r/biotech Sep 16 '24

Those of you with a 85K to 120K salary living alone, how much do you spend on rent? Open Discussion 🎙️

Just curious to see how much people in this field are typically spending on rent once in the workforce, especially since biotech jobs tend to cluster in high cost of living areas. Are you still able to follow the "30% rule"?

64 Upvotes

64

u/Top_Limit_ Sep 16 '24

Started at $110K in California 3 years ago and was paying approx ~$2700/month

3

u/mountain__pew Sep 17 '24

I have similar numbers as yours when I started in the Bay Area 3 years ago. What are your salary and rent now after 3 years?

4

u/Top_Limit_ Sep 18 '24

$150K salary and $3K rent currently

57

u/Saitama_boo69 Sep 16 '24

More than one of my paychecks goes to living expenses. Especially if you consider after taxes. If you consider before taxes then technically I am spending 30% towards rent. :(

104

u/Reasonable_Move9518 Sep 16 '24 edited Sep 16 '24

Cries in “Postdoc Appreciation Week”

35

u/tree3_dot_gz Sep 16 '24

The universities really appreciate exploiting postdocs!

6

u/biotechexecutive Sep 16 '24

Hey I like exploiting post-docs too. They make the best biotech interns. But at least I give them the option for full time role after we raise more funding

3

u/Existing_Presence_69 Sep 16 '24

At least the postdocs are being exploited less than the PhD students living on poverty-line wages and the undergrads literally working for free. 🤡

Pyramid scheme type shit.

2

u/thegreatfrontholio Sep 17 '24

Honestly postdocs are being exploited more than any other level of trainee. They are often classed by the university as an independent contractor, there is no formal oversight of them by the university, nobody even knows how many of them exist, and they receive very low total comp and often have worse insurance options.

A PhD is actually legitimate training. Your stipend is barely livable, but your program is paying your tuition - grad school tuition at my institution was $50K/year. (If you are in a US doctoral program and not receiving a tuition waiver, you should not be in that program.) Add the free tuition to the stipend and suddenly the total comp is not as bad anymore.

As for undergrads, they absolutely should not be working for free. They should either be paid work-study or receiving credit. I definitely didn't have anyone working for free in my lab at a small college or the lab I helped manage at an R1 before entering industry.

12

u/mountain__pew Sep 16 '24

Free pizza and swag (water bottles, pens, etc)!! 😂

9

u/Reasonable_Move9518 Sep 16 '24

I’m using the ridiculous 16x10 foot “Postdocs: We Appreciate You!” banner they printed and stuck on a rando building to wipe away my tears.

-24

u/Euphoric_Meet7281 Sep 16 '24

Nobody forces you to get a PhD. Just do what 90% of PhDs do and ask your parents for money

13

u/long_term_burner Sep 16 '24

What a strange thing to say.

49

u/chemicalalizero Sep 16 '24

I was paying $2700 in SF plus parking for a bit. Honestly, get a roommate if you can. I know it’s not ideal, but at least that way you can build up savings/pay off debt

20

u/Few_Neighborhood1438 Sep 16 '24

2K in Boston & was able to live alone. I got insanely lucky though

7

u/RStud10 Sep 16 '24

In downtown Boston? :O

9

u/Few_Neighborhood1438 Sep 16 '24

Not downtown…more like Harvard Stadium area

8

u/kcidDMW Sep 16 '24

LOWER Allston.

33

u/Osmumtens_fang Sep 16 '24

90k. I spend $1700 on rent, but with all my bills, student loans etc, i can usually only save $100-$200/month. Definitely feels bad man.

44

u/Cultural_Evening_858 Sep 16 '24

does van life / shower at gym work?

33

u/Angry-Kangaroo-4035 Sep 16 '24 edited Sep 16 '24

Bay area ( CA) and was spending $2200 a month in rent. Yet, my landlord kept my rent low because I paid on time, did small repairs, didn't call him with issues, and didn't get complaints from his HOA. When I left, he jacked up the rent to $3600. I was responsible for all utilities, including trash, wifi etc. It was a 2 bedroom- 1 bath- but extremely small. It was about as big as a long stay hotel room.

11

u/random-thots-daily Sep 16 '24

Same happened to me but through my PhD. I stayed there for 5 years with the same rent I had when I first signed the lease. Then it went up the same amount after I left. But crazy thing is that they were able to move the new person it within 3 days of my departure (it was one side of a duplex).

