IT & Software
- The Bay Area has 746,100 technology jobs as of August 2016, beating out the previous record of the 1990s/early 2000s dot-com era by 21,000 jobs. About 20% of payroll jobs in the SF area are in tech.
- In Q2 2016, venture capital firms invested $6B in the IT Services and Software sectors in the Bay Area, almost double the amount they invested in IT Services/software in Q1 2016 and higher than the amount invested in any previous quarter.
- IT Services and Software venture capital in the Bay Area accounted for 38.6% of the total number of IT Services and software venture capital deals in the US and 62.1% of the total venture capital investment in the US.
- PhDs.org ranked Bay Area universities Stanford and UC Berkeley were ranked first and second, respectively, in the quality of their computer science PhD programs.
- An August 2016 study ranked San Francisco fourth among U.S. metropolitan areas for startup activity, and San Francisco would likely have been ranked first had the report not included businesses other than tech. San Jose, meanwhile, dropped to eighth as more tech jobs moved into the Bay Area.
- Salaries for IT and software workers are much higher in SF than in the rest of the country; a big data engineer could make as much as $274,900 annually in the Bay Area compared with $196,000 nationally.
- The growth rate for IT employment on a year-over-year basis continues to be greater than that of the overall workforce, and this high rate of growth will likely continue as tech companies shift into new categories such as the cloud and the Internet of Things.
- San Francisco houses world-class research institutions, including Stanford, UC Berkeley and UCSF, offering abundant collaboration, recruitment and licensing opportunities.
- The Institute for Next Generation Internet was founded in 2005 at San Francisco State University. Among its goals is to develop commercial applications for high-speed fiber networks that could run up to 600 times faster than standard broadband.
- San Francisco has the largest aggregation of research universities and federal research institutions in the US.
- Tech companies occupy more than 29% of the city’s occupied office space, about double what the industry occupied in 2010.
- In the face of high real estate prices, many San Francisco landlords are offering special deals and incentives for IT and software workers. Solaire, for example, is offering four weeks of free rent and $1000 discounts to renters employed by tech companies.