TriNet’s SMBeat, an analysis of trends in key human capital economic indicators for small businesses, reports employment in theÂ New York techÂ sector received a 2.5% bump in June as the state continues to challengeÂ San FranciscoÂ as a tech hub and start-up incubator. Net job growth inÂ New York techÂ has outpaced Silicon Valley consistently since March.
WhileÂ New YorkÂ beatsÂ CaliforniaÂ in employment growth, the same does not hold for salaries. The average salary for theÂ NYÂ tech sector isÂ $94,000Â compared toÂ $120,000Â nationally andÂ $143,000Â in California.Â Likely factors to the salary differential are highlighted in TriNet SMBeat data which shows NY tech workers trend youngerÂ and more female than the CA tech population.
Silicon Valley andÂ New YorkÂ aren’t the only hubs for innovation; the futureÂ looks bright forÂ theÂ Georgia tech sector as the state works to provideÂ $100 million in venture capital funding to startups over the next few years.Â The state’s efforts to court technology companies and entrepreneurs are paying off with hiring activity at 5.89% for the month. Additionally,Â strong job creationÂ showedÂ net growth at 3.74% in June,Â significantly outpacing Silicon Valley’s growth of 1.31%.
The complete SMBeat report is availableÂ here.