Seattleites who say Bay Area tech workers are invading their city have new data to back up that claim.
In the last five years, the number of Silicon Valley workers searching for jobs outside the region has increased by a staggering 67 percent. That’s according to a new report from Indeed, a job listings and search platform based in Austin, Texas.
Indeed looked at the job search habits of its users in six of the nation’s top tech hubs — San Francisco, San Jose, Seattle, New York, Boston, and Austin.
In Silicon Valley (San Francisco and San Jose combined), 44 percent of all job seekers and 38 percent of tech job seekers are looking for gigs outside of their metro area. Those are the highest rates of outbound job search among the tech hubs studied.
What’s more, the highest rates of outbound job seekers in the Bay Area aren’t moving-friendly millennials. They’re in the 45-54-year-old range. That’s significant because typically by middle age, workers have put down roots and aren’t as inclined to relocate.
“So it begs the question, why are these people looking to migrate for their next job? We think it is because living in the Valley has become unaffordable for so many people or it could be desire for a better work-life balance,” Raj Mukherjee, Indeed’s senior vice president of product, said in a press release.
The median home value in the San Francisco metro area has scored to $839,600, while median rents are at $3,300, according to Zillow data. The region’s booming tech industry has caused liveability issues, even for well-paid tech workers.
Seattle is grappling with some of the same issues, including rapidly rising rents and property values, but is more liveable when compared with the Bay Area. About 29 percent of Seattle tech workers are searching for jobs outside of the region, up seven percent from 2012.
Indeed also looked at the average length of time software engineers stay with a company, in each of the six metro areas. San Francisco engineers had the shortest tenure, of 27 months, followed by Seattle with 28 months. The national average is 35 months, according to Indeed.
“Silicon Valley job seekers, including highly paid tech workers, are looking for jobs outside their own metro area at a much higher rate than other metros,” Mukherjee said. “This implies they are aware that highly paid job opportunities are being created not just in Silicon Valley, but in other parts of U.S. which is a net positive for the U.S. economy. Even large tech employers from Silicon Valley are opening offices around the U.S. both to tap into local talent and stay ahead of a potential outbound migration.”
GeekWire has been tracking those large Bay Area tech companies that have set up engineering centers in Seattle here.
