The country that provides the highest salaries to tech employees is America and more specifically Seattle. According to the most recent data from the US Bureau of Labor Statistics , tech workers in the Seattle area had an average annual salary of $ 279,084 in the third quarter of 2019. This is twice the salary observed in any other professional field in the area. It is worth noting that these figures do not include median wages, a measure that would best demonstrate the cash earnings of those working in the technology sector . High-paid executives have a significant impact on the average.
Average wages also include full compensation, such as the stocks and bonuses often offered by technology companies to attract workers to a competitive job market.
The next sector with higher wages after the technology sector and “information” are the so-called “professional and business services “, where workers had an average compensation of $ 97,396 per year, the third quarter of 2019. In all industries, workers in King County, which contains Seattle and its surrounding communities, earned an average of $ 94,328 a year in the third quarter of 2019. According to the BLS, wages for tech workers in Seattle have declined of 2.7% compared to the first quarter of 2018. Specifically, average weekly wages decline significantly when there is a large increase in workers receiving below average wages.
In Seattle, the salaries of tech workers are well above the income of economists in New York. The economy is an industry that has long involved generous salaries and luxurious lifestyles. According to Bloomberg , Seattle tech employees earn 56% more than an average New York economist. In addition, the average annual salary in San Francisco, which is the focus of technology, was about $ 118,196, up 7.6% year-on-year.
Seattle’s tech industry has grown significantly over the past decade, led by giants like Amazon and Microsoft , while being supported by start-ups and mid – sized companies .
In addition, competition has forced employers to provide increasingly generous compensation packages and benefits. This is due to Seattle’s low unemployment rate. Average weekly wages rose to 350 of the nation’s 355 largest counties between 2018 and 2019, while across the nation, average wages reached $ 1,093 a week in the third quarter of 2019, an increase of 3, 6% compared to 2018.