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http://www.jobspringpartners.com/blog/posts/2013/3/4/the-war-fo
3/4/13 by Silicon Valley
By: Scott Purcell, Division Manager of Jobspring Silicon Valley
Anyone who has lived in Silicon Valley for a while and works in the high
tech world, particularly in software, can attest to a market where the
competition for solid talent has continued to grow more competitive by the
year. As a high tech recruiter managing an office focused on placing
software engineers I have seen both the competition for talent grow as well
as that very same competition drive salaries into a realm that we have never
seen before.
To be fair, salaries for software engineers in Silicon Valley have always
been, on average, probably the highest in the United States. I personally
came up from LA in March of 2007 and noticed right away the differences in
salary ranges in Silicon Valley. For example, very top tier software
engineers or architects in Los Angeles would on average be making somewhere
in the 110k-125k range give or take. Entry-level grads with a BS in CS from
top Universities like UCLA would start out making 50k-70k. These numbers all
sounded pretty reasonable to me when you take into account averages for
other professions and cost of living. Coming to Silicon Valley definitely
was eye opening. Recent grads were getting 70k-80k. Senior Engineers were on
average getting anywhere from 120k-140k. These average numbers really blew
me away.
Fast forward to 2010. We’ve just come out of a pretty nasty recession and
the rest of the country is still hurting economically. Silicon Valley
however is on the rebound. After a few years of radio silence in the venture
capital world the money is flowing again. Software engineers that have put
in a solid 3-5 years with their current companies and have waited out the
recession are beginning to sense that there’s a new boom on the rise.
Companies begin to use those funds to hire top talent. At first, salaries
seem to stay the same on average. But as 2011 begins trends start to emerge.
Facebook and Google begin competing fiercely for the very best young
software talent and willing to pay 100k+ for entry-level software engineers.
Other companies like Yahoo follow suite forcing venture-funded start-ups to
also raise their salaries. Those engineers that had been making 125k-140k
are looking for new jobs and, with the demand for their skills, are not
willing to consider lateral moves. This drives the salaries up and now 150k
base salaries for Senior Software Engineers has become the average. New
trends in the market like Big Data and HTML5 drive the salaries up even more.
For the first time since I’ve been recruiting I’m placing Senior Engineers
at base salaries of 165k. You would think that these would be big,
profitable companies, but the companies paying those salaries range from
Series A funded startups to 300 person profitable startups. Gone are the
days of paying someone a lower salary with the promise of equity unless that
equity is something extremely unique; as in 1% of the company and you can
still expect a relatively competitive base salary.
Today, in 2013, the salaries in Silicon Valley are drastically different
then even six years ago when I moved to Silicon Valley. This year alone I’
ve placed entry-level grads starting at 80k and generated an offer for a
Java Hadoop candidate with only three years of experience at 175k. Salaries
for Senior Java Engineers that my team is placing range from 140k on the
very low end to 165k. Candidates with 3-5 years of experience are easily
being offered 110k-130k base salaries with significant equity and / or
bonuses. This presents challenges to many companies from both a budgeting
and internal equity standpoint but that’s Silicon Valley!
So what will future salaries look like in 2013?
This is an intriguing question. We’ve come to a really interesting place
regarding compensation in Silicon Valley. Right now top engineering talent
is getting 165k and above. With some C-Level executives and lower-management
in the same range it can make things challenging from an internal-equity
standpoint. Do companies stick to their guns and lose out on candidates or
do they look to adjust their entire structure?
Predictions:
My personal opinion is that there are going to be some serious growing pains
in 2013 and it will take until Q3 or Q4 until some companies begin to catch
up to the market. Many companies will think that salaries are inflated and
not want to pay the top salaries when those candidates may not be as skilled
as the engineers already at the company. They also won’t want to up the
salaries of the current employees. However, as word gets about what the
market is paying and there are more companies paying those salary ranges we
will start see more candidates making moves based partly on salary. Some
companies will successfully counteroffer those candidates and others may
lose talent.
By the end of the year most companies will be paying that market rate for
top talent and will have to adjust their internal salary structure. This all
hinges on the continued economic growth that we have seen the past couple
years. Fingers crossed!
If my predictions are right, the good news is there will be some exciting
growth in the tech world and more than enough money to go around for both
talent and budding companies to continue the explosive innovation that makes
Silicon Valley the high tech mecca of the world! As the war for talent
continues I’m excited and interested to see how this will continue to
evolve the high tech market in Silicon Valley and the impact it has on other
tech meccas across the nation.
