SFCED | San Francisco Center for Economic Development

San Francisco Tops List of Best Cities for Wages, Jobs and Successful Companies

San Francisco claimed the top spot in Milken’s 2014 Best Performing Cities report. Dennis Conaghan, Executive Director of the San Francisco Center for Economic Development commented “We learned from the dot com bust in 2000, and our economy is now strong across tech, biotech and life sciences.  Better yet, there is a multiplier effect from the influx of technology entrepreneurs which creates 4-5 additional jobs in our city.”

In the report titled “Best-Performing Cities: Where America’s Jobs are Created and Sustained,” the San Francisco metro area (including San Mateo and Redwood City) claimed the No. 1 ranking, jumping two spots to oust Austin, Texas, from first place on the 2013 list.

San Francisco’s professional, scientific and technical services sector accounted for 45 percent of all jobs created over the five years ending in 2013, according to the report. The median wage for such professionals is $91,400 — 30 percent above the national average of $70,900.

“What propelled San Francisco above 2013 first-placer Austin, Texas, was its No. 1 finish in wage growth over both the past five-year and one-year periods,” the authors wrote. “Young, technology-skilled workers are flocking to the city.”

Read more: San Francisco Business Times San Francisco tops list of best cities for wages, jobs and successful companies

SF Tops List of Best Cities