Silicon Valley workers earn three times more than tech staff here
Published 26/08/2014 | 02:30
The average wage of a technology employee in Silicon Valley has risen to €142,000, almost three times the level of Irish technology employees.
The figures, published by the US Bureau of Labour, also show that employees of technology firms in San Francisco now earn an average of €115,000. Figures from Ireland's Central Statistics Office show that Irish technology workers earn an average of €53,000, although the figure varies by industry and location.
The new figures will heighten concerns of a labour shortage in the technology industry, with programmers, developers and product managers in short supply.
In Ireland, surveys show that workers in the software sector are among the highest paid professionals in the country, matched only by those in financial services. Large technology firms such as Google, Microsoft and Facebook offer perks such as free food, dry cleaning and private healthcare as incentives to attract and retain staff.
The figures come despite an Irish survey suggesting that IT and engineering students at the country's top colleges don't expect to earn even the average wage in their first job. IT and engineering students expect to earn, on average, a gross salary of €33,905 in their first job.
The survey of more than 4,400 students at 12 third-level institutions suggests that students' expectations have been tempered as they grew up during the economic downturn. CSO figures show that those working in the accommodation and food services sector earn an average salary of just €16,319, while the average annual salary was €36,079 across all sectors in 2012.