3/4/13 by Silicon Valley
By: Scott Purcell, Division Manager of Jobspring Silicon Valley
Anyone who has lived in Silicon Valley for a while and works in the high
tech world, particularly in software, can attest to a market where the
competition for solid talent has continued to grow more competitive by the
year. As a high tech recruiter managing an office focused on placing
software engineers I have seen both the competition for talent grow as well
as that very same competition drive salaries into a realm that we have never
seen before.
To be fair, salaries for software engineers in Silicon Valley have always
been, on average, probably the highest in the United States. I personally
came up from LA in March of 2007 and noticed right away the differences in
salary ranges in Silicon Valley. For example, very top tier software
engineers or architects in Los Angeles would on average be making somewhere
in the 110k-125k range give or take. Entry-level grads with a BS in CS from
top Universities like UCLA would start out making 50k-70k. These numbers all
sounded pretty reasonable to me when you take into account averages for
other professions and cost of living. Coming to Silicon Valley definitely
was eye opening. Recent grads were getting 70k-80k. Senior Engineers were on
average getting anywhere from 120k-140k. These average numbers really blew
me away.
Fast forward to 2010. We’ve just come out of a pretty nasty recession and
the rest of the country is still hurting economically. Silicon Valley
however is on the rebound. After a few years of radio silence in the venture
capital world the money is flowing again. Software engineers that have put
in a solid 3-5 years with their current companies and have waited out the
recession are beginning to sense that there’s a new boom on the rise.
Companies begin to use those funds to hire top talent. At first, salaries
seem to stay the same on average. But as 2011 begins trends start to emerge.
Facebook and Google begin competing fiercely for the very best young
software talent and willing to pay 100k+ for entry-level software engineers.
Other companies like Yahoo follow suite forcing venture-funded start-ups to
also raise their salaries. Those engineers that had been making 125k-140k
are looking for new jobs and, with the demand for their skills, are not
willing to consider lateral moves. This drives the salaries up and now 150k
base salaries for Senior Software Engineers has become the average. New
trends in the market like Big Data and HTML5 drive the salaries up even more.
For the first time since I’ve been recruiting I’m placing Senior Engineers
at base salaries of 165k. You would think that these would be big,
profitable companies, but the companies paying those salaries range from
Series A funded startups to 300 person profitable startups. Gone are the
days of paying someone a lower salary with the promise of equity unless that
equity is something extremely unique; as in 1% of the company and you can
still expect a relatively competitive base salary.
Today, in 2013, the salaries in Silicon Valley are drastically different
then even six years ago when I moved to Silicon Valley. This year alone I’
ve placed entry-level grads starting at 80k and generated an offer for a
Java Hadoop candidate with only three years of experience at 175k. Salaries
for Senior Java Engineers that my team is placing range from 140k on the
very low end to 165k. Candidates with 3-5 years of experience are easily
being offered 110k-130k base salaries with significant equity and / or
bonuses. This presents challenges to many companies from both a budgeting
and internal equity standpoint but that’s Silicon Valley!
So what will future salaries look like in 2013?
This is an intriguing question. We’ve come to a really interesting place
regarding compensation in Silicon Valley. Right now top engineering talent
is getting 165k and above. With some C-Level executives and lower-management
in the same range it can make things challenging from an internal-equity
standpoint. Do companies stick to their guns and lose out on candidates or
do they look to adjust their entire structure?
Predictions:
My personal opinion is that there are going to be some serious growing pains
in 2013 and it will take until Q3 or Q4 until some companies begin to catch
up to the market. Many companies will think that salaries are inflated and
not want to pay the top salaries when those candidates may not be as skilled
as the engineers already at the company. They also won’t want to up the
salaries of the current employees. However, as word gets about what the
market is paying and there are more companies paying those salary ranges we
will start see more candidates making moves based partly on salary. Some
companies will successfully counteroffer those candidates and others may
lose talent.
By the end of the year most companies will be paying that market rate for
top talent and will have to adjust their internal salary structure. This all
hinges on the continued economic growth that we have seen the past couple
years. Fingers crossed!
If my predictions are right, the good news is there will be some exciting
growth in the tech world and more than enough money to go around for both
talent and budding companies to continue the explosive innovation that makes
Silicon Valley the high tech mecca of the world! As the war for talent
continues I’m excited and interested to see how this will continue to
evolve the high tech market in Silicon Valley and the impact it has on other
tech meccas across the nation.
