Where Do Tech Salaries Stretch the Furthest? Hint: Not in California
Where Do Tech Salaries Stretch the Furthest? Hint: Not in California
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The classic story goes something like this: Hordes of computer whizzes fluent in a myriad of programming languages move to uber-pricey Silicon Valley or San Francisco each year. But fiscally prudent techies might want to head south instead.
That’s because their salaries are likely to stretch a lot further once they cross the Mason-Dixon Line, when adjusted for local cost-of-living expenses, according to a recent study from job listing site Indeed.
Indeed looked at local cost-of-living data from the U.S. Bureau of Economic Analysis along with salary data from all of its job postings in 158 tech-related occupations from August 2016 through July 2107 for the report. Only metros with at least 250,000 residents and sufficient salary data on Indeed were included in the analysis.
“For tech jobs, cost-of-living differences are especially important. Silicon Valley and the rest of the Bay Area have just about the highest living costs in the country,” Jed Kolko, the author of the report, wrote in a blog post on Indeed. Meanwhile, in other parts of the country, “that $100,000 tech job will get you more bedrooms, avocado toasts, and climbing-gym memberships.”
So where should engineers consider working? Charlotte, NC, would be a good choice. Tech workers, who make an average $101,147, are likely to get the most out of their paychecks in the Southern city, known for its growing finance industry. Adjusted for cost of living, their salaries balloon to $108,178—about an extra $7,000 a year. Sweet!
Bonus: The median home price in the metro is $297,500. That’s considerably lower than the median $1,095,800 in San Jose, CA, the “capital” of Silicon Valley.
Atlanta came in second, as the average salary of $100,380 becomes $104,454 in the “New York of the South.” It was followed by Austin, TX, where the lower cost of living tacked on $520 a year in income.
Does this mean techies on a budget shouldn’t live in the Bay Area? Not exactly.
Despite the sky-high prices of just about everything in San Francisco, it didn’t fare too poorly on the rankings, earning the fourth spot. That’s even with a $125,233 average salary being reduced to just $102,734. Seattle earned the fifth spot, followed by San Jose, at No. 6.
“Metros with higher posted job salaries still tend to be better deals, even after taking living costs into account,” Kolko wrote. “Tech hubs pay more, even when accounting for their higher living costs.”
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