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Here's what techies earn in Silicon Valley

Last updated on: September 22, 2011 10:22 IST

Here's what techies earn in Silicon Valley

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Silicon Valley, home to many of the world's largest technology corporations, is a magnet for technology professionals.

The Valley has the highest concentration of high-tech workers of any metropolitan area in teh United States or elsewhere, with 285.9 out of every 1,000 private-sector workers and the region is the biggest high-tech manufacturing centre in the United States.

But how much do these workers get paid and, taking the living standard into account, is it enough?

Let us find out.

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Image: Silicon Valley is a magnet for tech workers.

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Here's what techies earn in Silicon Valley

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Tech job market

From January to March of 2011, venture capital firms spent $7.5 billion to fund 738 deals.

Out of these, 46 per cent were for Seed or Series A rounds, which have helped create a job boom in the area.

There are around 48,000 jobs at Internet companies in the Valley - more than there were during the late 90s' dot-com boom.

In 2010, unemployment was 11 per cent; it is down to 8.5 per cent in 2011.

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Image: Unemployment is down to 4.6 per cent.

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Here's what techies earn in Silicon Valley

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Salaries top-paid engineers command (annually)

Google: $180,000

Linkedin: $155,000

Paypal: $152,000

Facebook: $150,000

Apple: $140,000

Twitter: $125,000

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Image: Engineers can earn around $180,000.

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Here's what techies earn in Silicon Valley

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Average annual salaries in the Valley

Product manager: $105,000

Marketing manager: $102,000

Java/web developer: $97,349

Project manager: $92,000

Software engineer: $90,000

Graphic designer: $56,887

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Image: Product manager can earn around $105,000.

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Here's what techies make in Silicon Valley

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Cost of living

The average cost of living in the Valley is 61.5 per cent higher than the national average.

The average salary in the Valley is around $92,229 per year. The same standard of living would cost:

$74,808 in New York

$59,514 in San Diego

$46,912 in Philadelphia

$43,459 in Dallas

$38,007 in Knoxville

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Image: Cost of living in the Valley is 61.5 per cent higher than the national average.

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Here's what techies earn in Silicon Valley

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Taxes

In California, anyone making over $46,776 per year must pay 9.3 per cent in income taxes.

A person earning the average tech salary in the Valley would save $42,919 in just five years in a state like Florida, where there is no income tax.

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Image: There is 9.3 per cent income tax on those earning above $46,000.

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Here's what techies earn in Silicon Valley

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Housing

The average price of a home in the Valley is $774,584. This is 191 per cent higher than the national average.

The average apartment rent costs $2,241 per month. This is 76 per cent higher than the national average.



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