Your also missing something though. The amount put away into a 401K is much higher in SF then in San Ant. TX. I would much rather work on San Fran for a few years, make a ton for my 401k then move some where cheap and rural in my 30s. San Fran people also have more cash for trips compared to Antonio. Overall, The higher salary is better in the long term.

I'm doing this now, but the higher tax bracket (not to mention the California taxes in general) make it not nearly as nice an option as it could be.