With housing prices at a record high, high state income and property taxes. Intel's salary and depressing bonuses and stocks are not what they used to be. On top of that people are treated horribly while the technology is stagnant. Then why would people work for Intel? Path to green card? Free coffee? West coast weather? Why?
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People working hard at Intel will be the first one to go. Do like me, kiss a-- and work part time for full time salary lol.
...I work there for a paycheck?
I know. Sounds absolutely shocking.
Intel has supported my livelihood for years and years.
I'm not going to be a complete ungrateful git and ignore all that. Unlike you.
Good point @1pac. But my advice to live below your means and save as much as you can is still valid for most everyone.
-1yuw
@1yuw you worked through better times when things were more accessible including lower paying jobs. Nowadays it is very different and difficult for the next generation.
@1bht. (Admin here, not highly paid engineer or VP), I paid off my house early, saved the max in my 401K, and retired early.
it can be done at all levels if people focus on what's important (to me it wasn't working anywhere near my full retirement age) Save and spend below your means. I sure as heck didn't want to hit my full retirement age to roll around and for me to think. 'hmmm... I don't have nearly enough saved to ever retire'. I know people like that in their late 50s, early 60s, that never planned on how to retire. It's as if it caught them by surprise. Their "Golden years" likely ended up like a "Lead balloon".
@1nek @1bht easy to say when housing, health care and college tuition have increased exponentially over the years. While salaries at most are adjusted to inflation. It is not a fair comparison. A person making $150K in the Silicon Valley can buy a house for 1M or 1.5M. Even a condo at 500K seems disproportionate.
-1cxg. Well, it depends on opportunity cost of working at home at intel versus working else. If say intel is paying 25% less than a comparable company, then the question you nee to ask is the time you spend not working at intel, are you making 25% in extra income doing something else.
For me, I don't bother to kill myself working overtime just so I can get the biggest raises. We're talking a difference between maybe 5-6% if you are a superstar or 3-4% if you are a decent performer. that 2% difference is like an extra 3-4 cups of starbucks coffee every week, especially after you pay W2 taxes on it. I'd rather spend my extra time researching cash flowing properties, undervalued dividend stocks,etc. Thats' why despite me having a lower title than most of the managers, my net worth is much more then them. For instance, I'm not the one complaining how my mortgage payments are too high, how I can't afford to send my kids to college, like they are. My houses are paid off, my kid's college savings accounts are all fully funded at $200k total, so they don't need to deal with taking on student loan debt. But the managers that complain drive very nice cars that are leased!!!
A lot of you whiners are exactly what's wrong with America these days. You can't manage your own money, you take things for granted when times are good, you spend up the nose the moment you have a single paycheck, so long as you can make the minimum monthly payment, you don't bother to stay current in a technological field, and then when your employer has problems, needs to cost cost, wants to make fatter margins, you get all bent out of shape and blame all your problems on someone else. When was the last time you looked at yourself in the mirror, and realized that at least you are partly to blame for the crappy financial predicament you are in. You waited, and waited. and didn't have a financial plan. And now that you need to count on years of financial plan, self improvement, because you didn't do any of it, you're up shiit's creek without a paddle.
When times were good at intel, what were you doing with all the money you were bringing in anyway? Did you do the typical bonehead move like most Americans and spend almost everything you made? Did you invest, did you save? Did you save for a downpayment for a house so at least you can fix your housing costs?
If not, who's fault was that? Certainly not intel. So a lot of people make a heck of lot more money than you do (C-suite). They don't owe you a job. You're lucky to have been employed by them to begin with, and throughout the years had the chance to build your own net worth and your own pile of money.
But you didn't, did you? You didn't think about well "shiit, maybe one day these good times will end just like a drunken party, and that I actually need to save some booze for the next party". But you didn't did you?
Oh please. If you get laid off from Intel, go find one of those many available jobs in the Bay Area. Plenty of them. If you can't find a job in the bay area, there's something seriously wrong with your skillset.
@1jcz yes, those entitled people are called business executives
@1wav 150k put in Oregon is not the same as in Santa Clara. H1Bs create supply so a decrease in market prices (salaries) affecting your first point. Talking 101....go back and read
RCG and pay, anyone of you trollies take Econ101 or never made it out of Econ1, LOL.
Called supply / demand curve, where they intersect is the "market rate"
Now if you are very desirable candidate and you have a desperate company chasing you maybe you get a few percent more, maybe another few thousand signing bonus, or something, But the larger average salary is well know by all the hiring companies for PhD from tier1 schools. No company will pay "more" they pay the minimum they can go get the candidate.
In the end H1B or not the pay is very similar whether you are a US citizen, URM, or Indian/Chinese male, the last two will be last to be hired even if they are the best candidate as BK has his numbers and Intel hiring managers across the board are trying to hit them
Newsflash. A corporation doesn't owe you shiit.
If you don't like it, GTFO and go find another job. If you can't, that story problem.
Damn people in this country have an entitlement problem
@beg RCGs are not paid market rate. Did RCGs salaries increased as much as housing and rent. Absolutely not!
