Not enough tech jobs!!

paydawg

Active member
This is going to be a big issue for those heavily invested in Southern California if this continues.  OC needs to step up the hiring of high-paying jobs!
http://www.ocregister.com/2017/07/24/is-southern-california-suffering-a-tech-brain-drain/

Is Southern California suffering from a technology brain drain?

A new study of U.S. and Canadian technology talent by the CBRE real estate brokerage certainly suggests that the region isn?t fully absorbing its slew of tech-savvy college graduates.

Here?s the good news: Los Angeles and Orange counties produced 45,968 college graduates to technology-related degrees between 2010 and 2015. Only two other markets ? New York and Washington D.C. ? produced more.

L.A.-O.C. produced 33,080 new technology jobs between 2011 and 2016, seventh-best growth among big tech hubs behind San Francisco, New York, Atlanta, Chicago, Dallas, Seattle and D.C.

Unfortunately, when you combine those two trends you see an ugly gap between the lofty level of local tech graduates and modest growth of L.A.-O.C. tech employment.

By CBRE math, L.A.-O.C. had a net tech talent drain of 12,888 people, third-worst among the Top 50. Only Boston and D.C. fared worse by this metric.

It?s not like the region?s tech industry is terribly weak.

Los Angeles, Orange and San Diego counties employed 261,000 tech workers in the past year ? up 48,000 since 2011! Combined, only the Bay Area had more technology workers than these Southern California counties.

And CBRE?s index of regional tech talent ? based on education, employment and demographic factors ? ranked Orange County 14th best out of the 50 markets tracked. San Diego was No. 19. Los Angeles was 24th. Tops, in order: Bay Area, Seattle, New York, D.C. and Atlanta.




And the local pay? Last year, CBRE fund tech workers averaged $100,200 in San Diego (eighth highest out of 50) and up 13 percent in five years; Orange County, $99,200 (No. 9), up 11 percent; and Los Angeles $95,600 (No. 12), up 7 percent. But that pay isn?t the $123,000 in the Bay Area, that nation?s highest, up 14 percent since 2011!

But high local rents can dent those fat paychecks.

CBRE analysts compared pay to typical apartment rents and found Los Angeles had the third highest ratio of rent-to-wage, 27.8 percent; fourth was San Francisco, 27.2 percent; Orange County ranked seventh at 24 percent; and San Diego was ninth at 22.7 percent.
 
Having trouble believing that rent/wage is worse in LA than SF.  Wonder what the inputs/assumptions were on that?
 
I spent way too long trying to stay in OC, and kicked myself once I got to the Bay for not moving there sooner. Anyone serious about a career in technology owes it to themselves to move to the Bay area. Lifestyle sucks compared to South OC but career path is unparalleled anywhere in the world.
 
If you don't mind sharing, which company were you working for in OC and now which company are you working for in Bay Area?
 
Burn That Belly said:
Nearly 46% of millennials want to leave Bay Area.
http://www.businessinsider.com/millennials-are-fed-up-with-san-francisco-housing-2017-3


Sorry but, tech jobs is just a small picture of the real problem. The real problem is the ridiculously high housing prices, the high cost of living, food, material, and even the extra pay and stock options aren't enough because you'll still be working OT and extra hard to stay competitive. And let's not forget, every year, there will always be a kid coming out of Stanford, each smarter than the other competing against you.

This actually applies to many professions. I have friends who are dentists, optometrists, registered nurses, and lawyers. They end up moving to the desert cities to make a great living out there because the demand is so high and they can't find professionals out there to fill jobs.

There is no doubt Bay Area is a great place to learn and innovate. But there's no point if you're dedicating 12-14 hours of your life every day to being a drone. You have to find balance.

Burlingame, CA is $1250+ / sqft. It's insane out there...

can't even race your Rari down the street in peace up there!
 
OCLuvr said:
If you don't mind sharing, which company were you working for in OC and now which company are you working for in Bay Area?

I worked for a small software company in Santa Monica (nasty commute from South OC) that was bought by a large semiconductor outfit in 2000. Finally moved here in 2007 and it continues to be eye opening. The ratio of jobs/people is amazing due to many not being able to stomach housing prices/what you get for the money. Salaries are ridiculous - avg 2-income HH in my zip is $500K. Entry level for a house in this zip is ~$1.2M (population ~40K), and there are currently only 18 listings under $2M.
 
Burn That Belly said:
Nearly 46% of millennials want to leave Bay Area.
http://www.businessinsider.com/millennials-are-fed-up-with-san-francisco-housing-2017-3


Sorry but, tech jobs is just a small picture of the real problem. The real problem is the ridiculously high housing prices, the high cost of living, food, material, and even the extra pay and stock options aren't enough because you'll still be working OT and extra hard to stay competitive. And let's not forget, every year, there will always be a kid coming out of Stanford, each smarter than the other competing against you.

This actually applies to many professions. I have friends who are dentists, optometrists, registered nurses, and lawyers. They end up moving to the desert cities to make a great living out there because the demand is so high and they can't find professionals out there to fill jobs.

There is no doubt Bay Area is a great place to learn and innovate. But there's no point if you're dedicating 12-14 hours of your life every day to being a drone. You have to find balance.

Burlingame, CA is $1250+ / sqft. It's insane out there...

Those workdays are for hardcore engineers. Sales, product mgt, VC, Marketing - not so much. Those roles usually pay more than engineering as well. I have an engineering degree but went straight into sales.
 
Got a little confused here... OCtoSV said that the tech jobs were better up north, but then said the hardcore engineer jobs aren't very good.

I think what OCtoSV meant was that non-tech jobs in the tech field are better?
 
irvinehomeowner said:
Got a little confused here... OCtoSV said that the tech jobs were better up north, but then said the hardcore engineer jobs aren't very good.

I think what OCtoSV meant was that non-tech jobs in the tech field are better?

No, just that engineers work really long hours. Generally the other roles I mentioned have a better $/hr worked quotient
 
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