16

u/RealGambi Sep 16 '24

I was at 125k at my last job; pay 1200/month for an in-law unit in the SF Bay Area

8

u/TheDayManAhAhAh Sep 16 '24

$1450 per month. $90k per year

6

u/redbeardnohands Sep 16 '24

That’s cheap. Where ya livin?

8

u/attempts_were_made Sep 16 '24

$100k give or take. Mortgage + property tax is 1450/month.

20

u/Puzzled_Pea_6950 Sep 16 '24

Mortgage at 1450/mo? Where do you live, middle of Alabama?

2

u/attempts_were_made Sep 19 '24

Haha east coast of Canada.

1

u/Puzzled_Pea_6950 26d ago

Sounds like I need to move to the Maritimes 😂😂

15

u/tactical_lampost Sep 16 '24

None of yall are making under $85k? 😭😭😭

9

u/redbeardnohands Sep 16 '24

I make $75k. I pay around $1,100 in San Diego, CA…but I got three roommates.

40

u/Cultural_Question702 Sep 16 '24

honestly the fact that people are strongly suggesting to live with a roommate at a 100k salary just shows that the world is going to end soon

13

u/redbeardnohands Sep 16 '24

It’s so bad bro

1

u/[deleted] Sep 16 '24

Who let the Labcel out 

6

u/Fullofcrazyideas Sep 16 '24

I make $75k in Boston pre-tax. I have a nice apartment in Cambridge and pay 1550, I have 2 roommates and it’s a more modern 3bd 2bath, in unit laundry condo.

3

u/Prestigious-Lime7504 Sep 16 '24

I started 2 years ago around that in Philly and it was rough to be under 1/3 of post tax salary living by myself even considering the relative LCOL of Philly

4

u/redbeardnohands Sep 16 '24 edited Sep 16 '24

I make $75,000 and I only pay just over a grand for rent monthly, but I’m a master tenant at an older four-bedroom townhome (nearby work though). Getting to be not worth the stresses after a few years. Made just $60k earlier this year. Slowly moving towards better paying jobs and a profitable side hustle. Want that car and one bed apartment/studio by 2026 without sacrificing my monthly savings input.

8

u/burnhaze4days Sep 16 '24

1500, after taxes and then my debt + other living costs still make it difficult to get by. Plus the commute from Worcester.

8

u/P-i-x Sep 16 '24

$2100 + utilities in Boston

26

u/open_reading_frame Sep 16 '24

Like $3k. The 30% rule doesn't apply for VHCOL areas and can actually hamper career progression due to the rich opportunities in those areas.

12

u/teletubby_wrangler Sep 16 '24

go big or go home baby

12

u/Jealous-Ad-214 Sep 16 '24

I think the 30% rule has been a pipe dream for at least 20-25 yrs. Ever report uses it but no one seems to be adjusting with times/inflation. Save for very few places in country.. with a single income paying rent, it’s closer to 45-60% of income after taxes depending on region.

10

u/Skensis Sep 16 '24

30% rule is usually based off gross income not net.

7

u/wawawowee Sep 16 '24

2400, making 105k

6

u/huyouer Sep 16 '24

My suggestion is that - with this salary, although not high, you should start thinking about mortgaging a smaller property (e.g. studio or 1-bedroom) rather than renting. I don't know situation in the bay area, but in Boston, if you work with an agent and look in the near suburb area with a 30-45 min commuting distance to Kendall square, this salary is doable to find a smaller property.

I did that even when I was a postdoc and made less than 50K a year pre-tax. Now when I look back, it's one of the best financial decisions I have ever made. Instead of paying rent, all that money went in to the equity of the property and now the property value has almost doubled.

10

u/Skensis Sep 16 '24

I'm in the bay area, a one bedroom apartment is gonna run you like 600-800k.

Not many people early career are going to have the cash foe for the down-payment. And with hoa and current interest rate you are looking ar 4-5k a month.

4

u/huyouer Sep 16 '24

I don't disagree with you. That's why I said I don't know the situation in bay area. But in Boston, it's still doable in certain areas.

Down payment can be always negotiated or be lowered via certain ways. Some of my friends were able to get 5% down payment instead of 20%.

Yes interest rate is high right now but looking for a property takes at least several months to a year, by that time the feds should have lowered the interest rate, hopefully.

