqo Many cities in Texas, on the other hand, are some of the fastest growing in the country.

The cost of living in the bay area is among the highest in the nation, particularly with regard to housing. The tax burden is also among the highest. Even the successful tech entrepreneurs are starting to fantasize about leaving. https://www.nytimes.com/2018/03/04/tech ... dwest.html

Now if your friend has family in SanFran, that may be a big point in that area's favor. But financially speaking, without taking into account any other variables, Texas wins HANDS DOWN. This is particularly true if you're in a field that doesn't "need" to be in the bay area, like tech. Doctors don't necessarily make that much more in HCOL areas. In fact, many physicians are paid more if they are willing to go into rural areas of need.

I ran this analysis carefully myself, by the way, when my husband wanted us to relocate from Dallas to San Francisco. Even if we both got 30% raises and became renters versus owners and sold both our cars, we'd have less take home pay (due primarily to the taxes but also to our housing costs increasing moderately). And no way our home would be as nice. And entertainment dining would cost MORE even though our net pay would be LESS. No thanks.
I wouldn't say Texas wins hands down, Weather is hot, political envy may not suit, lack of friends and family in area may not suit. The total environment environment needs to be looked at.

I think person in question is person to be asking questions.
I said "financially speaking, without taking into account any other variables, Texas wins hands down." Obviously there are reasons to live in the Bay Area, which is why so many people do. But the OP was questioning the financial benefits.
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Re: Should a recent college grad look for a job in the Bay Area or Texas?

Post by Dottie57 » Thu Mar 15, 2018 1:35 pm

Meg77 wrote:
Thu Mar 15, 2018 1:21 pm
Dottie57 wrote:
Wed Mar 14, 2018 4:15 pm
Meg77 wrote:
Wed Mar 14, 2018 4:06 pm
News just came out this week that San Francisco lost the largest number of residents than any other city in the fourth quarter of last year, 24% more than the second city, NYC. https://www.msn.com/en-us/lifestyle/sma ... vp-BBJUjqo Many cities in Texas, on the other hand, are some of the fastest growing in the country.

The cost of living in the bay area is among the highest in the nation, particularly with regard to housing. The tax burden is also among the highest. Even the successful tech entrepreneurs are starting to fantasize about leaving. https://www.nytimes.com/2018/03/04/tech ... dwest.html

Now if your friend has family in SanFran, that may be a big point in that area's favor. But financially speaking, without taking into account any other variables, Texas wins HANDS DOWN. This is particularly true if you're in a field that doesn't "need" to be in the bay area, like tech. Doctors don't necessarily make that much more in HCOL areas. In fact, many physicians are paid more if they are willing to go into rural areas of need.

I ran this analysis carefully myself, by the way, when my husband wanted us to relocate from Dallas to San Francisco. Even if we both got 30% raises and became renters versus owners and sold both our cars, we'd have less take home pay (due primarily to the taxes but also to our housing costs increasing moderately). And no way our home would be as nice. And entertainment dining would cost MORE even though our net pay would be LESS. No thanks.
I wouldn't say Texas wins hands down, Weather is hot, political envy may not suit, lack of friends and family in area may not suit. The total environment environment needs to be looked at.

I think person in question is person to be asking questions.
I said "financially speaking, without taking into account any other variables, Texas wins hands down." Obviously there are reasons to live in the Bay Area, which is why so many people do. But the OP was questioning the financial benefits.

Ok. Fine by me. I thought it would be fine to point out other areas to look at. Guess not.

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