SAN FRANCISCO, CA (August 11, 2016) — We know technology jobs are in high demand and, as a result, pay higher-than-average salaries. But what good is a big paycheck if it is all going to sky-high rents or mortgages?
Indeed’s global research institute, the Hiring Lab, mined salary and cost of living data to figure out where technology jobs pay the most – in real terms.
The Indeed Hiring Lab found that people with technology skills have a broad array of choices outside of tech’s unofficial capital – Silicon Valley. The top five cities include: Austin, Seattle, San Francisco, Chicago, and Dallas.
“Since the Great Recession, salary growth has remained sluggish for many workers in the U.S. and around the world,” said Daniel Culbertson, U.S. economist for Indeed. “However, when it comes to technology roles it is a different story. Here, employer demand continues to outstrip talent supply, putting ample upward pressure on salaries. Job seekers should not just consider salary, but where their earnings will go the furthest.”
Indeed’s report looks not only at technology workers generally, but also considers 15 specific technology jobs by city. For instance, the report finds that in San Francisco a technology worker earns an average annual salary of approximately $113,000, but a median rent of $3,357 takes up to 36 percent of monthly income. By contrast, Austin averages “only” $94,025 a year—but just 22 percent of monthly income is required to cover the median rent of $1,693.
“The data shows that the highest-cost cities often set the wages for in-demand technology talent,” said Paul D’Arcy, Indeed SVP. “Once we factor in cost of living, we quickly see that technology workers have their pick of cities and can optimize for happiness, whether that means quality of life or location.”
In addition, the Indeed Hiring Lab report reveals the cities where labor costs are lowest to the business, but compensation offers employees a higher standard of living.
To see the full Indeed Hiring Lab report and list of the top 15 U.S. cities, please visit: Where are the Highest Paying Tech Jobs in the U.S.?
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