Friday, May 22, 2020

Facebook: remote work and pay cut for cheaper area

May 22, 2020

Introduction


It is so hard for me to make money as a long term investor, and I understand that the public company should also have concern about the market, and make adjustment accordingly. I like to work on a short research based on the article published on MarketWatch.

Cheaper area


Here is the article.

The Facebook FB, +1.52% chief executive laid out the company’s future remote-working plans during a videoconference with employees Thursday. Zuckerberg said Facebook will “aggressively” ramp up the hiring of remote workers, though not all employees would be allowed to permanently work from home, at least at the start.
And those who choose to work where the cost of living is less should expect to be paid less.
Here are two highlights:
  1. More workers
  2. Pay less for cheaper area
  3. Remote work - stay in Silicon valley to pay high rent or move to cheaper area
  4. cost of living and cost of labor 
  5. Facebook median salary $240,000 a year 
  6. $2.4 million median home price, bay area $928,000 
Work at home - where is home? 


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