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Tech-Sector Salaries and Commercial Rents Keep Going Up

Salaries for tech workers keep going up, with the 2014 average yearly wage for San Francisco employees reaching $176,275 (up 12.8 percent from the year before and the biggest increase nationwide). Neighboring San Mateo County had the highest tech wages in the U.S. with $240,663 per year (thanks, in large part, to the fact that Facebook's headquarters are in Menlo Park). The figures are from a study by commercial real estate firm JLL and reported in the San Francisco Chronicle.

The article makes the case that demand for tech workers and offices in the region is boosting salaries and rent prices for commercial space (downtown Palo Alto has the highest with $98.68 per square foot). Steven Levy from the Center for Continuing Study of the California Economy told a Chronicle columnist that higher tech salaries have spurred measures such as increases in the minimum wage and pay raises for tech bus drivers. But he added these benefits are "swamped by increases in housing prices, mostly rent."

· Tech wages, rents still soaring in Bay Area [SFGate]