New York software engineers made an average of $120,000 last year. That’s more than in Toronto ($74,000), Austin ($110,000) and Boston ($116,000).
But here’s the rub: Once cost of living is factored in, the New York engineer winds up at the bottom, right next to the engineer from San Francisco, according to a new report.
The only silver lining for the New Yorker is that things are getting worse for his San Francisco counterpart, where costs are rising so fast that the New York engineer saw his buying power increase by 12% in 2016, relative to what a San Francisco engineer can buy with his $134,000 salary. A New Yorker’s $120,000 salary comes to $133,000 in San Fran dollars.
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Those are some of the results of the 2017 State of Global Tech Salaries report, an annual survey by the career marketplace Hired that was released on Thursday. The company, which is based in San Francisco and has an office in Manhattan, looked at 16 cities around the world.
Interestingly, though an Austin engineer’s salary would be the equivalent of nearly $200,000 in New York, companies in Gotham don’t have to stretch their purse strings to attract talent. Hired found that New York companies basically offer the same salary to candidates who would have to relocate as they do to local talent. Toronto bumps up its offers to out-of-towners by 21%, and San Diego and Los Angeles offer 8% more.
“New York and San Francisco are the most mature markets, and are able to source more locally because there is a lot of talent already there [that] wants to stay there,” said Jessica Kirkpatrick, the data scientist at Hired who prepared the report.
New York and San Francisco are also places where young people are willing to stretch their dollars just to be there. But Kirkpatrick says that once cities like Austin, San Diego and Denver develop a bigger tech scene—making it easier for new arrivals to move around in case the first job doesn’t work out—companies in New York will have to step up their game.
“I suspect that as these secondary markets get bigger, we are going to see more competition for talent,” she said.
The report, which crunched numbers from 280,000 interview requests and job offers that came through Hired’s marketplace, also looked at bias within the tech industry. It found that the average African-American candidate was 49% more likely to find a job than the average white candidate. But the black candidate asked for and received a salary that was about $10,000 lower than the salary for the average white candidate in New York and San Francisco.
State of Salaries 2017 by Crain’s New York on Scribd
New York software engineers made an average of $120,000 last year. That’s more than in Toronto ($74,000), Austin ($110,000) and Boston ($116,000).
But here’s the rub: Once cost of living is factored in, the New York engineer winds up at the bottom, right next to the engineer from San Francisco, according to a new report.
The only silver lining for the New Yorker is that things are getting worse for his San Francisco counterpart, where costs are rising so fast that the New York engineer saw his buying power increase by 12% in 2016, relative to what a San Francisco engineer can buy with his $134,000 salary. A New Yorker’s $120,000 salary comes to $133,000 in San Fran dollars.
Those are some of the results of the 2017 State of Global Tech Salaries report, an annual survey by the career marketplace Hired that was released on Thursday. The company, which is based in San Francisco and has an office in Manhattan, looked at 16 cities around the world.
Interestingly, though an Austin engineer’s salary would be the equivalent of nearly $200,000 in New York, companies in Gotham don’t have to stretch their purse strings to attract talent. Hired found that New York companies basically offer the same salary to candidates who would have to relocate as they do to local talent. Toronto bumps up its offers to out-of-towners by 21%, and San Diego and Los Angeles offer 8% more.
“New York and San Francisco are the most mature markets, and are able to source more locally because there is a lot of talent already there [that] wants to stay there,” said Jessica Kirkpatrick, the data scientist at Hired who prepared the report.
New York and San Francisco are also places where young people are willing to stretch their dollars just to be there. But Kirkpatrick says that once cities like Austin, San Diego and Denver develop a bigger tech scene—making it easier for new arrivals to move around in case the first job doesn’t work out—companies in New York will have to step up their game.
“I suspect that as these secondary markets get bigger, we are going to see more competition for talent,” she said.
The report, which crunched numbers from 280,000 interview requests and job offers that came through Hired’s marketplace, also looked at bias within the tech industry. It found that the average African-American candidate was 49% more likely to find a job than the average white candidate. But the black candidate asked for and received a salary that was about $10,000 lower than the salary for the average white candidate in New York and San Francisco.
State of Salaries 2017 by Crain’s New York on Scribd
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