The global annual salaries of tech workers hit an average of $135,000 last year. The figure varies considerably by location. In most areas, the number is soaring.
According to compensation measurement firm Hired, tech salaries in San Francisco are the highest among U.S. cities at $142,000. Following that, salaries in Seattle average $132,000. Arguably, the two markets are the most competitive for tech salaries. They are home to many of the largest tech companies in the world. Alphabet Inc. (NASDAQ: GOOGL), the parent of Google, is one of several Fortune 500 tech firms in the San Francisco area. Seattle’s largest tech firm is Amazon.com Inc. (NASDAQ: AMZN).
Salaries in the two cities have soared recently. Two years ago, the average in San Francisco was $133,000. In Seattle, the number was $125,000.
Hired’s conclusions are based on “2017 data on technology workers, including software engineers, designers, product managers, and data analytics roles…”
Tech salaries for some people may be capped based on age and race. Hired makes the point the black tech workers make $6,000 less than white workers. Tech salaries level off at age 45.
The hottest tech sector for compensation is transportation, where the average salary is $145,000. At the other end of the spectrum, financial tech workers make only $111,000 on average.
By role, product management employees make the most money at $145,000.
While it is not an apples-to-apples comparison, the average household income in the United States is under $60,000, a sign of how well the tech industry pays.