The PayScale Index Shows Wage Growth in Tech Centers
“Annual wage growth for IT jobs has actually been slightly below the national average in the first half of 2016,” said Katie Bardaro, VP of Data Analytics and Lead Economist at PayScale, in a statement. “However, as more organizations use increasing amounts of data, data-centric jobs are in high demand and appear to be driving wages up in the technology centers such as Seattle and San Francisco.”
(Photo Credit: Andrew E. Larsen/Flickr)
The latest update shows:
- Q2 2016: 2.5 percent year-over-year wage increase
- Forecast for Q3 2016: 1.6 percent year-over-year wage increase
© 2016 PayScale, Inc.
Tech Hubs Are Booming
- Riverside, CA (4.2 percent)
- San Francisco, CA (3.5 percent)
- Seattle, WA (3.4 percent)
- San Diego, CA (3.1 percent)
- Tampa, FL (2.9 percent)
Data-focused jobs like data analyst, data scientist, and business intelligence analyst showed strong wage growth and contributed to climbing wages in metros with a high concentration of these occupations.
Other Highlights From the Update
- Transportation jobs had the highest annual wage growth, at 4 percent, despite taking a slight dip of 0.2 percent in quarterly wage growth.
- Annual wages in mining, oil, and gas exploration decreased 2.3 percent in Q2, and have fallen 3.5 percent over the past two quarters. Still, the industry topped the list for wage growth since 2006, at 14.9 percent.
- The three metro areas with the lowest annual wage growth were: Louis, MO (1.8 percent), Philadelphia, PA (1.5 percent), Baltimore, MD (1.3 percent)
The Real Wage Index, which incorporates the Consumer Price Index into The PayScale Index and reflects the buying power of workers’ wages, shows that today’s earnings are worth 7.4 percent less than they were in 2006.
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