High Growth, Low Cost Of Living Attract More Engineers To The Austin Tech Market
We've all heard that Austin's tech market is growing year over year, becoming a destination for software engineers from all over the US, especially converting Californians to Austinonians. It's estimated that 150 people are moving to Austin daily. The low cost of living (about 4% under national average) the expanding tech scene, and high demand for technical workers are all factors contributing to Austin's attractiveness.
Here are some interesting statistics on growth of the Austin tech market:
The Austin American Statesman reports that the average technology worker in the Austin metro area makes $98,672 a year. That's up nearly 6% from 2014.
According to a study by Forbes, the Austin tech scene has grown by 73.9 percent, which is more than any other major city in the US. There's been a 36.4 percent increase in STEM jobs, with over 86K employed in STEM.
Startups are reporting that payrolls have grown by approximately 81 percent over their first five years. This is the fifth highest rate in the country.
The Austin Chamber reports that venture capital investment is increasing year over year too. Of course, this means more jobs.
But what kind? According to the Austin Technology Council Talent Study, these are the top tech categories driving growth, based on value added to the GDP.
Top Austin Tech Jobs:
*Cmp & peripheral - computer and peripheral equipment
These 5 categories make up for 80% of tech employment.
Several conclusions can be drawn from these findings. One thing to note is many of these data are from 2014 and 2015. One conclusion we can draw for certain is that if we're on the same trajectory of growth in the Austin tech market, it's a great time to be a software engineer in Austin in 2017.
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