I am assuming that many positions that require the candidate to (eventually) relocate to the Bay Area are not getting a lot of traction. A fried of mine refused to interview for position like that despite being very junior! She decided the cost of living is not worth it.
What all of this means for the Bay Area talent pool and job market? Talent in the Bay Area are fetching astonishing pay ($600k for L6)[3] which I believe contributed to the out of the ordinary housing market in the Bay Area when you compare it to other cities in CA like San Diego and Los Angeles. I know many older talent have grown roots in the area. They have kids and friends which means they can't easily move. What if with this new wave of remote work acceptance, Bay Area pay won't match the expenses? Companies can hire everywhere in the U.S. for arguably the same talent quality. Some companies are even expanding to Mexico City[4] and other countries which might put even more pressure on Bay Area salaries.
Are we at an end of decades of continues growth and competition in the Bay Area? Will there be big pay adjustments?
[1] https://twitter.com/brian_armstrong/status/14811295897619988...
[2] https://twitter.com/patrickc/status/1480647701221896195
[4] https://www.lyft.com/careers#openings?location=mexico%2520ci...