"The tech sector is fueling a job boom that stands in stark contrast to the malaise of the general job market. The nationwide unemployment rate ticked up to 9.2 percent in June, according to the Bureau of Labor Statistics. At the same time, the unemployment rate for tech professionals dropped to 3.3 percent, from 5.3 percent in January. 'That’s pretty close to full employment,' says Alice Hill, managing director of technology career website Dice.com (DHX)."
"'It’s such a thin market, it feels like everybody is employed already,' says Adam Pisoni, co-founder and chief technology officer of Yammer, which sells software and services for social networking in the workplace. The San Francisco company is doubling its engineering staff. 'Engineers have 10 recruiters calling them.' The company would like to hire between 50 and 100 engineers this year, Pisoni says."
Business Week: Hiring Like It's 1999
It's true, the iron is officially hot for tech geeks! But, that doesn't necessarily mean it's time to move west... Tech recruiters outside of SF and Seattle are feeling the pinch as well and are offering more in ways of perks than ever in the past.
"'Hiring developers is the bane of my existence; it's a tight market,' says Christa Foley, recruiting manager for Henderson, Nev.-based Zappos.com. 'Vegas just doesn't compete.'"
"The company has about 100 open technical positions ranging from IT to project management to mobile development and three full-time "technical recruiters," Ms. Foley says. Last year it took up to six months to fill a technical opening whereas now it takes up to eight months, she says."
"A June survey at IT job site Dice.com found that 65% of nearly 900 hiring managers and recruiters anticipate hiring more technology professionals in the second half of 2011 than in the preceding six months. And according to a July study by human resources consulting firm Mercer LLC, 82% of IT companies increased spot cash bonuses, up from 77% in 2010 and 42% offered "aggressive" pay increases, up from 39%."
WSJ: Luring Talent With Perks
"Timothy Jones wants to double the size of his 12-person staff by the end of the year. The trouble is, the software developers he's seeking know they can make more money elsewhere. 'The reality is that somebody graduating school in Massachusetts can basically double their salary by getting on a plane and going to San Francisco,' said Jones, chief executive of the Boston social media analytics firm Buzzient."
Boston.com: In high-tech, another kind of job crunch
But, shrewd geeks can use this to their advantage. Stay put, where the cost of living is less, and still find a good-paying tech job that offers great perks. Check out this info graphic depicting salary and cost of living differences across the U.S. For instance, the lifestyle $92k in SF gets you can be had for around $46k in Philly.
