Average annual salaries for Silicon Valley technology workers surpassed the $100,000 mark last year, according to a new survey, pushed higher by the strength of the region’s latest boom.
Tech-jobs website operator Dice Holdings Inc. said salaries for software and other engineering professionals in California’s Silicon Valley rose 5.2% to an average $104,195 last year, outstripping the average 2% increase, to $81,327, in tech-workers’ salaries nationwide. It was the first time since Dice began the salary survey in 2001 that the wage barometer broke the $100,000 barrier, said Tom Silver, a Dice senior vice president.
Silicon Valley’s job-market strength has also had a halo effect on bonuses. Silicon Valley tech-worker bonuses jumped 13% last year to an average $12,450, versus an 8% increase to $8,769 nationwide, according to Dice. Meanwhile, hourly contractor rates in Silicon Valley rose 11% last year to an average $74 an hour, compared with $63 an hour nationally, said Dice.
Between this, and the impending Facebook IPO, I think I’m being conservative when I forecast that house prices in the Real Bay Area will go up 49.5% by the end of the year.
This is going to be intense!
And that’s for people who are here already! It’s simply amazing how much money is pouring into the Bay Area. I hear that many bags at SFO’s international baggage claim are overweight because they are stuffed with bales of RMB!
How much has your salary gone up this year so far? Are you getting weekly raises? Or just monthly ones?