Jul 11, 2022 - News

Tech wages continue to lag West Coast cities, NYC

Select local tech wages compared to San Francisco market
Data: Carta; Chart: Jacque Schrag/Axios

As Michigan looks to add more tech jobs through the auto industry's shift to electric vehicles, a recent report shows Metro Detroit still lags behind other cities in average tech wages.

By the numbers: Tech workers here earn 77% of what they make in the metro areas of San Francisco, New York City, Seattle, and San Jose, California, according to equity management company Carta.

Why it matters: The new tech and mobility innovation campus Ford is building at the Michigan Central train depot in Corktown is a cornerstone of the state's tech industry growth strategy.

  • The project gained momentum with the February announcement that Google would be a founding partner and provide workforce development training.
  • Another tech giant has a new presence here – the Detroit Apple Developer Academy for entrepreneurs just celebrated 100 area residents who graduated from its inaugural cohort.

Between the lines: Most companies take an employee's local economy into account when deciding on wages, according to the report.

  • And the overall cost of living is 50% lower in Detroit compared to San Francisco, according to NerdWallet's cost of living calculator.

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