Saturday, February 18, 2012

Saturday Stats: Average Silicon Valley Tech Salary Tops $100,000

For the first time, Silicon Valley tech worker salaries are averaging over $100,000 per year. Those are just salaries, not even including bonuses or other benefits. This is 25% higher than the national average for the tech industry. From 2010 to 2011, tech salaries nationally grew at a rate of 2% while Silicon Valley salaries rose by a staggering 5.2%. Contractor rates in Silicon valley rose an astronomical 11% to $74/hr (the national average was 2% here as well). Given our shortage of qualified workers, this trend will likely continue for at least a couple more years.

Another nice stat... the average pay for ALL workers--not just tech--in the San Jose metro is $67,850.  San Francisco is at $63,290. 

Source: SJBJ


6 comments:

  1. Joshua,

    I have always appreciated your upbeat enthusiasm for our city, but sometimes it is important to keep a sober outlook on our state of affairs:

    http://www.nytimes.com/2012/02/19/us/in-san-jose-budget-woes-take-a-toll.html?hp

    SD

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  2. It's a crappy time to work for the city (or county) for sure. Hopefully we can balance the deficit in 2013 without having to cut any more city jobs or services.

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  3. San Jose needs a living minimum wage while we're getting all excited about $100K+ salaries.

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    1. Or better training offerings to let more people access high-paying tech jobs. Right now there aren't enough qualified people to fulfill most of the tech job openings. We could bump the minimum wage by 20% or train people to do entry level tech jobs where the base pay is 200-300% more (I think we should do both, but I think the latter will benefit everyone much more).

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    2. dude that is actually a fantastic idea and i feel like it gets no respect in San Jose. High Tech Trade schools would be great and the South Bay could be a trendsetter.

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  4. Derek and Joshua:

    We need both. Lower paying jobs need not mean "low" quality life-not everyone will earn 100K, but there should be many, many options at a 30-50K scale that include better benefits and access to social-civil services.

    Not everyone can be a tech expert and the running of cities and life entails occupationally diversified reality. SD

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