Guys, here are the ground realities that has taken me a couple of months of job search to understand. As a Principal Engineer, I could not find equivalent positions in San Diego as far as salary is concerned. Title wise, there are many, Responsibility wise, there are many with even more responsibility than a Principal Engineer. My main issues during the interview process were - they expected me to know N number of skills, both at the implementation and architectural level. Something that we delegate to Sr. Engineers in QC ;). I realized the day I was promoted to Staff/Sr.Staff, it was a demotion of sorts on my skills.
After 3 offers, I have accepted the one that is paying me the most, still it is $50k less in Salary+bonus (I'm not counting the RSUs). I'm excited about the job but fear my skills need to be sharpened on the job over the next few months. My advice to other QC Sr.Staff and above is to relish your QC experience and salary while you can because I'll have to downgrade my lifestyle heavily in a month's time as I start my new job and start paying high medical insurance premiums in addition to lowering my salary significantly. Even if you don't get bonuses and RSUs while at QC, that doesn't matter because we are getting paid much more than anywhere in San Diego one could possibly make (My estimate is at least $50k in Sr. Engineering levels by virtue of interviewing in many positions).
Sorry if this is demotivating, but this is the ground reality I've discovered after 3 months of technical interview preparation and 2 months of job search.