companies to offer higher compensation so the fact that you just have a ton of tech companies in a small area means that they have to consistently increase their salaries to be competitive and to get talent and speaking of talent these areas tend to also have a lot of talented people you have some of the top universities in this area you have people who move to be in the headquarters of these tech companies so the talent in these high-cost living areas tends to be a little bit higher just because there are people moving in to be a part of these tech companies and they're also a lot of universities and a lot of talent in this area if you're someone who wants to make more money in tech maybe the solution to making more money in tech is to try to get a job in the bay area in new york or in seattle but again it's a double-edged sword because not a lot of people will be comfortable living in these major metropolitan areas i know for me i would never ever move to the bay area and i'm not moving to seattle after i visited those cities i realized that those cities are too flavorless there's not enough diversity for me so that's why i personally like new york but i know a lot of people also think new york is a horrible place so yeah you just have to wait the pros and cons to decide what makes sense for you so before we hop on to the next section of this video i do want to thank the sponsor of this video career karma thanks career karma for sponsoring this video if one of your goals this new year is to break into tech and you are choosing the tech boot camp route check out career karma there you can get matched to a top bootcamp career karma is an online community with resources you'll need to get into a tech career in NUMBER_TOKEN there you'll find unbiased and detailed reviews of all bootcamps by former bootcamp students live audio rooms with bootcamp students grad and tech industry experts and bootcamp matching based on your learning preferences career karma is free and always will be so click the link in the description box and start looking at boot camps the first thousand of my subscribers to sign up and get mastered bootcamp will get a free coaching session package to set you up for success go to URL_TOKEN piccola to get started so another factor that can influence your tech compensation and might be the reason for these high six figures sometimes seven figures tech salaries is stock appreciation we've been in a bull market for several years now like a lot of people are like when is there going to be a recession tech workers have truly benefited from the stock appreciation and this bull market that we've been having if you remember in my last video about tech compensation i talked about how your equity that you're given as part of your compensation can be up to NUMBER_TOKEN or even more of your compensation so as you can imagine NUMBER_TOKEN of your salary is coming from equity and then in a year's time your company's stock increases NUMBER_TOKEN percent you can imagine how much that can increase your salary but again this is a double-edged sword because while there are some companies where your salary has increased because of stock appreciation there are other places where your salary or your tech compensation can actually decrease due to stock depreciation like in snapchat and also in robinhood and speaking of robin hood another reason why you might see these high six-figure sometimes figure tech salaries is because these are just early employees
START_SPONSOR_TOKEN we hop on to the next section of this video i do want to thank the sponsor of this video career karma thanks career karma for sponsoring this video if one of your goals this new year is to break into tech and you are choosing the tech boot camp route check out career karma there you can get matched to a top bootcamp career karma is an online community with resources you'll need to get into a tech career in NUMBER_TOKEN there you'll find unbiased and detailed reviews of all bootcamps by former bootcamp students live audio rooms with bootcamp students grad and tech industry experts and bootcamp matching based on your learning preferences career karma is free and always will be so click the link in the description box and start looking at boot camps the first thousand of my subscribers to sign up and get mastered bootcamp will get a free coaching session package to set you up for success go to URL_TOKEN piccola to get started END_SPONSOR_TOKEN