It is no secret that despite tech workers drawing salaries and bonuses totaling $150K and above in Silicon Valley, many struggle to find affordable housing. The high cost of owning and renting a home has now prompted Zapier a start-up to pay their employees to re-locate elsewhere.
This offer from Zapier comes as high-paid tech workers in the Bay Area have complained about the cost of living in a region that suffers from a major housing shortage.
Zapier, an automation company founded in 2011, has announced that it is offering new recruits a hefty “de-location package” if they’re willing to move away from the Bay Area.
It told employees that if they wished to improve their “family’s standard of living” by relocating, the firm would provide $10,000 in moving reimbursements. Since CEO Wade Foster posted about the package last week, the uptick in applicants has been dramatic, he said in an interview.
The offer from Zapier comes as high-paid tech workers in San Francisco and Silicon Valley have increasingly complained about the high cost of living in a region that suffers from a major housing shortage. Tech workers earning between $100,000 and $700,000 recently spoke to the Guardian about their real estate struggles, and one study suggested that for some engineers, more than 50% of their salary goes to rent.
By many measures, San Francisco has the priciest real estate in the country.
In Canada Toronto seems to be ripe for companies to start offering their own de-location packages given that many young employees with jobs are now forced to pay close to half or more of their income on rent which is increasing dramatically. CBC Toronto is running an on-going No Fixed Address series where they examine the renting and housing prospects in Toronto.
The fact of the matter is that with technology allowing employees to technically work for a company sitting anywhere in the world. It is quite pointless to have employees working and living in a city where the cost of living eats away at one’s standard of living. An employee working for a company in Toronto would quite possibly have a better quality of life if he lived in beautiful Bancroft or Collingwood’s cottage country and commute to the company headquarters once a month or attend meetings via Skype. – CINEWS