-2

u/biotech_queen Sep 16 '24

I wholeheartedly agree! Buying is always a smarter decision then renting

6

u/Zandria8033 Sep 16 '24

In CT and I pay 2050 for rent

11

u/[deleted] Sep 16 '24

I make $98K and I pay $0 for rent. I live with my parents.

5

u/Easy_Boysenberry_308 Sep 16 '24

Rent is 2k, approx 30% of income

4

u/anzara2Y5 Sep 16 '24 edited Sep 16 '24

I make 95k, spend 1500/month in rent, but I live in a quiet, 2 bed, 1 bath house with a fenced in yard in Central Minnesota with my dog. I have the whole property to myself. Actually feels very nice.

Definitely do not see myself having the same lifestyle on either coast, though.

5

u/miraclemty Sep 16 '24

90k in the most southern city in California. I pay $2600 in rent and it takes 1.12 of my paychecks to pay that after taxes.

3

u/[deleted] Sep 16 '24

[deleted]

6

u/Foreign-Berry-1794 Sep 16 '24

What type of biotech companies are there? Genuinely curious

4

u/[deleted] Sep 16 '24

[deleted]

4

u/hguo15 Sep 16 '24

About 35% without a roommate and 25% with a roommate. On the top end of your range. In Boston.

5

u/labnotebook Sep 16 '24

150k in the bay area and pay 1800 in rent 2b2b

4

u/traeVT Sep 16 '24

I was making $97k in Berkeley Cal. After taxes and deducations (including a mandatory 9% pension contribution) I only took home $58k.

Given that I pay for a $1895 which still seemed tougher than I imagined to afford

4

u/AnonymousLabFolk Sep 16 '24

Make around 100k gross. Rent has gone up 50% over 3 years and am now paying around 2100 for my portion with a roommate in Boston. On top of student loans at 1.5k a month and putting 850 a month into 401k, the lack of salary increase in the industry is making me priced out of everything in the area.

4

u/Character-World-2035 Sep 16 '24

$115k in CA currently: $1600 + $200 utilities

4

u/Sci-Medniekol Sep 17 '24

SoCal Hub. Above the range in your title and technically following the 30% rule. However, I take out quite a bit for taxes*, 401, and HSA. Half my monthly net goes towards rent, student loans, my car payment, and utilities. (The other half is for Internet, phone, insurance, food, house items, subscriptions, savings, etc.) (And I now I need to move into something bigger 😮‍💨)

*I have a friend who makes more than me. He and his wife moved to a different state just so they could save about 10k/year on taxes. (They also rent out a house down here and have investments and side businesses. True couple goals.)

3

u/No-Wolf-4908 Sep 16 '24

$1600 for a 1br downtown. I work at a pharma mfg site near an average COL city. Less than 30% of my take home.

3

u/Aggie3357 Sep 16 '24

I will be paying around $1400-1500 for a 2 bed 1 Bath on a sharing basis in the greater Boston area.

3

u/[deleted] Sep 16 '24

1300 in upstate NY

3

u/kevinalexpham Sep 16 '24

Better to get a roommate than to throw away money on renting alone.

3

u/RuetheKelpie Sep 16 '24

My 3 bed 2 bath house is $3600 in San Diego. I occupy 2 rooms at $2200 (the cost of a one bedroom apartment here) and rent the third room for $1200.

3

u/xTheDrumDaddyx Sep 16 '24

I simply just bought a house, it’s cheaper than renting

3

u/kcidDMW Sep 16 '24

Boston so about 4k.

3

u/Material_Aspect_7519 Sep 16 '24

$1900 but I have a mortgage not rent.

3

u/smnrush Sep 16 '24

2500/mo mortgage, Massachusetts

3

u/jaysracing Sep 16 '24

$975 Santa Monica area. I rent a room in a house and spend the difference on food/going out.

3

u/vt2022cam Sep 16 '24

Cambridge, MA alone $2200.