You guys b--ching about pay as if this is specific to Intel. Its not. Salary in general never keeps up with cost of living. If you haven't lesrned this 3 years after you first started.working, you are a moron.
Salaried paychecks are taxed the worst, and increases the least. Especially if you go over $200k, you get hit with AMT, medicare tax surcharge etc. Id you win the stock options. Lottery, half goes to taxes. That's why I never understood why so many Americans remain so co dependent on a W2 paycheck.
I learned early on to save as much money as I can on my W2 and to invest it as much as I can, whether it's buying myself a house even if meant first living frugally and brown baging my lunch. Etc.
Now I own my houses free and clear. And then when I had more.money, invested.it onto high quality dividend stock that gets taxed only.at 15%, or munis that are tax free. Or rentals that are tax deferred indefinitely.
But oh no. Some of you dumbazzes in this country spend your paycheck on that nice German car that depreciates 50% within 3 years while renting house... and then when sheet hits the fan, you are like whoa as me, I can't afford , my rent I cant afford my nice German car payments. Dumbazzes
Starting pay for RCG is going market rate, but once in if you aren't one to get O/E and promos with double digit raises then a life of S/3 will leave you living on 3% a year barely keeping pace with inflation.
Now if you are the top 10-15% at the front great, but if not it will s--- given that Intel isn't growing, stock won't make you rich and those that don't advance are subject for targeted ISP and VSP like they did in ACT
If you are good and you got laid off with a $150k comp package in the bay area, you wouldnt be unemployed and complaining, period. You would have found another company that at.least.laid you the same if not more.
You are a greedy bastard if you complain about making only $150k, regardless of years of experience. Others who have been laid off would die for that.
And with 30 years loan at a ridiculously low 3.5% and as low as 3.25%, in many cases your .mortgage payment is equal to your what would be your rent. Even less once you itemize your 1040. Not to mention your living costs is fixed for the next 30 years while those that rent have to out up with your landlords annual 4-6% increase. Not to mention any capital gains from he sale of your primary ends up being tax free up to $250k($500k joint). Yes people the tax laws heavily favors homeowners. Its been like this for several decades. Especially in CA, where Prop 13 puts a cap on your property taxes so long as you pass it along in your family.
-xva. You don't buy high end to rent out you moron. And so long as monthly mortgage payment about equals monthly rent payment (even before the extra tax break of being able to deduct your mortgage interest and property taxes on an itemized 1040), you would be stupid not to buy...unless you can't come up with the 20% down payment.
If you can't pull in at least $200k total comp with about 6-8years of experience in the bay area, you s--- at what you do and you aren't at the top of your game, and you are better off leaving. You won't make it.That should be your ruler for measurement.
Goddamn stupid android word completion. Excuse the fat fingering on the previous post. I rarely reread what it type.
$150k total comp in bay area is crap. $150k base salary was how much I was making at a startup with just 4 years of experience. I won't even go into the stock option grants. I no longer love on the bay area, and my comp is $175k base, and I only have a BSEE. Then again, I switched over to purr software. I have friends that simple do ruby on rails and they make around what I make.
Intel does not care as there are plenty of H1Bs that will take your job.
@J7RqeAL-vyt you watch when houses in Bethany and Hillsboro how many are Intel and who is feeling bullish buying or tradeing up. The market is at a peak and anyone who thinks the stock is going higher and wants to get some slum income is in for a rude surprise. The high end already has gone cold, and soon the middle and entry for RCG will to.
The housing market boom in Portland has never been based on intel.
BS. Avg engr in Intel SC (grade 7-8) is making total comp of over $150k+ for many years now. Having worked for other high tech Bay Area companies, this is way above average.
Well the harsh reality is housing is only unaffordable to the unlucky ones. The lucky ones seem to have no problem buying a house and in many cases more than one, so others have to pay them rent. The easiestway to make $2million...is to start with $1.5million...The rich keep getting richer.
People in Santa Clara never did well just on salary alone..its always been stock options. Its been like this for 3 decades. In fact, the only people who work for companies like Intel or Cisco or HP are all the burnt out old engineers that have given up trying to hit the stock option lottery at startups and needed a place to park. I remember in my 20ies, 4 years out of school when my company IPOed and I walked into the HP lobby to meet with some folks on a partnership, I got a "you lucky millionaire fvk glare from a lot of older people." I politely said, well not yet. I need to wait for the 90 lockup period to expire. Lol..
@kra - Yup....that is what I have heard from HR. You ain't seen nothing yet!! And yes Bethany and Hillsboro will take a major hit. I have friends in Bethany and I was amaze to see all the neighbors who are from India and China living in this development. All H1Bs?
Portland has a booming market, Intel is the elephant in the room but there is Nike and a bunch of smaller companies.
No question when the layoffs come in 2017 and 2018 the west side including Bethany and Hilllsboro will see a drop that will mirror Phoenix and Las Vegas.
It would s--- to be an owner or owner of multiple homes at the moment, a cold storm has already formed and it is going to hit the area!
Few available jobs in Portland.