What Can You Expect To Earn In The Valley?

WHAT CAN YOU EXPECT TO EARN IN THE VALLEY? Silicon Valley earns its famous reputation not just from the fortunes that entrepreneurs create, but also from the high-paying careers available to tech-savvy employees. However, the area is also known for its incredibly high cost of living. Is working in the Valley really worth it? And how much can you expect to make in the nation's most celebrated tech scene? THE VALLEY'S TECH JOB MARKET From January to March of this year, venture capital firms in 48.000 Unemployment in the Valley the Valley spent $7.5 billion is down considerably year over year: to fund 738 deals. January 11% March 8.5% There currently around $7.5 BILLION 46% of these deals were for 48,000 jobs at Internet seed or Series A rounds, which companies in the Valley - have helped create a job boom more than there were during 2010 2010 in the area. the late 90s "Dot Com Boom." THE UPPER CRUST Some of the top-paid software engineers at the Valley's most powerful tech companies can command enormous salaries: $50K $100K $150K $200K Google $180,000 Linked in. $155,000 PayPal $152,000 facebook $150,000 $140,000 twitter $125,000 AVERAGE SALARIES IN THE VALLEY Impressive as they are, those jobs are extremely competitive and should not be considered average. The following are average salaries for common tech-sector and start-up positions in the Valley: National Median Salary Silicon Valley Median Salary $120K $105,000 $102,000 $97,149 $92,000 $92,000 $90,000 $100K $83,400 $77,000 $72,000 $80K $61,407 $56,887 $60K $47,860 $40K $20K SOFTWARE ENGINEER JAVA / WEB DEVELOPER PRODUCT MANAGER PROJECT MANAGER GRAPHIC DESIGNER MARKETING MANAGER COST OF LIVING IN THE VALLEY While those hearty salaries look appealing right now, keep in mind that the average cost of living in the valley is around 61.5% higher than the national average. SALARY BUYING POWER TAXES The average tech salary in Silicon Valley is around $92,299 PER YEAR In California, anyone making over $46,776/year The same standard of living would cost just: must pay 9.3% in income taxes. A person earning the average tech salary in Silicon Valley would save $42,919 in just five years living in a state like Florida $74,808 IN where there is no income tax. $46,912 IN NEW YORK, NY PHILADELPHIA, PA COSTS OF HOUSING $59,514 IN $38,007 IN SAN DIEGO, CA KNOXVILLE, TN The average price of a home in Silicon Valley $43,459 IN is $774,584. This is 191% higher than the national average. DALLAS, TX +191% The average apartment rent costs$2,241/month. This is 76% higher than the national average. +76% Sources: census.gov | exclusivesanjosehomes.com | huffingtonpost.com | rent.com techcublog.com | salary.com | bls.gov | sfgate.com | bestplaces.net | padzing.com FOCUS