3

u/choopietrash Sep 16 '24

Bay Area CA. I lived in a worn down warehouse loft (you know, the type with homeless encampments and heroin needles everywhere) with 3+ roommates for $800/mo for several years. Then recently I found a regular (tiny) studio for $1600 just by myself. Last job was 108K. I considered some $2000 apartments but lucked out with this studio, I think. It does have some downsides though, like ants, tight parking and crappy heating. If I didn't have a cat and a real dependence on my desktop PC, maybe I could live in my car 😂

3

u/sue_domonas Sep 17 '24

~$120k TC and I currently pay $1375/month for a master bedroom and parking in a house of 5 here in SF… somewhat rough neighborhood but I like my housemates at least lol

3

u/Neat_Holiday6612 Sep 18 '24

Not biotechnology, but consulting. Boston/north shore 120k and $1715 for a 1 bed. After 15% to 401k and roth..rent is a soild 30% of my take home

5

u/PharmaBro2393 Sep 16 '24

2023 I was spending $3400 on rent on $130k total comp. Now spend $3500 on rent on $230k total comp. Located in Northeast US in VHCOL area. Although I always had % rules of spend in the back of my mind, I didn’t want to sacrifice mental health/happiness derived from my living conditions just to meet arbitrary spend guidance. I justified it by telling myself that “this is the least I’ll get paid (assuming I don’t regress in my career/get laid off) and it’ll only get better”

7

u/redbeardnohands Sep 16 '24

230s nuts Did u sell ur soul

3

u/PharmaBro2393 Sep 17 '24

Haha nah, I actually work a very chill job and average ~35hrs/week +/-5 hrs

5

u/doovick Sep 16 '24

I’m in the 35% range

6

u/[deleted] Sep 16 '24

My son just started a remote job in biopharma.

He makes $120k but lives in a VLCOL area, and his mortgage is $750 a month. So not only is he paying very little of his salary to accommodation, since it’s his house he’s also paying himself instead of making someone else rich.

2

u/fallen2151 Sep 16 '24

~1200 with roommates in boston area, would definitely increase if I wanted to live alone, but would have more money to travel/save/etc..

2

u/RookNight3420 Sep 16 '24

82k spending 1950/month on rent - boston

2

u/newneuron Sep 17 '24

1400 in Philly

2

u/phreshkid Sep 17 '24

If you can swing it, move to the Midwest and work remotely.

You can rent a 3 bedroom house for $1,200 a month in a really nice area.

2

u/Georgia_Gator Sep 17 '24

100k, $1500, Arkansas. I worked for a while in the more popular states, then landed a remote job allowing me to move to a LCOL state.

2

u/Major_Schedule_2392 Sep 18 '24

$116K as RS1 for CRL in MA

Rent is $2860

2

u/Interesting-Dark-755 Sep 18 '24

Make 120k, live with parents again so no rent. When i rented i lived cheaply, between 900-1300 in Denver.

2

u/aas4321 Sep 20 '24

$1600 LA, $90k

2

u/CharmedWoo Sep 16 '24

I can only dream of such salaries here in Europe, luckily my COL is also lower.

6

u/MattSRS Sep 16 '24

This question can much better answered on general personal finance subs

2

u/blue_nose1 Sep 16 '24

1400 but I have two roommates, they each pay 450 so I pay the rest including electricity/water and internet

2

u/CapableCuteChicken Sep 16 '24

Married couple both in biotech, both making ~$135k each, we have our own house in MCOL (soon becoming an HCOL) and it’s 1/3rd our combined take home income. Daycare is another 1/3rd so yep, even at that salary, we are just doing ok.

2

u/leeezer13 Sep 16 '24

140k (slightly out of your request) mortgage is 2100.

3

u/Seafoamed Sep 16 '24

How

5

u/Lyx4088 Sep 16 '24

My wife qualified for our home on roughly 85k in the San Diego area with a mortgage that is about 2200. It helps we were able to buy in late 2020. Between the rates and the price increase, we wouldn’t be able to afford our home today.

2

u/redbeardnohands Sep 16 '24

Heyyo SD. What part?

3

u/leeezer13 Sep 16 '24

Sheer will power and spite? Maybe my roomie, having them is def a help. They pay 450, but I purposefully worked backwards from my take home pay to ensure that even if (when) they leave, I can technically afford it myself. I never really think about the how. I just have to pay it, so the bank doesn’t take it 🤷🏻‍♀️. Since April my mortgage and anything house related is averaging 30% of my monthly spend.

0

u/Seafoamed Sep 16 '24

You thought I was saying it was expensive? I’m asking how it’s so cheap lmao

2

u/leeezer13 Sep 16 '24

You wrote “how” and literally nothing else my dude. How the fuck was I supposed to magically know what you meant? 2100 on mortgage isn’t cheap for many people. So good for you I guess? I have no idea what you want out of this exchange.